Following an 18% drop in Ethereum (ETH) price in the last 48 hours, the digital currency is stabilizing, expecting a recovery. However, Ethereum has been on a downward trend since December 16, 2024, raising concerns about a potential Death Cross formation. Data shows a 43% decrease in Ethereum price from December 16, 2024, bringing its 50-day moving average close to the 200-day moving average. Analysts hope for Ethereum’s improvement, facing resistance at $2600 and $2700 levels. Breaking these levels could push Ethereum to $3000. Positive signs include Ethereum’s growing social dominance and increased development activities, indicating a potential price recovery. Meanwhile, the US Securities and Exchange Commission (SEC) is reviewing the proposal to activate staking in the Ethereum Grayscale ETF fund, expected to be decided before May 26, 2025. Approval of this proposal could make staking a key feature of Ethereum ETFs, attracting more investors to the market.
