Ethereum traded near $1,670.61 on Friday as it tried to steady after weeks of selling pressure. The token rose 1.06% over 24 hours, while trading volume reached about $14.24 billion and market value stood near $200.70 billion. Still, the rebound remained fragile as traders watched the $1,700 level.
Ethereum’s recent move looked more like a short bounce than a confirmed trend change. The market still lacked strong buyer support, and the price stayed below key resistance levels. Crypto analyst Ted said ETH still trades inside a bear flag formation. This pattern often points to consolidation before another decline if buyers fail to break the setup.
Can Ethereum reclaim $1,700 before sellers regain control? For now, that level remains the market’s main short-term test.
Bollinger Band data placed ETH near $1,667, below the middle band around $1,845.69. The lower band sat near $1,469.62, showing how far the price had already fallen. That setup suggested sellers still held the upper hand. ETH had stopped falling fast, but it had not yet shown enough strength to confirm a new upward move.
The MACD also stayed weak. The MACD line sat near -138.24, while the signal line stood near -130.37, which kept bearish pressure in place.
Even so, the histogram showed slight improvement. That shift suggested downside momentum may be easing, although traders still need a bullish crossover before calling a reversal.
Also Read: Ethereum: $28.6M ETH Purchase by Fidelity Brings Firm Back Into the Spotlight
Fireblocks said institutional Ethereum staking has entered a more standardized phase as validator participation rises across the network. On June 11, the company introduced ETH Staking Link, a standardized interface for staking providers. The tool aims to connect validator infrastructure with Fireblocks’ institutional platform. Fireblocks said it wants to make staking operations more consistent for asset managers, custodians, exchanges, and other professional firms.
The company also said more than 36 million ETH is now staked, which accounts for about 30% of Ethereum’s circulating supply. It added that around 1 million active validators now secure the network.
Fireblocks said staking volume on its own platform has more than doubled over the past six months. That figure reflects its internal activity, but it also aligns with a broader shift toward staking as part of institutional Ethereum exposure.
Ethereum remains under pressure near $1,670, with $1,700 still the key level traders are watching. Technical signals remain bearish, even as downside momentum eases slightly. At the same time, Fireblocks’ staking data shows growing institutional interest in Ethereum, which may support longer-term network strength.