Ethereum Price- Spot ETH Staking ETFs Expected to Boost Market Excitement
Ethereum Price– Ethereum (ETH) recently achieved a significant milestone in staking, with 34.8 million ETH—almost 30% of its circulating supply—now locked in staking contracts. This figure surpasses the previous peak set in November 2024, highlighting strong confidence in Ethereum’s network. The anticipation of Spot ETH staking ETFs launching soon adds further excitement for the crypto community.
Recent data indicates that Ethereum is not currently in a distribution phase, as shown by trends in the number of whale addresses holding ETH. This suggests that large holders remain committed, which could support price stability or further gains. Traders continue to watch price movements closely for potential profit opportunities.
Price Movement and Resistance Levels
Ethereum’s price recently tested and broke through resistance levels between $2,700 and $2,800. As noted by trader RektProof on X, a short-term bearish reversal may follow the recent climb above $2,800, potentially surprising bullish traders and benefiting those watching for a downward correction. According to RektProof’s analysis, the $2,774 level acted as support before the price surpassed $2,800, signaling bullish momentum but with possible signs of an upcoming reversal.
The $2,885 to $2,915 range has historically served as a resistance zone, and ETH may test this area again before reversing. A drop below $2,774 could indicate an opportunity for short positions, while a move beyond $2,915 may signal favorable conditions for long trades. The psychological $3,000 mark remains a critical hurdle for bulls.
With Bitcoin (BTC) approaching the $110,000 level and increasing buying pressure on Ethereum as suggested by its On-Balance Volume (OBV), a breakout beyond $3,000 is a possibility in the near term.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
