Ethereum price around $2.400 with risk of falling to $2.200

The Ethereum price is hovering around $2.400, but analyst TedPillows sees danger in the short term. Inflow into Ethereum ETFs has turned to outflow, pointing to waning demand. If sellers manage to close the price below $2.350 on a weekly basis, Ethereum could slide to $2.200, the analyst expects.

Ethereum is available at OKX and Bybit.

In brief:

• Ethereum price stands at $2.400, slightly above the $2.350 level that is considered crucial
• ETF outflow points to weakening demand for Ethereum
• With a weekly close below $2.350, TedPillows expects a decline towards $2.200

ETF outflow as a warning signal

Ethereum is currently trading at $2.400, a modest gain of 0.8% compared with 24 hours earlier. The price is thus sitting just above the level that was previously flagged as crucial support around $2.400.

Yet a note of caution is sounding. Analyst TedPillows observes that inflow into Ethereum ETFs has flipped to outflow. In his view, that signal indicates weakening demand from investors, leaving the price vulnerable to further downward pressure.

Weekly close below $2.350 is the key

According to TedPillows, a weekly close below $2.350 is the tipping point. If sellers manage to break through that level, he expects Ethereum to fall back towards the support zone around $2.200. On the chart, that zone is visible as a previously tested support level.

The fact that growth in DeFi wallets does not automatically feed back into the Ethereum price does little to brighten the picture. The upcoming weekly close will determine whether the current price zone holds or whether further pressure towards $2.200 emerges.