Lokesh Gupta
21-05-2024
The U.S. SEC urged the issuer to update their 19b-4 filings for a spot #Ethereum ETF on Monday.
Ethereum's price surged over 20% amid growing anticipation for an $ETH ETF, breaking through the $3,500 resistance zone.
On the daily chart, #Ethereum displayed bullish momentum, with a notable candle pushing levels from $3,000 to $3,700.
This surge propelled $ETH beyond a bearish, descending parallel channel, indicating considerable strength.
Currently, bulls are striving to overcome significant resistance levels at $3,730, which have previously resulted in multiple rejections.
According to Coingabbar Prediction, A breakout above $3,750 could lead bulls towards the $3,820 resistance, potentially paving the way to the $4,000 mark.
Conversely, if Ethereum drops below $3,500, bears might seize control, potentially driving the price towards the $3,240 support level.
KEY LEVELS :
RESISTANCE LEVEL : $3,730-$3,820
SUPPORT LEVEL : $3,580-$3,460
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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