Ethereum Today's Price: $2,400
- Ethereum closed June with negative returns, failing to react to bullish catalysts like strong ETF inflows and accumulation address activity.
- Geopolitical tensions and record CME Ethereum short positions contributed to price stagnation.
- A bearish crossover emerged on ETH's 12-hour chart after rejection at the critical $2,500 level.
Ethereum (ETH) dipped 3% Tuesday, continuing June's downtrend despite multiple bullish developments, including institutional ETF investments, record accumulation address purchases, and corporate ETH treasury launches.
Why Ethereum Failed to Rally Despite June's Bullish Catalysts
Ethereum ended June down 1.5%, per Cryptorank, compounding a 25% H1 loss—even as the month marked significant milestones:
- ETF Inflows: U.S. spot Ethereum ETFs recorded their second-best month with $1.16B net inflows, totaling just $39.98M in outflows over three days—a historic low.
- Accumulation Addresses: June saw the strongest monthly inflows to ETH accumulation addresses (new wallets with zero sell history), signaling high demand.
- Corporate Adoption: Companies like SharpLink Gaming (SBET), Bit Digital (BTBT), and BitMine (BMNR) launched ETH treasury strategies. Staked ETH also hit a record 35.52M ETH.
- Regulatory Wins: The bipartisan GENIUS Stablecoin Bill passed in the U.S. Senate, boosting sentiment for Ethereum, which hosts ~50% of the stablecoin market (DefiLlama).
Yet, ETH remained range-bound due to:
- Geopolitical tension (e.g., Israel-Iran nuclear tensions), which briefly crashed ETH to $2,110.
- Elon Musk's public clash with former President Trump over policy debates on platform X.
- Expanding basis trades: CME short positions grew alongside ETF inflows.
- Whale activity: EmberCN tracked one entity unstaking 95.3K ETH (68.1K sent to exchanges for potential selling).
Ethereum Price Forecast: Bearish Crossover After $2,510 Rejection
- Liquidations: $46.06M in ETH futures were liquidated in 24 hours ($40.1M longs, $5.96M shorts).
Key Levels:
- Support: $2,350 (200-SMA) → Breach could target $1,750.
- Resistance: $2,510 (rejection zone) → Breakout needed to retest the symmetrical triangle's upper boundary.
Indicators:
- Death cross (50-SMA < 100-SMA) signals weakening short-term momentum.
- RSI neutral; Stoch oscillator nearing oversold, suggesting bearish pressure.
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FAQ
Q: Will Ethereum ETFs drive long-term price growth?
A: Yes—institutional inflows typically create sustained demand, but short-term volatility persists due to macroeconomic factors.
Q: How does staking impact ETH's price?
A: Increased staking reduces circulating supply, potentially raising prices if demand remains steady.
Q: What’s the biggest risk to Ethereum’s price?
A: Geopolitical events and regulatory shifts could overshadow technical bullishness.