ETH keeps stalling... what gives?
Ethereum (Reddit)

Since late August ETH has been stuck on repeat. It runs up 2 or 3 percent, hits around $4,500, then stalls out like clockwork. Today was another example of the same thing.

Is this just a clear resistance level everyone is selling into, or is there something bigger happening? Some people point to options pinning, others mention sell walls and thin liquidity above $4,500. ETF inflows may have cooled off, BTC dominance might be keeping ETH down, and perpetual funding resets could also be part of it. There is always the macro angle too with CPI and rate expectations keeping a lid on risk markets. On-chain flows from staking and L2 activity could also be adding steady supply.

If anyone here watches order books, open interest, or on-chain flows I would love to hear what you are seeing. And if you think ETH eventually breaks through this level, what would convince you first? Spot leading perps, a real volume spike, or ETF inflows picking back up?

Not trying to call a top or bottom, just curious why ETH keeps running into the same ceiling.

Daily General Discussion September 11, 2025
Ethereum (Reddit)

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