Ethereum (ETH) Consolidates at $2,680 Amid Growing Profit-Taking Signals

Key Highlights

• ETH maintains position around $2,680, stuck beneath the $2,710-$2,720 resistance barrier.
• Approximately 125K ETH has flowed onto exchanges since Friday, indicating heightened profit-taking activity.
• Spot Ethereum ETF inflows in the US collapsed from $269.9 million to $17.1 million over seven days.
• BitMine accumulated 17,362 ETH during the previous week, pushing total reserves to around 6 million ETH.
• Market participants are monitoring the $2,650 support level and $2,720 resistance for the next significant price movement.

Ethereum currently hovers around the $2,680 mark today. Over recent sessions, the asset has remained range-bound just beneath the $2,700 threshold while staying comfortably above its primary moving averages.

Exchange balances for ETH have increased by approximately 125K tokens since last Friday. This uptick suggests more coins are being transferred to trading platforms, typically indicating that investors may be preparing to liquidate positions.

According to Santiment analytics, realized profits reached $222 million on Friday. However, this number has moderated in subsequent days as market activity cooled.

The Coinbase Premium Index, a gauge of US-based purchasing pressure, dropped to -0.0483. This represents its weakest level in nearly two weeks.

Spot Ethereum ETF inflows from US markets also experienced a sharp decline. They plummeted from $269.9 million last week to merely $17.1 million on Monday, based on SoSoValue tracking.

Market participants seem to be reducing exposure ahead of critical US inflation statistics and employment data scheduled for Wednesday and Friday releases. Additionally, diplomatic negotiations between the US and Iran have broken down following President Trump’s rejection of a proposed ceasefire agreement.

Treasury Yields Climb as Economic Uncertainty Grows

The 10-Year US Treasury yield has surged approximately 70 basis points throughout this month. The Kobeissi Letter highlighted on X that fixed-income markets are currently factoring in four additional 25-basis-point interest rate hikes through June 2027.

Ethereum has experienced $61.6 million in liquidated positions during the last 24 hours. Short position liquidations accounted for $33.7 million of this figure.

Looking at the daily timeframe, ETH displays a 14-day RSI reading of 62 alongside a Stochastic indicator at 71. Both metrics remain in bullish territory while avoiding overextended conditions.

Initial support is positioned between $2,612 and $2,626, with subsequent levels at $2,544 and $2,431. Additional downside protection exists around $2,275, $2,172, and $1,961.

For upward movements, the first resistance barrier appears at $2,786, followed by $2,894 and $3,177. Analyst Ash Crypto noted on X that ETH successfully defended $2,550 and finished last week with a 1.66% gain, emphasizing that the $2,300 to $2,800 zone has historically produced three significant weekly breakouts, with a sustained breach above $2,800 potentially targeting $3,600-$4,500.

Demand Strengthens Across Trading Platforms

Trader XO identifies $2,720 as the critical threshold required to unlock movement toward $2,900 and the yearly opening price. Failure to breach this level would keep the $2,300-$2,700 trading range active.

Trader Symba identified a potential bullish checkmate formation, designating $2,650 to $2,710 as a reaccumulation area. Breaking above $2,710 could target $2,800 initially, followed by $3,000.

CW8900 noted increasing purchase activity on Coinbase with minimal selling pressure during the most recent trading session. Charts from Binance and OKX display comparable demand patterns, indicating broad-based recovery across multiple platforms.

BitMine acquired an additional 17,362 ETH throughout the past week. This transaction elevates the company’s cumulative Ethereum position to roughly 6 million ETH.