Ethereum Price Forecast: Staked ETH soars to record high despite weakening institutional interest

Ethereum price today: $1,900

• The total supply of staked ETH reached a record high of 39.69 million ETH.
• US spot ETH ETFs have recorded 15 consecutive days of net outflows.
• A break below $1,909 could send ETH toward the $1,740 level.

Ethereum (ETH) total staked value is rising again after declining between mid-April and mid-May. The staked ETH supply has reached a record high of 39.69 million ETH, suggesting that investors are now likely chasing yield to offset price declines rather than exiting the market entirely.

The cohort primarily responsible for holding onto their tokens is wallets with balances of 10K-100K ETH. These investors increased their collective balance by 120K ETH last week, a slight improvement from the previous week, when their holdings saw minimal changes.

However, retailers maintained distribution, with wallets holding 100-1K and 1K-10K ETH offloading a combined 336K ETH last week. The move suggests onchain activity is tilting bearish, as retail distribution outweighs whale accumulation.

Institutional participation also continues to weaken, with US spot ETH exchange-traded funds (ETFs) recording 15 consecutive days of net outflows.

Meanwhile, interest in ETH across leading crypto market regions, the US and South Korea, is declining rapidly, as evidenced by the downtrend in the Coinbase and Korea Premium Indexes.

On the derivatives side, negative readings are expanding in the Binance Net Taker Volume, which measures the difference in volume between long and short traders using market orders. The move indicates short positioning has dominated recent volumes in ETH perpetuals.

Ethereum Price Forecast: ETH could fall to $1,740

On the daily chart, ETH is extending a bearish phase as price holds well below the 20-, 50- and 100-day Exponential Moving Averages (EMAs) at $2,082, $2,162 and $2,262, respectively.

The cluster of overhead EMAs, together with nearby horizontal barriers at $2,018 and $2,107, suggests rallies are likely to be capped for now, while the Relative Strength Index (RSI) at 24 and a deeply depressed Stochastic near zero highlight oversold but still pressured momentum.

On the downside, immediate support is near $1,909, below which sellers could target $1,741, with subsequent floors emerging at $1,524 and $1,404 if bearish pressure deepens.

(The technical analysis of this story was written with the help of an AI tool.)