New All-Time High Beckons For Ether As Analyst Says SEC Dropping Securities Investigation Is ‘Nail In Coffin’ For Bears

New All-Time High Beckons For Ether As Analyst Says SEC Dropping Securities Investigation Is ‘Nail In Coffin’ For Bears
ôîòî ïîêàçàíî ñ : zycrypto.com

2024-6-21 22:43

While the price of Ethereum (ETH) has been struggling to break the $4,000 psychological mark, a widely followed analyst remains optimistic about the second-largest cryptocurrency.

Pseudonymous crypto analyst Credible Crypto says Ether’s price prospects are looking incredibly bullish after the U.S. Securities and Exchange Commission (SEC) officially closed its investigation into whether Ethereum is a security token.

Can SEC Dropping Probe Send ETH’s Price To New Highs?

On June 19, 2024, the Securities and Exchange Commission shocked the crypto industry by dropping its investigation into Ethereum 2.0 without launching charges against anyone.

The decision came after Consensys reportedly pushed the SEC to clarify ETH’s status as a security, given the regulator’s recent approval of certain spot Ethereum exchange-traded fund (ETF) application filings. Consensys noted that the SEC’s approval of spot Ether ETFs indicated that it had updated its position to categorize ETH as a commodity and not a security under the Howey investment contract test.

SEC’s clearance of Ethereum not only gives supporters a respite from some of the uncertainties surrounding Ether’s classification but also offers a glimmer of hope in an otherwise turbulent regulatory landscape.

Moreover, analyst Credible Crypto believes the regulator’s retreat is a bullish catalyst that could propel ether to a fresh lifetime high. “The SEC backing off ETH is likely the [last] nail in the coffin for bears here,” Credible Crypto opined.

The crypto trader suggests that the chance of Ethereum slipping below $1,600 is quite low as the second-biggest crypto’s support level lies between $2,800 and $3,430.

Ether’s price action could be further buoyed by institutional inflows from the first U.S.-listed spot ETH exchange-traded funds (ETFs), which are expected to debut on exchanges by July 2, according to Bloomberg ETF analyst Eric Balchunas.

ETH To Hit $10,000 By End Of 2024

Meanwhile, technical crypto analyst Yoddha highlighted Ethereum’s current price position on the chart, observing that there’s been some consolidation after the formation of a morning star, which indicates a bullish reversal from the bottom of a downswing.

“Ethereum is holding up the price pretty well and looks ready to go bonkers,” Yoddha postulated on Wednesday. “It will be above $10,000 before the end of the year. Mark my words,” Yoddha added.

At the time of writing, Ether is trading for $3,515. The asset is currently down 27.9% from its all-time high of $4,878.26 in November 2021.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) íà Currencies.ru

$ 3555.24 (-0.52%)
Îáúåì 24H $40.214b
Èçìåíåèÿ 24h: -2.05 %, 7d: 6.67 %
Cåãîäíÿ L: $3523.8 - H: $3665.21
Êàïèòàëèçàöèÿ $428.2b Rank 2
Öåíà â ÷àñ íîâîñòè $ 3477.02 (2.25%)

analyst struggling break ethereum eth psychological widely

analyst struggling → Ðåçóëüòàòîâ: 67


Ripple (XRP) Price Outlook: This Pattern Points to Potential Rally to $1.88

XRP has been struggling to gain upside momentum over the past couple weeks, with prices declining more than 10% from early November highs of $0.72 to current levels around $0.61. However, according to prominent Ripple analyst Dark Defender, XRP may be carving out a bullish cup and handle pattern that could precede a rally to […] The post Ripple (XRP) Price Outlook: This Pattern Points to Potential Rally to $1.88 appeared first on CaptainAltcoin.

2023-11-21 11:51


Despite Struggling Price, Bitcoin Exchange Reserve Hits Lowest Value Since Sept 2018

Despite the recent struggling Bitcoin price, on-chain data shows the exchange reserve has just hit the lowest value since September 2018. Bitcoin Exchange Reserve Declines To Lows Not Seen Since Sept 2018 As pointed out by an analyst in a CryptoQuant post, the BTC exchange reserve has observed further decline recently, reaching the lowest values in more than 3.

