The post Ethereum price forms bullish setups as Wall Street demand gains steam appeared on BitcoinEthereumNews.com.

Ethereum price has moved sideways after its strong surge in the first half of May, but several bullish patterns and growing Wall Street demand point to a potential comeback. Ethereum (ETH) was trading at $2,630 on Thursday, within a range that has held for over a month. This price is approximately 90% above its lowest point this year. Data shows that Wall Street investors are buying spot Ethereum ETFs. They had inflows of $56.9 million on Wednesday, the 13th day of consecutive gains. These funds have also had inflows in the last three consecutive months. Ethereum continues to show strong fundamentals. It has become the leading blockchain for real-world assets. Current data shows Ethereum hosts over $7.375 billion of the $23 billion RWA market, ahead of ZKsync Era, Stellar, and Solana. Ethereum is also the biggest player in the stablecoin industry, holding over $129 billion in assets. It is followed by Tron, Solana, and Arbitrum. The same is true in other areas of the RWA industry, like tokenized treasuries and private credit. Ethereum also leads the decentralized finance industry, with over $133 billion in total value locked. Its 62% market dominance significantly exceeds that of competing chains like Solana and Tron. Ethereum price technical analysis ETH price chart | Source: crypto.news The daily chart shows that ETH has formed several bullish patterns, suggesting an eventual rebound. One of the key patterns is a cup and handle formation, with the upper boundary near $2,795, a level that aligns with the 50% Fibonacci retracement. The cup has a depth of about 50% and is now forming the handle portion. Ethereum has also formed a golden cross pattern, as the 50-day and 200-day weighted moving averages have crossed. The last time ETH formed a golden cross was in November 2024, after which it rallied…

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Filed under: News - @ June 5, 2025 9:23 pm