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Ethereumusd

Healthy growth on EthereumEthereum is in an uptrend according to the Exponential Moving Averages (EMAs), but more importantly, the current price ($3700) is about EMA 20. Buying Ethereum at an average price has a positive risk-reward ratio. In a bearish scenario, ETH could bounce from EMA 200 ($3350) at the latest and still maintain a bullish trend. Anything below EMA 200 would have a bearish indication. If the current bullish trend persists, Ethereum eyes the $4000 psychological resistance.
COINBASE:ETHUSDLong
by Elysian_Mind
ETH/USD "ETHEREUM" Crypto Market Heist Plan on Bullish SideHello!! My Dear Robbers / Money Makers & Losers, 🤑 💰 This is our master plan to Heist ETH/USD "ETHEREUM" Crypto Market Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Entry 📈 : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Low Point take entry should be in pullback. Stop Loss 🛑 : Recent Swing Low using 4H timeframe Attention for Scalpers : Focus to scalp only on Long side, If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss 🚫🚏. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. 💖Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
BITSTAMP:ETHUSDLong
by Thief_Trader
2
Is Now the Time to Invest in Ethereum ETFs? The Ethereum Rally, Fueled by Institutional Interest Ethereum, the world's second-largest cryptocurrency by market capitalization, has seen a resurgence in recent months, driven in part by a surge in inflows into Ethereum exchange-traded funds (ETFs).1 This renewed institutional interest has propelled Ethereum's price higher and solidified its position as a major player in the digital asset landscape. The Impact of Ethereum ETFs The approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) in October 2023 marked a significant milestone for the cryptocurrency industry. These ETFs provide a more accessible and regulated way for traditional investors to gain exposure to Ethereum.2 As a result, institutional investors, such as pension funds and hedge funds, have been flocking to these ETFs, driving significant inflows. Why the Surge in Interest? Several factors have contributed to the increased interest in Ethereum and its associated ETFs: 1. Technological Advancements: Ethereum's underlying technology, the Ethereum blockchain, has undergone significant upgrades, including the highly anticipated Shanghai upgrade, which enabled withdrawals of staked Ether.3 These advancements have enhanced the network's scalability, security, and efficiency, making it more attractive to developers and investors alike. 2. Diverse Ecosystem: Ethereum's robust ecosystem, which encompasses a wide range of decentralized applications (dApps) and smart contracts, has continued to expand.4 From decentralized finance (DeFi) protocols to non-fungible tokens (NFTs), Ethereum has become the go-to platform for many innovative projects.5 3. Institutional Adoption: The increasing adoption of Ethereum by institutional investors has legitimized the cryptocurrency and reduced its perceived risk.6 As more traditional financial institutions recognize the potential of blockchain technology, they are allocating a portion of their portfolios to digital assets, including Ethereum.7 4. Regulatory Clarity: While regulatory uncertainty remains a concern in the cryptocurrency industry, the SEC's approval of Ethereum ETFs signals a more favorable regulatory environment. This increased regulatory clarity has boosted investor confidence and encouraged further institutional investment. The Future of Ethereum As Ethereum continues to evolve and mature, its future prospects remain bright. The ongoing development of Layer-2 scaling solutions, such as Optimism and Arbitrum, aims to address scalability issues and reduce transaction fees.8 Additionally, the emergence of decentralized autonomous organizations (DAOs) and other innovative applications built on Ethereum is further expanding the ecosystem's potential. However, it's important to note that the cryptocurrency market is inherently volatile, and Ethereum's price can fluctuate significantly. Investors should conduct thorough research and consider the risks involved before investing in Ethereum or Ethereum-based products. The surge in Ethereum ETF inflows is a testament to the growing institutional interest in the cryptocurrency. As the technology continues to advance and the regulatory landscape becomes more favorable, Ethereum is well-positioned to play a crucial role in the future of finance and technology.
