Ethereum is climbing due to ETF expectations, staking trends reducing supply, and a rebound from oversold conditions.

Ethereum's recent price surge has been attributed to a confluence of market dynamics and developments in the cryptocurrency space. Among the significant factors, the anticipated approval or launch of Ethereum-focused exchange-traded funds (ETFs) has enhanced market optimism. ETFs often attract institutional investors, providing a more accessible and regulated avenue for exposure to Ethereum, which in turn bolsters market demand. Alongside this, Ethereum staking has gained traction, with more holders locking their ETH into staking contracts, which reduces circulating supply and strengthens price momentum. Another critical factor driving Ethereum's growth is its entry into oversold market conditions, identified by technical indicators such as the Relative Strength Index (RSI), which suggest that the asset was previously undervalued. These oversold levels often present an attractive opportunity for investors to re-enter the market, adding further buying pressure. Combined, these elements collectively influence Ethereum's upward trajectory, presenting a positive outlook for its price movements.