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Ethereum ETFs July 2024: A New Era Begins
The U.S. Securities and Exchange Commission (SEC) has provisionally approved several Ethereum (ETH) exchange-traded funds (ETFs), marking a significant milestone for the cryptocurrency market.
✨Key Highlights:
👉SEC Approval and Launch Details:
The SEC's provisional approval of Ethereum ETFs has been a highly anticipated event in the crypto community. Notices posted on the Chicago Board Options Exchange (Cboe) website confirmed that trading would commence on July 23, 2024.
👉The ETFs set to begin trading include:
21Shares Core Ethereum ETF (CETH)
Fidelity Ethereum Fund (FETH)
Franklin Ethereum ETF (EZET)
Invesco Galaxy Ethereum ETF (QETH)
VanEck Ethereum ETF (ETHV)
👉Market Impact and Predictions:
The launch of Ethereum ETFs is expected to significantly boost Ethereum's accessibility among traditional investors. The potential inflows from these ETFs could be substantial, with estimates ranging from $1.5 to $5 billion within the first six months of trading. This influx of capital is projected to elevate Ethereum's value in U.S.-based spot ETFs to $13-$15 billion by the end of the year.
👉Price Predictions:
Market analysts have provided a range of predictions regarding Ethereum's price following the ETF launch. Some estimates suggest that $ETH could reach $5,000 to $6,000 by the end of the year, with even more optimistic projections aiming for $8,000 or higher. Historical parallels with Bitcoin's performance post-ETF approval lend credence to these bullish forecasts.
👉Broader Market Conditions:
The broader market conditions, including Federal Reserve policies and economic indicators, will play a crucial role in shaping Ethereum's future. Recent economic reports indicate decelerating growth in the U.S. economy, with inflation showing a disinflationary trend.
Read our full article
#Ethereum #ETH #ETFs #EthereumETFs #EthereumPrice
The U.S. Securities and Exchange Commission (SEC) has provisionally approved several Ethereum (ETH) exchange-traded funds (ETFs), marking a significant milestone for the cryptocurrency market.
✨Key Highlights:
👉SEC Approval and Launch Details:
The SEC's provisional approval of Ethereum ETFs has been a highly anticipated event in the crypto community. Notices posted on the Chicago Board Options Exchange (Cboe) website confirmed that trading would commence on July 23, 2024.
👉The ETFs set to begin trading include:
21Shares Core Ethereum ETF (CETH)
Fidelity Ethereum Fund (FETH)
Franklin Ethereum ETF (EZET)
Invesco Galaxy Ethereum ETF (QETH)
VanEck Ethereum ETF (ETHV)
👉Market Impact and Predictions:
The launch of Ethereum ETFs is expected to significantly boost Ethereum's accessibility among traditional investors. The potential inflows from these ETFs could be substantial, with estimates ranging from $1.5 to $5 billion within the first six months of trading. This influx of capital is projected to elevate Ethereum's value in U.S.-based spot ETFs to $13-$15 billion by the end of the year.
👉Price Predictions:
Market analysts have provided a range of predictions regarding Ethereum's price following the ETF launch. Some estimates suggest that $ETH could reach $5,000 to $6,000 by the end of the year, with even more optimistic projections aiming for $8,000 or higher. Historical parallels with Bitcoin's performance post-ETF approval lend credence to these bullish forecasts.
👉Broader Market Conditions:
The broader market conditions, including Federal Reserve policies and economic indicators, will play a crucial role in shaping Ethereum's future. Recent economic reports indicate decelerating growth in the U.S. economy, with inflation showing a disinflationary trend.
Read our full article
#Ethereum #ETH #ETFs #EthereumETFs #EthereumPrice
The Crypto Sage: Ethereum ETFs on the Horizon - A New Era Begins
Introduction
Reading Time: 8 minutes
In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has provisionally approved several Ethereum (ETH) exchange-traded funds (ETFs), marking a significant milestone for the cryptocurrency market. On July 23, Ethereum ETFs from prominent asset managers such as BlackRock, VanEck, and Franklin Templeton began trading, providing investors with a new way to gain exposure to the second-largest cryptocurrency by market cap. This article explores the implications of this development, the market reactions, and what it means for the future of Ethereum and the broader crypto landscape.
