📈 Technical analysis of the day:

Spot Bitcoin ETFs have been instrumental in allowing BTC to exceed its 2021 ATH. Is it the turn of Ethereum (ETH)? ETH ETFs have just been approved in the United States, and they could even be launched soon...

ETH’s price is on an uptrend, and it evolves at the level of upward-oriented moving averages (EMA13/MA30). The price could rebound in this area and exceed the last highest at $3,940. In this case, the price would mark a bullish structure in a generally sales-friendly area, namely the shorts reloading area (0.618-0,786 Fibonacci retracement). This would show that buyers are more powerful than sellers, and the price could then move towards its last ATH of 2021 located at $4,868.

The stochastic momentum indicator is in the overbuy zone, and as long as this is the case, it indicates that the movement is strong and that buyers have the advantage over the momentum.