Ethereum News: Market Volatility Continues as ETH Faces Short-Term Decline

Ethereum (ETH) Price Prediction for March 20

As of now, Ethereum (ETH) is trading at $1,974.51, after a 3.55% decrease in the last 24 hours. Over the past 30 days, ETH has experienced a 26.38% decline, reflecting both short-term corrections and broader market volatility. The broader 30-day decline of 26.38% shows that the market has been bearish over a longer period. These conflicting trends highlight the ongoing uncertainty in the crypto market, where sudden rallies may be followed by significant corrections. Moving averages provide a clear snapshot of market momentum: On the 4-hour timeframe, the 50-period moving average has recently begun to turn, indicating that buying interest may be starting to build again.

Coinbase Controls 11.42% of Staked Ethereum

Coinbase controls 11.42% of staked Ethereum and manages 120k validators across 5 countries. A report revealed that the company had an uptime of 99.75% in February 2025, choosing not to target 99.9% uptime for security reasons. The exchange claims to have avoided security concerns such as double signing and has never experienced slashing. Slashing is a penalty in which Ethereum validators lose a percentage of their stake for committing infractions that affect network security.

Ethereum CLS Shows Price Will Rebound Above $2,600

The Ethereum price is showing signs of a possible trend reversal as technical indicators like the Continuous Linked Settlement (CLS) suggest a breakout may be on the horizon. David Perk, a TradingView crypto analyst, recently published a detailed technical analysis of the Ethereum price. The analyst forecasts that ETH could soon reach $2,600 and beyond in the coming months. According to his analysis, if Ethereum’s price action can respect its daily CLS and liquidity zone, it could gradually move upward, targeting its monthly CLS of $2,055 before skyrocketing above $2,600.

Canary Capital Files S-1 for Pudgy Penguin PENGU Token and NFT ETF

Canary Capital, based in Nashville, Tennessee, has filed an S-1 form with the SEC on March 20 for a proposed ETF that includes NFTs. The ETF will be structured as a trust holding 80%-95% PENGU tokens and 5%-15% NFTs. No custodian or exchange have been selected yet. Pudgy Penguin NFTs range in price from 9.86 ETH ($19,499) to 9,000 ETH ($17.8 million), with most selling for 500 ETH ($988,805) or less. Canary Capital will select NFTs to purchase based on factors such as price, rarity, desirability, and overall collection value.