- ETH rides high with U.S. ETF buzz, hitting a 30-day peak at $1,865.10 amidst robust whale backing.
- SEC’s recognition of Grayscale’s Ethereum ETF fuels market optimism, setting a bullish precedent for ETH.
- Technical indicators warn that ETH’s bullish spree may wane, hinting at potential price shifts ahead.
In a significant market move, Ethereum (ETH) mirrors a bullish trend, nudging a stable $1,800. The upswing follows buzzing anticipation around potential U.S. approvals of spot Bitcoin and Ethereum ETFs. Moreover, heightened Ethereum whale activity signals robust rally backing.
As a result, despite kicking off the day with an intra-day low of $1,781.04, a bullish mood has prevailed throughout the previous 24 hours. The bullish momentum successfully drove the ETH price to a 30-day high of $1,865.10, although it ran into some resistance. At press time, the bulls were still in charge of the ETH market, resulting in a 1.50% rise to $1,815.91.
ETH/USD 30-day price chart (source: Coinstats)
ETH’s market capitalization increased by 1.49% during the surge to $218,381,367,194, but its 24-hour trading volume decreased by 0.18% to $11,346,770,277. This decrease in …
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