Head & ShouldersA bearish pattern is forming! If the candle 4h closes below the 3667 level, we could see a drop to the golden zone by Fibonacci Retracement .by petarkisUpdated 115
$ETH soon to come back from breakIt is just the beginning for ETHs run. The anticipation for an Ethereum ETF is starting to buzz around. We have hit the zone highlighted in my previous ETH drawing which consists of a channel and a weekly Ob-. As part of the order block theory composition, I have marked the 'mean threshold' of said Ob- as our next zone of interest. The current price action is drawing a descending wedge at a shallow retracement which says we are strongly bullish. Longby DaMaximusUpdated 2223
ETHUSD-SELL strategy daily chartIt had a strong climb, and its typical for such speculative products of imagination :) I feel, we may have seen the short-term peak again, and we should move back towards $ 3,250 again. Strategy SELL @ $ 3,750-3,850 and take profit near $ 3,250. SL maybe above $ 3,915. Shortby peterbokma1
ETH- A neccessary pullback for a big pumpETH- A neccessary pullback for a big pump -Supply zone at the present price. -Demand zone support. -Key level support. -A necessary pullback for a big pump: that will shape a Quasimodo pattern.by phanvinhhai0
ETH flag breakoutafter retrace for 10 weeks, finally we see a bullish weekly candle on ETH, supported by 20 weeks MAs. in this zone (in yellow) considered a FLAG formation . is a bullish continuation trend. will see more upside once market break above $4000 mark. Longby EL_STOCKTROOPER1
ETHUSD Ethereum has shown strong bullish momentum, with recent price targets indicating potential upward movement. Analysts suggest that Ethereum could test resistance levels around $3,132 and $3,360 There is also a notable support range between $2,680 and $3,100, with potential declines testing the $2,905 level before any further upward movement. The Relative Strength Index (RSI) for Ethereum indicates it is currently overbought, suggesting a potential for a price correction. Analysts expect the price might dip to around $1,750 before resuming its upward trajectory. The outlook for ETH/USD remains optimistic with several bullish indicators and key levels to watch. However, potential corrections and regulatory challenges should be considered by traders and investors when making decisions. Overall Summary: The consensus from various technical indicators is a Strong Buy Longby TFXBR1
$ETH Price Prediction 5/25/2024Not much movement as price holds above 20EMA. Weekly close was off a day so the marker has been adjusted. The goal remains at pattern resistance (3685). www.tradingview.comby CheddarBizcuitz1
Ethereum Price Yet to React to ETF ApprovalEthereum ETFs were approved partly due to Bitwise's correlation analysis, which has led to analysts expecting spot ETH ETFs to disappoint due to key metrics. The SEC approved 19b-4 spot ETH ETF filings on Thursday due to the high correlation between spot CRYPTOCAP:ETH price and CME Ethereum futures prices, similar to that of Bitcoin. This conclusion was reached through Bitwise's correlation analysis filed with its spot ETH ETF. Bitwise is publishing a new correlation analysis as part of its new spot Ethereum ETF filing, which is the first ETH correlation analysis to replicate the specific methodology used by the SEC in their evaluation of bitcoin. The SEC's pace and breadth of first comments on S-1 filings are key to watch as they are the next key steps before a spot ETH ETF launch. Scott Johnsson, a general partner at Van Buren Capital, mentioned that the SEC's pace and breadth of first comments on S-1 filings are key to watch as they are the next key steps before a spot ETH ETF launch. Eric Balchunas speculated that the SEC's comments may come in four to six weeks. Crypto researcher Noelle Acheson suggests that spot ETH ETFs will meet a disappointing reception when they launch, as the CME's low interest in ETH derivatives — ranking fifth — suggests spot ETH ETFs may not be attractive. He also pointed to ETH accounting for only 15% of the total assets under management (AUM) of Hong Kong's spot crypto ETFs. Technical Outlook Ethereum ( CRYPTOCAP:ETH ) is currently trading around $3,740 after moving below the $3,730 price level. If a further decline occurs, the next level to watch out for is the $3,605 support. While prices have yet to react to the 19b-4 spot ETH ETF filings approval, the market may be awaiting the final approval of S-1 applications and the official launch before taking action. CRYPTOCAP:ETH has a positive Relative Strength Index (RSI) of 68.32 which is poise for further gains. CRYPTOCAP:ETH 's daily price chart correlates that of CRYPTOCAP:BTC with both assets depicting a bullish flag pattern in the near to long term respectively.Longby DEXWireNews3
ETH Projection 2025This is the chart I use to trade my ETH. I tend to project out what I think ETH is capable of achieving. I do this to track my projects versus actuals. The parallel lines on the chart are approximations of the rainbow regression lines. I think that ETH could reach between 10-15K by early 2025 assuming the BTC bull run is getting started. Longby austunutsua0
