After Bitcoin reached a new historical maximum in May, the leading altcoin Ethereum again attracted the attention of traders, on May 29, rising to a many -month peak of $ 2,789.
However, over the past two weeks, the market as a whole has cooled, and the price of ETH has stabilized in a narrow range. Despite this, analysts retain optimism about ETH prospects for June.
Ethereum forecast becomes optimistic
In an exclusive interview with Beincrypto, Temujin Louis, the general director of Wanchain, noted that the forecast for ETH for the month becomes “more and more optimistic.” This is due to sustainable investments in Ethereum exchange funds (ETF) and the restoration of network stability.
In addition, Dominic John, an analyst in Kronos Research, confirms this optimism, noting the influence of growing investments in the ETF on the price dynamics of the coin. According to John:
According to Sosovalue, from May 16, ETH-ETF demonstrates the growth of weekly tributaries. This week, pure tributaries in these tools amounted to $ 286 million, which emphasizes the growing trust of institutional investors.
In addition, the constantly positive rate of financing ETH supports this optimistic forecast. At the time of writing, the rate is 0.0068%, which reflects the trust of traders with a credit shoulder, ready to pay a bonus to maintain their long positions.
Not everything is so smooth
However, analysts warn that macroeconomic conditions can affect short -term changes in the asset. Louis noted that the leading altcoin “remains vulnerable to macroeconomic conditions.”
John also added that the upcoming FOMC meeting of the Federal Reserve System on June 17 requires special attention.
With the beginning of June and the growth of optimism around ETH, investors should carefully monitor macroeconomic signals, as they will probably determine the movement of the price of ETH in the coming weeks.
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Source: Cryptocurrency
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