Ethereum is consolidating near the $2,699 resistance, with strong support at $2,395 and $2,308.
Open interest and ETF inflows continue to grow, signaling institutional confidence in ETH’s long-term value.
A breakout above $2,745 could push ETH quickly toward the $2,900–$3,000 range.
Ethereum (ETH) remains in a consolidation phase above the key $2,600 level, trading at approximately $2,611 as of June 5, 2025. Despite a 0.54% daily decline, the second-largest cryptocurrency by market capitalization continues to exhibit strength amid positive macroeconomic sentiment and robust institutional inflows. With traders watching for a breakout, Ethereum is showing signs of momentum building, both in spot and derivatives markets.
Over the past month, Ethereum has gained over 45%, outperforming several major altcoins. This rally has been largely driven by strong fundamentals, including:
Rising institutional investment, particularly through ETFs and asset manager portfolios.
Expanding usage of Layer 2 scaling solutions, improving Ethereum's throughput, and reducing transaction costs.
Growing developer activity and ecosystem adoption, particularly in decentralized finance (DeFi) and real-world asset tokenization.
June 5 data from Pintu confirms Ethereum’s intraday high at $2,667.15 and a low of $2,606.05, indicating tight price action that often precedes significant moves.
Ethereum’s daily chart presents a clear picture of consolidation following a strong breakout in early May. The asset is currently hovering near the 0.5 Fib level at $2,699.30, a historically significant resistance area that has rejected several breakout attempts.
Ethereum’s daily chart presents a clear picture of consolidation following a strong breakout in early May. The asset is currently hovering near the 0.5 Fib level at $2,699.30, a historically significant resistance area that has rejected several breakout attempts.
The asset finds key support zones at multiple levels, starting with $2,395, which aligns with the 0.382 Fib level. Below this, the 200-day EMA at $2,308 serves as a critical long-term support level, having historically acted as a strong demand zone.
Further downside could see ETH revisit $2,019, corresponding with the 0.236 Fib level, which has previously attracted significant buying interest.
On the resistance side, Ethereum faces immediate overhead pressure at $2,699, the 0.5 Fib level, where several recent rally attempts have faltered. The range between $2,725 and $2,745 represents a major resistance zone that has consistently capped upward momentum.
Should ETH break above this band, the next psychological barrier lies around $2,800 to $2,900, a zone that could act as the gateway to a sustained rally.
Supporting the bullish case, Ethereum’s exponential moving averages, the 20-day ($2,340), 50-day ($2,400), and 100-day ($2,462) are all trending upward. This alignment suggests a healthy uptrend and signals that any pullback could be met with dip-buying interest at these dynamic support levels.
The Relative Strength Index (RSI) is currently reading at 61.40, placing it in neutral-to-bullish territory. While it is not yet overbought, this level indicates growing momentum, with room for further upside if buying volume increases.
The price structure is forming a consistent pattern of higher lows, signaling underlying accumulation. If Ethereum can achieve a decisive breakout above the $2,699 - $2,725 resistance range, it could trigger a swift rally toward the $2,900 - $3,000 mark, especially if supported by strong spot and derivatives volume.
Also Read: Will Ethereum Break Past the $3K Barrier This Time?
Data from Coinglass reveals a robust derivatives backdrop, with the following highlights:
Open Interest (OI): Up 1.80% to $36.61 billion, indicating increasing capital commitment.
Futures Volume: Rose 8.44% to $62.46 billion in the last 24 hours, suggesting heightened trader activity.
Options Volume: Dropped 15.02% to $669.36 million, possibly due to traders preferring direct exposure via futures during the consolidation phase.
Binance ETH/USDT: Long/Short ratio stands at 2.61, reflecting a strong bullish bias.
OKX ETH Long/Short: 1.86, reinforcing long positioning dominance across platforms.
The ETH open-interest-weighted funding rate remains positive, indicating that long traders are willing to pay to keep their positions open, a sign of bullish expectations.
Over the last 24 hours, ETH experienced $50.65 million in total liquidations, with long positions at $27.58 million and short positions at $23.08 million. This balance indicates healthy participation on both sides, although long positions slightly predominate.
Institutional Inflows and On-Chain Strength
Institutional participation continues to deepen:
BlackRock's Ethereum ETF recorded $73.2 million in inflows on June 5 alone.
Ethereum-based ETFs have attracted over $630 million in cumulative flows during the past 11 trading days.
On-chain activity has also increased, with a reported 5% rise in active addresses, reinforcing the thesis that ETH is entering an accumulation phase.
The Ethereum Foundation recently revealed its strategic shift for the next 18 months, aimed at streamlining operations and increasing focus on network development and DeFi engagement. The “Defipunk” initiative, which targets decentralized governance and innovation, is expected to attract more developers and institutional capital to the ecosystem.
Also Read: Ethereum Pectra Upgrade Exposes 97% of EIP-7702 Wallets to Auto-Drain Risk
With ETH consolidating above its 50-day EMA and bulls maintaining pressure at the resistance level, the path of least resistance appears to be upward, provided volume picks up. Key events to watch:
Breakout above $2,699 - $2,745: Could open doors to $2,900 - $3,000
ETF flow continuation: Sustained institutional interest may drive further upside
Macro signals: A dovish Federal Reserve or rising tech equities could boost ETH
Funding rates and OI shifts: A sudden spike in OI with flat funding could indicate overheating and risk of correction
Ethereum remains fundamentally and technically strong above the $2,600 mark. The combination of positive funding rates, increasing open interest, and persistent ETF inflows suggests a bullish bias, even as ETH consolidates under a key resistance zone. Should buyers push ETH above $2,745 with conviction, a larger breakout toward $3,000 and beyond is likely.
For traders and long-term investors, monitoring derivatives behavior, ETF inflows, and on-chain metrics will be crucial in anticipating Ethereum’s next big move in an increasingly institutionalized crypto landscape.