- Ether (ETH) rose on June 19 following the SEC closing its probe into ETH 2.0.
- As per QCP, the developments in ETH ETF approval also pushed the ETH price.
- QCP expects Ether to break above $4,000 and move towards its ATH.
Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has demonstrated positive momentum in its price action. According to QCP Capital, a leading digital asset trading firm based in Singapore, this optimism is reflected in the cryptocurrency’s upward price trajectory.
As highlighted by QCP in a Telegram message, ETH’s price on June 19 rebounded sharply from a morning low of $3,400, “with implied volatility notably increasing to 65% at the front end.” The firm cited two key factors for this sudden bullish momentum.
The primary factor is the U.S. Securities and Exchange Commission’s conclusion of its investigation into Ethereum 2.0, clearing it of any charges alleging that sales of ETH constitute securities transactions. The second is that applicants for spot ETH exchange-traded funds (ETFs) are “responding to SEC comments and aim to re-submit them this week.”
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