Why Ethereum Price Remains Below $2.4K Despite Multiple Breakout Attempts

Ethereum (ETH) continues to face resistance near the $2,400 level, with the eth failing to maintain momentum despite testing the price zone five times over the past month. Analysts say weak institutional demand, lower trader leverage, and growing exchange deposits are limiting ETH’s upward movement.

While Bitcoin has pushed above $82,000, Ethereum remains stuck in a narrow range between $2,250 and $2,400, leaving investors questioning why the second-largest cryptocurrency has not followed Bitcoin’s stronger rally.

Weak Ethereum ETF Inflows Slow Momentum

One major reason behind ETH’s slower performance is the lack of strong spot ETF demand. Since March, spot Bitcoin ETFs attracted around $4.5 billion in net inflows, helping BTC recover sharply. In comparison, spot Ether ETFs recorded only about $500 million in inflows during the same period.

Without strong institutional buying pressure, Ethereum has struggled to gain enough momentum to break above resistance.

Binance ETH Reserves Increase Selling Pressure

Market data also shows a rise in Ethereum reserves on Binance, increasing from 3.4 million ETH to 3.8 million ETH in May. At the same time, ETH inflows to the exchange reached 771,689 ETH, the highest level since February.

Analysts believe these deposits may indicate traders are preparing to take profits or open new positions, increasing supply near the $2,400 resistance area. Meanwhile, futures traders have reduced leverage exposure, lowering the chances of a sharp breakout fueled by liquidations.

For now, stronger spot demand may be needed for Ethereum to move decisively above $2.4K.