COINBASE:ETHUSDLong
by bryandowningqln
Is the Surge of Spot Ether ETFs a Game-Changer for Ethereum's Fu The cryptocurrency market has witnessed a significant shift in recent days, with spot Ether (ETH) exchange-traded funds (ETFs) in the United States experiencing record-breaking inflows.1 This development has sparked discussions among industry experts and analysts, who believe it could signal the beginning of an "altcoin season" and a broader rotation of capital away from Bitcoin. On November 29th, spot Ether ETFs collectively attracted a staggering $332.9 million in inflows, surpassing the previous daily record of $295.5 million set on November 11th. Notably, these inflows exceeded those of spot Bitcoin ETFs on the same day by approximately $12.9 million. What Drives the Surge in Ether ETF Inflows? Several factors likely contributed to this surge in Ether ETF demand: 1. Ethereum's Technological Advancements: o Ethereum's transition to proof-of-stake (PoS) consensus mechanism, known as the "Merge," has significantly enhanced the network's scalability, security, and energy efficiency. This upgrade has solidified Ethereum's position as a leading blockchain platform for decentralized applications (dApps).2 o The network's layer-2 scaling solutions, such as Arbitrum and Optimism, have further boosted its capacity and reduced transaction fees, making it more attractive to developers and users.3 2. Institutional Investor Interest: o Institutional investors, such as hedge funds and pension funds, are increasingly recognizing the potential of Ether as a valuable asset class.4 The availability of spot Ether ETFs provides a convenient and regulated way for these institutions to gain exposure to Ethereum.5 o The SEC's approval of multiple spot Ether ETFs has legitimized the cryptocurrency and made it more accessible to traditional investors.6 3. Altcoin Season Expectations: o Many analysts believe that the recent surge in Ether ETF inflows could be a precursor to an "altcoin season," a period when alternative cryptocurrencies outperform Bitcoin.7 o Historical data suggests that when institutional investors allocate capital to the broader cryptocurrency market, they often diversify beyond Bitcoin, leading to increased interest in altcoins like Ether.8 The Implications for the Crypto Market The record inflows into spot Ether ETFs have several implications for the cryptocurrency market: 1. Increased Institutional Adoption: The growing interest from institutional investors could further solidify Ethereum's position as a mainstream asset and drive long-term price appreciation. 2. Potential for Altcoin Season: A rotation of capital from Bitcoin to altcoins could lead to significant price gains for Ethereum and other promising cryptocurrencies.9 3. Market Volatility: Increased institutional involvement and speculative trading activity could contribute to increased market volatility. 4. Regulatory Clarity: The SEC's approval of spot Ether ETFs has provided regulatory clarity and could pave the way for the approval of other crypto-related products.10 Conclusion The record-breaking inflows into spot Ether ETFs are a testament to the growing institutional interest in Ethereum and the broader cryptocurrency market. As Ethereum continues to evolve and innovate, it is well-positioned to capitalize on the increasing demand for decentralized technologies. While the future of the cryptocurrency market remains uncertain, the recent surge in Ether ETF inflows suggests that a new era of growth and adoption may be on the horizon.
