Ethereum's Promising Horizon - What's Next for ETH?
📈🌟 Ethereum's Promising Horizon - What's Next for ETH? 🚀💡
Hi everyone, time to look at Ethereum, and I must say, Ethereum at this stage looks more promising to me than Bitcoin. For the coming weeks, my focus will be on Ethereum for quite a few reasons. Let's dive into the chart: we've witnessed a dip, and the 2850 level has now established itself as very healthy support. This pivot point was a former resistance in August 2022 and again more recently in January this year. It has now been confirmed as robust support, and I'm anticipating the price to rise to the levels of 3,700 and eventually 4,300. I'm setting my sights on new all-time highs this year or the beginning of next, targeting 6,000.
When we pivot to the fundamentals, we need to delve into the developments surrounding Ethereum ETFs and the SEC's expected decision. The SEC has postponed its verdict on Ethereum ETFs from powerhouses like BlackRock and Fidelity until late December 2023. This comes amid internal resistance within the SEC and varying degrees of optimism from industry experts regarding the approval of an Ethereum spot ETF, with predictions ranging widely.
Despite the delay, over 90,000 ETH have been withdrawn from exchanges, which could indicate a holding pattern in anticipation of regulatory decisions. Additionally, BlackRock's CEO has highlighted the potential value in Ethereum ETFs, particularly following the green light for spot Bitcoin ETFs.
Nevertheless, SEC Chair Gary Gensler's approval of Bitcoin ETPs and his cautious regulatory stance may not necessarily extend to Ethereum, which continues to maintain its influential role in the crypto conversation. With a crucial deadline approaching in May for the VanEck's application, the coming months are pivotal for Ethereum's ETF prospects and its market impact.
Stay tuned as we navigate these promising yet uncertain waters. Ethereum's journey is as dynamic as ever, and I'm here to keep you updated every step of the way.
One Love,
The FXPROFESSOR 💙
Links:
1. ambcrypto.com/ethereum-spot-etfs-why-the-secs-expected-rejection-isnt-all-bad-news/
2. u.today/justin-sun-bags-over-405-million-in-ethereum-eth-in-days
3. en.cryptonomist.ch/2024/04/22/investors-stock-up-hot-new-crypto-raboo/
4. en.bitcoinsistemi.com/a-mysterious-cryptocurrency-wallet-purchased-405-million-in-ethereum-eth-justin-sun-again/
5. newsbtc.com/analysis/eth/ethereum-price-buy-dip-3150/
6. ambcrypto.com/ethereum-these-2-major-factors-will-help-shape-eths-q2-prices/
Hi everyone, time to look at Ethereum, and I must say, Ethereum at this stage looks more promising to me than Bitcoin. For the coming weeks, my focus will be on Ethereum for quite a few reasons. Let's dive into the chart: we've witnessed a dip, and the 2850 level has now established itself as very healthy support. This pivot point was a former resistance in August 2022 and again more recently in January this year. It has now been confirmed as robust support, and I'm anticipating the price to rise to the levels of 3,700 and eventually 4,300. I'm setting my sights on new all-time highs this year or the beginning of next, targeting 6,000.
When we pivot to the fundamentals, we need to delve into the developments surrounding Ethereum ETFs and the SEC's expected decision. The SEC has postponed its verdict on Ethereum ETFs from powerhouses like BlackRock and Fidelity until late December 2023. This comes amid internal resistance within the SEC and varying degrees of optimism from industry experts regarding the approval of an Ethereum spot ETF, with predictions ranging widely.
Despite the delay, over 90,000 ETH have been withdrawn from exchanges, which could indicate a holding pattern in anticipation of regulatory decisions. Additionally, BlackRock's CEO has highlighted the potential value in Ethereum ETFs, particularly following the green light for spot Bitcoin ETFs.
Nevertheless, SEC Chair Gary Gensler's approval of Bitcoin ETPs and his cautious regulatory stance may not necessarily extend to Ethereum, which continues to maintain its influential role in the crypto conversation. With a crucial deadline approaching in May for the VanEck's application, the coming months are pivotal for Ethereum's ETF prospects and its market impact.
Stay tuned as we navigate these promising yet uncertain waters. Ethereum's journey is as dynamic as ever, and I'm here to keep you updated every step of the way.
One Love,
The FXPROFESSOR 💙
Links:
1. ambcrypto.com/ethereum-spot-etfs-why-the-secs-expected-rejection-isnt-all-bad-news/
2. u.today/justin-sun-bags-over-405-million-in-ethereum-eth-in-days
3. en.cryptonomist.ch/2024/04/22/investors-stock-up-hot-new-crypto-raboo/
4. en.bitcoinsistemi.com/a-mysterious-cryptocurrency-wallet-purchased-405-million-in-ethereum-eth-justin-sun-again/
5. newsbtc.com/analysis/eth/ethereum-price-buy-dip-3150/
6. ambcrypto.com/ethereum-these-2-major-factors-will-help-shape-eths-q2-prices/
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