Ethereum consolidates at the highs of its May range – ETH forecast

[Redator]

The cryptocurrency picture is confusing to understand in the past week, with most altcoins rallying but the path is not a one way up.

Bitcoin is unchanged and most altcoins are down in today's session.

ETH for example broke above its 2,739 May highs establishing local highs at 2,879 on Wednesday before retracting. Prices are down 2.80% on the session but the descent looks more like a retracement than a full correction of the preceding up-moves.

Ethereum's recently launched ETF's like ETHA or FETH have had some steady inflows, not showing many signs of weakness there.

Let's take a look at different timeframes going from the Daily to the hourly to spot potential trends and hurdles.

Table of Daily ETH ETF inflows, June 12 – Source: Glassnode

Ethereum Technical Analysis

ETH Daily Timeframe

ETH Daily Chart, June 12, 2025 – Source: TradingView

The current picture on the daily is mostly bullish with prices breaking above their Daily MA 200 and its May consolidation range.

The RSI is still overbought therefore that may slow down the prices again, any continuation of the up move would be dependent on market sentiment.

ETH 4H Timeframe

ETH 4H Chart, June 12, 2025 – Source: TradingView

Ethereum has consolidated above what was the preceding immediate resistance at 2,739 and is now considered the main pivot to future movements.

The RSI went from overbought to slightly above neutral on the 4H timeframe accompanied by the 4H MA 20 - Candles are not showing any type of decision with a few three consecutive dojis.

A break-retest scenario would hint at a continuation as towards the next resistance zone between 3,000 to 3,050 as long as prices don't re-enter the May Range.

If they do, there is support at the 50 MA around 2,630 and after, the Main support zone 1 from 2,385 to 2,425.

ETH 1H Timeframe

ETH 1H Chart, June 12, 2025 – Source: TradingView

Price action looks a bit more mixed looking in the 1H timeframe - prices might be forming what resembles like a Head & Shoulders which would be confirmed with a bigger correction in other crypto assets.

The H&S materializing would be pointing towards the 4H MA 50 level at 2,638.

In the meantime, prices are consolidating in the pivot zone mentioned higher and would need to break above the 1H MA 50 to keep pushing higher.

The immediate resistance point is the last highs at 2,879. Watch for any change in the global market tone as stocks went close to their highs again, which may drag up sentiment and cryptocurrencies with it.

Safe trades!

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