Ethereum price has struggled to gain traction despite multiple attempts to break out of a tightening triangle pattern. ETH remains range-bound after failing to convert recent momentum into a sustained breakout.
Beyond broader macro pressures, institutional behavior has also emerged as a key hurdle. Retail holders now appear to be reassessing their stance.
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Ethereum Key Holders Opt To Pull Back
Institutional investors withdrew $116 million from Ethereum during the week ending January 9. These outflows reflect growing skepticism among large capital allocators. ETH saw reduced institutional participation even as the price attempted to stabilize.
Notably, the Ethereum price began rising during the same period. However, sustained institutional selling limited upside momentum. The outflows coincided with ETH’s failure to escape the triangle pattern, highlighting the influence of institutional flows on price direction.
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Ethereum Institutional Outflow. Source: CoinsharesInstitutions often provide liquidity during breakout phases. Their absence reduces follow-through after technical breaks. For Ethereum to reclaim stronger trend dynamics, renewed institutional engagement may be required.
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ETH Selling Pressure Could Prove To Be Bearish
On-chain data suggests Ethereum holders are also shifting behavior. The exchange net position change recently printed a green bar. This signals inflows into exchanges, a proxy for increased selling activity.
This marks the first such instance in over six months. Prior to this, buying pressure had remained dominant. The reversal indicates weakening demand and rising caution among ETH holders.
Ethereum Exchange Net Position Change. Source: GlassnodeSelling pressure, even if moderate, can weigh on price during consolidation. Without renewed accumulation, Ethereum may struggle to defend critical support levels in the near term.
What Is Next For ETH Price?
Ethereum trades near $3,134 at the time of writing, hovering around the $3,131 level. ETH remains trapped within a triangle pattern formed in mid-November. The recent breakout attempt failed to gain confirmation.
Current conditions present downside risk. Institutional withdrawals and rising exchange inflows could pull ETH toward $3,000. Losing that level would expose $2,902. A breakdown below this support would invalidate the pattern and signal further weakness.
ETH Price Analysis. Source: TradingViewA bullish alternative remains possible. If Ethereum flips $3,131 into firm support, price could advance toward the $3,287 resistance. A confirmed breakout would negate the bearish thesis. While the pattern projects a 29.5% upside toward $4,200, a more realistic target remains $3,441.
Source: https://beincrypto.com/ethereum-price-remains-steady-above-3000/


