Is the Spot Ethereum ETF Rumor Just Smoke or Fire?

Is the Ethereum Spot ETF a Game-Changer or Just Speculation?

Analysts raise approval odds from 25% to 75% unexpectedly.

  • The U.S. SEC urged the issuer to update their 19b-4 filings for a spot #Ethereum ETF on Monday.

  • Ethereum's price surged over 20% amid growing anticipation for an $ETH ETF, breaking through the $3,500 resistance zone.

  • On the daily chart, #Ethereum displayed bullish momentum, with a notable candle pushing levels from $3,000 to $3,700.

  • This surge propelled $ETH beyond a bearish, descending parallel channel, indicating considerable strength.

  • Currently, bulls are striving to overcome significant resistance levels at $3,730, which have previously resulted in multiple rejections.

  • According to Coingabbar Prediction, A breakout above $3,750 could lead bulls towards the $3,820 resistance, potentially paving the way to the $4,000 mark.

  • Conversely, if Ethereum drops below $3,500, bears might seize control, potentially driving the price towards the $3,240 support level.


RESISTANCE LEVEL : $3,730-$3,820

SUPPORT LEVEL : $3,580-$3,460

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

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