Key Insights:
- Ethereum price is trading within a broadening wedge pattern targeting $4,200 if current bullish momentum sustains.
- Abraxas Capital staked $33.48M worth of Ethereum, indicating long-term holding rather than selling pressure.
- Ethereum ETFs recorded $240.3M in net inflows on June 11, led by BlackRock and Fidelity, signaling strong institutional demand.
Ethereum (ETH) price is drawing renewed attention from institutional investors as large-scale inflows and staking activity return to the spotlight. The top altcoin is attempting to break higher within a key technical structure that could extend the ongoing rally.
Ethereum Price Climbs Toward the Top of Wedge Formation
Notably, Ethereum price is currently trading inside a broadening wedge pattern visible on the weekly chart. This pattern is characterized by higher volatility and expanding price swings, with both upper and lower trendlines diverging over time.
According to technical analysis posted by Titan of Crypto, the pattern began forming in early 2023. Currently, the pattern is pointing to a potential price target of $4,200 at the top boundary of the wedge.
In addition, the top crypto has recently broken above the $2,700 level, supported by ETF demand and reduced exchange supply. This upward momentum has placed Ethereum in the midrange of the wedge, with higher lows and a renewed push toward the resistance zone. A move toward $4,200 may mirror previous wedge tops, assuming current conditions persist and selling activity remains limited.
Abraxas Capital Stakes $33.48M in Ethereum
Abraxas Capital, through its Heka Funds division, transferred $33.5 million worth of Ethereum into the Aave decentralized finance platform within the last 24 hours. The wallet interaction involved a swap for wrapped staked ETH (wstETH), representing 10K ETH committed to earning yield rather than being moved to exchanges.
Consequently, this staking move suggested a focus on capital preservation and long-term network participation, as the funds were not routed through sell-side mechanisms. The choice to lock ETH in Aave’s liquidity protocol provides liquidity to the DeFi ecosystem.
Additionally, it reduces the circulating supply, especially when executed by a fund managing such volumes. This decision aligns with prior accumulation trends by other institutional entities aiming to optimize returns without liquidating assets.
$240.3M Ethereum ETF Inflows Recorded in a Single Day
More so, Ethereum exchange-traded funds recorded a combined net inflow of $240.3 million on June 11. This is the highest single-day total observed since the products launched.
Furthermore, the largest inflow came from BlackRock’s ETHA product, which added 163.6K ETH, while Fidelity’s FETH fund followed with an addition of 37,300 ETH. Bitwise, Grayscale, and others also contributed to the total, with no net outflows recorded that day.
Besides, these inflows follow two weeks of consistent accumulation by institutional investors. ETF issuers have been steadily expanding their ETH exposure, even during brief pullback periods earlier in June.
This capital movement supports the broader trend of Ethereum becoming a strategic asset within institutional portfolios. As a result, Ethereum price might surge specially with the continued adoption of staking and decentralized financial services across the network.
Ethereum Price 2025 Setup is Similar to 2017
Another analyst, Merlijn The Trader, noted that Ethereum price current chart is replicating its 2017 structure “bar for bar.” The weekly chart showed ETH reclaiming its 50-week moving average, just as it did before the parabolic rally in 2017. Similarly, the 2025 structure aligns in pattern, level, and momentum setup.
According to the visual comparison, both charts displayed a horizontal resistance range and a decisive push above the 50 MA. The analyst pointed out that today’s Ethereum price has higher liquidity, improved infrastructure, and no apparent resistance ahead. This similarity has raised expectations of an aggressive upward move if history repeats.
At the time of writing, Ethereum price traded near $2,737, down 2.68%, after facing resistance near $2,829. It showed weak buying momentum with a 24% drop in daily trading volume.