Ethereum Price Fails to Break Above $2,400 Despite Institutional Investment

Ethereum's price has been stuck below $2,400, despite a surge in institutional investment. The cryptocurrency's ETFs have seen significant inflows over the past few days, with net inflows totaling $260 million. This influx of capital is likely due to increased interest from institutional investors.

However, the strong demand from institutions has not been enough to push the price above resistance at $2,438. A whale identified as Garrett Jin moved 166,023 ETH to Binance in recent hours, adding selling pressure to the market.