Ethereum validator queue increase shows that restaking boom may be attracting more investors. Ethereum shows deflationary signs as its burn rate outpaces emissions. Ethereum may continue trading sideways as bears seem to be running out of steam. Ethereum continued a sideways movement on Wednesday as investors seemed to be waiting for an upward or downward price catalyst. Despite the price stagnancy, the ETH validator queue - possibly fueled by the DeFi restaking boom - rose sharply.
Technical analysis: ETH to maintain sideways movement Ethereum has struggled to enter an upward trajectory on Wednesday as it still hovers around the $3,000 support. It has continued a sideways downward-like movement as there's no catalyst to cause a significant price shift yet. While ETH continues filling the liquidity void formed on Saturday, a short-term Bitcoin halving effect could cause it to move upward briefly to cover the previous liquidity void of April 12.
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