Ethereum has traded below the $2,681 resistance level for over a month. Despite this, its price has remained stable, showing little volatility.
Large Investors Start Accumulating Ethereum
Since early June, investor interest in Ethereum has increased. Data shows that investors bought more than 300,000 ETH, worth about $778 million. This marks a clear shift from the consistent selling seen at the end of May.
A major contributor to this trend is Consensys, which reportedly purchased over $300 million worth of ETH from Galaxy Digital, according to data from Arkham. This move signals strong confidence in Ethereum’s long-term value. As more large investors like Consensys enter the market, it boosts overall trust in ETH.
Exchange Data Confirms Growing Demand
According to Glassnode, Ethereum’s Exchange Net Position Change has turned positive in early June after a long period of negative readings. This means more ETH is leaving exchanges than entering. The red bars in May show strong outflows, signaling sustained accumulation by investors.
The return to positive values in June suggests that the selling pressure may have eased. As ETH moves into private wallets, it becomes less likely to be sold quickly, reducing supply on exchanges. This behavior typically reflects long-term holding strategies and growing investor confidence in Ethereum’s price outlook.
On-chain data from IntoTheBlock shows a strong demand zone between $2,378.45 and $2,454.85. In this price range, over 65.11 million ETH is held by around 2.46 million addresses. This cluster forms a heavy support level beneath the current price of $2,610.44. The large green bubble on the chart confirms strong investor positioning in this area.
Since so much ETH was bought in this zone, many holders are still in profit. This reduces the chances of panic selling if the price drops slightly. As a result, this demand zone acts as a buffer against downward pressure, helping stabilize Ethereum’s price action.
The IOMAP chart shows that very few holders in this demand zone are likely to sell. Because of this, Ethereum faces limited downside pressure. As long as accumulation continues and sellers remain inactive, Ethereum’s price may soon break out of its consolidation range.
In summary, Ethereum’s stable price, strong support zone, and increased accumulation by major players signal a shift toward bullish momentum.
Ethereum Forms Ascending Channel, Targets 47% Rally Toward $3,619 After Trump–Musk Clash
On June 6, 2025, the Ethereum to U.S. Dollar (ETH/USD) pair on the 4-hour chart formed an ascending channel pattern. An ascending channel appears when the price moves between two upward-sloping parallel trendlines, usually signaling a bullish continuation.
If the pattern confirms, Ethereum’s price could rally 47 percent from the current level of $2,460 to the projected target of $3,619. This target matches the horizontal resistance marked in blue on the chart.
Earlier today, ETH briefly dropped 5 percent below the lower channel boundary but quickly recovered 3 percent. The sudden dip likely followed the Trump–Musk conflict, after Donald Trump threatened to cut Elon Musk’s government subsidies. The statement spooked markets and triggered sharp downside moves in major crypto assets, including Bitcoin.
Still, Ethereum rebounded fast, showing strong buying interest. It now trades just under the 50-period Exponential Moving Average (EMA) at $2,570.4. If bulls push the price above this line with higher volume, it could confirm the breakout setup.
Trading volume has already picked up during the bounce, pointing to renewed accumulation. If ETH breaks above the upper red trendline of the channel, the price may aim for $3,619 in the coming sessions.
Ethereum RSI Dips to 36 After Sell-Off, Signals Possible Recovery Ahead
Currently, the RSI value is 36.20, which places it in the oversold zone. Any RSI reading below 40 often signals weakening momentum and selling pressure. It suggests that Ethereum recently experienced a sharp drop in buying strength.
Earlier, the RSI crossed under the moving average line (49.88), confirming the bearish momentum. However, the curve shows a slight upward bend, hinting that buyers may be returning after the panic dip—likely tied to external events such as the Trump–Musk tension affecting market sentiment.
If the RSI climbs back above 40 and eventually crosses the average line, it would signal a potential shift back to bullish strength. Until then, the RSI shows that ETH is in recovery mode from oversold conditions.
Ethereum DMI Shows Bearish Momentum with Moderate Trend Strength on 4H Chart
This chart shows the Directional Movement Index (DMI) for Ethereum (ETH/USD) on the 4-hour timeframe, updated on June 6, 2025.
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+DI (blue): 12.91
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–DI (red): 21.53
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ADX (orange): 31.03
The –DI line (red) is above the +DI line (blue), signaling that sellers are still in control of short-term momentum. However, both directional indicators remain relatively low, suggesting weak trend strength from either side.
Meanwhile, the Average Directional Index (ADX), which measures the strength of the trend, is at 31.03. Since ADX is above 25, it confirms that the current bearish trend has some strength—but it’s not extremely strong or decisive.
A sharp rise in the ADX without a strong divergence between +DI and –DI would mean the market is moving with more conviction but lacks clear direction. If +DI crosses back above –DI with a rising ADX, it could signal a bullish reversal.
For now, bears have the upper hand, but trend strength remains moderate. Traders may watch for a crossover between the DI lines to anticipate the next move.
