Ethereum's recent upward price momentum faced a slowdown near the 2,500 dollar mark as profit-taking emerged following its move above investors' realized price of 2,306 dollar. This shift occurred as holders who were previously sitting on unrealized losses decided to lock in modest gains. Such behaviour aligns with earlier indications of increased exchange inflows after the cryptocurrency managed to recover above this trading range.
Onchain Metrics Reflect Profit-Taking
Onchain profitability metrics further reinforce the presence of profit-taking across the network. Ethereum's Spent Output Profit Ratio has remained above the 1.0 threshold over the past week, indicating that a significant portion of tokens moved onchain during this period were realized at a profit. At the same time, institutional interest via exchange-traded funds has shown remarkable resilience.
Data indicates that US spot Ethereum exchange-traded funds pulled in 234.51 million dollar on Thursday, successfully extending their net-inflow streak to nine consecutive trading sessions. This sustained buying pressure lifted the weekly inflow total to 722.24 million dollar, marking the strongest weekly performance for these institutional products in roughly ten months and echoing market momentum last observed in October.
Subdued Network Usage And Liquidations
Despite the positive price action, underlying network activity has remained relatively subdued. Both transaction counts and active wallet addresses have declined over the past week, suggesting that broader network utilization has not yet caught up with the upward price movement. The absence of substantial new leveraged demand could also restrict Ethereum's capacity to extend its rally in the immediate future.
For the bullish trend to persist, open interest will need to recover in tandem with a clearer rebound in transaction metrics and active addresses. Market data shows that Ethereum recorded 97.3 million dollar in total liquidations over a 24-hour window, led by 75.8 million dollar in long liquidations.
Live market figures place Ethereum at 2,438 dollar, down 2.89 percent from its previous close of 2,510 dollar, with a 52-week trading range spanning 1,507 dollar to 3,398 dollar and trading volume running at 1.11 times the 20-day average.
Technical Outlook And Moving Averages
On the daily price chart, Ethereum maintains a bullish near-term bias as it trades above its primary Exponential Moving Averages. The 20-day EMA at 2,243 dollar, along with the 50-day EMA at 2,058 dollar and the 200-day EMA at 2,227 dollar, provides a solid structural foundation below current price levels. Technical momentum remains firm, with the 14-day Relative Strength Index printing at 70 to reflect overbought conditions, while the MACD indicator shows a bullish reading of 164.99 against its signal line.
On the downside, immediate support rests near the horizontal pivot at 2,431 dollar, followed by the 20-day EMA and prior structural floors. Deeper market corrections would expose the broader support band defined by long-term moving averages between 2,021 dollar and 2,156 dollar, with historical swing bases situated further down at 1,809 dollar, 1,701 dollar, and 1,507 dollar. On the topside, initial resistance is positioned near the horizontal cap at 2,680 dollar, ahead of a more formidable barrier at 2,879 dollar.
Broader Crypto Market Performance
Other major digital assets experienced mixed trading conditions. Ripple extended its lock-step trading pattern for a third consecutive session, with support at 1.40 dollar coming under severe pressure following its earlier 72 percent rally from 1.00 dollar. Bitcoin retreated below the 80,000 dollar threshold after failing to break resistance between 81,000 dollar and 82,000 dollar, dragging major altcoins into a cooling phase.
Meanwhile, Hyperliquid dipped 2 percent after hitting a record high of 86.75 dollar a day prior, even as Nasdaq-listed Hyperliquid Strategies raised nearly 650 million dollar in an equity transaction to expand its token holdings to 29.3 million units.
