The price of ethereum, or 1 ETH, was $2,299.44 as of 8 a.m. ET. The crypto’s highest intraday price in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

Ethereum’s (ETH) price has exhibited strong bullish momentum this week, currently displaying four back-to-back daily green candles for the first time since early July. The rally for crypto assets began after the United States announced a 50 basis point rate cut,

Ethereum faces challenges as significant exchange inflows signal potential selling pressure. Could this lead to a price drop?

Ethereum, or 1 ETH, traded at $2,307.70 as of 8 a.m. ET. The highest intraday price the cryptocurrency reached in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks. On Sept. 20, the non-profit sold 300 ETH for over $760,000 as Ethereum price rose to above $2,500.

Ethereum shows signs of potential price recovery with easing sell pressure and positive technical indicators, despite months of decline and underperformance of Ethereum ETFs.

Ethereum (ETH) open interest has trended lower in recent weeks, indicating an overall loss of enthusiasm for the asset. Funding rates continue to stay on the lower side, often turning negative.