Overview of Ethereum ETFs
SEC Approval and Launch Details
The SEC's provisional approval of Ethereum ETFs has been a highly anticipated event in the crypto community. Notices posted on the Chicago Board Options Exchange (Cboe) website confirmed that trading started on July 23, 2024. The ETFs set to begin trading include:
21Shares Core Ethereum ETF (CETH)Fidelity Ethereum Fund (FETH)Franklin Ethereum ETF (EZET)Invesco Galaxy Ethereum ETF (QETH)VanEck Ethereum ETF (ETHV)
This move follows the unexpected approval of spot Ethereum ETFs by the SEC in May, a mere four months after the first spot Bitcoin ETFs began trading in the United States. The approval process required issuers to submit final S-1 forms, including fee information, by Wednesday this week, as highlighted by Bloomberg's Senior ETF Analyst Eric Balchunas and confirmed by multiple sources (CoinGape) (Exploding Topics).
Industry Impact and Market Reactions
The launch of Ethereum ETFs is expected to significantly boost Ethereum's accessibility among traditional investors. The potential inflows from these ETFs could be substantial, with estimates ranging from $1.5 to $5 billion within the first six months of trading. This influx of capital is projected to elevate Ethereum's value in U.S.-based spot ETFs to $13-$15 billion by the end of the year (Exploding Topics).
Comparisons to Bitcoin ETFs
The success of Bitcoin ETFs has set a precedent for Ethereum ETFs. Bitcoin's clear narrative as "digital gold" has driven significant market demand and media attention. In contrast, Ethereum's complex use case as a technology platform presents unique challenges and opportunities for investors. Despite these differences, the approval of Ethereum ETFs signals broader acceptance of altcoin ETFs in traditional finance (TradFi) (Exploding Topics).
Factors Influencing Ethereum's Price
Lower Supply on Exchanges
One critical factor influencing Ethereum's price is its lower supply on exchanges compared to Bitcoin. A significant portion of ETH is locked in staking and smart contracts, suggesting strong holding sentiment among investors. This reduced circulating supply, coupled with the anticipated ETF inflows, could lead to a pronounced price impact (CoinGape) (Exploding Topics).
$ETH Predictions and Market Sentiment
Market analysts have provided a range of predictions regarding Ethereum's price following the ETF launch. Some estimates suggest that $ETH could reach $5,000 to $6,000 by the end of the year, with even more optimistic projections aiming for $8,000 or higher. Historical parallels with Bitcoin's performance post-ETF approval lend credence to these bullish forecasts. For instance, Bitcoin experienced a 75% rally over 63 days following its ETF approval, a trend that could potentially repeat for Ethereum (LiveCoinWatch).
Broader Market Conditions
Federal Reserve Policies and Economic Indicators
The broader market conditions, including Federal Reserve policies and economic indicators, will play a crucial role in shaping Ethereum's future. Recent economic reports indicate decelerating growth in the U.S. economy, with inflation showing a disinflationary trend. The potential for the Federal Reserve to cut rates, especially if employment data deteriorates, could further influence market dynamics. A 50 basis point rate cut in September is a possibility, which could boost investor confidence and market activity (Exploding Topics) (LiveCoinWatch).
Regulatory Landscape
The SEC's evolving stance on cryptocurrency regulation has been pivotal in the approval of Ethereum ETFs. Initially cautious about Ethereum, the SEC's recent actions, including dropping its investigation into Ethereum 2.0, reflect a more favorable regulatory environment. This shift is likely influenced by the success of Bitcoin ETFs and the growing institutional interest in digital assets (Exploding Topics) (Exploding Topics).
Conclusion
The launch of Ethereum ETFs on July 23 marks a new era for the cryptocurrency market, providing a regulated and accessible investment avenue for traditional investors. The potential inflows from these ETFs, coupled with Ethereum's strong fundamentals and broader market conditions, suggest a positive outlook for ETH in the coming months. As always, investors should stay informed and consider the risks before making investment decisions.
References
ReutersBloombergEric Balchunas' TwitterCoinMarketCapU.S. Securities and Exchange Commission (SEC)
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article are based on current market conditions and the author's analysis. Readers are encouraged to do thorough research and consult with financial advisors before making any investment decisions. The Crypto Sage is not responsible for any financial losses.
