Ethereum struggles to stabilize at $3,000 due to weak institutional inflows.
October expected to bring shift in sentiment, potentially boosting ETH price.
Technical analysis suggests possible 23% rise to $3,258 if breakout occurs.
Ethereum (ETH) finds itself at a critical juncture as it grapples with the challenge of establishing a firm foothold around the $3,000 mark. The second-largest cryptocurrency by market capitalization has faced headwinds in the form of tepid institutional inflows and wavering investor confidence.
However, market observers anticipate a potential shift in sentiment and price action as October approaches, contingent upon increased institutional participation.
The lackluster performance of spot Ethereum ETFs has been a significant concern for the altcoin’s bullish outlook. Matt Mena, crypto research strategist at 21.co, attributes this weak inflow to various factors, highlighting the need for a change in institutional sentiment to drive ETH’s pric
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