Despite some encouraging inflows from exchange-traded funds and staking, the price of Ethereum Price Decline has fallen in the past several weeks. Price of Ethereum (eth-1.05%)With a decrease of more than 17.2% from its greatest point this month, Ethereum was trading at $3,400 on December 29. The strong fundamentals that Ethereum has been experiencing have contributed to its recent fall.
Friday saw a $47.7 million increase in daily inflows, according to data from SoSoValue. Four days in a row have seen inflows into the fund, with just two days of outflows in the past quarter of a century.
With a total net asset value of more than $12.1 billion, the cumulative net inflows of these ETFs have surpassed $2.68 billion. With the highest inflows, the BlackRock Ethereum ETF’s total assets reached $3.58 billion.
Ethereum Staking Hits $114.95 BcPrice Recovery Anticipated
More investors are staking in Ethereum Price Decline, according to statistics from IntoTheBlock. At the end of the day, investors had staked 55.18 million ETH. With an average reward rate of 3.06%, the staking market cap has increased to $114.95 billion.
Ethereum users can help keep the network safe by “staking” their tokens. The network pays them back with its fees, which have gradually increased over the last several years. Ethereum was the second most lucrative network in the business in 2024, with over $2.4 billion earned, according to TokenTerminal. Tether was the first.
The price of Ethereum may see a short-term recovery, according to some experts. The coin was expected to make a comeback once it finished the fourth portion of the Elliot wave, a distinctive pattern that defines five stages that assets go through, according to an X post by the widely followed analyst TMV. Typically, a bearish fourth wave precedes a bullish fifth wave.
Ethereum Faces Resistance at $3,750
A significant overrun of the Murrey Math Lines at $4,000 has caused the price of ETH to retreat, as seen on the daily chart. At $3,437, the currency has dipped just below the strong pivot reverse point. Investors are buying since it has stayed above the 100-day moving average and the accumulation/distribution indicator is up.
Hence, technical indicators, such as the Elliott Wave pattern, may come back in the coming weeks. In such a case, the Murrey Math Lines’ final resistance point at $3,750 will be the next objective.
Final Thoughts
Although the Ethereum Price Decline has fallen despite positive inflows from staking and exchange-traded funds, the platform’s solid foundations and rising staking interest indicate promising future growth. Consistent investment in the network is supported by its growing staking market cap and attractive incentives. The Elliott Wave pattern and other technical indicators point to a possible recovery, with the $3,750 resistance level serving as a significant objective. Despite Ethereum’s recent price struggles, there is still hope for a short-term comeback if market conditions are right.
FAQs
How much Ethereum has been staked?
As of the latest data, investors have staked 55.18 million ETH, with a market cap of $114.95 billion and an average reward rate of 3.06%.
What are the key factors supporting Ethereum's price?
Ethereum’s strong fundamentals, increased staking, and consistent inflows into ETFs suggest long-term growth potential, despite short-term price dips.
Is Ethereum expected to recover soon?
Experts predict a short-term recovery, with the Elliott Wave pattern suggesting a potential bullish move after the current bearish phase.
What is Ethereum’s resistance point?
Ethereum is facing resistance at $3,750, with technical indicators like the Murrey Math Lines and Elliott Wave pattern suggesting this as a key objective for price movement.