#Ethereum #ETH #ETFs #EthereumETFs #EthereumPrice
Reading Time: 8 minutes
In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has provisionally approved several Ethereum (ETH) exchange-traded funds (ETFs), marking a significant milestone for the cryptocurrency market. On July 23, Ethereum ETFs from prominent asset managers such as BlackRock, VanEck, and Franklin Templeton began trading, providing investors with a new way to gain exposure to the second-largest cryptocurrency by market cap. This article explores the implications of this development, the market reactions, and what it means for the future of Ethereum and the broader crypto landscape.
Overview of Ethereum ETFs
SEC Approval and Launch Details
The SEC's provisional approval of Ethereum ETFs has been a highly anticipated event in the crypto community. Notices posted on the Chicago Board Options Exchange (Cboe) website confirmed that trading started on July 23, 2024. The ETFs set to begin trading include:
21Shares Core Ethereum ETF (CETH)Fidelity Ethereum Fund (FETH)Franklin Ethereum ETF (EZET)Invesco Galaxy Ethereum ETF (QETH)VanEck Ethereum ETF (ETHV)
This move follows the unexpected approval of spot Ethereum ETFs by the SEC in May, a mere four months after the first spot Bitcoin ETFs began trading in the United States. The approval process required issuers to submit final S-1 forms, including fee information, by Wednesday this week, as highlighted by Bloomberg's Senior ETF Analyst Eric Balchunas and confirmed by multiple sources (CoinGape) (Exploding Topics).
Industry Impact and Market Reactions
The launch of Ethereum ETFs is expected to significantly boost Ethereum's accessibility among traditional investors. The potential inflows from these ETFs could be substantial, with estimates ranging from $1.5 to $5 billion within the first six months of trading. This influx of capital is projected to elevate Ethereum's value in U.S.-based spot ETFs to $13-$15 billion by the end of the year (Exploding Topics).
Comparisons to Bitcoin ETFs
The success of Bitcoin ETFs has set a precedent for Ethereum ETFs. Bitcoin's clear narrative as "digital gold" has driven significant market demand and media attention. In contrast, Ethereum's complex use case as a technology platform presents unique challenges and opportunities for investors. Despite these differences, the approval of Ethereum ETFs signals broader acceptance of altcoin ETFs in traditional finance (TradFi) (Exploding Topics).
Factors Influencing Ethereum's Price
Lower Supply on Exchanges
One critical factor influencing Ethereum's price is its lower supply on exchanges compared to Bitcoin. A significant portion of ETH is locked in staking and smart contracts, suggesting strong holding sentiment among investors. This reduced circulating supply, coupled with the anticipated ETF inflows, could lead to a pronounced price impact (CoinGape) (Exploding Topics).
$ETH Predictions and Market Sentiment
Market analysts have provided a range of predictions regarding Ethereum's price following the ETF launch. Some estimates suggest that $ETH could reach $5,000 to $6,000 by the end of the year, with even more optimistic projections aiming for $8,000 or higher. Historical parallels with Bitcoin's performance post-ETF approval lend credence to these bullish forecasts. For instance, Bitcoin experienced a 75% rally over 63 days following its ETF approval, a trend that could potentially repeat for Ethereum (LiveCoinWatch).
Broader Market Conditions
Federal Reserve Policies and Economic Indicators
The broader market conditions, including Federal Reserve policies and economic indicators, will play a crucial role in shaping Ethereum's future. Recent economic reports indicate decelerating growth in the U.S. economy, with inflation showing a disinflationary trend. The potential for the Federal Reserve to cut rates, especially if employment data deteriorates, could further influence market dynamics. A 50 basis point rate cut in September is a possibility, which could boost investor confidence and market activity (Exploding Topics) (LiveCoinWatch).
Regulatory Landscape
The SEC's evolving stance on cryptocurrency regulation has been pivotal in the approval of Ethereum ETFs. Initially cautious about Ethereum, the SEC's recent actions, including dropping its investigation into Ethereum 2.0, reflect a more favorable regulatory environment. This shift is likely influenced by the success of Bitcoin ETFs and the growing institutional interest in digital assets (Exploding Topics) (Exploding Topics).
Conclusion
The launch of Ethereum ETFs on July 23 marks a new era for the cryptocurrency market, providing a regulated and accessible investment avenue for traditional investors. The potential inflows from these ETFs, coupled with Ethereum's strong fundamentals and broader market conditions, suggest a positive outlook for ETH in the coming months. As always, investors should stay informed and consider the risks before making investment decisions.
