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Ethereum Breaks Descending Channel, Eyes $3,300 Resistance as Institutional Staking Drains Supply
Ethereum ETH/USD is trading at $3,142, up 1.6% in the last 24 hours. This is because the second-largest cryptocurrency by market value has shown newfound resilience after breaking out of a multi-month declining trend. The breakout has broken the bearish pattern that has been in place since September. At the same time, institutional conviction through large-scale staking operations is still driving liquid supply out of the market. BitMine Immersion Technologies’ active staking activity is the most important thing that has helped Ethereum’s present pricing structure. On Saturday, the largest Ethereum treasury ... (full story)