{"id":33315,"date":"2026-06-29T11:04:19","date_gmt":"2026-06-29T11:04:19","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-nears-breakout-point-as-1600-resistance-comes-into-focus\/"},"modified":"2026-06-29T11:04:32","modified_gmt":"2026-06-29T11:04:32","slug":"ethereum-price-nears-breakout-point-as-1600-resistance-comes-into-focus","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-nears-breakout-point-as-1600-resistance-comes-into-focus\/","title":{"rendered":"Ethereum price nears breakout point as $1,600 resistance comes into focus"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum price has approached a decisive technical level as traders weigh mounting institutional accumulation against continued ETF-driven selling pressure.<\/p>\n<div id=\"cn-block-summary-block_e5450b9a0bb6a9756aecb4f5feebf41a\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price remains stuck below $1,600 as ETF outflows and weak market sentiment cap upside momentum.<\/li>\n<li>Technical indicators show $1,600-$1,750 as the key resistance zone, while $1,500 remains critical support.<\/li>\n<li>SharpLink\u2019s $62.4 million ETH purchase offers a bullish signal, but macro risks continue to pressure prices.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Ethereum (ETH) price traded around $1,580 on June 29 after spending the past four days moving sideways between roughly $1,550 and $1,600.<\/p>\n<p>The consolidation follows another week of selling pressure across spot Ethereum exchange-traded funds, while traders continue to watch whether buyers can reclaim higher resistance before the current range breaks in either direction.<\/p>\n<p>Spot Ethereum ETFs remain one of the largest headwinds. The funds recorded $273 million in net outflows during the week ending June 26, extending their losing streak to seven consecutive weeks. BlackRock\u2019s ETHA accounted for $236 million of those withdrawals, forcing fund managers to redeem underlying Ether as investors exited the products. Those steady spot-market sales have repeatedly capped recovery attempts around the $1,600 area.<\/p>\n<figure class=\"wp-block-image size-full is-resized\"><figcaption class=\"wp-element-caption\">Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\" rel=\"nofollow\">SoSoValue<\/a><\/figcaption><\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Elsewhere, Ethereum\u2019s own ecosystem has provided little immediate relief. The Ethereum Foundation recently confirmed a 20% reduction in staff alongside a 40% cut to its operating budget. Developers also delayed the Glamsterdam network upgrade until the second half of 2026, removing one of the network\u2019s biggest expected catalysts over the coming quarters.\u00a0<\/p>\n<p>Together, those developments have kept sentiment defensive even as Ethereum continues to dominate decentralized finance activity.<\/p>\n<p>Corporate accumulation, however, has started to emerge beneath the surface. According to Whale Factor, SharpLink Gaming returned to the market after an eight-month pause by purchasing nearly 40,000 ETH worth approximately $62.4 million. While the purchase has yet to change short-term price action, it adds another publicly visible treasury buyer accumulating Ether during the current correction.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc0b WHALE WATCH: SharpLink is back in the arena.<\/p>\n<p>After an 8 month hiatus they just scooped up nearly 40000 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> ($62.4M) in a massive accumulation spree.  <\/p>\n<p>When the biggest institutional treasuries stop waiting and start buying you know the cycle is shifting. <\/p>\n<p>Accumulation is\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/9GqckfP030\">pic.twitter.com\/9GqckfP030<\/a><\/p>\n<p>\u2014 Whale Factor (@WhaleFactor) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/WhaleFactor\/status\/2071451147315949888?ref_src=twsrc%5Etfw\">June 29, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">Ethereum faces heavy resistance between $1,640 and $1,750<\/h2>\n<p>Ethereum\u2019s technical picture continues to favor sellers despite the recent stabilization. The daily chart shows price trading beneath a descending trendline that has controlled the market since mid-May, while ETH also remains below the Supertrend indicator near $1,644.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/06\/1782731058_440_Ethereum-price-nears-breakout-point-as-1600-resistance-comes-into.webp.webp\" alt=\"Ethereum daily chart showing a descending trendline with price consolidating near $1,580 below key resistance.