SHORT ETHUSDETHUSD formed a double top on 30mTF I’m expecting the price of ETHUSD to fall 3628.34Shortby SMFFX0
If Ethereum Can't Break These Levels, Then....Traders, I have a pretty good record for calling these inverse head and shoulders patterns before they are fully formed. I am not saying for sure Ethereum will form this inverse head and shoulders pattern but if it doesn't, then it will need to break above those resistance levels I have drawn and confirm. If it can't do this on the daily, then I have a hunch this inverse h&s will complete itself. Ethereum leads the altcoin market rn. So, depending on where your bet lies, you may want to offset some risks and take profit here as we begin to consolidate/accumulate for another bull run. Stewby stewdamusUpdated 227
Ethereum ETFs Approved: The Path to New HighsDear friends, reading the situation can be a fun process thus i had informed you to '' Buy the Next Rumor: ETH Mode ON'' Link: Ethereum ETFs have received SEC approval and are expected to start trading well before November 2024, according to JPMorgan analysts. This landmark event is anticipated to enhance market accessibility and liquidity, potentially driving ETH prices significantly higher. Analysts predict that with these ETFs, Ethereum could surpass the $4,000 mark, driven by increased institutional interest and investor confidence. Billy Markus' Bold Prediction: Billy Markus, co-founder of Dogecoin and known as Shibetoshi Nakamoto, predicts Ethereum could reach $100,000. While this forecast has shaken the crypto community, I believe more realistic targets for this cycle are $6,000 and $9,800. This projection is grounded in current market dynamics and technical analysis rather than speculative extremes. SEC Approval Details: On May 23, 2024, the SEC approved the sale of spot Ether ETFs, combining proposals from Nasdaq, NYSE, and CBOE exchanges. This follows the SEC's earlier approval of Bitcoin ETFs in January 2024. The approved ETFs include those from Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin, with individual ETF registration statements still pending SEC sign-off. The SEC's decision emphasized the need for comprehensive surveillance-sharing agreements with the CME to detect and deter fraud and manipulation. Despite not engaging in spot ether market surveillance, the CME's oversight of ether futures contracts provides a high correlation with the spot market, aiding in fraud detection. Technical Analysis: Linear Support: Provides a solid foundation, preventing significant downturns. Massive Breakout: Indicators suggest an impending breakout, bolstered by ETF news. Historical Analysis: Previous posts and technical patterns support a bullish outlook. This new era for Ethereum, driven by ETF trading, is poised to bring substantial growth and opportunities for investors. One Love, The FXPROFESSOR 💙Longby FX_Professor3324
ETH/USD daily timeframe Hi traders, I would like to share my opinion on ETH/USD. The price has reached the weekly zone, but in the lower timeframes, there are no signals indicating a move to lower prices. Therefore, I have two scenarios to consider. The first scenario, which I believe is more powerful, is if the price surpasses the grey zone and closes above it on the daily timeframe. In this situation, the formation of (FVG) in the lower timeframes would strengthen the potential for higher prices. The second scenario occurs if the price closes below the 3500$ zone. In this case, when the price completes its pullback to this level, it could present a good opportunity to sell. Remember to closely monitor the price action and consider other technical indicators and market factors that may impact ETH/USD. If you have any questions or need further clarification, please let me know.Longby somayehbasiri0
#ethusdt#ethusd price action analysis(#smart_money): Support (green) and resistance (red) areas ahead of the movement of #ethusd that will react upon reaching them. If you pass through any area, the role will change in the area.by arv610
$ETH Price Prediction 5/24/2024Support remains strong at pattern resistance (3685) allowing 20EMA to cross zone. Although we're positioned below symmetric support eventual recovery is still assumed. Continue to use pattern resistance as the W1 close goal. www.tradingview.comby CheddarBizcuitz1
ETH facing ☁️, downside risk for the next 24 hours The SEC approved the spot Ether ETF applications of eight asset managers overnight. Blackrock, Ark Invest, Van Eck and Hashdex are some of them. “We are so thrilled to confirm that the SEC has approved, pursuant to Section 19(b) of the Securities Exchange Act of 1934, our exchange partner CBOE’s proposed rule change to list and trade a @vaneck_us spot #Ethereum ETF on the CBOE!” said the Head of Digital Asset Research of one of the asset managers, Van Eck’s Matthew Sigel. The above-mentioned approval does not suffice for the listing of the spot ETFs. The asset managers now need to get their S-1 Form (the proper registration statement of the financial product) approved as well and this might take time. The price of Ether rose 0.5 percent to $3,740 over the past 24 hours. QCP, a crypto asset trading firm, forecasts that its price could rise to $6,000 as a result of this approval, Bitcoin.com reports. Mixed trading conditions and bearish clouds lie ahead for the global crypto market in the next 24 hours, Ether included. This signals downward pressure. Over a one-week horizon, the sun should break through and shine over it, indicating upside potential. Follow us for more crypto news and weather reports!Shortby ATTMO3310
