The market is screaming! ! !

The market is screaming! ! !

Multiple information points to good news from 7.8-7.14! ! !

With just days left until the Ethereum (ETH) exchange-traded fund (ETF) is expected to go public, the market was generally not expecting to encounter such uncertainty, especially given the final filing date for its S-1 application form It has been set for July 8, and there is widespread speculation that the U.S. Securities and Exchange Commission (SEC) may grant approval in the coming week. This news could have triggered a significant increase in the price of ETH.

If the SEC finally approves the listing of the ETH ETF, this good news is likely to become a key factor in driving up the price of ETH, whether directly stimulated by the approval news, or indirectly through the large inflow of funds in the early stage of listing. In this scenario, the primary focus of ETH price will be on the two key resistance levels of $3,413 and $3,475.

From a technical analysis perspective, Ethereum’s recent downtrend can be viewed as part of a broader pullback process that began with ETH price encountering the 200-4 hourly exponential moving average (EMA) and the upper border of its descending channel Moments of strong resistance. As of July 4, ETH price is trying to find support at the channel’s lower trendline, with the possibility of a rebound present. Although the current ETH trading price has slipped to around $3,020, a drop of 6.8%, it is worth noting that the trading volume in the past 24 hours has surged by 43%, showing that the market still maintains a high level of activity, and its market value It also remains at a high of $372 billion.

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