Ether Clears $2,700 With Force as Volume Spikes and Sentiment Turns Bullish
Ethereum’s ether (ETH) is gaining strong upward momentum, soaring 6.54% in the past 24 hours to trade above $2,700 — a move backed by surging trading volume and increasingly optimistic forecasts from both traders and institutions.
ETH opened the day near $2,576 before briefly dipping to $2,562, but strong buying demand returned late on June 9, sending volumes past 436,000 ETH. A second wave of aggressive buying early June 10 pushed ETH to a high of $2,783, with more than 560,900 ETH (worth $1.51B) exchanged.
At last check, ether was holding around $2,744, firmly above its previous resistance.
Social sentiment is heating up. A well-known crypto trader on X declared ETH had entered “beast mode,” after decisively breaking through prior ceilings at $1,500 and $2,200, and predicted a possible extension toward the $4,000 level.
Institutional voices are also weighing in. Consensys founder Joseph Lubin underscored Ethereum’s foundational role in the blockchain economy, citing $25 trillion in annual settlement volume. He also spotlighted a $425 million private investment in SharpLink Gaming as a sign that traditional capital is flowing toward on-chain yield opportunities.
Meanwhile, QCP Capital pointed to a trio of macro drivers — the GENIUS Act’s progress in Congress, Circle’s IPO chatter, and regulatory clarity for stablecoins — as potential catalysts for long-term upside in Ethereum’s tokenization infrastructure.
On-chain data continues to strengthen the bullish thesis. Staked ETH has hit a new all-time high at 34.65 million, locking up nearly 29% of total supply, which may limit sell pressure and create a floor near $2,720.
Technical Takeaways:
- ETH formed a clean uptrend from $2,562 to $2,783, with two breakout legs driven by strong volume.
- A new supply wall is developing near $2,796, which may cap near-term gains.
- A double-bottom pattern between $2,720 and $2,740 suggests healthy consolidation is underway.
With technicals pointing upward, investor interest accelerating, and macro narratives aligning, ether’s breakout could just be the beginning of a broader move toward $3,000 and beyond.
