Ethereum (ETH) recently achieved a notable milestone, with approximately 34.8 million ETH—nearly 30% of its circulating supply—now staked. This surpasses the previous high reached in November 2024. Investors are also hopeful for potential Spot ETH staking ETFs in the near future, which may drive further interest in the asset.
Following its ascent to the $2,700-$2,800 resistance range, Ethereum's recent rise above $2,780 was unexpected. Analyst RektProof shared that a previous breakout above local lows suggested a bullish trend, yet current price action hints at a potential reversal. As Ethereum trades above $2,800, some market participants remain cautious, as this may trap bullish traders while rewarding those betting on a downward trend.
The price of ETH has successfully passed local resistance levels at $2,716 and $2,788, further climbing past $2,800 after retesting the $2,774 mark as support—an overall positive sign. However, signs of a reversal are emerging. The region between $2,885-$2,915 had previously served as resistance and may once again pose a challenge for Ethereum. A pullback below $2,774 could provide opportunities for trading shorts, while continuing past $2,915 would suggest a favorable climate for long positions. The psychological barrier of $3,000 is also looming, but with Bitcoin approaching the $110k mark and rising buying pressure for ETH, a breakout could be on the horizon.
Traders should remain cautious and attentive to price action, as it will dictate future strategies regarding entry points and risk management.
Following its ascent to the $2,700-$2,800 resistance range, Ethereum's recent rise above $2,780 was unexpected. Analyst RektProof shared that a previous breakout above local lows suggested a bullish trend, yet current price action hints at a potential reversal. As Ethereum trades above $2,800, some market participants remain cautious, as this may trap bullish traders while rewarding those betting on a downward trend.
The price of ETH has successfully passed local resistance levels at $2,716 and $2,788, further climbing past $2,800 after retesting the $2,774 mark as support—an overall positive sign. However, signs of a reversal are emerging. The region between $2,885-$2,915 had previously served as resistance and may once again pose a challenge for Ethereum. A pullback below $2,774 could provide opportunities for trading shorts, while continuing past $2,915 would suggest a favorable climate for long positions. The psychological barrier of $3,000 is also looming, but with Bitcoin approaching the $110k mark and rising buying pressure for ETH, a breakout could be on the horizon.
Traders should remain cautious and attentive to price action, as it will dictate future strategies regarding entry points and risk management.
