Ethereum Price Forecast: ETH could see a new all-time high as SEC may approve staking in ETH ETFs

Ethereum price today: $3,630

• Ethereum ETFs post their highest weekly net inflows since launch.
• Issuers could get approval to allow staking within ETH ETFs under Trump's upcoming administration.
• Ethereum could see a new all-time high if it sustains a high volume move above a key descending trendline resistance.

Ethereum (ETH) is down 2% on Monday after seeing a rejection near a key descending trendline resistance. However, ETH could rally to a new all-time high if it overcomes this resistance and sees an interest surge from the Securities & Exchange Commission (SEC) potentially approving staking within Ethereum exchange-traded funds (ETFs).

Ethereum ETFs could get approval to incorporate staking

Ethereum ETFs noted their highest daily inflow on Friday after posting net inflows of $332.9 million, per Coinglass data. After seeing five consecutive days of positive flows, the products also recorded weekly inflows of $466.5 million last week — their highest since launch.

In contrast, Bitcoin ETFs saw $136.5 million in net outflows last week. The recent ETH outperformance of BTC has strengthened narratives of Ethereum sparking an altcoin season.

Meanwhile, in a recent memo to investors, brokerage firm Bernstein analysts noted that issuers could get SEC approval to incorporate staking into Ethereum ETFs.

"We believe, under a new Trump 2.0 crypto-friendly SEC, ETH staking yield will likely be approved," Bernstein analysts highlighted. As the Federal Reserve has begun cutting rates, ETH's average staking yield of 3% will prove attractive to investors and asset managers through better ETF economics, the analysts added.

With network activity on the Ethereum Main chain seeing an uptick in recent weeks, ETH's staking yield could rise as high as 4% to 5%.

Ethereum's weekly active addresses increased over 25% to 2.64 million in November. Blobs, the storage space for Layer 2 transactions on the Main chain, also witnessed price discovery several times in November. If the trend continues and pushes staking yield upward, issuers could pressure the agency with new updated filings.

Ethereum Weekly Active Addresses | Santiment

Ethereum Price Forecast: ETH could see a major rally if it surges above key symmetry triangle

Ethereum is trading near $3,600 after sustaining $74.4 million in liquidations in the past 24 hours. Liquidated long and short positions accounted for 54.39 million and $20.02 million, respectively.

In the early Asian session, ETH saw a rejection near the upper boundary of a symmetry triangle represented by a descending trendline extending from its all-time high of $4,878.

ETH/USDT weekly chart

If ETH can sustain a move above this trendline resistance, it could surge above its yearly high of $4,093 and test its all-time high resistance at $4,868. A high volume move above its all-time high resistance means ETH has completed a rounded bottom move, which could be a major catalyst to stage a long-term rally.

The Relative Strength Index (RSI) is above its neutral level, indicating bullish momentum is dominant in the market.

A weekly candlestick close below the $2,817 key level will invalidate the bullish thesis.