Ethereum (ETH) is drawing renewed attention from both institutional and retail investors as significant accumulation activity hints at a potential price breakout. Over the past month, ETH has traded in a tight range below the $2,681 resistance, but recent buying trends suggest a shift in market sentiment that could set the stage for a new rally.
Institutional Confidence Grows
A major highlight in recent weeks is the aggressive accumulation of Ethereum by large players. Notably, Consensys made headlines by acquiring over $300 million in ETH from Galaxy Digital, signaling strong conviction in Ethereum’s long-term value. Since the start of June, investors have collectively purchased more than 300,000 ETH—worth approximately $778 million—demonstrating growing confidence in the asset’s future .
Strong Demand Zones Provide Stability
On-chain data reveals a robust demand zone between $2,378 and $2,454, where over 65 million ETH (valued at nearly $169 billion) are held. This concentration of holdings acts as a buffer against sharp price declines, reducing the likelihood of significant sell-offs and providing a foundation for bullish sentiment. The lack of selling pressure from these holders further supports price stability and the potential for upward movement.
Ethereum Exchange Net Position Change. Source: Glassnode
Key Levels to Watch
Currently, Ethereum is trading around $2,611, just below the critical resistance at $2,681. If ETH maintains support above $2,583 and breaks through the $2,681 barrier, analysts anticipate a move toward the next resistance at $2,814 . However, if market sentiment turns negative or selling pressure increases, ETH could revisit the $2,500 level, which would delay any breakout and extend the current consolidation phase.
Market Outlook for June 2025
Looking ahead, many analysts expect Ethereum to trade within the $2,300–$3,000 range in June 2025, with a breakout possible if accumulation and trading volumes continue to rise . Technical indicators, such as the Ichimoku Cloud and MACD, point to a positive outlook, while increased trading activity during the summer months could further support upward momentum .
Conclusion
Ethereum’s recent accumulation by major investors, combined with strong on-chain support zones, suggests the cryptocurrency is well-positioned for a potential breakout. While risks remain if broader market sentiment shifts, the current trend points to growing optimism and the possibility of ETH reclaiming higher price levels in the near future.
