Ethereum’s $2.8K Dilemma: Will Bulls Unleash a Crypto Tsunami? 🌊💰

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Key takeaways:

  • Ah, the sweet scent of money! Spot ETH ETF net inflows have reached a staggering $861.3 million over the last fortnight. 💸

  • ETH staked and accumulated? At an all-time high, my dear reader! It seems the bulls are gathering strength. 🐂

  • Should the stars align, ETH price might just gallop towards the bull flag’s target of $4,100. A mere trendline break could set the stage! 🌟

On June 11, Ether (ETH) danced to a four-month high of $2,880, only to stumble back to a modest $2,550. Such is the life of a cryptocurrency! 🎢

Analysts, those ever-optimistic seers, proclaim that a key resistance lurks at $2,800. To trigger a “violent move upward,” this price must transform into support. A tall order, indeed! 😅

“Ethereum price action is compressing right below this big $2.8K level,” remarked the ever-astute Daan Crypto Trades in a post on X. A decisive close above this level, he claims, would be a “good setup” for a higher leap. 🏆

“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.”

Our friend Jelle, with a chart in hand, noted the ETH price compressing in a tight range below the key resistance level. He quipped:

“Generally speaking, these structures only end in one way; a strong and violent move.”

Several bullish signs suggest that ETH is poised to break above $3,000 in the coming days or weeks. Fingers crossed! 🤞

Continued spot ETF inflows back ETH upside

One factor supporting Ether’s bullish argument is the persistent institutional demand, reflected by significant inflows into spot Ethereum exchange-traded funds (ETFs). Who knew finance could be so exciting? 🎉

Spot Ether ETFs enjoyed 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. Talk about a comeback! 💪

As CryptoMoon reported, these inflows have been the highest since January 2025, reflecting growing confidence among traditional finance players, despite initial market panic from the Israel-Iran conflict. Who said crypto was boring? 😏

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. A veritable treasure chest! 🏴‍☠️

This growth signals rising confidence and a continued drop in liquid supply. Scarcity, my friends, can drive prices up if demand holds or grows. Economics 101! 📈

In a June 16 QuickTake, CryptoQuan’s analyst OnChainSchool pointed out that Ether’s accumulation addresses (those 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. Quite the hoard! 🏺

This signals strong investor confidence and minimal selling pressure, often a precursor to price rallies. The analyst mused:

“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 CryptoMoon 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. A classic tug-of-war! ⚔️

ETH bulls must reclaim the 200-day SMA to ensure a sustained recovery toward $3,000 and beyond. The stakes are high! 🎯

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. History has a way of repeating itself! 📜

The bull flag pattern, on the other hand, indicates a potential breakout toward $3,900, as shown in the chart below. Will it be a glorious ascent? 🏔️

As CryptoMoon reported, Ether’s breakout from a cup-and-handle chart pattern could result in 51% gains to $4,200. Now that’s what I call a cup half full! ☕

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2025-06-19 19:10