$ETH It seems that for Ethereum ($ETH) to gain momentum, it must reverse the downward trend against its Bitcoin ($BTC) pairing. While there are signs of this on the daily time frame for ETH/BTC, it needs significant volume to confirm the trend break.
However, it's possible that ETH isn't quite poised for a significant upturn yet, especially if BTC enters a corrective phase. Yet, emerging from a substantial correction could present an opportune moment for ETH.
While an independent surge for ETH is plausible in the future, the potential denial of an Ethereum ETF by the SEC could delay such dominance.
This dynamic landscape underscores the intricate relationship between ETH, BTC, and regulatory decisions, shaping the trajectory of both cryptocurrencies.
What are your thoughts on the matter?
