Ethereum (ETH) continues to consolidate after its strong rally earlier in May, but technical indicators and institutional interest suggest a bullish continuation could be on the horizon.
As of Thursday, ETH is trading at $2,630, consolidating in a tight range for over a month. Still, the asset is up 90% from its yearly low, maintaining bullish momentum amid broader market uncertainty.
💼 Wall Street Inflows Add Fuel to Ethereum’s Fundamentals
Recent data shows that Wall Street appetite for Ethereum is growing, particularly through spot ETFs. On Wednesday alone, Ethereum ETFs saw $56.9 million in inflows, marking the 13th consecutive day of gains.
Even more impressively, Ethereum-based ETFs have recorded monthly inflows for three straight months, highlighting sustained institutional conviction.
🌐 Ethereum Leads in Real-World Asset Tokenization
Ethereum continues to dominate the real-world asset (RWA) space. Of the $23 billion tokenized RWA market, Ethereum hosts over $7.375 billion, significantly ahead of rivals like ZKsync Era, Stellar, and Solana.
Ethereum also leads the stablecoin sector, with $129 billion in stablecoins issued on its chain, followed by Tron, Solana, and Arbitrum. In the DeFi space, Ethereum boasts over $133 billion in total value locked (TVL)—62% market dominance, far ahead of its nearest competitors.
📈 Ethereum Price Technical Analysis
Ethereum’s daily chart reveals multiple bullish patterns that signal a possible breakout:
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Cup and Handle Pattern: ETH has formed a classic cup and handle, with a resistance neckline near $2,795, aligned with the 50% Fibonacci retracement level.
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Golden Cross Formation: The 50-day moving average has crossed above the 200-day average, forming a golden cross. Historically, this preceded a 40% rally (last occurred in November 2024).
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Bullish Flag Pattern: Ethereum has also created a flag formation—a continuation pattern that follows a sharp rally and suggests more upside after consolidation.
ETH chart shows solid structure for a potential push toward $2,800 and possibly $3,000+, provided momentum holds and ETF inflows continue.
🔍 Key Takeaways
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Wall Street Ethereum ETF inflows hit $56.9M in a single day, sustaining a 13-day streak
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Ethereum leads across major sectors: RWA, stablecoins, and DeFi
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Bullish technical patterns include a cup and handle, golden cross, and flag formation
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Break above $2,795 could trigger next major leg up