The price of ethereum, or 1 ETH, was $2,299.44 as of 8 a.m. ET. The crypto’s highest intraday price in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

Ethereum faces challenges as significant exchange inflows signal potential selling pressure. Could this lead to a price drop?

The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks. On Sept. 20, the non-profit sold 300 ETH for over $760,000 as Ethereum price rose to above $2,500.

The price of ethereum, or 1 ETH, traded at $2,307.67, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

Ethereum’s price action is currently mirroring a fractal pattern that took shape in 2021, before reaching the ATH of $4,878.

Ethereum (ETH) open interest has trended lower in recent weeks, indicating an overall loss of enthusiasm for the asset. Funding rates continue to stay on the lower side, often turning negative.