Can ETH Hold $2,400 in the Weekend Ethereum Price Prediction?
Ethereum was trading at $2,436 on August 29, as digital assets reacted negatively to tighter Federal Reserve policy expectations. Other cryptocurrencies also failed to hold value, dropping by 1.71% in 24 hours and taking total market capitalization down to $2.62 trillion. Bitcoin traded under $78,000 and XRP was trading close to $1.38. With the situation in mind, Ethereum commenced the weekend in the important $2,350-$2,500 trading range, which now will likely determine the next short term price action.
1.52 Billion USD in Demand for Ethereum ETFs Since Last Week
The demand for spot Ethereum ETFs in the US recorded an inflow of $102.18 million on August 28, and further extended the positive streak to 10 trading days. In this period, the products had an inflow of $1.52 billion, demonstrating the commitment from the market participants, regardless of the price pullback of Ethereum.
In this period, the strongest weekly inflow occurred this week, at $824.42 million, the largest inflow recorded since October 2025. The August 27 date also marked the largest inflow for the day, at $234.51 million.
In the past, spot Ethereum ETFs had an inflow of $12.97 billion, and their combined assets reached $15.23 billion. The funds had an active trading session, with an estimated trading value of $1.37 billion.
BlackRock is the Leader for Demand for Ethereum ETFs
Among Ethereum ETFs, BlackRock’s ETHA had the strongest daily inflows with $83.79 million, bringing total assets to nearly $8.46 billion. Despite these inflows, the ETF’s price declined 2.65% to $18.37 with a trading volume of approximately $1.04 billion.
More inflows were seen in BlackRock’s Ethereum product ETHB, which saw inflows of $42.64 million, increasing its asset total to approximately $889.26 million. Fidelity’s FETH had the largest outflow of the day losing $24.26 million.
There were also no daily flow changes for Grayscale, Bitwise, VanEck, and Franklin products. There was no price increase for the inflows, and Ether declined 2.33%, as all of the displayed Ethereum ETFs had a price decrease.
Hawkish Federal Reserve Expectations Pressure Crypto Prices
Generally negative macro conditions impact Ethereum and other digital assets equally. The Federal Reserve tightening has increased risk aversion and diminished opportunities for digital assets, including the major currencies of Bitcoin and Ethereum, to enjoy significant bullish extensions after recent rallies.
The contrast in inflows for Ethereum and approximately $201.81 million worth of Bitcoin ETFs reported outflows on August 27 indicates that Ethereum retains a focus of interest for institutional investors despite a lack of activity in many markets.
Investors are tracking regulatory changes, such as the CLARITY Act, which has passed the House and is currently in the Senate. The provisions for enforcement, anti-money laundering, and ethics are still being negotiated, and a vote for September 15 is anticipated to see if the bill supporters can obtain the needed 60 votes to move the legislation forward.
Ethereum Price Prediction: Can ETH Hold $2,400?
Ethereum has consolidated following its bullish spree in August, where it touched prices of around $1,900. During this bullish run, Ethereum’s price surged to above $2,200 and touched the $2,500 resistance zone multiple times. Ethereum has also established support near the $2,000 range.
Ethereum’s momentum indicators are showing some caution. The RSI was at 44.09, meaning Ethereum’s price momentum is weakening but is not in the oversold zone. The MACD line, at 0.65, was also below the 12.62 signal line and the histogram at -11.97, is showing bearish MACD convergence.
The significant support for the long weekend is at $2,350. If this support is maintained, Ethereum has a chance to test the $2,500 resistance zone. A bullish setup would be established if price closes above $2,500 for the 4 hour candle, making $2,550 and $2,600 the next price targets.
If Ethereum fails to hold $2,350, price would likely drop to the next support at $2,300, and more selling pressure would likely test the support at $2,200 which is a much stronger support zone.
