Ethereum (ETH) Price Prediction: June Breaks Key Milestone, But Prices Remain Stagnant

Gate news, on Wednesday (July 2), Ethereum fell 4% to $2401, continuing the downward trend since June, despite some key bullish catalysts this month, including the inflow of high-value ETF (, record purchases by accumulation addresses, and the launch of Ethereum national bonds by listed companies. However, the decline in June still ended on a negative note.

Why did Ethereum fail to rebound during the significant bullish trend in June?

According to data from Cryptorank, Ethereum fell by 1.5% at the end of June, despite reaching several important milestones during the month, the performance for the first half of the year still dropped by 25%.

In June, the U.S. spot Ether ETF recorded its second-best monthly performance since its launch, with a net inflow of $1.16 billion, and only three trading days had an outflow totaling $39.98 million, marking the lowest monthly outflow in history.

![])https://img.gateio.im/social/moments-87a9b3933a-c9b1b4bab9-153d09-7649e1(

(Source: SoSoValue)

In addition, June also set a record for the highest monthly inflow of Ethereum accumulation addresses in history, as shown in the figure below, indicating strong demand. Accumulation addresses (usually new wallets) are addresses that have never recorded any outflow or selling activity.

![])https://img.gateio.im/social/moments-87a9b3933a-3e1e30dd17-153d09-7649e1(

(Source: CryptoQuant)

This month, several publicly traded companies such as SharpLink Gaming (SBET), Bit Digital (BTBT), and BitMine (BMNR) have also launched Ethereum fund management strategies. Meanwhile, the total value of staked ETH on Ethereum has steadily grown, reaching a historic high of 35.52 million ETH.

In addition, according to data from DefiLlama, the "GENIUS Act" has received bipartisan support in the U.S. Senate, boosting confidence in the Ethereum blockchain as it occupies nearly 50% of the stablecoin market.

Even with these bullish catalysts (which usually stimulate price increases), Ethereum has failed to maintain its upward trend. Some potential reasons for the range volatility of ETH amidst bullish momentum include geopolitical tensions casting a shadow over the entire cryptocurrency market. Affected by the Israel-Iran nuclear attack incident, ETH lost a key support level, briefly falling to $2,110, negating the potential bullish structure that had been in place for several days.

In June of this year, Tesla CEO Elon Musk clashed with President Trump on the social media platform X over the "Beautiful Big Bill," and ETH reacted negatively to this. Following the bill's passage in the Senate, tensions between billionaire Musk and Trump have escalated once again. Additionally, investors seem to be expanding ETH basis trading, and with the inflow of ETH ETF, short positions on the CME are also increasing.

At the same time, the smart wallet tracker EmberCN also noticed that a key whale/institution has withdrawn 95.3K ETH from staking in the past three weeks, and has sent 68.1K ETH to the exchange for potential sale.

Ethereum Price Prediction

Coinglass data shows that in the past 24 hours, the Ethereum futures liquidation amount reached 46.06 million dollars, of which the long liquidation amount was 40.10 million dollars and the short liquidation amount was 5.96 million dollars.

On Monday, ETH continued to consolidate in the narrow range of $2,300 to $2,500 after being rejected near the key level of $2,510, with bears holding this level over the past week.

At a price slightly above $2,510, the 50-period Simple Moving Average (SMA) has fallen below the 100-period SMA, indicating that a death cross signal may occur in the short term. A death cross is a lagging indicator that shows short-term price momentum is weaker than long-term momentum.

Under the influence of this signal, if ETH fails to hold the support level around $2,350, it may bounce off the lower boundary line of the symmetrical triangle formation and be reinforced by the 200-period moving average. However, if it subsequently breaks below these key levels and the support level of $2,110, it may lead to ETH falling towards $1,750.

On the positive side, ETH must overcome the resistance near the 50-period and 100-period SMA to retest the upper boundary of the symmetrical triangle.

The Relative Strength Index ) RSI ( is fluctuating near neutral levels, while the Stochastic Oscillator has fallen into the oversold region, indicating that bearish momentum is strengthening.

![])https://img.gateio.im/social/moments-87a9b3933a-09e863a2b2-153d09-7649e1(

(Source: Trading View)