Ethereum slipped to around $2,452 on Wednesday after three attempts to break the $2,500‑$2,550 band were rebuffed, keeping the token just shy of its recent seven‑day high.
Price action stalls as sellers step in
Opening at $2,442.30, the asset fell 1.6% from the prior session before clawing back to $2,469.90 by 8:25 a.m. ET. Mid‑morning quotes hovered between $2,449 and $2,480, with the market centering near $2,452 and $2,465.
The resistance zone proved stubborn. On August 21 the price touched $2,545.88. Tuesday’s run to $2,513 ended with a near‑2% loss, and the full‑day swing covered a 5.45% range.
Each push above that threshold was met by sizable sell orders. The identity of the sellers is unclear, but the pattern suggests profit‑taking by holders who had accumulated earlier.
Supply trends tighten amid staking surge
Staked ETH now sits at roughly 42 million coins, representing just over a 35% share of total supply and valued at more than $77 billion. At the same time, exchange balances fell about 15% from early June.
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One corporate treasury added 32,447 coins in a single week, further shrinking the tradable pool.
The chart looks like a sleepy cat that suddenly decides to sprint; the sudden acceleration caught many off guard.
Liquidity remains a key factor.
The recent week saw spot ETH ETFs pull in $697.2 million, the largest weekly total of 2026.
While momentum indicators such as RSI have printed between 75.59 and 85 across the last week, the MACD has gone flat at the highs of the run, suggesting that the rally may be losing steam.
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Macro data like the 3.7% PCE reading and a fully priced December Fed hike could influence the next move. A major chipmaker’s earnings report also loomed, adding another variable to the mix.
Analysts note that the recent outperformance was amplified by a reported $2.9 billion short squeeze and sizable liquidations.
Still, the convergence of strong ETF inflows, a thinned float, and a high staking ratio provides a supportive backdrop for the next few sessions.
For a deeper dive into the token’s fundamentals, see the Ethereum Wikipedia entry. Official Treasury bond buyback details are available on the U.S. Treasury website.
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