References
ReutersBloombergEric Balchunas' TwitterCoinMarketCapU.S. Securities and Exchange Commission (SEC)
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article are based on current market conditions and the author's analysis. Readers are encouraged to do thorough research and consult with financial advisors before making any investment decisions. The Crypto Sage is not responsible for any financial losses.
#Ethereum #ETH #ETFs #EthereumETFs #EthereumPrice
#EthereumPrice Stays Strong: Will $ETH Continue To Rise?
Ethereum Price Analysis: Struggle Near $3,500 Resistance
Ethereum is consolidating above $3,380 after failing to surpass the $3,500 resistance zone, remaining above the 100-hourly Simple Moving Average (SMA) and showing potential for another increase.
Key Points:
- Resistance: Ethereum faces resistance around $3,500, with immediate resistance near $3,450 and significant levels at $3,640 and $3,750.
- Support: Key support levels include $3,380, $3,350, $3,270, $3,220, and $3,150.
- Trend Line: A bullish trend line with support at $3,375 is forming on the hourly chart (ETH/USD via Kraken).
- Technical Indicators: Hourly MACD is losing momentum in the bullish zone, and the RSI is below 50.
Price Movement:
Ethereum's attempt to break $3,500 led to a correction, dipping below $3,450 and $3,420, and testing $3,375. It’s now consolidating above the 23.6% Fib retracement level from the $3,516 swing high to the $3,376 low. Ethereum trades above $3,375 and the 100-hourly SMA.
A close above $3,500 could propel ETH towards $3,550 and $3,640, with potential for $3,750. Failure to break $3,450 could lead to declines towards the $3,350 and $3,270 supports.
Conclusion:
Ethereum's price is holding key supports and shows potential for another rise if it surpasses the $3,450 and $3,500 resistances.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareTrends #CryptoMarkets
Ethereum Price Analysis: Struggle Near $3,500 Resistance
Ethereum is consolidating above $3,380 after failing to surpass the $3,500 resistance zone, remaining above the 100-hourly Simple Moving Average (SMA) and showing potential for another increase.
Key Points:
- Resistance: Ethereum faces resistance around $3,500, with immediate resistance near $3,450 and significant levels at $3,640 and $3,750.
- Support: Key support levels include $3,380, $3,350, $3,270, $3,220, and $3,150.
- Trend Line: A bullish trend line with support at $3,375 is forming on the hourly chart (ETH/USD via Kraken).
- Technical Indicators: Hourly MACD is losing momentum in the bullish zone, and the RSI is below 50.
Price Movement:
Ethereum's attempt to break $3,500 led to a correction, dipping below $3,450 and $3,420, and testing $3,375. It’s now consolidating above the 23.6% Fib retracement level from the $3,516 swing high to the $3,376 low. Ethereum trades above $3,375 and the 100-hourly SMA.
A close above $3,500 could propel ETH towards $3,550 and $3,640, with potential for $3,750. Failure to break $3,450 could lead to declines towards the $3,350 and $3,270 supports.
Conclusion:
Ethereum's price is holding key supports and shows potential for another rise if it surpasses the $3,450 and $3,500 resistances.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareTrends #CryptoMarkets
Impact of SEC's Approval of Ethereum ETFs on DeFi
The SEC's approval of ETH ETFs marks a significant milestone for the cryptocurrency market.
Increased Institutional Interest
Capital Influx: The approval of ETH ETFs is likely to attract substantial institutional investment. These investors, who are often more risk-averse, may start exploring DeFi projects for higher yields and innovative financial products once they are comfortable with regulated ETH investments.
Liquidity Boost: More institutional money in the ETH ecosystem can increase liquidity across DeFi platforms, making it easier for users to trade, lend, and borrow assets.
Enhanced Legitimacy
Credibility and Trust: SEC approval lends significant credibility to ETH and, by extension, the DeFi projects built on it. This can increase trust among users and investors who were previously skeptical about the space due to regulatory uncertainties.
Mainstream Adoption: With ETH ETFs approved, more mainstream financial institutions may feel comfortable engaging with DeFi protocols.
Innovation and Development
Funding and Development: Increased investment and attention can lead to more funding for DeFi projects, fostering innovation and development. Developers might create more sophisticated and user-friendly applications, driving further growth in the sector.
Partnerships and Integrations: Traditional financial institutions might seek partnerships with DeFi projects, leading to innovative financial products that bridge the gap between traditional finance and DeFi.
