Ethereum has broken out of a long-term downtrend channel on its price chart.
Spot ETH ETFs have seen 15 consecutive days of inflows, totaling over $837 million.
This convergence of technicals and fundamentals points to a strong bullish outlook.
A powerful convergence of a major technical breakout and relentless institutional demand is building a strong bullish case for Ethereum (ETH). According to an analysis by crypto analyst IncomeSharks, Ethereum has decisively broken out of a long-term downtrend channel, a move that is being supported by a powerful, 15-day winning streak of inflows into spot ETH ETFs.
The technical breakout follows multiple successful defenses of the critical $2,400–$2,500 support zone. With the downtrend now broken, key resistance sits in the $2,800–$2,900 range. The analysis suggests this zone could be the final barrier before a significant retest of the $3,000 level and a potential rally toward the $4,000 resistance area from late 2024.
$ETH – Support held, the plan to hold remains unchanged. 3 entries in profit, 3 at a loss. pic.twitter.com/hdlEWWD0Ai
— IncomeSharks (@IncomeSharks) June 8, 2025
Spot ETF Inflows Top $837M i…
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