Key Takeaways
- Ethereum (ETH) gains a price boost as institutional investors increase exposure to ETH.
- On-chain data indicates strong interest in Ethereum over the past few days, with the price eyeing a potential $4,000.
- Ethereum’s price prediction for June could see a renewed rally if the price breaks above $4,000.
Ethereum’s (ETH) price has gained significant momentum, outperforming Bitcoin in the last few days despite the price of BTC hitting a new all-time high. However, the price of BTC suffered a decline as a result of sell pressure, which saw the price rejected towards the key support zone of $102,000.
Despite such a price decline, the price of Ethereum (ETH) has displayed strong resistance to market retracement, with on-chain analytics indicating a significant shift in smart money demand for Ethereum (ETH) over the last few weeks, suggesting strong bullish potential to hit new highs compared to BTC.
With also institutional interest in Ethereum (ETH) growing, there is strong speculation about the price of ETH performing well in June as the price has the potential to hit a high of $3,000 for the first time in months since its price crash from $4,000, down to a low of $1,380 where price gained dominance from its low to trade higher.
June Sparks Institutional Interest in Ethereum (ETH)
BlackRock has increased its Ethereum (ETH) holding, signaling a potential capital rotation from Bitcoin to Ethereum in the last couple of days; this has sparked a strong market uptrend for Ethereum (ETH) as its price rallied from a region of $2,450 to a high of $2,660 with potential to maintain its bullish price action to the upside.
The relatively high appeal for Ethereum (ETH) by top institutional players points to a growing interest in its ecosystem. As fundamentals favor Ethereum, a significant inflow of capital into its ecosystem is expected, boosting its price to the upside.
Cryptogems and Lookonchain have confirmed a significant rise in the activities of whales and institutional organizations in recent days on Ethereum (ETH), as cryptogems hinted at a possible price rally for ETH, potentially reaching a high of $5,000, in their X tweet.
Will this recent demand for ETH positively impact the price, as June could turn out to be the month for ETH and other altcoins?
Ethereum Price Prediction For June – Is ETH a Buy or Sell Right Now?
The price of Ethereum has demonstrated a strong bullish breakout to the upside, following a previous price breakout that has resulted in a surge in the ETH price towards $4,000. Crypto expert Cryptogems, in a tweet, speculated that the price of ETH is showing similar signs.
If the price of ETH maintains its bullish price action towards $4,000, with a potential strong breakout to its upside, the price could target highs of $5,000, marking a historical price rally for ETH after failing to hit new highs and underperforming below BTC.
The month of June is looking bullish for Ethereum, as the price is expected to trade towards its key high of $4,000.
