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A daily close below $1,930 would show a loss of momentum for the bulls, which could lead to a downward trend with the Ethereum price dropping to $1,400.
Total Value Locked in Liquid Staking Protocols Surpasses $16 Billion, with Lido Dominating the Market.
It could lead to upward momentum if the bulls can maintain their strength and push ETH past $2,000. Therefore, it is crucial to monitor the market closely to see which direction Ethereum will take in the coming weeks. Liquid staking protocols, including Lido Finance, Coinbase’s Wrapped Staked Ether, Rocket Pool, Frax, Stakewise, Stakehound, Ankr, Ether.fi, and Bitfrost, have amassed a total value of over $16 billion.
Over the last 30 days, six of the top ten protocols based on locked value have seen an increase in gains, with four experiencing double-digit growth. Among these, Lido currently leads the market, holding 73.6% or 6,206,101 of 8,431,605 Ethereum locked-in liquid staking protocols.
According to recent data, the Shapella upgrade has resulted in an impressive addition of 400,735 Ethereum, worth $763.6 million, to the liquid staking cache. While Lido has experienced a 5.50% increase in its 30-day metrics, Coinbase’s liquid staking platform has recorded a 0.64% loss in the same period.
Over the past month, Rocket Pool has witnessed a significant 29.24% rise in its total value locked (TVL), while Frax’s TVL has surged by 31.65%. Meanwhile, Stakewise, the fifth-largest liquid staking protocol, has seen a modest 1.23% increase in its TVL over the past 30 days.
ETH Price Analysis
At the time of writing, Ethereum (ETH) is trading at $1,848.18, with a 24-hour trading volume of $9,537,698,475. This shows a decline of -2.90% in the last 24 hours and a -0.94% decline over the past 7 days. With a circulating supply of 120 million ETH, Ethereum’s market capitalization is valued at $222,385,747,389.
In the last 24 hours, the trading volume of Ethereum (ETH) has been $9,543,266,585, representing an 87.40% increase from the previous day and showing a recent surge in market activity.
The highest price ever paid for Ethereum (ETH) was $4,878.26, recorded over a year ago on Nov 10, 2021. In contrast, the current price is lower by -62.10% compared to the all-time high price. The lowest price ever paid for Ethereum (ETH) was $0.432979, recorded over 7 years ago on Oct 20, 2015. The current price is significantly higher, at 426,886.09% above the all-time low price.
ETH Price Prediction – ETHUSD Chart Analysis
ETH price hit a resistance level at $2138, which led to the bears pulling the prices down. However, the price found an anchor at $1930 that has gathered a few investors. The price has also gone further below the $1930 support level. However, the price still trades above the 50-day and 200-day moving averages. The 50-day moving average is also acting as support for the ETH price.
If the price breaks below the 50-day moving average, the price of ETH hits psychological support at $1727. However, if the 50-day moving average remains strong, the price might rebound toward its initial resistance level. Our ETH price prediction shows ETH can hit $1727 if the price goes south and $2100 if the price rebounds to the resistance level.
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