Ethereum (ETH) is getting a lot of attention. Big investors are putting money into ETH, and now many people are asking:
š Can Ethereum break $3,000 this week?
š¦ BlackRock Moves Money from Bitcoin to Ethereum
On June 3, Ethereum ETFs saw $109 million in new investments. BlackRock led the way with $77 million in ETH inflows.
At the same time, BlackRock pulled over $561 million out of its Bitcoin ETF between May 30 and June 2. Although it later added back $58 million, the focus now seems to be on Ethereum.
š Experts think this could mean BlackRock is preparing for an āaltcoin seasonā, where coins like ETH may rise more than Bitcoin.
š On-Chain Data Shows ETH May Rise
According to IntoTheBlock, Ethereumās price is close to a resistance zone between:
$2,726 and $2,856
Held by 2.7 million investors and 4.13 million ETH
Meanwhile, a bigger group of holders (10.77 million ETH) bought ETH at around $2,613. If ETH stays above this level, it could help push the price higher.
š CEO Predicts ETH Breakout
Joao Wedson, CEO of Alphractal, says ETH may soon break out. He shared a chart showing strong buying activity at lower levels.
He believes:
ETH could hit $2,830 after breaking $2,660
A stop-loss might be set at $2,556 to manage risk
š§® Ethereum Price Chart Analysis
Hereās what the charts are showing:
ETH is up 1% today, 3% this week
Still trading between $2,395 and $2,699 (Fibonacci levels)
50-day and 100-day EMA lines show a bullish signal
RSI also supports a possible rally
š If ETH breaks above $2,699, it could soon test:
šÆ $3,000 (61.8% Fibonacci level)
And maybe even $3,436 (78.6% level) if the rally continues
š§ Summary
ā BlackRock is shifting funds from Bitcoin to Ethereum
š Ethereum ETFs saw 12 days of positive inflows
šŖ On-chain data and charts suggest a strong chance of growth
šÆ Ethereum may hit $3,000 this week if momentum continues
ā ļø Note: This article is for information only, not financial advice. Always do your own research before investing.
Source: online media Written By: Albert Brown
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