- Ethereum holds above $2,700, confirming a breakout and strong support at key Fibonacci levels.
- Staked ETH hits 34.8M, locking 29% of supply and signaling investor shift toward long-term holding.
- Weekly inflows of $295M and rising ETF interest reflect growing institutional confidence in ETH.
Ethereum has remained above a key support zone near $2,500 for five consecutive weeks. The asset has recently broken out of a consolidation range and is attracting renewed attention from institutional investors. Its strong technical performance, rising staking numbers, and ETF inflows are contributing to a growing positive outlook.
Ethereum Breaks Out and Holds Above Key Technical Levels
Ethereum has recently surpassed the $2,700 level, holding firmly above its 50% Fibonacci retracement. This area is now considered strong support. ETH also reclaimed its 200-day moving average at $2,660, marking a bullish technical development.
On June 10, Ethereum gained over 5%, rising to a 15-week high of $2,833 before pulling back slightly. ETH has maintained its position above $2,700 since then. Based on chart analysis from Captain Faibik, this breakout ends a five-week consolidation between $2,400 and $2,700. Ethereum also completed a bullish pennant pattern, which often signals trend continuation.
Peter Brandt, a veteran trader, posted that Ethereum may be on the verge of a “moonshot,” noting the recent congestion pattern. ETH’s bullish structure was further confirmed by a 50% rally between May 8 and May 13, followed by symmetrical triangle formation.
Institutional Activity and On-Chain Metrics Support Ethereum’s Momentum
Ethereum investment products saw $295.4 million in weekly inflows. This suggests growing confidence among institutional investors. BlackRock’s iShares Ethereum Trust has posted 23 straight trading days without outflows, further indicating steady demand.
At the same time, Ethereum staking has reached a record 34.8 million ETH. This locks nearly 29% of the circulating supply, reducing sell pressure. The rise in staking shows investor preference for holding ETH over short-term gains.
Ethereum has also benefited from ETF optimism. On June 9, ETH ETFs recorded $52.7 million in net inflows, while open interest in ETH futures hit $39.22 billion. Together, these metrics suggest that Ethereum is positioning itself well for sustained upward movement.
