Ethereum has exited a multi-month downtrend channel after defending critical support levels between $2,400 and $2,500.
Spot ETH ETFs in the US recorded 15 straight days of inflows totaling $837 million, reflecting rising institutional participation.
The Bollinger Bands show Ethereum consolidating above key moving averages, hinting at continued strength and a potential upward move.
Ethereum has officially broken out of a long-term downtrend channel, confirming a shift in technical momentum. This move followed several successful holds of the $2,400 to $2,500 support range, where buying activity remained steady during recent market pullbacks.
Supporting the technical setup, United States-based spot Ethereum exchange-traded funds (ETFs) recorded inflows for 15 consecutive trading days. Since May 16, these products have attracted a total of $837 million, with $25.3 million added on June 6 alone. Since launch, the cumulative inflow now exceeds $3.32 billion.
Resistance levels in focus as rally attempts continuation
With the downtrend broken, Ethereum faces its next challenge in the $2,800 to $2,900 resistance zone. This level remains a key area where previous rallies have stalled. A successful breach could position the asset for a retest of the $3,000 level, with some technical projections pointing toward the $4,000 area as the next major target by year-end.
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Unlike Bitcoin, whose spot ETFs have seen inconsistent flow patterns in recent weeks, Ethereum’s sustained inflows highlight a possible rotation in institutional focus. Analysts note that consistent interest from asset managers may be driven by Ethereum’s expanding role in smart contracts and decentralized applications.
Technical indicators confirm buyer strength
Bollinger Bands on Ethereum’s daily chart show the price stabilizing above the 20-day simple moving average near $2,560. The narrowing band structure suggests reduced volatility, often a precursor to a stronger directional move. The price holding within the upper half of the band range indicates underlying strength during this consolidation phase.
Ethereum is currently doing well because there is strong support from both technical and fundamental indicators. Analysts see that the price rise past the trendline and steady inflow of money from ETFs make Ethereum’s bullish stand stronger.
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