$ETH started moving again quietly.
Price bounced from around $2650 and now trading near $2720. $2700 is holding for now, but $2730–$2740 is where ETH keeps getting pressure.
But there is something more interesting happening behind the price.
Around 786K ETH is currently waiting to exit staking, worth over $2B.
At the same time, around 1.46M ETH is waiting to enter staking almost twice the exit queue.
Yes a lot of ETH wants out, but even more ETH is waiting to get locked up.
For me $2,700 is the level to watch here. If buyers keep defending it, Im looking back toward $2800 and then $2900. #EthereumValidatorExitQueueJumps392%
Price bounced from around $2650 and now trading near $2720. $2700 is holding for now, but $2730–$2740 is where ETH keeps getting pressure.
But there is something more interesting happening behind the price.
Around 786K ETH is currently waiting to exit staking, worth over $2B.
At the same time, around 1.46M ETH is waiting to enter staking almost twice the exit queue.
Yes a lot of ETH wants out, but even more ETH is waiting to get locked up.
For me $2,700 is the level to watch here. If buyers keep defending it, Im looking back toward $2800 and then $2900. #EthereumValidatorExitQueueJumps392%
