Crypto commentators expected the ETH price to test new highs after it broke the $2,700 mark yesterday. But the asset has declined nearly 3% since analysts made this prediction. This price action came as the SEC held off on approving “in-kind redemptions” of the Ethereum ETF.
Following this recent price action, market participants are asking questions. Will Ethereum surpass $2,800 in 2025? Are there viable low-cost portfolio alternatives? Read on for more details.
ETH Price Impact Unclear as SEC Delays Fidelity Ethereum ETF Decision
Asset manager Fidelity has faced a setback in its request to allow “in-kind redemptions” of the Ethereum ETF. The U.S. Securities and Exchange Commission (SEC) delayed the firm’s proposal pending a review. In-kind redemptions allow ETH ETF shareholders to convert their holdings to other crypto assets instead of cash.
Fidelity isn’t the only fund facing this issue. Top firms like VanEck and BlackRock are also awaiting the potential approval of a similar Ethereum ETF withdrawal method. Last month, the SEC also halted decisions regarding a similar proposal by VanEck involving its Ethereum ETF.
For now, the agency has not given a clear date for issuing a final ruling on Fidelity’s request. Industry experts are also watching out for the potential impact of such a feature on Ether.
ETH Price Struggles at $2,800 Resistance but Signals of Recovery Emerge
The ETH price has again mounted a failed attempt to break the $2,800 barrier. It is trading around $2,558 after falling from the $2,700 mark in the previous session. In the past two weeks, the ETH token has experienced pressure from sellers at the $2,800 mark. As such, the asset faced a continuous price drop in this region.
Source: TradingView
Glassnode explained that cost basis Ethereum buyers are trying to recover their money at this level. Due to the high selling pressure, the ETH price faces resistance at $2,738.
Ethereum is trading near the middle of the Bollinger band, which means a recovery could be in the cards. The action also suggests that buyers are reentering the market at this level. Moreover, ETH’s MACD indicator is also flashing bullish signals, indicating a weak upward momentum.
BlackRock Leads Ethereum ETF Inflows
While the ETH price is struggling, the Ethereum ETF market pulled in $58.63 million in inflows. The sector last experienced such a strong outing in early February.
BlackRock iShares Ethereum Trust (ETHA) topped the table with $52.84 million in inflows. In second place, Grayscale Ethereum Mini Trust (ETH) raked in $5.79 million. The other funds closed the session with zero net flows. This marked the sixth consecutive day of inflows for the ETH ETF sector, bringing their total cumulative net inflow to $2.76 billion.
ETH Price Prediction
Even though the ETH price has yet to break out, a more positive atmosphere could turn the asset’s fortune around. Ethereum is currently hovering above its 200-day SMA, which signals a possible uptrend. If ETH stays above that level, investors’ confidence may renew. In turn, this could encourage more buying or holding rather than selling.
Even more, ETH could make another attempt at $2,800 if it manages to stay above $2,600 with good volume. A breakout above this level could push Ethereum below $3,000 later this year. But if the bear market kicks in, the asset could hit lows of $2,111.
Why Unilabs Could Be the Smart Play Right Now
Despite the recent struggles of the ETH price, technical indicators suggest the coin could bounce back soon. However, the outcome will depend on several market factors, including the in-kind redemption of the Ethereum ETF.
With the weak Ethereum price movement, Unilabs (UNIL) offers an alternative for investors who want to diversify their portfolio. The DeFi project acts as an investment guide and fund, allowing investors of all levels to benefit from the crypto market. Whale traders are already stashing the asset, and token adoption is currently surging.
Beyond that, analysts are tipping its investment fund to witness explosive growth like the Ether ETF vehicles. In its current ICO phase, UNIL is available at a discounted price of $0.0051. This low entry barrier positions early adopters for massive returns.
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