"#إيثريوم to test the highs and continue to rise."
Ethereum Foundation transfers a large amount of $ETH .
Ethereum ETF funds register significant inflows.
Trader and cryptocurrency analyst Michael van de Poppe shared his predictions for future Ethereum price movements on his social media account.
"Ethereum to test the highs and continue to rise."
Bobby shared a chart of ETH/BTC, noting that the second-largest cryptocurrency saw "strong upward movement" in both April and May. He also observed that Ethereum re-tested the order block (OB) in May, which was a key support level.
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This line on the chart indicates a zone where there has historically been significant buying interest. Therefore, breaking through this area suggests potential price growth in the future and the asset trending towards the highs it reached in the past.
The analyst tweeted: "This means we are about to test the highs and continue to rise." Currently, Ethereum is trading at 0.02463 Bitcoin or $2,601 per coin.
Ethereum Foundation transfers a large amount of ETH.
Earlier today, the Ethereum Foundation caused a stir within the community by transferring 1,000 ETH worth about $2.6 million to an unknown address. This transaction raised suspicions and speculation that the foundation is selling ETH again with the risk of pushing the ETH price down.
Some commentators on an X post by the analysis account look_onchain tagged the smart chat bot Gr_ok, asking for an explanation for this movement in ETH by the Ethereum Foundation - specifically questioning whether a massive sell-off of Ethereum is forthcoming.
Ethereum ETF funds register significant inflows.
On May 29, the Ethereum spot ETFs experienced significant inflows, totaling +30,183 ETH worth approximately $80.4 million. The largest amount of ETH was purchased by BlackRock's iShares #Ethereum Trust - 19,977 ETH. Positive inflows also reached two other exchange-traded investment funds, namely the Fidelity Ethereum Fund and the VanEck Ethereum Fund. The former absorbed 9,740 ETH, while the latter received 1,098 ETH. The rest of the funds either saw zero or negative inflows.
Overall, BlackRock saw weekly inflows of 52,668 ETH. Fidelity absorbed a total of 26,973 ETH this week.
