Analyst: Ethereum may rebound if it stabilizes above $2,400

ChainCatcher news, analyst Michaël van de Poppe pointed out that if ETH can maintain above the key support level of $2,400, it may "test the upper range" in the coming weeks, initiating a rebound. The current price of ETH is $2,452, down 7.45% from 30 days ago.

Glassnode data shows that on June 16, whales bought 1 million ETH in a single day, the largest purchase volume since 2018. The spot Ethereum ETF has also recorded net inflows for three consecutive days, totaling $232 million.