$ETH Ethereum has reclaimed its $2,395 support level, but potential inflationary pressure from Unichain's launch could impact its price. Currently, Ethereum trades above $2,400, with the BlackRock Spot Ethereum ETF seeing a $17.8 million inflow Âč.
Key Factors Influencing Ethereum's Price
Inflation Concerns
Unichain's launch may lead to increased supply and potential inflationary pressure on Ethereum's price.
Market Sentiment Ethereum's price is also influenced by overall market sentiment, with some analysts predicting a decline ahead Âč.
Technical Analysis
Ethereum's critical resistance barrier is approaching, and rejection from this level could signal a decline.
Recent Market Trends
Bitcoin has found support around $60,000, with a close below this level potentially signaling a decline.
XRP is back above $0.5300 after Ripple filed a cross-appeal in its SEC lawsuit Âč.
Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly
