📈 Market Snapshot
Ethereum is trading around $2,610, up approximately 2.7% from yesterday’s close. The intraday range spans between $2,526 and $2,623, reflecting strong momentum backed by institutional inflows and ecosystem activity.
📰 Today’s Key Headlines
-
Spot ETH ETFs attracted $61.26M on July 7, with BlackRock’s ETHA leading ($52.36M) and Fidelity’s FETH contributing $8.9M.
-
Tesseract CEO projects a 160% ETH rally, targeting around $6,700 by year-end.
-
Ethereum saw $2.9B in year-to-date inflows, plus notable institutional interest and shrinking liquid supply as 35M ETH (~28%) remain staked.
-
On-chain whale movement hits record highs, with wallets holding 10k–100k ETH up to ~26.9M, and exchange reserves declining.
📊 Market Drivers & Analysis
-
ETF Inflows: Eight consecutive weeks of positive net flows into ETH ETFs—totaling 61,000 ETH last week—underscore growing institutional confidence.
-
On-Chain Strength: Transaction volume has surged past 1.25M/day—the highest since 2021—with whales accumulating and reducing exchange reserves.
-
Technical Patterns: ETH maintains support above its 9-day EMA with bullish MACD crossover, hinting at further upside toward the $2,700–$2,800 resistance zone.
🔮 Outlook
If institutional inflows continue and on‑chain momentum holds, Ethereum may test the $2,700–$2,800 resistance zone. Long-term forecasts suggest strong upside potential—with some analysts eyeing targets from $5K to $6.7K by year-end.
However, a breach below short-term support (near $2,550–$2,560) could open the door to a consolidation around $2,400–$2,500.
📌 Final Take
Ethereum is riding a wave of institutional interest and strong market signals. With ETF momentum, on-chain demand, and bullish tech setup, ETH is well-positioned for another leg higher. Key levels to watch are $2,700–$2,800 (resistance) and $2,550 (support).
