Ethereum continues to trade at the $2,550 price level in the last 24 hours. The sluggishness in volume and lack of demand keep the price of ETH relatively stable. However, data from Glassnode suggests that Ethereum's trading near strong support levels paints a positive picture in terms of long-term prospects. An increase in the amount of staked ETH may cause a shortage of supply, opening the door to price increases in the future. Recent ETF inflows have been increasing institutional investors' interest in Ethereum, which could have positive effects on the price. While the market looks stable at the moment, you should consider ETH's medium-term skyrocketing potential. Watch the test at critical support levels and if you're expecting a big move, come up with a strategy accordingly.
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Ethereum continues to trade at the $2,550 price level in the last 24 hours. The sluggishness in volume and lack of demand keep the price of ETH relatively stable. However, data from Glassnode suggests that Ethereum's trading near strong support levels paints a positive picture in terms of long-term prospects. An increase in the amount of staked ETH may cause a shortage of supply, opening the door to price increases in the future. Recent ETF inflows have been increasing institutional investors' interest in Ethereum, which could have positive effects on the price. While the market looks stable at the moment, you should consider ETH's medium-term skyrocketing potential. Watch the test at critical support levels and if you're expecting a big move, come up with a strategy accordingly.