COINBASE:ETHUSDLong
by bryandowningqln
1
Why Is Ethereum Going Up? Technical and Fundamental Price AnalysEthereum, the second-largest cryptocurrency by market capitalization, has seen a significant surge in recent weeks, outperforming Bitcoin and other major cryptocurrencies. This article delves into the technical and fundamental factors driving Ethereum's upward momentum. Technical Analysis: Bullish Signals Ethereum's price chart is currently painting a bullish picture, with several technical indicators pointing to continued upward movement: 1. Rising Momentum: The Relative Strength Index (RSI) is above 50, indicating bullish momentum. A sustained increase in RSI suggests that buying pressure is outweighs selling pressure. 2. Breaking Resistance Levels: Ethereum has successfully broken through several key resistance levels, demonstrating strong buying interest from investors. 3. Bullish Candlestick Patterns: The formation of bullish candlestick patterns like the bullish engulfing pattern and the hammer pattern signals potential upward price movement. 4. Increasing Trading Volume: Higher trading volume often accompanies price increases, indicating increased market interest and participation. Fundamental Analysis: Positive Catalysts In addition to technical factors, several fundamental factors are contributing to Ethereum's price surge: 1. Network Upgrades and Scalability: Ethereum's ongoing network upgrades, such as the Shanghai upgrade, are aimed at improving scalability, reducing transaction fees, and enhancing the overall user experience. These upgrades can attract more developers and users to the Ethereum ecosystem, driving demand for ETH. 2. Growing DeFi Ecosystem: Ethereum remains the dominant platform for decentralized finance (DeFi) applications. The rapid growth of DeFi protocols and the increasing adoption of decentralized applications (dApps) on the Ethereum network can boost demand for ETH. 3. Institutional Adoption: Institutional investors and corporations are increasingly recognizing the potential of blockchain technology and cryptocurrencies. As more institutions allocate capital to Ethereum, it can further fuel price appreciation. 4. Positive Regulatory Sentiment: While regulatory uncertainty remains a concern for the cryptocurrency industry, positive regulatory developments can have a significant impact on market sentiment and price. For instance, the departure of SEC Chair Gary Gensler, who has been critical of the cryptocurrency industry, could lead to a more favorable regulatory environment for Ethereum. 5. Bitcoin's Relative Weakness: Bitcoin's recent price decline and lower volatility have shifted investor attention to Ethereum. As Ethereum's dominance in the derivatives market increases, it can attract more capital and drive price appreciation. Conclusion Ethereum's recent price surge can be attributed to a combination of technical and fundamental factors. The strong bullish signals on the technical charts, coupled with positive developments in the Ethereum ecosystem, indicate that the upward momentum may continue in the short to medium term. However, it's important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should conduct thorough research and consider consulting with financial advisors before making investment decisions. Disclaimer: This article is for informational purposes only and should not be construed as financial1 advice. Investing in cryptocurrencies2 involves significant risk, and it's essential to do your own research before making any investment decisions.
COINBASE:ETHUSDLong
by bryandowningqln
Unpacking Ethereum's Surge: What's Driving the $3.3K Breakout?Ethereum, the second-largest cryptocurrency by market capitalization, has seen a remarkable surge in recent days, surpassing the $3,300 mark. This significant price increase has sparked widespread interest and speculation among analysts and investors alike. What's Driving Ethereum's Rally? Several factors are contributing to Ethereum's bullish momentum: 1. Anticipation for Shanghai Upgrade: The highly anticipated Shanghai upgrade, scheduled for early 2024, is expected to unlock staked ETH. This event could lead to increased market liquidity and potentially fuel further price appreciation. 2. Growing DeFi Ecosystem: Ethereum's robust decentralized finance (DeFi) ecosystem continues to expand, attracting a growing number of users and developers. As more applications and protocols are built on the Ethereum network, the demand for ETH is likely to increase. 3. Institutional Adoption: Institutional investors are increasingly recognizing the potential of Ethereum as a valuable asset. As more traditional financial institutions allocate capital to cryptocurrencies, Ethereum is likely to benefit from increased institutional demand. 4. Positive Market Sentiment: The overall positive sentiment in the cryptocurrency market, coupled with a broader economic recovery, has contributed to Ethereum's price surge. A Ticking Time Bomb? Derivatives Metrics Explode to Record Highs While Ethereum's price action has been impressive, some analysts are raising concerns about the potential risks associated with the growing derivatives market. Open interest in Ethereum futures and options has reached record highs, indicating significant speculative activity. A sudden market downturn or liquidation event could trigger a cascade of liquidations, potentially leading to significant price volatility. Additionally, the increasing leverage employed by traders can amplify both gains and losses. Analyst Perspectives Analysts have offered diverse opinions on Ethereum's future trajectory: • Bullish Outlook: Some analysts believe that Ethereum's long-term potential remains strong, driven by its robust fundamentals and growing ecosystem. They anticipate further price appreciation, especially as the Shanghai upgrade approaches. • Cautious Optimism: Other analysts are more cautious, highlighting the risks associated with the derivatives market and the potential for a market correction. They suggest that investors should exercise prudence and manage their risk exposure. The Road Ahead for Ethereum Ethereum's future trajectory will depend on a variety of factors, including the success of the Shanghai upgrade, the overall health of the cryptocurrency market, and regulatory developments. While the recent price surge is undoubtedly exciting, it is essential to maintain a balanced perspective and be aware of the potential risks involved. As Ethereum continues to evolve and mature, it will be interesting to see how it navigates the challenges and opportunities that lie ahead.
