$ETH sits at 4H channel support ($2,180–$2,200), with $2,280–$2,390 upside if buyers return; $2,200–$2,400 remains the breakout trigger zone.

According to market commentary shared by analyst charts, ETH has “returned to the bottom of the channel,” with traders observing whether renewed buying pressure can push the price back toward the mid-range at approximately $2,280 or extend toward the upper boundary near $2,390.

The structure reflects a descending channel formation that has been developing since early May 2026, suggesting continued consolidation unless a decisive breakout occurs.

Ethereum Price Analysis: ETF Outflows Add Pressure to Market Sentiment

Recent flow data from U.S. spot Ethereum ETF products indicates persistent institutional outflows. On May 15, net redemptions reached approximately $65.7 million, marking the fifth consecutive day of negative flows. BlackRock’s ETHA ETF accounted for a significant portion of these withdrawals, with roughly $50.4 million sold.