Ethereum (ETH) is currently facing pressure in the market but is showing signs of a potential rebound. Technical indicators, including a TD Sequential Buy Signal, suggest a shift in momentum may be on the horizon. To gain bullish traction, ETH needs to break above the resistance zone between $2,800 and $3,000. Failure to do so could result in a retest of the $2,550 support level. Despite its price struggles, Ethereum continues to lead the decentralized finance space, with its total value locked reaching a high since October 2022. While network activity has slowed, institutional investors are accumulating ETH, with exchange-traded products absorbing significant inflows. Ethereum's upcoming Pectra upgrade, as well as a proposal to integrate staking into an Ether ETF, could drive further demand. Eric Trump's endorsement of Ethereum has also led to speculation among retail investors. Overall, Ethereum's short-term trajectory depends on breaking key resistance levels and sustaining institutional demand, but factors such as upgrades and increasing institutional inflows could contribute to a significant recovery in the coming weeks.



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