Join Our Telegram channel to stay up to date on breaking news coverage
The Ethereum price dropped over 1% in the past 24 hours to trade at $2,549 as of 4:47 a.m. EST with trading volume surging 16% to $14.8 billion.
This slight decrease in the ETH price comes as Bit Digital, a Nasdaq-listed company, sold approximately 280 Bitcoin to purchase around 100,063 ETH, making it one of the largest institutional Ethereum holders in the world.
As firms continue to amass the second-largest token by market capitalization, can the price of ETH soar?
Ethereum Price Eyes Breakout Rally As Bullish Pattern Takes Shape
After forming a rounded bottom pattern between March and May and hitting the neckline at $2,700, the ETH price has been trading within a consolidation phase between the $2,434 support and the $2,700 resistance zone.
The Ethereum price appears to be moving towards the resistance around the 0.236 Fibonacci level at $2,571, which could enable a sustained bullish rally to the upside, as GeckoTerminal data shows.
As a result, the price of Ethereum has now surpassed both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the bullish move.
Meanwhile, the 50-day SMA has crossed above the 200-day SMA, forming a golden cross at $2,528, which supports the move above.
The Relative Strength Index (RSI) is currently at 53.7, indicating a neutral-to-slightly bullish reading. It shows that momentum is shifting upward, suggesting there may still be room for upside movement before any significant correction.
ETH Shows Signs Of A Potential 37% Rally
Given the breakout above the $2,500 resistance and the successful test of the 50-day and 200-day SMAs, the ETH price presents a strong bullish setup.
If the Ethereum breakout sustains and momentum continues, a potential target lies at the 0.618 Fibonacci extension, which aligns near the $3,684 level, implying a projected upside of approximately 37.17% from the current Ethereum price.
However, should ETH fall back below the $2,500 level and invalidate the rounded bottom neckline, $2,227 and $2,073 (0.5 and 0.618 Fibonacci levels, respectively) will serve as key supports to watch.
Meanwhile, investors are piling into a new meme coin called TOKEN6900 (T6900), which, according to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, could soar 100X after launch.
TOKEN6900 Presale Blasts Past The $244K Mark – Next 100X Crypto?
Positioned as a playful rival to SPX6900 (SPX), a meme coin that has taken the crypto world by storm, TOKEN6900 seeks to tap into the same enthusiasm that fuels meme coin trading today.
The token is built on the Ethereum blockchain and is designed to turn collective brain-rot into a tradable ticker, adding an extra token for flexibility.
It is the first NCT (Non-Corrupt Token) on the market, making it clear that it has no utility.
That lack of utility has not bothered investors though. Following its launch just days ago, the presale has gained traction, amassing over $243,000 in early funding. The presale is offering 80% of its token supply for staking rewards, with a hard cap of $5 million.
me when $T6900 go ding-ding-ding and brain go yayayaya pic.twitter.com/YVEd1AJqjU
— Token6900 (@Token_6900) July 7, 2025
Priced at $0.00645, you can buy T6900 tokens with ETH, BNB, USDT, USDC, or a bank card today. The end price is $0.007125, so there’s no time to lose before the price starts to rise and the hard cap is reached.
For passive income, investors can also buy and stake T6900 tokens for a 195% annual percentage yield (APY). Over 23 million tokens have already been staked.
Investors seeking the best presale deal will want to buy before the next ICO hike, which is expected in less than 2 days.
Related News:
- SPX Slides 8% Plunge As Investors Flock To This New Meme Coin Rival
- SOL Slides 2% As Investors Turn Their Attention To This New Trading Bot Presale
- New Cryptocurrency Releases, Listings, & Presales Today – Blockprompt, INI, Magmar
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