Congress Throws Weight Behind Spot Ethereum ETFs: SEC Approval?Congress Throws Weight Behind Spot Ethereum ETFs: SEC Approval on the Horizon? On May 22nd, 2024, a bipartisan group of US lawmakers sent a strong message to the Securities and Exchange Commission (SEC). In a letter, they urged the regulatory body to approve applications for spot Ethereum exchange-traded funds (ETFs). This move signifies a growing momentum in Congress for legitimizing Ethereum within the traditional investment landscape. The letter's signatories included heavyweights like House Majority Whip Tom Emmer (R-MN) and Financial Services Committee Vice Chairman French Hill (R-AR). Notably, Democrats were also present, with Representatives Josh Gottheimer (D-NJ), Mike Flood (R-NE), and Wiley Nickel (D-NC) joining the call for regulatory clarity. This bipartisan support highlights a potential turning point for the cryptocurrency industry, as it demonstrates a willingness from both sides of the aisle to embrace innovation. Why Ethereum ETFs Matter Exchange-traded funds, or ETFs, are investment vehicles that track the performance of an underlying asset, like a basket of stocks or a commodity. A spot ETF would directly hold Ethereum, allowing investors to gain exposure to the cryptocurrency without the complexities of managing their own digital wallets. This could significantly increase investor participation in the Ethereum market, potentially leading to greater price stability and mainstream adoption. For many lawmakers, approving spot Ethereum ETFs is a logical next step after the SEC's green light for spot Bitcoin ETFs earlier this year. The argument goes that the SEC has already established a framework for evaluating these products, and Ethereum, as the second-largest cryptocurrency, deserves similar treatment. The Lawmakers' Argument In their letter, the lawmakers specifically urged the SEC to apply consistent standards. They argued that the "principles" used to approve spot Bitcoin ETFs should also be employed for Ethereum. This consistency is crucial for building trust in the regulatory process and fostering a fair market environment for all cryptocurrencies. Furthermore, the letter highlights the potential benefits of Ethereum ETFs for investors. Increased accessibility could attract new capital to the market, bolstering innovation and economic growth within the Ethereum ecosystem. Additionally, the lawmakers suggest that a regulated ETF structure would offer greater investor protection compared to the current, less-regulated avenues for acquiring Ethereum. The Road Ahead The SEC is currently facing deadlines for decisions on several spot Ethereum ETF proposals. The letter from lawmakers arrives at a critical juncture, potentially influencing the regulatory body's final verdict. While the SEC has historically expressed concerns about potential market manipulation and investor protection in the cryptocurrency space, the recent Bitcoin ETF approvals suggest a shift towards a more open stance. Potential Challenges Despite the growing momentum, some hurdles remain. The SEC might still raise concerns about the volatility of the Ethereum market and the potential for manipulation. Additionally, unlike Bitcoin, Ethereum's underlying technology is constantly evolving, which could introduce complexities for regulators. Conclusion The bipartisan push for spot Ethereum ETFs signifies a growing recognition of the potential of cryptocurrencies within the US financial system. With lawmakers advocating for regulatory clarity, the SEC faces a crucial decision that could shape the future of Ethereum and the broader cryptocurrency landscape. Whether the SEC approves these ETFs remains to be seen, but the recent developments suggest a potential paradigm shift in the regulatory approach to digital assets. Longby bryandowningqln0
Ethereum (ETH): Strategic Entries and Potential DropsFor Ethereum, we're observing a chart pattern that has developed a weak divergence, and we believe it is now correcting wo the end of Wave 4 of Wave (3). We plan to place multiple entries; our first entry was at the upper range of the Wave 4 target area around $3200. However, the price has continued to decline. We are now looking to DCA and make a second entry at $2600, with a final entry in our worst-case scenario at $2277. We suspect there might be further downside potential, but the extent is uncertain, and we intend to buy additional spots. Those already in from the first entry can choose to hold or buy more—this is on yourself. Given the expected market weakness, there could be opportunities to establish substantial long-term spot positions. Upon examining the annual VWAP, we're observing a scenario where the 2021 VAH is acting as a current resistance level. We briefly surpassed this level but quickly