Ethereum’s Rally Stalls Around $2,600 as Retail Demand Weakens

Since early May, Ethereum has struggled to hold its ground below the $2,600 mark, reflecting a clear shift in market dynamics. Despite robust investment activity from large holders, the lack of retail enthusiasm is keeping prices in check.

Whales continue to accumulate. According to recent on-chain data, they are staking roughly 60,000 ETH per week, contributing to a total staked supply of about 36 million ETH, which grew 3% in JuneMitradeBeInCrypto+2BeInCrypto+2Bitcoinist+2. They’re also withdrawing large amounts—sometimes exceeding 200,000 ETH—from exchanges, signaling long-term conviction and reducing sell-side pressure BeInCrypto.

However, this institutional strength isn’t enough to ignite broader market momentum. Retail participation remains subdued: daily active ETH addresses have plateaued between 300,000 and 400,000, a level insufficient to spark a bullish breakout coinstats.app+11BeInCrypto+11BeInCrypto+11. As a result, Ethereum has established a narrow trading range, with resistance around $2,750 and support near $2,185 BeInCrypto+1BeInCrypto+1.

Ethereum now faces a tipping point. A sustained recovery above $2,750 could pave the way toward $3,067, but further stagnation may drag prices down to $2,027 BeInCrypto. For now, the imbalance remains evident: whales are backing the bullish thesis, but without meaningful retail backing, ETH may continue its sideways path.