Last night, the U.S. SEC officially approved the Ethereum spot ETF, and trading will open at 9:30 a.m. Eastern Time on Tuesday (9:30 p.m. Beijing time tonight).

The Ethereum spot ETFs approved this time include 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, Invesco Galaxy, Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust.

Next, issuers will need to obtain approval from the U.S. SEC if they want to introduce staking in their Ethereum spot ETFs.

After a long wait, the Ethereum ETF has finally settled. However, trading has not yet been officially launched, and it will not start until 9:30 tonight Beijing time. Although Ethereum did not rise but fell after the ETF was approved last night, the market saw profit-taking in the short term due to the realization of good news, which led to a decline, but this is only a short-term phenomenon. For Ethereum, the approval of the ETF is a major medium- and long-term positive. After the approval, incremental funds entered the Ethereum market, which are all real positive factors. Therefore, last night's decline does not affect the optimistic attitude towards Ethereum in the medium and long term. From the chart, Ethereum fell back after rising last night, reaching a minimum of 3422, closing with a medium-yin line, but in fact did not destroy the four-hour level of shock upward trend. In other words, last night's decline did not affect the short-term shock upward trend, and the support below 3400 is still valid, which is a relatively ideal position. Yesterday, it fell back to the lower support line of the shock upward trend, and did not break through the support. Today, it is likely to rebound to around 3550. For those who want to operate in the short term, they can still open a position around 3450 today; for investors who have already opened positions, they can continue to hold them.

Bitcoin is about to break through 70,000, and the acceleration of the market is coming. What should retail investors pay attention to?

Bitcoin once again stood above the 120-day moving average two days ago, resuming its bullish trend. This time, it did not choose a false breakout trend line, but chose to fluctuate in a narrow range around 67,000.

As long as it does not fall below the current range of fluctuations, the trend is healthy.

The approval of the ETF this week, the Bitcoin conference at the weekend, and Trump’s speech have all created the best external environment for Bitcoin to hit 70,000. Since hitting a high on March 14, Bitcoin has been washing for 4 months.

This time, we are finally going to break through the trend line, and we are about to usher in the accelerated trend of this bull market, with the target of 100,000 to 130,000 yuan by the end of the year.

Ambush These 3 Altcoins with 100x Potential in the Bull Market!

1. THIS

As the cryptocurrency market price volatility increases, Ethereum prices have plunged by about 5% in the past day, with a trading volume of $72.8 million. However, in the past week, Ethereum prices have risen by 9.09%, and finally ranked 89th with a market value of $789.93 million.

The technical indicator RSI failed to test its neutral point and its average showed a negative trend. This highlights the weak buying and selling pressure on altcoins in the market.

The Moving Average Convergence Divergence (MACD) shows a continuous decline in the green histogram, and its average shows a neutral trend. This indicates a downward trend in the Ethena price.

If the market starts trading with bullish sentiment, ENA price will regain momentum and be ready to test its overhead resistance at $1.075 in the coming weeks.

2. ENS

The price of ENS has attracted a lot of attention in the cryptocurrency market over the past few months, causing its valuation to increase by more than 150% this year. Its market capitalization is $861.161 million and it is currently trading at a discount of 69.48% from its previous high of $85.69.

The Relative Strength Index (RSI) continues to hover around the midpoint on the 1D timeframe. However, the average has recorded a bearish convergence on the 1D timeframe, indicating that the cryptocurrency market sentiment towards altcoins is mixed.

If the market sees positive price action following the ETH ETF listing, ENS price will start trading with a bullish sentiment. This could lead the altcoin towards its highest point at $32.50.

3.ETC

Despite a small correction of about 2% in the past 24 hours, Ethereum Classic (ETC) has achieved a solid 2.26% gain in the past week, showing its market resilience and potential growth momentum. Currently, ETC is trading at $23.49 and has a market capitalization of $3.472 billion, ranking 27th in the highly competitive global cryptocurrency market.

Technically, ETC’s 50-day exponential moving average (EMA) poses significant resistance on the 1-day time frame, suggesting strong selling pressure near this price. However, it is worth noting that the MACD (moving average convergence divergence indicator) continues to show a green histogram. This positive signal indicates that ETC’s price momentum still maintains an upward trend, providing investors with optimistic expectations that the market may continue to rise.

Looking ahead, if the bulls can regain momentum, ETC prices are expected to usher in a new round of breakthrough attempts, with the primary goal of challenging and testing the key resistance area above $29. Confirmation of this potential upward trend will further consolidate ETC's position in the cryptocurrency field and may attract more investor attention and participation.

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