📢📢 $ETH Rally to new ATH Driven by the Introduction of ETF in Hong Kong 📢📢
The Hong Kong ETF has not only approved the $BTC ETF but also the $ETH ETF. This is a very positive step as the US has not yet approved ethereum ETF.
According to our analysis, ethereum ETF is more sought after in Hong Kong because when the US approves the Ethereum ETF, there will be a massive influx of funds, benefiting those who have purchased the Ethereum ETF earlier in Hong Kong.
Based on technical analysis, on the weekly timeframe, ETH is being held back by a strong resistance around the $3,300 level. However, there are positive indications as it is not immediately rejected but rather consolidating, waiting for momentum from the Hong Kong ETF.