Regulatory Scrutiny
Increased Oversight: The influx of institutional money and attention will likely bring more regulatory scrutiny to DeFi platforms.
Compliance Challenges: DeFi projects may need to adopt more robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures.
This is for educational and informational purposes only and it is not financial or investment advice. You should perform your own research or consult with a financial advisor before making any investment decisions.
#CryptoForecast #DeFiGrowth #EthereumPrice
The SEC's approval of ETH ETFs marks a significant milestone for the cryptocurrency market.
Increased Institutional Interest
Capital Influx: The approval of ETH ETFs is likely to attract substantial institutional investment. These investors, who are often more risk-averse, may start exploring DeFi projects for higher yields and innovative financial products once they are comfortable with regulated ETH investments.
Liquidity Boost: More institutional money in the ETH ecosystem can increase liquidity across DeFi platforms, making it easier for users to trade, lend, and borrow assets.
Enhanced Legitimacy
Credibility and Trust: SEC approval lends significant credibility to ETH and, by extension, the DeFi projects built on it. This can increase trust among users and investors who were previously skeptical about the space due to regulatory uncertainties.
Mainstream Adoption: With ETH ETFs approved, more mainstream financial institutions may feel comfortable engaging with DeFi protocols.
Innovation and Development
Funding and Development: Increased investment and attention can lead to more funding for DeFi projects, fostering innovation and development. Developers might create more sophisticated and user-friendly applications, driving further growth in the sector.
Partnerships and Integrations: Traditional financial institutions might seek partnerships with DeFi projects, leading to innovative financial products that bridge the gap between traditional finance and DeFi.
Regulatory Scrutiny
Increased Oversight: The influx of institutional money and attention will likely bring more regulatory scrutiny to DeFi platforms.
Compliance Challenges: DeFi projects may need to adopt more robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures.
This is for educational and informational purposes only and it is not financial or investment advice. You should perform your own research or consult with a financial advisor before making any investment decisions.
#CryptoForecast #DeFiGrowth #EthereumPrice
Forecasting ETH Prices Post-ETF Approval
To forecast ETH prices in the upcoming months of 2024 following the ETF approval, we can draw parallels from Bitcoin’s performance post-ETF approval and consider the unique factors impacting ETH.
Analyzing Bitcoin’s Historical Performance Post-ETF Approval
Bitcoin ( $BTC ) saw significant gains after the approval of Bitcoin ETFs, primarily driven by:
⭐Increased Institutional Investment: The approval brought substantial institutional capital into Bitcoin, boosting its price.
⭐Market Legitimacy: Enhanced legitimacy attracted more retail investors.
⭐Positive Market Sentiment: The overall positive sentiment in the crypto market led to further price increases.
ETH Unique Factors
While ETH will likely benefit from similar dynamics, we should also consider:
👉DeFi Ecosystem: Ethereum’s stronghold in the DeFi space will attract more investments.
👉Layer 2 Solutions: Continued development and adoption of Layer 2 solutions like Optimism and Arbitrum will enhance Ethereum’s scalability and usability.
👉Staking and ETH 2.0: The transition to Ethereum 2.0 and staking rewards will drive more demand for ETH.
Forecast Model
$ETH Month-by-Month Forecast
- June 24: $3,750 \times 1.03 = $3,862
- July 24: $3,862 \times 1.03 = $3,978
- August 24: $3,978 \times 1.03 = $4,097
- September 24: $4,097 \times 1.03 = $4,220
- October 24: $4,220 \times 1.03 = $4,347
- November 24: $4,347 \times 1.03 = $4,478
Based on a conservative growth estimate of 20% over the next six months, ETH could potentially reach around $4,478 by November 2024.
While historical trends and market factors offer valuable insights, the inherently volatile nature of cryptocurrencies means actual prices may vary.
The information provided here is for educational and informational purposes only and should not be construed as financial or investment advice. You should perform your own research or consult with a financial advisor before making any investment decisions.
#EthereumETF #DeFiGrowth #EthereumPrice #ETH #Write2Earn
To forecast ETH prices in the upcoming months of 2024 following the ETF approval, we can draw parallels from Bitcoin’s performance post-ETF approval and consider the unique factors impacting ETH.
Analyzing Bitcoin’s Historical Performance Post-ETF Approval
Bitcoin ( $BTC ) saw significant gains after the approval of Bitcoin ETFs, primarily driven by:
⭐Increased Institutional Investment: The approval brought substantial institutional capital into Bitcoin, boosting its price.
