Key takeaways:
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Spot ETH ETF net inflows totalled $861.3 million over the last two weeks.
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Total ETH staked and accumulated are at all-time highs.
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ETH price could rally toward the bull flag’s target of $4,100 if a key trendline breaks.
Ether’s (ETH) price rose to a four-month high at $2,880 on June 11, before correcting to the current value at $2,550.
Several analysts said a key resistance remains at $2,800, and the price needs to flip this into support to trigger a “violent move upward.”
“Ethereum price price action is compressing right below this big $2.8K level,” said popular crypto analyst Daan Crypto Trades in a June 16 post on X
The trader asserted that a decisive close above this level would be a “good setup” for a move higher.
“If we see a convincing break above $2.8K and hold there, that would be a good setup for a move to the cycle highs around $4K.”
Fellow analyst Jelle shared a chart showing ETH price compressing a tight range below a key resistance level above $2,800 and said:
“Generally speaking, these structures only end in one way; a strong and violent move.”
Several bullish signs suggest that ETH is well-positioned to break above $3,000 in the following days or weeks.
Continued spot ETF inflows back ETH upside
One factor supporting Ether’s bullish argument is persistent institutional demand, reflected by significant inflows into spot Ethereum exchange-traded funds (ETFs).
Related: Ether price stable near $2.4K as crypto investors bet on long-term growth
Spot Ether ETFs saw a 19-day inflow streak before it broke on June 13, but rebounded with three consecutive days of fresh inflows between June 16-18, including over $19 million on Wednesday. These investment products have seen net inflows totaling $861.3 million over the last two weeks, as per data from Farside Investors.
As Cointelegraph reported, these inflows have been the highest since January 2025 and reflect growing confidence among traditional finance players, despite initial market panic from the Israel-Iran conflict.
Staked ETH and accumulation addresses hit new highs
Ether staked increased by more than 500,000 ETH between June 1 and June 15, pushing the total locked amount to a new all-time high of over 35 million ETH.
This growth signals rising confidence and a continued drop in liquid supply. This creates scarcity that can drive prices up if demand holds or grows.
In a June 16 QuickTake, CryptoQuan’s analyst OnChainSchool also pointed out that Ether’s accumulation addresses (holders with no history of selling) have also reached an all-time high, now holding 22.8 million ETH worth approximately $58 billion at current rates.
This signals strong investor confidence and minimal selling pressure, often a precursor to price rallies.
The analyst said:
“These two metrics combined position Ethereum as one of the strongest crypto assets in terms of long-term fundamentals and investor conviction.”
ETH price needs to flip the 200-day SMA trendline
Data from Cointelegraph Markets Pro and TradingView shows that ETH price is stuck between two key levels: the 200-day simple moving average (SMA) at $2,600 acting as resistance and the 50-day SMA at $2,450 as support.
ETH bulls were required to reclaim the 200-day SMA to ensure a sustained recovery toward $3,000 and beyond.
The last time the BTC price broke above this trendline, it rallied 40% from $3,130 on Nov. 9, 2024, to its multi-year high of $4,100 on Dec. 15, 2024.
The bull flag pattern, on the other hand, indicates a potential breakout toward $3,900, as shown in the chart below.
As Cointelegraph reported, Ether’s breakout from a cup-and-handle chart pattern could result in 51% gains to $4,200.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
