Ether
ETH$2,518.60
It is trading above $2,540 and shows strong resilience in the face of market turbulence driven by increased geopolitical risks. According to Coindesk Research’s technical analysis model, ETH recovered quickly after a brief fall to $2,491.72, closing high at above average volume, validating key support of nearly $2,500.
Technical indicators suggest new momentum supported by the formation of a double bottom and the massive purchase of nearly $2,530. Interest for the ETH Open reached $353.6 billion as of UTC at 6:05pm on June 16, indicating aggressive institutional positioning.
However, U.S.-listed Spot Ethereum ETFS ended its 19-day record inflow streak after seeing a net spill of $2.1 million on Friday, according to data from Farside investors. Nevertheless, ETH continues to hold the $2,500 to $2,800 range, suggesting that bullish sentiment remains the same for now.
It is a press release issued Thursday by Ether Alliise that will help support the story. The statement announced the publication of The Bull Case for ETH, a comprehensive report supported by ecosystem leaders such as Danny Ryan, Grant Hammer and Vivek Raman. The report argues that Ethereum is becoming an important foundation for the digitally native global financial system.
The report says that the global economy is undergoing generational change, with financial assets moving more and more. Ethereum is positioned as the main payments layer that enables this conversion for decentralization, security and uptime. The report states that Ethereum already drives more than 80% of all tokenized assets, and is the default infrastructure for stablecoins and in-facility blockchain deployments.
Ethereum’s native asset, Eth is described not only as a valuable storage, but also as an infrastructure that supports programmable collateral, calculated fuel, and yield. The report argues that ETH is very low in price compared to its long-term utility, and it is a “digital oil,” a productive reserve asset that underpins a configurable global financial ecosystem. ETH argues that it should be at the heart of the institution’s long-term digital asset strategy that complements Bitcoin’s role as digital gold.
In short, although macro conditions remain unstable, Ethereum’s market behavior suggests that ETH could form a durable foundation for future breakouts, with continued institutional involvement and expanding role as a financial infrastructure.
Technical Analysis Highlights
- ETH traded between $2,500.43 and $2,554.69, closing out the session’s high at $2,542.
- A double-bottom construction developed for nearly $2,495-2,510 supported by above average volumes.
- The resistance was tested at $2,553, but a strong hourly end with 158,553 ETH volume signals left momentum.
- The V-shaped bounce followed a low at $2,529 driven by spikes at 13:43 and 13:46.
- Continuous purchases could push ETH up to a short term of between $2,575 and $2,600.
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