Ethereum price prediction: $1,553.82 support in focus as ETH drops 3.72%

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Ethereum slides 3.72% to $1,629.54 today

Highlights

Ethereum exchange inflows surged to 2.24 million ETH on June 6, increasing available supply and intensifying short-term selling pressure.
Institutional demand remained firm, as spot Ethereum ETFs attracted $82.37 million in net inflows and BitMine Immersion Technologies added 126,971 ETH to its holdings.
ETH/USD trades below major moving averages with bearish momentum; expected range is $1,553.82 to $1,699.94, favoring further downside unless $1,655.22 resistance breaks.

Emerging selling pressure as inflows surge and institutions accumulate

Ethereum exchange inflows hit a four-month high on June 6, with 2.24 million ETH transferred onto trading platforms, increasing the amount of supply available for sale and amplifying selling pressure in spot markets. Net inflows of $82.37 million into spot Ethereum ETFs were reported over the same period, reflecting continued institutional allocation to Ethereum products. Additionally, BitMine Immersion Technologies completed its largest weekly purchase by adding 126,971 ETH, raising its holdings to 5.54 million ETH and thus tightening circulating supply, though price action has remained under broader selling pressure.

Oversold signals and persistent selling as technical barriers hold

On the technical front, ETH/USD is trading beneath the SMA-20 ($1,646.97) and SMA-50 ($1,666.41) on the hourly chart, with a sustained position well below the daily SMA-200 ($2,439.66). Immediate resistance is marked at the Ichimoku Kijun level of $1,655.22, while near-term support stands at $1,553.82. The RSI is at 36.59, CCI and BBP indicate oversold conditions, and MACD remains in sell alignment. ADX and Stoch RSI are neutral, and the Awesome Oscillator also reflects selling momentum.

Downside risk elevated as support threatens to break

Looking ahead to the next 2 days, ETH/USD is expected to trade between $1,553.82 and $1,699.94, representing a typical volatility band relative to current levels. The probability of further downside remains high, with a considerable risk of extension if support at $1,553.82 fails. A bullish scenario would require a decisive break above the $1,655.22 resistance threshold, which could prompt short-term buyers to re-enter the market, but this remains unlikely under prevailing conditions.

Viktoras Karapetjanc, Traders Union expert, sees Ethereum facing strong sell-side pressures driven by increased exchange inflows. He notes that although institutional demand via spot ETFs and large-scale purchases are positives, market liquidity has expanded more rapidly than demand. This tilts near-term sentiment toward further weakness unless support at $1,553.82 holds. Karapetjanc believes that renewed upside will require clear price confirmation above key resistance. "I am optimistic on Ethereum’s long-term appeal, but in the short run, buyers need to see stronger signs of accumulation before any recovery can take hold."

Earlier, analysts noted that Ethereum was facing persistent downside momentum amid risk-averse market conditions and institutional flows. The current surge in exchange inflows and continued ETF allocations underscores that selling pressure remains dominant, with traders advised to monitor the $1,553.82 support level for signs of potential downside extension in the near term.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.