The reserves of ETH exchanges have fallen to a historical low of 18.57 million coins, with a net inflow of $583 million in ETFs. Despite the positive trend in the ecosystem, the market remains cautious about the price of ETH. ETH has risen at the $2500 support level but still encounters resistance at the 20-day MA. On the downside, if the $2500 support fails, ETH needs to maintain above the lower boundary of a key channel, which is reinforced by the 50-day SMA, to avoid falling to the support range of 2260 to 2110. The RSI is above neutral levels and may test its moving average, while the Stoch is below neutral levels. A successful crossover of both indicators will strengthen bearish momentum, and short positions should be held patiently while waiting for acceleration. For short positions, it is recommended to short around 2615~2620, or to add to positions around this level for floating profits.