ETH holds $2,400 as profit-taking slows rally
Ethereum (ETH)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Ethereum (ETH) has maintained a price above $2,400 and traded near $2,500 this week following a sharp rally. Upward momentum has slowed as investors take profits after ETH moved above its average on-chain cost basis of $2,306. This move unlocked selling pressure from holders who were previously underwater and are now securing modest gains.
Ethereum’s Spent Output Profit Ratio (SOPR) has remained above 1, indicating that on-chain ETH was sold at a profit on average. Broader liquidity remains supportive due to stablecoin market growth, with inflows crossing $4.1 billion over the past two weeks. US Spot Ethereum exchange-traded funds (ETFs) pulled in $234.51 million on Thursday, extending an inflow streak to nine consecutive trading days.
This run lifted weekly inflows to $722.24 million, the strongest weekly total for Ethereum funds in roughly ten months. Despite this institutional demand, open interest has failed to recover meaningfully following a recent leverage flush and short-liquidation event. Onchain network activity has remained subdued, with both transaction counts and active addresses declining over the past week.
Technical analysis shows ETH holding a bullish near-term bias above key Exponential Moving Averages, with the 20-day EMA at $2,261. Immediate support is seen near $2,431, while initial resistance is located at a horizontal cap near $2,680.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 31 August 2026. Not the outlet's figures.
Whalio spot data shows ETH trading at $2,416.88 with a 1-hour buy ratio of 36.8% and a 4-hour buy ratio of 39.7%. These short-term ratios are lower than the 24-hour buy ratio of 47.1%, indicating that buying pressure is fading in the immediate term. The volume delta reflects this sentiment, showing net selling of -$41,743,026 over the last hour and -$52,502,361 over the last four hours. A negative volume delta means that sell volume exceeded buy volume during those periods, pushing prices down. Net buying occurred in only 10 of the last 24 hours, suggesting a lack of sustained aggressive accumulation.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Twenty-four hours later
What ETH did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.9%, compared to the current 24-hour ratio of 47.1%. This represents a decline of 2.8 percentage points from the weekly average, indicating weaker buying interest than usual. Volume relative to the weekly average stands at 0.84x, showing that trading activity is below normal levels. Net buying occurred on only 4 of the past 7 days, further highlighting a subdued market environment. This is an ordinary to slightly weak day for the coin, as both the buy ratio and volume delta indicate reduced participation compared to the recent weekly trend.