Ethereum (ETH) is holding steady above $2,540, demonstrating resilience amid global market uncertainty and geopolitical tensions. After briefly dipping to $2,491, ETH quickly rebounded, closing near session highs at $2,542 with strong volume. CoinDesk Research’s technical model confirmed key support around $2,500, while a double-bottom formation and robust intraday buying near $2,530 point to renewed bullish momentum.
As of June 16, ETH open interest stood at $35.36 billion, per CoinGlass, signaling sustained institutional activity. Though U.S.-listed spot Ethereum ETFs recorded $2.1 million in net outflows on Friday — breaking a 19-day inflow streak — Ethereum continues to trade within the $2,500-$2,800 range, maintaining a bullish bias.
Adding to ETH’s long-term appeal, institutional research group Etherealize released The Bull Case for ETH, a comprehensive report endorsed by Ethereum thought leaders such as Danny Ryan and Vivek Raman. The report positions Ethereum as the backbone of a digitally native global financial system, highlighting its dominance in tokenized assets, stablecoin infrastructure, and institutional blockchain deployments.
ETH is described not only as a store of value but also as programmable collateral, computational fuel, and a yield-generating reserve asset — akin to “digital oil.” The report argues that ETH remains significantly undervalued given its central role in decentralized finance and tokenized markets.
Technically, ETH tested resistance at $2,553 and saw a V-shaped recovery from a low of $2,529, with heavy trading volume during key intraday spikes. Continued buying interest could push prices toward $2,575-$2,600 in the near term. Despite macro headwinds, Ethereum’s growing utility and institutional traction suggest it may be forming a strong base for a potential breakout.
