6-8-2025 – Ethereum is consolidating above $3,500, trading at $3,589.71 with a 1.15% drop in the last 24 hours, as analyst TommyJR forecasts a potential rally to $4,000. The price is testing the 50% Fibonacci retracement level, forming a critical support zone that could confirm a higher low, reinforcing bullish momentum. A recent breakout from a mini flag pattern signals continued upward potential, provided Ethereum maintains the $3,500 support.
The U.S. Securities and Exchange Commission’s statement that certain liquid staking setups are not securities has bolstered market confidence, potentially paving the way for staking-based ETFs and greater institutional participation. This regulatory clarity aligns with rising social dominance at 11.41%, reflecting growing retail and community engagement.
Significant whale activity, including Coinbase’s transfer of 36,917 ETH ($134 million) and BlackRock’s purchase of 23,874 ETH ($88.8 million), underscores strategic accumulation during this consolidation phase. The combination of technical strength, institutional buying, and a favorable regulatory shift supports Ethereum’s bullish outlook. A sustained hold above $3,500 could drive the price toward the projected $4,000 level, fueled by increased staking and ETF prospects.
