Ethereum’s recent market performance has exceeded that of Bitcoin, and there are several key factors behind this:
First, the U.S. Securities and Exchange Commission (SEC) withdrew its proposal to treat Ethereum as a security without raising an objection, which is a significantly positive sign for Ethereum and its ecosystem.
(PS: My community has previously shared in-depth analysis on noteworthy investment opportunities in the Ethereum ecosystem and the second-layer network. Today, these recommended investment projects have ranked at the top of the exchange’s daily gain list.)
Although Bitcoin is close to its all-time high, driven by ETF-related gains and capital inflows, I think now is also a good time to invest in Ethereum and its related tokens.
From a technical analysis perspective, Ethereum’s recent pullback may find support between $3,300 and $3,400, which may be a good opportunity to consider buying or adding to your position.
The upper price target for Ethereum is currently looking at $4,000, a price level that I believe will soon be breached once the ETF is approved. Therefore, whether buying now or entering the market is a timely decision.