Ethereum Requires Significant Rally for ETF Staking to Drive Price Increases

Ethereum is approaching potential spot ETF staking approvals, but analyst Eric Balchunas warns this may not significantly boost inflows. He cites a lack of sustained price momentum as a critical issue.

During a 71% rally in late 2024, Ethereum saw $2.44 billion in ETF inflows over 19 days.
Since reaching $4,107 in December, Ethereum has dropped over 56%, currently trading around $1,805.
Whales sold 262,000 ETH worth approximately $445 million between April 9 and April 26, impacting bullish sentiment despite ETF discussions.

Currently, the SuperTrend indicator signals "Sell," with a crucial resistance level at $1,950 for a bullish turn. A break above this could lead to a rally towards $2,120. The MACD shows positive momentum, while RSI at 55.66 suggests mild bullish bias. However, if Ethereum fails to maintain levels above $1,730, it could drop to $1,680 or lower.

ETH price chart