\" class=\"wp-image-14470600\"  ><figcaption class=\"wp-element-caption\">Ethereum daily price chart \u2014 June 29 | Source: crypto.news<\/figcaption><\/figure>\n<p>The 4-hour chart presents repeated failures around the 0.618 Fibonacci retracement at $1,642, with the 0.786 level near $1,585 acting as immediate support inside the current consolidation.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/06\/1782731058_876_Ethereum-price-nears-breakout-point-as-1600-resistance-comes-into.webp.webp\" alt=\"Ethereum 4-hour chart showing sideways consolidation below Fibonacci and Supertrend resistance near $1,600.\" class=\"wp-image-14470602\"  ><figcaption class=\"wp-element-caption\">Ethereum 4-hour price chart \u2014 June 29 | Source: crypto.news<\/figcaption><\/figure>\n<p>Momentum indicators have yet to confirm a sustained recovery. The daily RSI sits near 33, leaving ETH above deeply oversold territory but still firmly below the neutral 50 level. Chaikin Money Flow remains slightly negative near -0.01, showing that capital has not yet returned decisively to the market. Meanwhile, the Aroon indicator on the four-hour chart continues to favor sellers, with Aroon Down holding well above Aroon Up after several unsuccessful recovery attempts.<\/p>\n<p>Derivatives positioning highlights the importance of nearby liquidation zones. CoinGlass liquidation heatmaps show dense leveraged positions clustered between roughly $1,610 and $1,630, with another larger concentration sitting closer to $1,650.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"4080\" height=\"2409\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/06\/1782731059_141_Ethereum-price-nears-breakout-point-as-1600-resistance-comes-into.webp.webp\" alt=\"Ethereum liquidation heatmap highlighting major leveraged liquidity clusters around the $1,600-$1,650 price zone.\" class=\"wp-image-14470603\"  ><figcaption class=\"wp-element-caption\">Ethereum liquidation heatmap | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/pro\/futures\/LiquidationHeatMap?coin=ETH&amp;type=symbol\" target=\"_blank\" rel=\"nofollow\">CoinGlass<\/a><\/figcaption><\/figure>\n<p>A move through those levels could trigger short liquidations and accelerate momentum toward the $1,700-$1,750 region, while liquidity below $1,550 remains comparatively thinner.<\/p>\n<p>Commenting on the current setup, well-followed analyst Ted Pillows <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/TedPillows\/status\/2071512746383061124\" target=\"_blank\" rel=\"nofollow\">wrote<\/a> on X:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cReclaim the $1,750 level and there\u2019ll be a decent rally. Lose the $1,500 level and Ethereum will have its capitulation.\u201d<\/p>\n<\/blockquote>\n<p>His view aligns with the descending resistance visible on the daily chart, where $1,750 also coincides with previous support that turned into resistance after June\u2019s breakdown.<\/p>\n<h2 class=\"wp-block-heading\">Losing $1,500 would strengthen the bearish outlook<\/h2>\n<p>The bullish case still depends on Ethereum reclaiming several technical barriers in quick succession. A close above the descending trendline would expose the Supertrend resistance near $1,644, followed by the Fibonacci levels around $1,682 and $1,721 before traders begin targeting the psychological $1,750 threshold.<\/p>\n<p>Several downside risks remain in place if buyers fail to regain control. Sticky U.S. inflation has reduced expectations for near-term Federal Reserve rate cuts, keeping Treasury yields elevated and limiting liquidity available for risk assets. Bitcoin\u2019s move below $60,000 has also pushed more capital toward the largest cryptocurrency instead of major altcoins.<\/p>\n<p>If Ethereum loses the $1,500 support that has held throughout the latest consolidation, the current range would likely give way to another wave of selling as leveraged long positions unwind and bearish momentum accelerates.<\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price has approached a decisive technical level as traders weigh mounting institutional accumulation against continued ETF-driven selling pressure. Summary Ethereum price remains stuck below $1,600 as ETF outflows and&hellip;<\/p>\n","protected":false},"author":1,"featured_media":32870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=33315"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33315\/revisions"}],"predecessor-version":[{"id":33316,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33315\/revisions\/33316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/32870"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=33315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=33315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=33315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}