Ethereum Price Maintains Steady Ground Above $2,100

Ethereum (ETH) price has managed to maintain its position above the crucial support level of $2,100, despite a week-long exodus of investors from exchange-traded funds (ETFs). According to data from SoSoValue, spot Ethereum ETFs in the US have experienced seven consecutive sessions of net outflows, totaling $62.3 million on Tuesday alone.

The decline in US market interest has been reflected in the Coinbase Premium Index, which measures the price differential between Coinbase Pro and Binance platforms. The indicator has consistently reported negative values since the final days of April, indicating reduced buying activity from American traders compared to their international counterparts.

From a technical analysis perspective, Ethereum's current price action suggests that it is working to break through the critical resistance zone at $2,150. According to cryptocurrency market analyst Ted Pillows, successfully reclaiming this zone could propel ETH towards the $2,250 target, whereas failure would likely result in a retreat toward the $2,000 psychological level.

The $2,150 price point also aligns closely with the 61.8% Fibonacci retracement level calculated from the recent swing high of $2,198 down to the swing low at $2,075, reinforcing its significance as a pivotal technical zone. Meanwhile, futures markets have displayed contradictory indicators, with funding rates remaining in positive territory and open interest rebounding approximately 500K ETH since Monday's lows.