- Ethereum’s bearish phase may end from the SEC’s favorable decision.
- SEC closed investigation into Ethereum 2.0.
- Analyst CrediBULL predicts Ethereum could reach $6,600.
Ethereum’s (ETH) price has plummeted from a weekly high of over $3,600 to $3,374, but market analysts believe the cryptocurrency’s bearish phase may be nearing its end from the most recent regulatory developments.
Crypto analyst and educator, CrediBULL, expressed a strong bullish sentiment for ETH in a recent post on X (formerly Twitter). The analyst noted that recent price actions have solidified his confidence that the lower price region identified in his original chart analysis is now irrelevant.
With developing PA, now confident enough to say I think the lower region from my original chart is out of play.The SEC backing off $ETH is likely the nail in the coffin for bears here.
I think our green region here holds and $ETH looks good for new ATH. https://t.co/GA6aIc1MB9 pic.twitter.com/bHVfJMlcPB
— CrediBULL Crypto (@CredibleCrypto) June 19, 2024
CrediBULL highlighted the significant impact of the U.S. Securities and Exchange Commission easing its scrutiny on Ethereum. Earlier in the d…
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