⭐Market Legitimacy: Enhanced legitimacy attracted more retail investors.
⭐Positive Market Sentiment: The overall positive sentiment in the crypto market led to further price increases.
ETH Unique Factors
While ETH will likely benefit from similar dynamics, we should also consider:
👉DeFi Ecosystem: Ethereum’s stronghold in the DeFi space will attract more investments.
👉Layer 2 Solutions: Continued development and adoption of Layer 2 solutions like Optimism and Arbitrum will enhance Ethereum’s scalability and usability.
👉Staking and ETH 2.0: The transition to Ethereum 2.0 and staking rewards will drive more demand for ETH.
Forecast Model
$ETH Month-by-Month Forecast
- June 24: $3,750 \times 1.03 = $3,862
- July 24: $3,862 \times 1.03 = $3,978
- August 24: $3,978 \times 1.03 = $4,097
- September 24: $4,097 \times 1.03 = $4,220
- October 24: $4,220 \times 1.03 = $4,347
- November 24: $4,347 \times 1.03 = $4,478
Based on a conservative growth estimate of 20% over the next six months, ETH could potentially reach around $4,478 by November 2024.
While historical trends and market factors offer valuable insights, the inherently volatile nature of cryptocurrencies means actual prices may vary.
The information provided here is for educational and informational purposes only and should not be construed as financial or investment advice. You should perform your own research or consult with a financial advisor before making any investment decisions.
#EthereumETF #DeFiGrowth #EthereumPrice #ETH #Write2Earn
👉👉👉#EthereumPrice Dips Alongside Bitcoin, Decoding Key Hurdles To Fresh Increase
Ethereum encountered resistance around $2,550 and $2,580, initiating a decline below the $2,500 support against the US Dollar. ETH is currently trading below $2,500 and the 100-hourly Simple Moving Average. A bearish trend line is forming with resistance near $2,480 on the hourly chart of ETH/USD.
After failing to surpass resistance at $2,550 and $2,580, Ethereum faced renewed selling pressure, mirroring Bitcoin's decline. ETH dipped below $2,450, establishing a weekly low near $2,424, and is currently consolidating losses. Despite a minor recovery above $2,450, the bears resisted near the 23.6% Fib retracement level of the downward move from the $2,614 swing high to the $2,424 low.
As Ethereum trades below $2,500 and the 100-hourly SMA, it encounters resistance near $2,465, with a bearish trend line forming around $2,480 on the hourly chart. The $2,520 level represents the next significant resistance, and a clear break above it could lead to further gains towards $2,580. The crucial hurdle beyond that is around $2,620, and if successfully surpassed, Ethereum could aim for $2,680.
However, if ETH fails to overcome the $2,520 resistance, it may resume its decline. Initial support lies near $2,440, followed by the critical $2,425 level. A break below $2,425 could extend losses, testing the $2,350 support. Further downside momentum might target the $2,320 level.
The hourly #MACD for ETH/USD is in the bearish zone, and the hourly #RSI is below 50, indicating increased selling pressure. The key support is at $2,425, while resistance levels include $2,480 and $2,520.
In summary, Ethereum faces hurdles near $2,480 and $2,520, and a successful break above these levels is crucial for a bullish continuation. On the downside, breaching the $2,425 support may lead to extended losses towards $2,350.
Source - newsbtc.com
#CryptoNews #BinanceSquare $ETH
Ethereum encountered resistance around $2,550 and $2,580, initiating a decline below the $2,500 support against the US Dollar. ETH is currently trading below $2,500 and the 100-hourly Simple Moving Average. A bearish trend line is forming with resistance near $2,480 on the hourly chart of ETH/USD.
After failing to surpass resistance at $2,550 and $2,580, Ethereum faced renewed selling pressure, mirroring Bitcoin's decline. ETH dipped below $2,450, establishing a weekly low near $2,424, and is currently consolidating losses. Despite a minor recovery above $2,450, the bears resisted near the 23.6% Fib retracement level of the downward move from the $2,614 swing high to the $2,424 low.
As Ethereum trades below $2,500 and the 100-hourly SMA, it encounters resistance near $2,465, with a bearish trend line forming around $2,480 on the hourly chart. The $2,520 level represents the next significant resistance, and a clear break above it could lead to further gains towards $2,580. The crucial hurdle beyond that is around $2,620, and if successfully surpassed, Ethereum could aim for $2,680.
