Ethereum Price Reclaims $2,362 Support Amid Bullish Signals

Ethereum, one of the top cryptocurrencies by market value, holds a unique position with a spot ETF, alongside Bitcoin. Historically, when Ethereum’s price experiences a rally, altcoins often follow suit. Despite this correlation, Ethereum has been losing ground against Bitcoin for over a thousand days, leaving altcoin investors disappointed. The question arises: Is it now time for an altcoin bull run?

Since 2019, the support of figures like Elon Musk has shown significant influence on the cryptocurrency markets, culminating in the 2021 peaks. Today, major institutions bolster the crypto landscape. The administration aimed to transform the country into a crypto capital by replacing crypto-averse officials with crypto-friendly ones in critical positions. Recently, the Federal Housing Finance Agency issued a directive to accept cryptocurrencies as collateral for mortgages. These steps suggest that the government is becoming increasingly favorable towards crypto.

Consequently, there’s anticipation for staking permissions on ETH ETFs. If approved, institutional investors might generate around 5% additional returns in ETH, triggering a demand wave and significantly driving up Ethereum’s price. Currently, the locked ETH supply has exceeded 35 million, indicating fewer ETH available for sale as they remain with long-term investors. This record-high staked ETH supply is interpreted as a vital bullish signal for Ethereum.

Analysts suggest that the awaited days for bulls have arrived, with ETH reclaiming crucial territory and poised to reverse a decline lasting over three years. Ethereum’s price has reclaimed support at $2,362. This region was noteworthy last year for its pivotal role in prolonged consolidation and even now has resulted in a 41-day lateral movement. Retaking this support hints at a potential target of $2,745.

For investors, $2,655 and $2,745 represent crucial thresholds. Surpassing these levels might convert $3,040 into support, paving the way back to $3,486 and $4,000 ranges. During this phase, a long-anticipated upward environment for altcoins could emerge. Moreover, potential positive news such as altcoin ETF approvals, tariff agreements, and rate cuts in October and November could fuel this bullish trend within 2-3 months.

Ethereum's recent price movements have sparked anticipation for a potential new altcoin bull run. On June 23, 2025, the crypto market experienced a significant bullish turn, driven by unexpected geopolitical developments. This rally has been particularly notable for Ethereum, which has been bouncing off a key support trendline, mirroring its price action from October 2023 to January 2024. This historical pattern preceded a substantial rally, raising hopes that a similar upward trend could be on the horizon.

The technical outlook for Ethereum appears bullish, with indicators such as trend lines suggesting an ascending trajectory. Ethereum has broken out of a long-term bullish structure after retesting key support levels, which has sparked predictions of a rally to as high as $8,600. According to analysts' forecasts, Ethereum could potentially reach $7,500 by the end of the year, representing a significant increase from its current trading levels. This optimism is further fueled by Ethereum's technological advancements, which have created an air of excitement and opportunity in the crypto community.

The formation of an inverse head and shoulders pattern on the 4-hour chart has added to the bullish sentiment, with the MACD flip indicating a potential breakout. This chart pattern is often seen as a strong bullish signal, suggesting that Ethereum could be poised for a significant rally. The technical indicators, combined with the historical price action, have led many to believe that Ethereum is on the cusp of a new bull run.

The anticipation surrounding the next crypto bull run is not limited to Ethereum. Other altcoins, such as ALGO, FIL, and SEI, have also been the subject of price predictions and commentary. Chart experts have shared insights into the potential price movements of these coins, adding to the overall excitement in the crypto market. The bullish outlook for Ethereum is seen as a positive sign for the broader altcoin market, as investors often look to Ethereum as a leading indicator of altcoin performance.

However, it is important to note that the crypto market is highly volatile and subject to various factors, including geopolitical developments and regulatory changes. While the current technical indicators and historical price action suggest a bullish outlook for Ethereum and the broader altcoin market, investors should exercise caution and conduct thorough research before making any investment decisions. The potential for a new altcoin bull run is certainly exciting, but it is essential to approach the market with a balanced perspective and a clear understanding of the risks involved.