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Will the cryptocurrency market see Ethereum ETFs soon? And how are you going to change the price?

Many players in the digital currency market expect this. A decision From the United States Securities and Exchange Commission (SEC) regarding the launch of Ethereum Spot ETFs. He emphasized Leading experts In the industry, a decision could be imminent. They base their expectations on the Authority's past movements and current market conditions.

Nate Geraci, host of the ETF Prime podcast known for his expertise in the ETF space, expressed his positive outlook on the approval process.

And in Tweeter He said approval could be issued in the coming weeks. A maximum of two to three months.

Geraci believes that preliminary work done after the authority approved Bitcoin ETFs and Ethereum futures could speed up the process for Ethereum.

for his part, anticipation Eric Balchunas, senior ETF analyst at Bloomberg, said July 4 would be a possible launch date for the funds. This prediction was well received by Geraci, who believes it is on schedule.

Regulatory Pathway for Ethereum ETFs

The regulatory process for Ethereum ETFs has experienced complications and delays. But 19b-4 applications for eight spot Ethereum ETFs were approved on May 23. Which represents an important step forward.

However, Bloomberg analyst James Seyphart explained that approval of S-1 forms, which are documents required to register new securities with the SEC, is still pending. It may take weeks or months before Ethereum spot ETFs are acquired and launched.

The exchange between Geraci and Balchunas testifies to the optimism that reigns in the sector. Previous approvals of Bitcoin spot ETFs and Ethereum futures appear to have facilitated the rapid approval of Ethereum spot ETFs.

And afterward Stay tuned to the cryptocurrency community Given the SEC's decision, there remains hope that this decision will be positive and help promote the growth of the cryptocurrency market.

Technical forecast for the price of Ethereum (ETH).

Ethereum (ETH) price. He led a surge in the digital currency market, after signs emerged of a change in the SEC's stance toward spot ETFs. Afterwards, most expectations were pessimistic. Where high ETH Price So far, around 38% since last May 15.

Technically, the rising wave started from the ascending trendline, breaking through several resistance levels on its way, including the $3,650 area.

Ethereum (ETH) price technical chart.
Ethereum (ETH) price technical chart.

The price is now trading at $3,880, slightly below the pivotal psychological resistance level and this year's high at $4,000.

In the short term, it is very likely that we will see a return ETH Price For parallel transactions, awaiting confirmation of the approval decision. We could see a breakout from the $4,000 zone towards the $4,500 level.

A second bullish possibility could occur if the general market resumes a Bitcoin-led rally if it manages to surpass its all-time highs.

Overall, the medium- and long-term outlook remains positive for the second-largest digital currency on the market. In the short term, any pullbacks could provide daily trading opportunities, from the support levels shown in the chart.

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