Ethereum [ETH] has hit a significant staking milestone, with 34.8 million ETH now staked, representing nearly 30% of the circulating supply. This surpasses the previous all-time high set in November 2024, signaling growing confidence among long-term holders. The timing is also noteworthy, as market anticipation for spot Ethereum staking ETFs continues to build, potentially catalyzing further investor interest.
Beyond staking, recent on-chain metrics suggest that Ethereum is not currently in a distribution phase. Whale address activity remains stable, indicating major holders are not offloading their ETH, a sign of continued bullish sentiment in the market.
Price-wise, Ethereum’s recent performance has also caught traders’ attention. As predicted last week, ETH successfully pushed through the $2,700–$2,800 resistance zone, reaching levels slightly above $2,800—a move that exceeded expectations. However, market analyst RektProof noted the potential for a bearish reversal, should ETH deviate above local highs without sustained buying momentum.
#Ethereum pic.twitter.com/LKEKGkCY4j
— RektProof. (@RektProof) June 10, 2025
Technical analysis reveals that ETH has broken through resistance levels at $2,716 and $2,788, and has even retested the $2,774 mark as support—a bullish development. That said, the $2,885–$2,915 range, which acted as strong resistance in February, could again serve as a crucial supply zone. A rejection at this level might signal short-selling opportunities, especially if the price drops back below $2,774.
Conversely, a decisive break above $2,915 would open the door to long trades, with the $3,000 psychological barrier as the next key level. With Bitcoin nearing $110,000 and Ethereum’s On-Balance Volume (OBV) indicating increased buying pressure, a breakout scenario appears plausible.
Also Read: Ethereum Outpaces Bitcoin with 40% Q2 Surge: Is ETH Leading the Next Altcoin Rally?
In the coming days, traders should watch for confirmation signals near the $2,915 level, which could define whether Ethereum enters a fresh bullish leg or sets up for a short-term correction. Either way, ETH’s on-chain strength and technical resilience are shaping up to be central themes in the broader crypto market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
