$ETH / USD: Ethereum 🚨📈
1. ETH has just seen a pretty nice bid. As stated last week, the halving tends to be a nice area for ETHBTC to begin bottoming out. So far, ETH's last few days have seen some decent outperformance. We have time to tell whether this fades or begins to form a cycle bottom.
2. There are multiple filings for Ethereum Spot ETFs going around, they are currently delayed as the SEC is not ready to list them. Expect some news about this stuff in May, which could see the official listing of the ETF Spot ETFs, or a full denial/delay for them.
3. My main scenarios for this week:
1) Look for a breakout of $3370. This breakout would confirm a good move towards $3500, where ETH can tackle an important level to step back into the mid range.
Good levels on the way there are $3470 and $3560.
2) If ETH begins to drift towards $3000, I will be watching the $3060 level for a breakdown. If we do see that, I expect price to expand below it. Price could move closer to $2715, with the most recent lows being at $2540. Good levels on the way to $2715 where price could find support is $2925 and $2850.
