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Ethereum could be on the cusp of a major rally, according to Monad Foundation Head of DeFi Abdul Rehman.

“ETH validator entry queue is now bigger than the exit queue, for the first time in six months,” Rehman said Sunday on X, citing data from ValidatorQueue.com. “The last time this happened in June, ETH doubled in price shortly after. 2026 [is] going to be a movie.”

There were most recently 890,134 ETH worth $2.65 billion in Ethereum’s validator entry queue, according to ValidatorQueue.com, while 267,149 ETH worth $796 million were in the exit queue.

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When the amount of ETH waiting to be staked surpassed the amount waiting to be unstaked in June, the digital asset surged by 100% from around $2,500 to just below $5,000 in a matter of weeks. If history repeats, it could reach $6,000 as it was most recently trading near $3,000.

However, the last time the amount of ETH in the validator entry queue surpassed that in the exit queue was September. At the time, the shift preceded a brief ETH bounce from $4,300 to $4,700.

Rehman said in a previous post that the validator exit queue is a leading indicator of Ethereum selling pressure.

“At its current rate, the validator exit queue will reach 0 on Jan. 3 – after which I expect the sell pressure on ETH to subside,” he said at the time. “ETH looking good here.”

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Rehman is not the only market observer who has flagged the shift in Ethereum staking dynamics as a bullish signal.

“The Great Migration is over,” Alphaverse Capital CEO “cryptohuntz” said on X. “The Ethereum staking entry queue is officially larger than the exit queue. The last time the entry queue was greater than the exit queue was Sept. 9. Finally, the selling pressure from the last 3 months is drying up. The demand to enter $eth staking is back in the driver’s seat. Nature is healing. Watch the flows.”

From a technical perspective, MN Fund founder Michaël van de Poppe said on X that ETH could be gearing up for a strong upward move, sharing a daily candle chart showing the asset in an ascending triangle pattern. van de Poppe said ETH could reach $3,700 if it breaks resistance between $3,050 and $3,150.