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Bullish Outlook Despite Bearish Daily Cross
Cryptocurrency
Summary:
Ethereum prices are undergoing a pullback and may retreat to $2,500 before another upward correction. The potential for a golden cross in Ethereum prices may signal strong buying momentum. Timing and market conditions are crucial for the next move.
Buy
TradingETH-USDT
EXP
2551.70
Entry Price
3285.00
TP
2270.00
SL
2551.61 -80.47 -3.06%
0
Point
Flat
2270.00
SL
CLOSING
2551.70
Entry Price
3285.00
TP
Fundamentals
Last week, Ethereum prices broke through the previous high of $2,788 before experiencing another pullback. This pullback occurred against the backdrop of strong selling pressure following a successful breakout.
Recently, Ethereum prices have seen a volatile market within the range of $2,400 to $2,800. Despite significant price fluctuations, market sentiment remains optimistic. The pullback is viewed as a necessary measure to gain more liquidity before the next rally. The strong support above $2,400, evidenced by long-term investors' buying on dips, underscores this point.
On the fundamental front, increased whale activity on the Ethereum network may serve as a positive indicator for the cryptocurrency's future trajectory. A report from Santiment reveals that Ethereum whales held a total of 1.49 million ETH, valued at $38.26 million, over the past 30 days. This indicates a 3.72% increase in the total holdings of investors with 1,000 to 100,000 ETH.
The increase in whale activity is considered a bullish signal, as these large holders typically accumulate assets in anticipation of long-term price appreciation. These whales are lining up to prepare for the next significant price surge, which may propel Ethereum prices to break through previous resistance levels.
Although Ethereum's trading prices have primarily fluctuated between $2,400 and $2,800, the substantial increase in whale activity suggests that the cryptocurrency is laying the groundwork for future price appreciation. Despite a 2.38% decline in Ethereum prices over the past 30 days, the outlook remains optimistic.
Data indicates that US investors are aggressively buying Ethereum, as evidenced by the substantial growth in Ethereum ETFs. According to SoSoValue, Ethereum spot ETFs have recorded inflows for five consecutive weeks. Last week, these funds saw cash inflows of $528 million, compared to $281 million the previous week. This growth has brought the total net inflows to $3.85 billion, with the total assets held by these funds now exceeding $10 billion.
Technical Analysis
A golden cross occurs when the MA50 moves above the MA200, a classic bullish signal in technical analysis. For Ethereum, this formation has historically led to significant price surges. The last time ETH formed this pattern, it soared by approximately 35% within just three weeks, highlighting its importance to investors.
Currently, the MA50 and MA200 of Ethereum prices are rapidly converging. If Ethereum prices hold the current support level and trading volume maintains upward momentum, a golden cross is likely. However, key resistance zones and macroeconomic conditions remain critical.
Trading Recommendations
Trading Direction: Long
Entry Price: 2553
Target Price: 3285
Stop Loss: 2270
Deadline: July 01, 2025, 23:55:00
Support: 2492/2408/2325
Resistance: 2738/2788/2880
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