Ethereum Price Compression Near $2.8K Could Trigger Violent Rally
Ethereum Price – Ethereum (ETH) has drawn significant attention from institutional investors, with spot ETH ETFs recording net inflows of $861.3 million over the past two weeks. Despite a brief pause last Friday, inflows resumed strongly, logging three consecutive days of gains, including $19 million on Wednesday. According to data from Farside Investors, these are the largest inflows since January, reinforcing growing confidence in Ethereum’s long-term potential from traditional finance.
ETH Staking and Accumulation at All-Time Highs
On-chain metrics show that staked ETH surpassed 35 million coins, with over 500,000 ETH added since June 1. This signals increased investor confidence and contributes to decreasing liquid supply, a critical component in upward price pressure.
Furthermore, accumulation addresses — wallets with no history of selling — now hold 22.8 million ETH, worth approximately $58 billion. CryptoQuant’s OnChainSchool noted this as a clear sign of minimal selling pressure and long-term conviction.
Key Technical Levels and Bullish Patterns
ETH recently hit a four-month high at $2,880 on June 11 before pulling back to around $2,550. Analysts identify $2,800 as a key resistance level, with Daan Crypto Trades suggesting a decisive close above $2.8K could trigger a “violent move” toward cycle highs of $4,000.
Ethereum is currently trading between two critical trendlines: the 200-day SMA at $2,600 (resistance) and the 50-day SMA at $2,450 (support). Reclaiming the 200-day SMA could pave the way for a breakout.
Chart formations such as the bull flag and cup-and-handle suggest potential upside targets between $3,900 and $4,200, if bullish momentum continues.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