However, if ETH fails to overcome the $2,520 resistance, it may resume its decline. Initial support lies near $2,440, followed by the critical $2,425 level. A break below $2,425 could extend losses, testing the $2,350 support. Further downside momentum might target the $2,320 level.
The hourly #MACD for ETH/USD is in the bearish zone, and the hourly #RSI is below 50, indicating increased selling pressure. The key support is at $2,425, while resistance levels include $2,480 and $2,520.
In summary, Ethereum faces hurdles near $2,480 and $2,520, and a successful break above these levels is crucial for a bullish continuation. On the downside, breaching the $2,425 support may lead to extended losses towards $2,350.
Source - newsbtc.com
#CryptoNews #BinanceSquare $ETH
📈 Analyst Markus Thielen of Matrixport suggests Ethereum (ETH) could rise to $3,000, driven by the altcoin frenzy, as Ethereum's weekly revenue surpasses $30 million for two consecutive weeks. 🚀🔮 #EthereumPrice #CryptoMarkets #Altcoins
#EthereumPrice Plummets: Potential Recovery Hindered by #BEARISH📉 Pressure
Ethereum Price Declines Below Key Support Levels
Ethereum failed to surpass the $3,520 zone and initiated a fresh decline, dropping below the $3,250 support and testing the $3,150 zone.
Key Points:
- Ethereum began a downward trend below $3,320 and $3,250.
- The price is trading below $3,250 and the 100-hourly Simple Moving Average.
- A key bearish trend line with resistance near $3,325 is forming on the hourly chart of ETH/USD (data via Kraken).
- Gains might be limited above the $3,320 zone.
Price Analysis:
Ethereum couldn't sustain momentum above $3,450 and $3,420, leading to a decline below $3,320. It fell past $3,250 and $3,220, testing the $3,150 support after a 5% drop. A low was formed at $3,156, with the price now consolidating losses. ETH is testing the 23.6% Fib retracement level from the $3,426 swing high to the $3,156 low.
Trading below $3,300 and the 100-hourly SMA, ETH may face resistance at $3,250 and $3,300. The major resistance levels are $3,325 and $3,365. Breaking above $3,365 could push ETH toward $3,450 and potentially $3,500.
Potential for Another Decline:
If Ethereum fails to clear $3,320, it may continue declining. Initial support is at $3,200, with major support at $3,150. A move below $3,150 could drive ETH toward $3,080 or $3,050.
Technical Indicators:
- Hourly MACD: Gaining momentum in the bearish zone.
- Hourly RSI: Below the 50 level.
- Major Support Level: $3,150
- Major Resistance Level: $3,320
Source - newsbtc.com
Ethereum Price Declines Below Key Support Levels
Ethereum failed to surpass the $3,520 zone and initiated a fresh decline, dropping below the $3,250 support and testing the $3,150 zone.
Key Points:
- Ethereum began a downward trend below $3,320 and $3,250.
- The price is trading below $3,250 and the 100-hourly Simple Moving Average.
- A key bearish trend line with resistance near $3,325 is forming on the hourly chart of ETH/USD (data via Kraken).
- Gains might be limited above the $3,320 zone.
Price Analysis:
Ethereum couldn't sustain momentum above $3,450 and $3,420, leading to a decline below $3,320. It fell past $3,250 and $3,220, testing the $3,150 support after a 5% drop. A low was formed at $3,156, with the price now consolidating losses. ETH is testing the 23.6% Fib retracement level from the $3,426 swing high to the $3,156 low.
Trading below $3,300 and the 100-hourly SMA, ETH may face resistance at $3,250 and $3,300. The major resistance levels are $3,325 and $3,365. Breaking above $3,365 could push ETH toward $3,450 and potentially $3,500.
Potential for Another Decline:
If Ethereum fails to clear $3,320, it may continue declining. Initial support is at $3,200, with major support at $3,150. A move below $3,150 could drive ETH toward $3,080 or $3,050.
Technical Indicators:
- Hourly MACD: Gaining momentum in the bearish zone.
- Hourly RSI: Below the 50 level.
