Ethereum shows stable market performance in recent days despite significant growth in ETF inflows. However, existing risks could affect future price movements.
Current Price and ETF Inflows
The current price of Ethereum is $2,400, which is about 15% below this month's high. Last week, ETF inflows into Ethereum increased by $283 million, significantly higher than $40 million from the previous week. Additionally, Ethereum ETFs have experienced consecutive inflows over the past seven weeks, totaling $1.13 billion in June.
Major Risks for Ethereum
Despite the rise in ETF inflows, Ethereum faces three major risks. First, the supply of ETH on exchanges has risen to 7.44 million, indicating that investors might be selling their tokens to take profits. Second, the supply held by whales has declined to 100.48 million. Finally, the price of ETH has dropped below the 200-day Exponential Moving Average, which often forecasts negative trends.
Technical Analysis of Ethereum Price
Currently, the price of Ethereum is below the 200-day moving average and failed to remain within a bullish flag pattern. This may indicate further decline, and there is a risk that the token's price could drop below $2,000 in the near future.
In summary, while Ethereum's price remains stable and investment interest is growing, the existing risks could hinder further growth.
