ETH ETF Listing Only Days Left
Normally, with only days left until the spot ETH ETF is listed, investors would not expect this to happen. The final filing date for the S-1 form for the ETH ETF application is July 8, and there are speculations that the SEC may approve the listing next week. If approved, it could trigger a significant price increase.
Any increase in ETH price could be driven by SEC approval or strong inflows or outflows in the first few days. The first targets to watch are $3,413 and $3,475.
Ethereum Technical Analysis
Ether’s recent decline is part of a larger correction that began after the price encountered resistance at the 200-4 hour exponential moving average (EMA) and the upper boundary of its descending channel.
As of July 4, ETH is testing the lower trendline of the channel for support and has the potential to bounce back. However, Ethereum is trading at $3,020, down 6.8%. Despite the decline, 24-hour trading volume surged 43%, with a market capitalization of $372 billion.
