- On Saturday, the total assets held in liquid staking protocols for ETH reached a new all-time high.
- An inverse head and shoulders pattern could see ETH climb to $2,372 in the near future.
- ETH saw its price drop by 0.36%, which left the altcoin trading at $1,870.42.
Investors have shown strong support for Ethereum (ETH) staking in recent months. Despite a significant drop in ETH’s value (-61% from its peak), on-chain insights from Token Terminal Intern on Twitter revealed that the total assets held in liquid staking protocols reached an all-time high on Saturday.
Just a reminderTotal assets staked through liquid staking protocols are hitting ATH, despite $ETH being -61% from the top. pic.twitter.com/Gy7tuHd9hJ
— Token Terminal Intern (@tt_intern) July 22, 2023
This increasing interest in staking demonstrates investors’ confidence in ETH’s future potential, as they are willing to hold onto their tokens (HODL) with the hopes of a potential rally. The hopes of these HODLers could be confirmed by the inverse head-and-shoulders pattern forming on the altcoin’s daily chart.
Daily chart for ETH/USD (Source: TradingView)
Should this pattern be validated, …
The post Bullish Chart Pattern Suggests ETH’s Price Could Reach $2,372 appeared first on Coin Edition.
The post Bullish Chart Pattern Suggests ETH’s Price Could Reach $2,372 appeared first on Coin Edition.