Daily Cryptocurrency Analysis: Ethereum (ETH)

Market Performance and Analysis:

Based on the latest data as of June 21, 2026, Ethereum (ETH) followed Bitcoin (BTC) into a deleveraging storm triggered by a warning from JPMorgan Chase about miners being forced to sell, leading to an extremely high-stakes technical battle at low levels.

Price Dynamics: Currently trading in the $1,700–$1,730 range (approximately 54,915 TWD). This pullback is being constrained by tightened macro market liquidity across the board and the historic withdrawal of IPO funding from SpaceX, causing ETH to fall below key support levels all the way down.

Technical Analysis: On the daily structure, ETH previously unfortunately broke below the 100-day moving average (around $2,088) and the important support at $1,950. Currently, the bulls are building the final psychological defense line in the $1,660–$1,700 range. The RSI indicator is currently hovering around 39.2 in the weak zone. While selling pressure has eased, reversal momentum has not yet formed; the most important resistance band above has shifted downward significantly to $1,850 and $1,960.

Major Negative Developments and Fundamental Warnings:

The Ethereum Foundation faces a “development funding exhaustion” crisis:

A former core contributor to the Ethereum Foundation (EF), Trent VanEpps, publicly posted a warning on June 18, stating that as the foundation’s treasury (Treasury) has been gradually depleted over the past 10 years due to frantic ecosystem subsidies, its annual expenditure plan has been reduced from 15% to 5% by 2030. To make matters worse, the four-year “Client Incentive Program (CIP)” that provides staking reward rebates for client teams officially expired in April 2026 with no replacement plan.

Core talent drain risk:

The report indicates that maintaining Ethereum’s core operations (fighting quantum computing threats, and scalability R&D) requires at least $30 million in stable funding each year. If the funding crisis cannot be resolved, Ethereum could face the predicament of “chronic loss of top development talent.” Although some top corporate treasuries subsequently spoke up to pledge continued development grants, temporarily easing panic, this structural problem has already severely damaged the market’s confidence in the long-term mainnet development pace.

Mid- to Long-term Bullish Signals and Turning Points:

Expected “Glamsterdam” (Amsterdam) technology upgrade:

Although short-term gloom still hangs over the market, the official has reiterated that a major network upgrade codenamed “Glamsterdam” will be formally rolled out in the second half of 2026. The upgrade is intended to further optimize Layer-2 data availability, significantly cut Gas fees, and increase the speed of transaction finality confirmation. This will serve as the core piece of “black technology” used in the second half to defend its “moat” against high-performance public chains such as Solana (SOL).

Legislative progress of the CLARITY Act:

The U.S. Congress has made substantial progress on advancing legislation for the CLARITY Act, providing a clear legal basis for long-term allocation of staking-enabled digital assets such as Ethereum by institutional investors. Expectations remain that capital for long-term compliance-driven deployments will still be allocated.

Disclaimer: For reference only; not investment advice.

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