COINBASE:ETHUSD
by bryandowningqln
ETHEREUM (ETH) on the Rise! Key Targets Await on 1H ChartETHEREUM (ETH) Technical Analysis: Ethereum (ETH) has confirmed a long entry at 2586.77 on the 1-hour timeframe, backed by bullish momentum and support from the Risological Dotted Trendline . The trade setup is promising, with well-defined targets positioned to capture potential gains as ETH continues its upward move. Trade Summary: Entry Level: 2586.77 Target Levels: TP1: 2729.39 TP2: 2960.16 TP3: 3190.93 TP4: 3333.55 Stop Loss: 2471.39 With the entry level secured, Ethereum is primed to approach each target. Traders should monitor price action closely as ETH strives toward these lucrative levels.
Long
by ProfitsNinja
ETH/USD "Ethereum" Market Money Heist Plan On Long SideHola ola My Dear, Robbers / Money Makers & Losers, 🤑 💰 This is our master plan to Heist ETH/USD "Ethereum" market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Attention for Scalpers : If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss 🛑 : Recent Swing Low using 1H timeframe Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
BITSTAMP:ETHUSDLong
by Thief_Trader
Will Ether Rebound After the August 7th Death Cross?Disclaimer: This article is intended for informational purposes only and should not be construed as financial advice. Cryptocurrencies are highly volatile assets, and investing in them carries significant risks. On August 7th, 2023, Ethereum (ETH) experienced a death cross, a technical indicator where the 50-day Simple Moving Average (SMA) crosses below the 200-day SMA. Historically, this pattern has often signaled bearish trends, leading many investors to question the future trajectory of Ether. Understanding the Death Cross Before delving into the potential rebound, let's clarify what a death cross signifies. It is a technical analysis tool that suggests a potential downward price movement. However, it's essential to remember that it's not a definitive predictor of future price action. Market conditions, fundamental factors, and other technical indicators should be considered alongside the death cross. Factors Influencing Ether's Recovery Several factors could influence whether Ether can rebound from the August 7th death cross: 1. Market Sentiment: The overall cryptocurrency market sentiment plays a crucial role. If the broader market experiences a bullish trend, Ether might benefit from the positive momentum. Conversely, a prolonged bearish sentiment could hinder its recovery. 2. Regulatory Environment: Regulatory clarity and favorable policies can significantly impact cryptocurrency prices. Positive developments in the regulatory landscape could boost investor confidence and drive Ether's value upward. 3. Network Developments: Ethereum's network upgrades and advancements, such as the transition to proof-of-stake, can influence investor sentiment and demand for ETH. Positive developments in this area could support a price rebound. 4. Institutional Adoption: Growing institutional interest in Ethereum can provide price support and drive demand. Increased adoption by large financial institutions could contribute to a bullish trend. 5. Macroeconomic Factors: Global economic conditions, interest rates, and inflation can impact investor risk appetite and cryptocurrency prices. Favorable macroeconomic factors could create a positive environment for Ether's recovery. Technical Analysis: Beyond the Death Cross While the death cross is a notable technical indicator, it's essential to consider other technical analysis tools to assess Ether's potential rebound. These may include: • Support and Resistance Levels: Identifying key support and resistance levels can help determine potential price targets for a rebound. • Relative Strength Index (RSI): The RSI can indicate whether Ether is oversold, which could suggest a potential buying opportunity. • Moving Average Convergence Divergence (MACD): The MACD can provide signals about changes in momentum, helping to identify potential trend reversals. Cautious Optimism It's important to approach any prediction about Ether's rebound with caution. The cryptocurrency market is highly volatile, and past performance is not indicative of future results. While a rebound is possible, it's equally likely that Ether could continue its downward trend or experience sideways consolidation. Investors should conduct thorough research, consider their risk tolerance, and diversify their portfolios before making any investment decisions. Stay informed about market developments, technical analysis, and fundamental factors to make informed choices. Ultimately, the success of a rebound depends on a combination of technical, fundamental, and market factors. While the death cross is a significant event, it's just one piece of the puzzle. By carefully analyzing various indicators and considering the broader market context, investors can make more informed decisions about their Ether holdings.