2022-3-1 22:00


Ôîòî:

Analyst Claims Ethereum is Almost Ready to See a Massive Markup to $800

Ethereum has been struggling to break free of its connection to Bitcoin, with the benchmark cryptocurrency having massive control over its price action This has so far been quite bearish for ETH, as it has caused the cryptocurrency to see notable losses on multiple occasions Where it trends next should depend largely on whether or not bulls and bears can hold BTC above $18,000, as a dip below this level could be grim One trader […]

2020-12-11 23:00


Ôîòî:

Analyst: Bitcoin is Forming a Grave Bearish Divergence on Its Macro Chart

Bitcoin has been struggling to hold above $19,000 following its latest rejection around its all-time highs The selling pressure at this level has proven to be quite intense, and it remains unclear as to when bulls will be able to surmount it For this region to be broken, Bitcoin’s buyers will first have to show some greater signs of strength, as they are currently struggling to hold the crypto above $19,000 A continued bout of […]

2020-12-3 02:00


Bitcoin is Poised to Rally Towards $17,000 Next as Outlook Grows Bright

Bitcoin has seen a quiet weekend of trading, with the cryptocurrency struggling to gain any immense momentum as bulls and bears reach an impasse This has led to a prolonged bout of sideways trading around $16,000, with bulls and bears both struggling to gain control of its near-term Its recent price action has done little to provide any insights into where it might trend over a mid-term time frame That being said, one analyst is […]

2020-11-16 19:39


Ôîòî:

Large Bitcoin Holders Just Moved 80,000 BTC; Analysts Grow Cautious

Bitcoin is in the process of testing its 2020 highs again as bulls attempt to take the reins and guide it to see further upside It has been struggling to gain any serious near-term momentum due to the selling pressure at $13,200, but once broken, it could rally towards $14,000 Despite its overt bullishness at the present moment, there are a few bearish signs that may indicate that a selloff is brewing One analyst is […]

2020-10-25 01:00


Ôîòî:

This Indicator With an 80% Strike Rate Just Flashed a Bullish Sign for Bitcoin

Bitcoin and the aggregated crypto market have been struggling to gain any significant momentum BTC has pushed off of its recent lows, however, it remains in a somewhat precarious position as its price continues trading sideways Where it trends next will likely depend largely on the stock market, which has had intense influence over its price action Still, its independent strength remains, as most on-chain indicators are flashing bullish signs One analyst is now noting […]

2020-10-18 19:00


Ôîòî:

Analyst: Bitcoin Would Rocket to $20k if It Were to Breakout Today

Bitcoin’s price has been struggling to gain any serious momentum over the past few days This has come about due to the stock market’s sideways trading, which is still holding heavy influence over that of BTC The cryptocurrency is facing some heightened selling pressure due to bearish developments within the market, but bulls have been absorbing the heavy influx of sell orders Where the entire market trends next may depend largely on Bitcoin One analyst […]

2020-10-18 01:00


Ôîòî:

Do or Die: Ethereum Tests Critical Support Region as Bears Try to Regain Control

Ethereum has been struggling to garner any technical strength in the time following its dip below $380 This is a critical level that has determined its trends in the past, and the break below it is quite bearish Where the entire market trends next will likely depend on Bitcoin, but any near-term BTC downside could force ETH below a critical support level It is currently trading just a hair above this level, and one analyst […]

2020-10-18 22:00


Ôîòî:

Ethereum Remains Strong So Long as It Defends One Critical Level

Ethereum and the entire cryptocurrency market are currently caught within a consolidation phase This has come about due to Bitcoin’s tight bout of trading between $11,400 and $11,600 ETH is trading above a critical level that it was previously struggling to surmount This is a bullish sign that indicates it may be well-positioned for a strong move higher in the near-term That being said, one analyst believes that ETH’s price could drift significantly lower while […]

2020-10-15 23:00


Ôîòî:

Analyst: Ethereum May Grind to $280 Before ETH 2.0 Hype Propels It Higher

Ethereum and other altcoins have been struggling to garner any strong momentum following the massive declines posted earlier this week This weakness came about as a result of Bitcoin’s rejection at $11,200, which is a level analysts have been watching Until BTC’s macro outlook begins growing more positive, Ethereum will likely continue struggling as well That being said, some positive technical developments in the coming months could help boost its outlook One analyst is noting […]

2020-9-24 23:00


Ôîòî:

Ethereum is “Fighting for Its Life” as Bulls Struggle to Defend Critical Support Level

Ethereum is currently in the process of rebounding from its daily lows that were set just a handful of hours ago The cryptocurrency has been facing heightened selling pressure as of late, struggling to build momentum as it remains below $370 One analyst is now stating that the cryptocurrency is “fighting for its life” as it trades right around a crucial support level Bulls and bears have largely been at an impasse when it comes […]

2020-9-17 23:00


Ôîòî:

Ethereum is Nearing Crucial Resistance; Rejection Here Could Spark Move to $300

Ethereum’s price is currently struggling to surmount some heavy resistance, which has caused it to lag behind Bitcoin today This resistance, which exists at $380, has hampered its price action on multiple occasions throughout the past few weeks Despite this, because BTC is now nearing $11,000, a break above this crucial level will likely catalyze some intense buying pressure that also creates a tailwind for ETH One analyst noted that this region of resistance between […]

