Ethereum Price Prediction: Technicals Suggest Resistance at $4,680 Level
In the world of cryptocurrency, Ethereum (ETH) continues to make headlines as institutional investors show a growing appetite for the digital asset.
According to recent data, over 2.6 million ETH, worth approximately $12 billion, are waiting to be unstaked. This surge in strategic reserves and ETH holdings indicates a significant influx of Ether supply into the hands of major institutional and corporate players.
The current wait time for unstaking stands at 44 days. Despite this, the staking entry queue has dropped to four-week lows, with 512,755 ETH worth $2.3 billion waiting to be staked. This suggests that some investors may be freeing up liquidity to enter ETH staking ETFs later, effectively reshuffling exposure without exiting the ETH market entirely.
The price of Ethereum currently hovers above $4,580, and the RSI has moved above 50, indicating bullish momentum. A break above the next major resistance at $4,680 could open the path toward $4,720 and potentially $4,750.
The sharp increase in institutional accumulation of Ether has accelerated, with strategic reserves and spot ETH exchange-traded funds increasing holdings by 116% since July 1. Notably, BitMine has recently purchased the largest amount of Ethereum in institutional reserves, adding $200 million worth of ETH to hold over 2.1 million ETH, more than any other publicly traded company.
The approval of BlackRock's Ethereum staking ETF is expected only in October 2025, due to ongoing regulatory scrutiny and deliberations by the U.S. SEC. However, the RSI and the hourly MACD both indicate a positive outlook for Ethereum, with the latter gaining momentum in the bullish zone.
As of now, over 1.05 million active validators are securing the Ethereum network, and 29.4% of the total ETH supply is currently staked. Despite the potential heavy sell pressure due to unstaking, Ethereum investment products attracted $646 million in inflows last week, showing continued institutional appetite.
Crypto analyst Lark Davis has highlighted the potential impact of unstaking on Ethereum's price. However, the overall trend suggests a continued interest in Ethereum from institutional investors, with holdings increasing significantly over the past three months. Institutional holders now hold 11,762,594 ETH compared to 5,445,458 ETH three months ago.
In conclusion, the surge in institutional interest in Ethereum, coupled with the record highs in staking reserves, points towards a promising future for the digital asset. As regulatory decisions and market trends continue to unfold, Ethereum's price and its role in the cryptocurrency landscape are likely to remain topics of interest for investors and analysts alike.
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