Ethereum has struggled to sustain a rally above $2,500 and data suggests that more downside could be on the way for ETH price.
Ether (ETH) has made several recoveries above $2,500 since the early August crypto sell-off but has been unable to sustain above this important price level.
Market participants anticipated spot Ethereum exchange-traded funds (ETFs) flows to boost ETH’s price once they began trading on July 23.
At the time of writing, Ether is headed for its sixth straight day in the red, with $2,500 posing stiff resistance. Meanwhile, several technical and onchain metrics are pointing to a further correction.
