![Ethereum [ETH] holders have a reason to rejoice, and it’s not price](https://i.headtopics.com/images/2023/1/14/cryptoamb/ethereum-eth-holders-have-a-reason-to-rejoice-and--ethereum-eth-holders-have-a-reason-to-rejoice-and--1614314654615879680.webp)
MetaMask gives ETH holders an early bull run, especially for those looking to stake their coins. ETH experiences a resurgence of sell pressure as it approaches a key resistance range. Ethereum [ETH] holders now have an extra incentive to keep their funds on MetaMask, as MetaMask staking will act as the new Ethereum staking program, […]
The announcement comes at an ideal time, as the crypto market was showing signs of recovery at press time. As such, investors will now be more likely to hold on to their ETH with a long-term focus. Notably, Ethereum’s total value locked in DeFi grew from as low as $38.6 billion on 2 January to $43.46 billion on 13 January.Having staked ETH is a great way to earn passive income as the market recovers.
A couple of things to note: ETH rallied as high as 1591 in the last 24 hours, putting it closer to the resistance range. It has since then experienced a slight pullback, indicating that sell pressure was manifesting.Also worth noting is the fact that Ethereum’s native token was deeply overbought at press time. Sell pressure is more likely to manifest within the overbought zone. Perhaps exchange flows may help gauge the level of incoming sell pressure.
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