EthereumS Price Holds Steady, Signals Bullish Momentum
Ethereum’s price is currently stable, hinting at a potential rise. As of July 5, ETH was valued at about $2,500. It has been in this range sence May. However,there are signs of a bullish trend emerging.
Investors are showing more interest in Ethereum. Data reveals that large investors and financial institutions have been buying more ETH. SoSoValue reports that spot ETH ETFs gained over $219 million in assets this week. This marks teh eighth week of continuous inflows, suggesting a positive outlook. These investors believe in Ethereum’s future growth.
Whales, or big players, are also accumulating ETH. Addresses holding between 10 million and 100 million tokens now hold 64 million ETH. This is a strong signal of confidence in the cryptocurrency. The supply on exchanges has dropped to 7.3 million tokens. This is down from 10.73 million in February. Fewer tokens on exchanges mean more people are keeping their ETH in wallets.This shift shows a move towards long-term holding. The supply held by top addresses has hit a new high of 75.6 million tokens.This trend started in May and continues to grow.
Staking ETH is becoming popular.StakingRewards data shows a net increase of 2 million coins, worth over $4 billion, in staking pools. This increase has pushed the staking ratio to 29.45% and the staking market cap to nearly $90 billion. The ETH outflow from exchanges, coupled with rising staking, signals a shift from short-term trading toward long-term holding and yield generation. It reflects increased trust in Ethereum’s ecosystem, rising decentralization, and a maturing investor base.
Ethereum price technical analysis ETH price chart | Source: crypto.news The daily chart shows that Ethereum price has remained in a tight range since May this year. The accumulation and distribution indicator has continued rising and is hovering near its highest level this year.Ethereum has formed a bullish flag pattern, comprising a vertical line and a horizontal consolidation. This pattern frequently enough leads to a strong bullish breakout, equivalent to the height of the flagpole. In this case, the flagpole has a height of about 52%, and measuring it from the breakout point gives a target price of $4,287. Gains to that target level will be confirmed if it rises above last year’s high of $4,100. The bullish Ethereum price forecast will become invalid if it drops below the psychological point at $2,000.
