Ethereum (ETH) is struggling to build momentum near $2,700 as rising exchange balances and weaker institutional inflows point to more cautious positioning. Profit-taking has accompanied the recent consolidation, while investors await US inflation and labor market releases scheduled for Wednesday and Friday. Geopolitical uncertainty is adding pressure, leaving ETH in need of a fresh catalyst to extend its advance. Despite those headwinds, Ethereum's daily chart remains constructive. The asset continues trading above its key exponential moving averages, although buyers have yet to overcome nearby resistance. Rising exchange reserves signal potential selling pressure Ethereum exchange reserves have increased by roughly 125,000 ETH since Friday, according to CryptoQuant data. The metric tracks ETH held in exchange wallets.