Ethereum 's correlation with the traditional market is now higher than Bitcoin's. Ethereum restakers may be responsible for its strong support just below the $3,000 level. Ethereum could trade sideways for weeks until the SEC's spot Ethereum ETF decision. Ethereum 's price continued a sideways movement on Thursday as the market still awaits a trigger.
The scarcity of ETH driven by the increased attractiveness of Ethereum restaking and anticipation of the Bitcoin halving may be what's sustaining its price to stay within the range. Read more:Ethereum recovers from dip as Hong Kong ETH ETF approval sparks whale buying spree ETH/USDT 4-hour chart As stated in a previous analysis, ETH may continue the sideways movement. Minor market triggers may see it posting tiny gains but not above or below the $3,300 and $2,852 range identified previously.
Source: News Formal (newsformal.com)
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Ethereum (ETH) Price IndexThe Ethereum (ETH) live price today is $3,586, changes over 24H (+4.63%). Current market cap is $429.21 B. All given information about Ethereum (ETH) updated in real-time.
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