fell below it again. We believe there could be good entry opportunities in the area between the 2021 VWAP and the 2022 VAH, which closely align around $2,500 to $2,450. Below this, the next significant level could be the 2023 VAH around $2,000, indicating a substantial gap in the middle. This will be elaborated further in subsequent sections of our analysis. However, this setup on the larger chart presents a probable scenario, yet we're also considering managing our positions above this range as shown above. The 61,8% Fibonacci retracement is still the second entry target for us. 12H On the quarterly VWAP, we observe that the VWAP from Q4 2021 acted as resistance at exactly $4,100. Since then, we've experienced a downward trend and identified several levels acting as resistance or support. Currently, we're situated right at the 2022 Q1VWAP and the 2021 Q3VWAP, which could provide enough support to push us above the $3,000 mark. Ideally, surpassing the $3,200 mark would be beneficial, but we perceive this as challenging since the current quarter's VWAP is likely to act as resistance around $3,200. We think it's possible we might revisit the levels of the 2021 Q2VWAP to the 2024 Q1VAL, ranging between $2,670 and $2,426. While we don't anticipate falling much below these levels, it's not outside the realm of possibility. These remain our critical levels for now. 4H Considering the monthly VWAP, there's a scenario where we might see an upward push toward the Previous Monthly VAL, given that the February VWAP has acted as support three times already. This aligns with the desire to see Ethereum exceed $3,200, which would surpass both the February VWAP high and the Previous Monthly VWAP. Achieving and maintaining a position above this level is crucial for a sustained upward move. If we fail to reclaim and hold this level, it's plausible that Ethereum could revisit lower levels, potentially down to the February VAL around $2,500. Holding above the February VWAP is vital; otherwise, we might see a retracement to these lower support levels.Longby freeguy_by_wmcUpdated 119
ETH ETF Approval and Consensus 2024Congratulations to all holding ETH and all in crypto as a whole! This past week has been MASSIVE for legislation in the field. This ETF approval shocked me- I figured it'd happen just not so soon. Turns out crypto is going to get more and more intersected with politics as time moves on from here on out... As for ETH's price and the market, I am basing my analysis on how the BTC affected its price. It's also worth mentioning that we don't know yet when the ETH ETF will begin trading. Hong Kong's ETH ETF has not been remotely as successful as BTC, but I am optimistic on how ETH will perform here in the US. Regardless, I like many others agree the ETH ETF won't be remotely as popular as the BTC one has been. To be honest, I never really ever thought the ETH ETF was that important for its success anyways- but this approval legitimizes the asset and the entire digital asset space as a whole. I'd argue this legitimization is even more important than the inflows will be. My prediction is a copy+paste of the price action of BTC after the ETF approval. Maybe we dump for a little bit more and then run up? I could see Consensus 2024 maybe speeding up this process- that convention starts on May 29. Crypto generally does well at the end of May every year, so I'm optimistic that maybe this goes up way quicker than I am expecting. Good luck everyone! This has been a fantastic 2024 so far, and the trend is on our side.Longby seqwhence1
$ETHUSDNot financial advice. BITSTAMP:ETHUSD working its way up according to the Fibonacci levels. News aside it the ETF gets approved CRYPTOCAP:ETH won't be the only one to turn bullish but, in my opinion, all the altcoins and projects in the same ecosystem. Like and subscribe for more ideas. Thanks.by alex666666227
SEC Approves first Spot ETH ETFs SEC approves spot ETH ETFs: After months of speculation, the SEC formally approved the first spot ether ETFs on Thursday. The development sets the stage for institutional investors to pour billions into the space. Grayscale CEO departs: Grayscale CEO Michael Sonnenshein announced Monday he was leaving his role after three years running the crypto investment giant. A Goldman Sachs veteran is expected to take his place in August. White House opposes crypto legislation: The White House announced Wednesday its opposition to FIT21, a bill that would give the Commodities and Futures Trading Commission (CFTC) power to regulate the crypto market. But the White House doesn't plan to veto. Gala Games experiences a major issue: It led to the minting of 5 billion tokens worth $206M and caused a nearly 15% drop in the GALA token price. Major banks reveal significant Bitcoin Trust Holdings in Q1: Morgan Stanley, JPMorgan, Wells Fargo, and UBS have shown a growing interest in digital assets within wealth management. Venezuelan government will disconnect crypto mining farms from the national grid: They made the move to stabilize the electrical supply after enduring routine blackouts for the past five years. 🧑💻 Topic of the Week: What is a Crypto Exchange 👉 Read more here by Gemini1