COINBASE:ETHUSD
by bryandowningqln
1
ETHUSD Ethereum Market Robbery Plan to make moneyMy Dear Robbers / Traders, This is our master plan to Heist ETHUSD Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Stop Loss : Recent Swing Low using 4h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
GEMINI:ETHUSDLong
by Thief_Trader
Brief ETH Analysis | Bearish Trend? Key S & R Levels 1D TFThe 1D TF chart for Ethereum shows a consolidation period following a significant uptrend. Key events include the publication of the U.S. Consumer Price Index (CPI) on May 12 and circulating news about the upcoming approval of the Ethereum spot ETF, which caused heightened market activity. On May 20, Ethereum's price surged by 21% in a single day, a significant movement compared to the typical 9 - 11% increases. This sharp rise was driven by speculative news and positive sentiment surrounding the potential ETF approval and favorable CPI data. After this spike, the price entered a range, characterized by increased trading volumes but low volatility candles, indicating market indecision. Recently, an "Inside Bar" pattern has formed: the middle candlestick is a small bearish candle enclosed within the previous large bullish candle, with a potential bullish candle forming today. This pattern highlights market indecision and suggests a potential breakout in either direction. Currently, Ethereum is testing a critical resistance level around $4K. A breakout above this level, accompanied by increased volume, could signal further upward movement. Conversely, failure to break this level might lead to a pullback towards the support zones. The current chart analysis shows that ETH is approaching a significant resistance level around $4K, marked by a descending trend line. This resistance has been tested several times, underscoring its importance. The volume profile indicates consolidation between key support and resistance levels: ◼️ Resistance Levels: Around $3.9K and $4.1K. ◼️ Local Support Levels: Around $3.7K and $3.5K. ◼️ Bullish Scenario: A breakout above $3.9K, accompanied by increasing trading volumes, could signal the continuation of the bullish trend towards the next resistance level around $4.1K. ◼️ Bearish Scenario: If the price fails to break through the resistance and falls below the $3.5K support level, it could indicate a potential bearish reversal or an extended consolidation phase. Monitoring trading volumes and price movements around these key levels will be critical in predicting the next significant move. Disclaimer: Content for seasoned traders only. Not financial advice. You bear sole responsibility for trading outcomes. ➖ DYOR 🧠 💡
COINBASE:ETHUSD
by TeddyVizion
Ethereum Eyes $3800 as Weekly Wedge Breaks: Bulls Charge ForwardEthereum (ETH), the world's second-largest cryptocurrency by market capitalization, is signaling a potential breakout after a period of consolidation. This technical upswing comes after ETH/USD decisively broke out of a well-defined weekly wedge chart pattern, raising hopes of a surge towards $3800. Understanding the Weekly Wedge Pattern The wedge pattern is a common chart formation used by technical analysts to identify potential trend continuations or reversals. In a rising wedge, two converging trendlines, one acting as support and the other as resistance, form a triangle-like shape. This price action often indicates a period of consolidation before a breakout. In the case of ETH/USD, the recent price movement formed a rising wedge on the weekly chart. The price action respected the trendlines for several weeks, suggesting indecision amongst buyers and sellers. However, a decisive break above the upper trendline signifies a potential bullish continuation. Bullish Sentiment Emerges The breakout from the wedge pattern is a bullish technical indicator for Ethereum. It suggests that buyers have finally overpowered sellers and are pushing the price higher. This could be the beginning of a new uptrend, with the upper target of the wedge around $3800 coming into focus. Several factors could be contributing to the renewed bullish sentiment surrounding Ethereum. The successful completion of the Merge, transitioning Ethereum from a Proof-of-Work to a Proof-of-Stake consensus mechanism, could be a key driver. This upgrade is expected to improve scalability, security, and energy efficiency for the Ethereum network in