Spot ETH ETF net inflows totalled $861.3 million over the last two weeks.
Total ETH staked and accumulated are at all-time highs.
ETH price could rally toward the bull flag’s target of $4,100 if a key trendline breaks.
Ether’s
$2,507
price rose to a four-month high at $2,880 on June 11, before correcting to the current value at $2,550.
Several analysts said a key resistance remains at $2,800, and the price needs to flip this into support to trigger a “violent move upward.”
“Ethereum price price action is compressing right below this big $2.8K level,” said popular crypto analyst Daan Crypto Trades in a June 16 post on X
The trader asserted that a decisive close above this level would be a “good setup” for a move higher.
“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
Fellow analyst Jelle shared a chart showing ETH price compressing a tight range below a key resistance level above $2,800 and said:
“Generally speaking, these structures only end in one way; a strong and violent move.”
Several bullish signs suggest that ETH is well-positioned to break above $3,000 in the following days or weeks.
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