TLDR
- Ethereum is trading at $2,575, up 1.5% in the past 24 hours
- ETH recently tested the $2,440 zone and has started a recovery wave
- Whale and institutional investors have added 1.49 million ETH in the past month
- BlackRock’s iShares Ethereum Trust has accumulated more than 1.5 million ETH worth about $4 billion
- Technical indicators show ETH could move above the $2,620 resistance level
Ethereum, the second-largest cryptocurrency by market value, is showing signs of recovery after a recent decline that brought its price down to the $2,440 zone. The digital asset is currently trading at $2,575, representing a 1.5% increase over the last 24 hours.
The price movement comes as large investors, often referred to as whales, have been accumulating Ethereum. According to data from Santiment, wallets holding between 1,000 and 100,000 ETH have added 1.49 million ETH in the past month, bringing their total share of the ETH supply to 26.98%.
Trading activity around Ethereum has increased sharply. Daily spot trading volume rose over 32% to $14.27 billion, while futures trading volume jumped 26.46% to $53.09 billion. Open interest in ETH futures has also increased by 1.20% to $35.13 billion, suggesting that more traders are placing new bets.
ETH price has been trading between $2,473 and $2,869 over the past week. This occurred during a time when global markets have experienced uneasiness due to the ongoing conflict between Israel and Iran.
The cryptocurrency started a fresh decline below the $2,750 and $2,620 levels, similar to Bitcoin’s movement. It even traded below the $2,500 level and tested the $2,440 support zone.
A low was formed at $2,441, after which the price began a recovery wave. There was a move above the $2,500 and $2,520 levels, with the price surpassing the 23.6% Fibonacci retracement level of the downward move from the $2,880 swing high to the $2,441 low.
Institutional Interest Grows
Institutional demand for Ethereum remains strong. BlackRock’s iShares Ethereum Trust has accumulated more than 1.5 million ETH, worth approximately $4 billion. The trust purchased almost $240 million worth of Ethereum between June 3 and June 6.
This month alone, BlackRock has added more than $500 million in Ethereum. Other companies, such as Cumberland and Galaxy Digital, are also expanding their ETH holdings, indicating robust interest from major institutional players.
On the technical side, Ethereum is trading just below its 20-day average and moving within a tighter price range. Bollinger Bands are starting to narrow, indicating that volatility is compressing ahead of a potential breakout.
The relative strength index is neutral at 52, but the increasing volume and whale activity may help push the price higher. The hourly MACD for ETH/USD is gaining momentum in the bullish zone, while the hourly RSI is now above the 50 zone.
Technical Outlook
There was a break above a contracting triangle with resistance at $2,550 on the hourly chart of ETH/USD. The price could face resistance near the $2,585 level, with the next key resistance near $2,620.
The first major resistance is near the $2,660 level, which is close to the 50% Fibonacci retracement level of the downward move from the $2,880 swing high to the $2,441 low.
A clear move above the $2,660 resistance might send the price toward the $2,720 resistance. If it breaks above $2,720, Ether could rise toward the $2,800 resistance zone or even $2,880 in the near term.
🐳 There are currently 6,392 wallets holding between 1K and 100K Ethereum. Over the past month alone, these key whale and shark wallets have rapidly added more coins as retail traders have taken profit.
During these past 30 days, a net of +1.49M more $ETH has been accumulated by… pic.twitter.com/1hPBTuAOrL
— Santiment (@santimentfeed) June 13, 2025
On the downside, if Ethereum fails to clear the $2,620 resistance, it could start a fresh decline. Initial support is near the $2,540 level, with the first major support at the $2,500 zone.
A move below $2,500 might push the price toward the $2,440 support. Further losses could send the price toward the $2,420 support level, with the next key support at $2,350.
The recent surge in whale inflows and institutional interest suggests that ETH might be preparing for a breakout above the $2,600 level. The next major resistance zone is around $2,870, and a close above that would open the door toward $3,000.
