Ethereum slid below $2,150 after failing to break through $2,400, with analysts pointing to a shift in short-term control to sellers. The drop was linked to aggressive sell orders in Binance futures and outflows from Ethereum investment products. Spot Ethereum ETFs posted five straight sessions of net outflows totaling $255 million, while global Ethereum products also saw heavy weekly withdrawals. Some analysts flagged $2,000 to $2,100 as a near-term support zone.

Ethereum is holding in a range below $2,400, with large whale holders buying more than 140,000 ETH from May 1 to 3, worth about $322 million, Santiment data show. Derivatives positioning has entered a zone with heavy liquidation pressure, with long liquidations clustered below $2,206 and short liquidations above $2,412, CoinGlass data show. Ethereum spot ETFs turned to net inflows on May 1, led by BlackRock’s ETHA and Fidelity’s FETH, Farside Investors data show.