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Weekly forecast: ETH price eyes $2,600 amid ETF and CPI concerns
This week has been dramatic for Ethereum. On June 23, ETH dropped over 15% to nearly $2,100 but managed to rebound to its current price of around $2,440.
At present, Ethereum is trading between support and resistance levels of $2,330 and $2,455. A breakout above this zone could push ETH toward the next targets at $2,585 and $2,785.
However, technical analysis signals moderately bearish sentiment. According to TradingView, 9 of 15 moving averages suggest “sell,” while 8 out of 11 oscillators remain neutral.
Buterin’s activity sparks institutional interest
On the positive side, increased public activity from Vitalik Buterin is boosting market optimism. He recently began reorganizing the Ethereum Foundation and presented a “10x scaling” roadmap for Ethereum L1, which has been well received for its balanced and realistic approach — especially in contrast to researcher Dankrad Feist’s more aggressive 100x scaling proposal.
As a result, institutional interest in Ethereum is rising.
Cautious optimism amid ETF delays
Analyst Ted sees long-term potential for ETH to reach $10,000. Trader NYAPPY also noted an inverted head-and-shoulders pattern on the hourly chart. A successful retest of $2,425 could trigger a gradual move above $2,720.
Still, optimism is tempered by delays in the approval of the first Ethereum staking ETF, sought by REX Shares and Osprey Funds.
Looking ahead, Ethereum could reach $2,600+ in early July — but macroeconomic headwinds like U.S. job data or higher inflation (CPI) could stall momentum.
As we wrote, Bitcoin and Ethereum may count in home loan reviews
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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