ETHZilla put $100M for EtherFi as Ethereum dey bullish wedge
ETHZilla Corporation don dey put $100 million worth of ETH for liquid restaking protocol EtherFi, na dem first big big institutional move for DeFi staking. Dem get over 102,000 ETH (~$456 million), and ETHZilla wan make im treasury diverse and make Ethereum network strong while still keeping the liquidity. This investment show say people dey trust Ethereum better after Dencun and Pectra updates, and e fit make other institutions come follow do restaking faster. Technical analysis talk say for Ethereum ETH/USD 4-hour chart, e dey form rising wedge pattern, the dynamic support dey at 50-period EMA around $4,430, and volume spikes dey show accumulation. If e breakout well from the wedge, im fit reach $6,756. But short-term momentum indicators dey still cautious: RSI at 39.0 under 50 midline, MACD negative with MACD line under signal line, and Balance of Power read -0.76, show say sellers get hold. Traders suppose watch make sure RSI and MACD do crossover well for above neutral levels to confirm the bullish breakout.
Bullish
ETHZilla put $100 million inside EtherFi show say institutions get strong belief for Ethereum restaking and network security, wey many times dey happen before price go up as money enter market dey boost confidence. Plus with the rising wedge pattern – wey be bullish continuation setup – this matter dey set Ethereum to maybe break through up to $6,756. Even though short-term RSI, MACD, and BoP indicators dey talk say make dem hold body small and be careful, past example like when big companies like Grayscale and Fireblocks put money stake show say ETH price dey steady go up. Traders fit see this as clear sign to expect both short-term wahala for price and longer-term upward movement if momentum indicators confirm the breakout.