Will #ETH Price Stay Consolidated Amid #EthereumETF Approval Delay?Legendary-Crypto-Analyst-Say-Ethereum-ETF-Is-Not-Going-To-Be-Approve-In-May-August-Deadlines-in-Doubt-768x402.webp
Despite increased price volatility in the cryptocurrency industry, the leader of altcoins, Ethereum price, continues to display a bearish price sentiment following the delay in the SEC’s approval of the EthereumETF. This resulted in weak buying and selling pressure for this altcoin in the crypto market.
Furthermore, the ETH price has risen 2% within the past seven days but a correction of approximately 9% over the past 30 days. Moreover, the Year-to-Date (YTD) return of the Ethereum token stands at +35.86%, indicating a long-term bullish sentiment for the ETH token in the industry.
ETH Token Forms A Symmetric Triangle Pattern:
The second largest cryptocurrency by market cap, the Ethereum token continues to display a weak price action, indicating a rising disinterest of investors in it. Furthermore, the ETH price has formed a symmetric triangle pattern in the 4H time frame and continues to trade within it.