The ETH price trend is more resilient than expected, approaching the peak of a key technical pattern.
On June 5th, 10x Research published an article stating, "A year ago, when the market was enthusiastic about the launch of Ethereum ETFs, we took a relatively pessimistic counter-position. At that time, Wall Street did not find a sufficiently persuasive marketing narrative for such products to attract institutional investors, and on-chain activity on the Ethereum network was basically stagnant. ETH fell from $4000 to $1500.
Now, as the market recovers against the backdrop of "easing Trump tariff concerns", the price of Ethereum has also rebounded. While we expected a pullback a few days ago, the move turned out to be much more resilient than expected. From a technical point of view, Ethereum is approaching the apex of a large triangular consolidation structure, eventually breaking out of direction, potentially pushing the price towards $2,000 or $3,000. This move will be very critical and may be triggered by a change in fundamentals, or simply by the entry of a large buyer."
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The ETH price trend is more resilient than expected, approaching the peak of a key technical pattern.
On June 5th, 10x Research published an article stating, "A year ago, when the market was enthusiastic about the launch of Ethereum ETFs, we took a relatively pessimistic counter-position. At that time, Wall Street did not find a sufficiently persuasive marketing narrative for such products to attract institutional investors, and on-chain activity on the Ethereum network was basically stagnant. ETH fell from $4000 to $1500.
Now, as the market recovers against the backdrop of "easing Trump tariff concerns", the price of Ethereum has also rebounded. While we expected a pullback a few days ago, the move turned out to be much more resilient than expected. From a technical point of view, Ethereum is approaching the apex of a large triangular consolidation structure, eventually breaking out of direction, potentially pushing the price towards $2,000 or $3,000. This move will be very critical and may be triggered by a change in fundamentals, or simply by the entry of a large buyer."