- Major Support Level: $3,150
- Major Resistance Level: $3,320
Source - newsbtc.com
💥💥💥 #EthereumPrice Analysis: Declining Volume Sparks Doubts on $3000 Breakout
In the second week of July, Ethereum experienced a notable relief rally. The price surged from the monthly support level of $2,825 to $3,196, marking a weekly increase of 13.2%. This recovery was fueled by market optimism surrounding the potential approval of spot $ETH ETFs and a reduction in broader market supply. The question now is whether this correction trend has concluded.
Source - coingape.com
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#CryptoMarketTrend
In the second week of July, Ethereum experienced a notable relief rally. The price surged from the monthly support level of $2,825 to $3,196, marking a weekly increase of 13.2%. This recovery was fueled by market optimism surrounding the potential approval of spot $ETH ETFs and a reduction in broader market supply. The question now is whether this correction trend has concluded.
Source - coingape.com
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💥💥💥 #EthereumPrice Targets Upside Break: Positive Indicators Light the Path
Ethereum Price Outlook: Recovery Potential and Key Levels
Ethereum's price is showing signs of a potential recovery. The cryptocurrency could gain bullish momentum if it moves decisively above the $3,110 resistance level.
Current Price Action:
- Ethereum is gradually moving higher, trading above $3,000 and the 100-hour Simple Moving Average (SMA).
- A short-term declining channel or bullish flag is forming with resistance near $3,080 on the hourly chart of ETH/USD (data feed via Kraken).
Recovery Potential:
- Ethereum has remained stable above the $2,880 support zone. The price climbed above $2,950 and later cleared the $3,050 resistance before encountering bearish pressure.
- The pair tested the $3,120 resistance zone, forming a high at $3,110. Currently, the price is consolidating gains with a minor decline below $3,080 and under the 23.6% Fibonacci retracement level of the upward move from $2,895 to $3,110.
Key Resistance and Support Levels:
- Resistance: The first major resistance is near $3,110. A clear move above this level could push Ethereum towards $3,150 and potentially higher, with the next major resistance at $3,220. Further gains could see the price approach $3,320 and possibly $3,500.
- Support: If Ethereum fails to break the $3,110 resistance, it could face another decline. Initial support is near $3,020, with the first major support around $2,975, coinciding with the 61.8% Fibonacci retracement level. A drop below $2,975 might lead to further declines towards $2,920, with potential for further losses towards $2,820.
Technical Indicators:
- Hourly MACD: The MACD for ETH/USD is losing momentum in the bullish zone.
- Hourly RSI: The RSI for ETH/USD is above the 50 mark, indicating a balanced market.
Ethereum's price could experience a significant upward move if it surpasses the $3,110 resistance. However, failure to do so may lead to further declines, making the support levels crucial for maintaining the recovery trend.
Source - newsbtc.com
Ethereum Price Outlook: Recovery Potential and Key Levels
Ethereum's price is showing signs of a potential recovery. The cryptocurrency could gain bullish momentum if it moves decisively above the $3,110 resistance level.
Current Price Action:
- Ethereum is gradually moving higher, trading above $3,000 and the 100-hour Simple Moving Average (SMA).
- A short-term declining channel or bullish flag is forming with resistance near $3,080 on the hourly chart of ETH/USD (data feed via Kraken).
Recovery Potential:
- Ethereum has remained stable above the $2,880 support zone. The price climbed above $2,950 and later cleared the $3,050 resistance before encountering bearish pressure.
- The pair tested the $3,120 resistance zone, forming a high at $3,110. Currently, the price is consolidating gains with a minor decline below $3,080 and under the 23.6% Fibonacci retracement level of the upward move from $2,895 to $3,110.
Key Resistance and Support Levels:
- Resistance: The first major resistance is near $3,110. A clear move above this level could push Ethereum towards $3,150 and potentially higher, with the next major resistance at $3,220. Further gains could see the price approach $3,320 and possibly $3,500.
- Support: If Ethereum fails to break the $3,110 resistance, it could face another decline. Initial support is near $3,020, with the first major support around $2,975, coinciding with the 61.8% Fibonacci retracement level. A drop below $2,975 might lead to further declines towards $2,920, with potential for further losses towards $2,820.
Technical Indicators:
- Hourly MACD: The MACD for ETH/USD is losing momentum in the bullish zone.
- Hourly RSI: The RSI for ETH/USD is above the 50 mark, indicating a balanced market.
Ethereum's price could experience a significant upward move if it surpasses the $3,110 resistance. However, failure to do so may lead to further declines, making the support levels crucial for maintaining the recovery trend.
Source - newsbtc.com