the long run. Indicators Support the Breakout Technical indicators on the weekly chart are also aligning with the bullish breakout. The Relative Strength Index (RSI) is currently hovering around 60, indicating neither overbought nor oversold conditions, leaving room for further upside potential. Additionally, the Moving Average Convergence Divergence (MACD) has generated a bullish crossover, suggesting a potential shift in momentum towards the upside. Potential Roadblocks and Considerations While the technical indicators are flashing bullish signals, it's important to acknowledge potential roadblocks that could derail the ETH/USD rally. The overall health of the cryptocurrency market and broader economic conditions will significantly influence Ethereum's price movement. A resurgence of regulatory scrutiny on the cryptocurrency industry or a broader market sell-off could lead to a pullback in ETH's price. Additionally, unforeseen technical challenges related to the Merge or delays in Ethereum's scaling roadmap could dampen investor sentiment. What to Watch Out For Traders and investors should closely monitor key price levels and technical indicators to gauge the strength of the breakout. If ETH/USD can hold above the broken resistance line of the wedge pattern, it would be a positive sign for the bulls. Conversely, a drop back below the trendline could signal a potential breakdown and a return to the consolidation phase. The trading volume associated with the breakout will also be crucial to watch. High volume breakouts are generally considered more reliable than those with lower volume, as they indicate stronger conviction from buyers. Conclusion The breakout of ETH/USD from the weekly wedge pattern is a welcome development for bulls. While the upper target of $3800 remains in sight, continued investor confidence, healthy market conditions, and successful implementation of Ethereum's roadmap will be essential for the bulls to maintain control. As always, proper risk management and close monitoring of technical indicators are crucial for navigating the ever-volatile cryptocurrency market.
COINBASE:ETHUSDLong
by bryandowningqln
ETH consolidating before continuing its way to $4KEther extended its gains over the past 24 hours as investors now expect an approval of Van Eck’s application for a spot Ether exchange traded fund (ETF) as early as today or by tomorrow at the latest. This would be the first of nine similar applications to be approved by the Securities and Exchange Commission (SEC). “ If they approve the Ethereum ETF, they are approving the entire industry. This is the last dam to be broken,” the crypto profile Anthony Pompliano said. The price of Ether rose another 3 percent on these speculations over the past 24 hours. It has risen by 29 percent over the past seven days. “If the spot ETH ETF is approved, it will be a true shock to everyone I know in DC who's close to this process. That doesn't mean it won't happen. It means approval could signal a major shift in US crypto policy after the SAB 121 vote, perhaps more important than the ETF itself,” the Chief Legal Officer of Variant Fund, Jake Chervinsky echoed. The US Congress has turned down the SEC’s proposed SAB 121 regulation, which would have forced crypto custodians to record their clients’ crypto holdings as liabilities on their balance sheet. The concerned financial institutions would incur massive capital expenses if this regulation was enforced. The question now is whether President Joe Biden will veto the decisions of the two chambers as he has indicated he will do, or not. Enjoying our newsletter? Get access to Lykke's comprehensive range of products and services. Get Lyffe now! Inflows into the ETH ETFs estimated to reach up to $45 billion Inflows into the above-mentioned Ether ETFs will reach between $15 and $45 billion by next summer, conditional on their approvals, according to the estimates of the Head of Forex and Digital Assets research at Standard Chartered Bank, Geoff Kendrick. He forecasts that the price of Ether will reach $8,000 by year-end, the Block reports. Clouds with some sun are gathering over Ethereum in the next 24 hours, but bullish sunny vibes will be back within 3 days and extend to the one-week time horizon. This indicates further upside potential for ETH. Follow us for more crypto news and weather reports!
COINBASE:ETHUSD
by ATTMO