Ethereum struggles to rebound as resistance stalls near $2,560 while weekly spot ETF outflows hit $542 million, signaling weak demand. The price has oscillated between the $2,250 support and current levels around $2,500, with $2,408 identified as a critical threshold to avoid a drop toward the $2,350-$2,400 zone. Open interest remains substantial at 10.58 million ETH, approximately $12.9 billion, exposing the market to significant volatility and liquidation risk. On Bitfinex, longs have surged to nearly $283,405 as some traders bet on a rebound, while the RSI exceeds 82, indicating extremely stretched momentum and danger of liquidation if the recovery fails. Whales are reducing their bearish exposure relative to retail, and the negative delta at 940,000 ETH confirms positioning pressure, making a reclaim of $2,560 essential to restore confidence.
Source: Read the original article
