Ethereum forms higher lows near $2,440 as price rebounds from oversold stochastic levels, signaling short-term demand.
ETF inflows continue rising while hedge fund shorts on CME weigh on ETH’s price, creating a bullish pressure buildup.
Ethereum holds its structure inside the $2,420–$2,780 base, setting the stage for a potential breakout above $2,680.
On the CME, Ethereum continues to stay steady above important support levels despite increasing hedge fund short interest. The price movement, inflows, and momentum indicators are being observed by analysts as Ethereum settles into a well-known range.
Price Patterns Reveal Familiar Structure
Ethereum continues trading between $2,340 and $2,610, forming repeated higher lows on the 12-hour chart. Traders have observed notable reactions at $2,400 and $2,450, which remain key demand zones in this structure. A tightening price coil is developing while momentum indicators begin curling upward from oversold territory.
Tracking market rhythm across the current range, Ethereum has posted short bursts of $100–$150 after each reset. This behavior has followed consistent bullish reaction candles forming off support near $2,440. Ethereum's stochastic oscillator just printed a golden cross, a pattern that in the past coincided with local lows. On May 20, May 28, June 5, and June 11, this pattern also formed; each of these occurrences was a short-term rally that confirmed trend support. These momentum movements are suggestive of new buyer interest and an advancing price rhythm.
Source: (X)
Ethereum’s structure continues to show commitment to higher lows, with its latest swing low forming near $2,438. Although there is still significant resistance at $2,680, this action favors a slow push toward $2,600–$2,650. The upper limit of the current range may be reclaimed by short-term bulls if Ethereum keeps its structure.
Consolidation Aligns With Macro Sentiment
Ethereum remains inside a Stage 3 basing zone defined by a range between $2,420 and $2,780. This entire structure has formed above the April breakout base, showing clear technical support and bullish alignment. Volume has decreased in this range, which typically reflects a waiting period before the next leg emerges.
Price behavior shows Ethereum retesting the lower band near $2,420 without breaking structure. Despite short-term rejection candles above $2,600, Ethereum has held the mid-base support cleanly. The exponential moving average on the daily chart has flattened, reflecting slowing momentum without invalidating the range’s bullish formation.
Source: (X)
On-chain inflows into ETH ETFs have been rising consistently over recent weeks, confirming strong institutional participation. Yet, record-high short positions by hedge funds on CME continue weighing on immediate price action. This imbalance between demand and positioning reflects a suppressed market setup with bullish potential once resistance breaks.
Ethereum’s technical roadmap remains active, with traders tracking structure, momentum signals, and liquidity behavior closely. Ethereum continues consolidating above major supports, hinting at an incoming expansion. Analysts are watching the $2,420–$2,780 range for signs of confirmation or breakdown before positioning for what’s next.