2020-9-16 23:00


Ôîòî:

Bitcoin’s Critical Support is Degrading, and It’s Bad for Altcoins

Bitcoin is currently struggling to garner any notable upwards momentum as its price drifts towards its key support at $11,000 Sellers have been in firm control of its trend throughout the past several days and weeks Where it trends in the near-term will likely depend almost entirely on whether or not bulls can continue defending against a decline below $11,000 One analyst is noting that a key technical support level that was bolstering BTC is […]

2020-8-28 21:00


Ôîòî:

This Fractal Suggests Ethereum May Rally Past $500 Before Plunging Lower

Ethereum is struggling to maintain the slight momentum it found yesterday after its price reeled down to lows of $370 After bouncing up towards $390, bulls started facing faltering momentum that ultimately led the asset’s price back down towards sub-$380 Because Bitcoin is currently expressing signs of weakness, it remains incredibly unclear as to where the market may trend in the near-term One analyst is pointing to a strikingly accurate fractal for guidance, which shows […]

2020-8-27 23:00


Ôîòî:

Analyst: Bitcoin Likely to Tap $10,000 Unless Bulls Spark Strong Movement

Bitcoin has been oscillating between the lower and mid-$11,000 region throughout the past few days This rocky price action comes close on the heels of the harsh rejection at $12,000 that it posted this past weekend The cryptocurrency will likely continue struggling to garner any momentum as long as hovers below the upper-$11,000 region, which is where it faces some resistance Analysts do believe that some near-term downside could be imminent in the days and […]

2020-8-13 21:00


Ôîòî:

Bitcoin May Start a New Consolidation Trend After Facing Another $12k Rejection

Bitcoin is currently consolidating beneath $12,000 after facing a slight rejection at this level overnight The cryptocurrency has been struggling to break above this resistance for over a week One analyst is now noting that the resistance here may hold strong for the days to come, with BTC now kicking off a new consolidation phase Once the benchmark digital asset can break above this level, analysts are noting that a move to $13,000 will likely […]

2020-8-11 02:00


Here’s Why One Analyst Expects Ethereum to Tap $275 Before Pushing Any Higher

Ethereum has been struggling to break above $400 for the past several days The selling pressure here is quite significant, and a sustained break above this level would be a highly bullish technical development Because ETH has been consolidating just below it throughout the past few days, bulls may be gearing up for a major push higher Despite being technically strong, one analyst is still expecting the cryptocurrency to see another “scam wick” that leads […]

2020-8-7 23:00


Here’s Why Traders are Growing Cautious About Ethereum’s Uptrend

Ethereum has witnessed some incredibly mixed price action throughout the past few weeks After rallying up to highs of $415, it has been struggling to recapture this momentum as it largely trades below $400 Yesterday, ETH bulls pushed it to this key level before facing a massive influx of selling pressure that forced it lower It is now trading around its daily lows as bulls struggle to gain further momentum This has led one analyst […]

2020-8-5 23:00


One Crucial Factor Suggests Bitcoin‘s Intense Uptrend is About to Slow Down

Bitcoin and the entire crypto market are currently consolidating following the immense volatility seen throughout the past couple of days BTC bulls are currently attempting to establish $11,000 as a support level, although they appear to be struggling as the crypto hovers beneath this level The benchmark cryptocurrency also is flashing a few warning signs, including incredibly high funding rates across major trading platforms This has led one analyst to note that BTC needs some […]

2020-7-29 02:00


Ôîòî:

Bitcoin’s Price Spread on the CME is “Super Bullish” and Foretells Major Upside

Bitcoin has seen mixed price action in recent times, struggling to surmount $10,000 despite gaining a solid foothold within the $9,000 region Analysts are now noting that the cryptocurrency appears to be at a turning point as it trades directly between two CME gaps One analyst is also pointing to the massive BTC premium seen on the CME as a reason why the crypto is highly bullish Bitcoin saw some turbulent trading yesterday when sellers […]

2020-6-2 02:00


Ôîòî:

These Three Factors Show Bitcoin Will See a Massive Selloff at $10,000

Bitcoin has seen some incredibly mixed price action as of late, with BTC struggling to garner any notable momentum as it approaches its heavy resistance $10,000 This resistance has proven to be insurmountable on multiple occasions throughout the past several weeks and months One analyst is now noting that BTC’s ongoing rally up towards the five-figure price region is strikingly similar to that seen in months past Three factors signal that this rally could be […]

2020-6-1 19:00


Ôîòî:

Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price Bitcoin has […]

2020-5-9 21:00