Ethereum Faces Selling Pressure as Approval Timeline for Spot ETF Remains Uncertain
The price of Ethereum (ETH), the world's second-largest cryptocurrency, has dropped by 5% in the last 24 hours and is currently trading at $2,213 with a market cap of $265 billion. Analysts predict that the price may fall by an additional 10% to reach $2,000. There are varying opinions on the approval timeline for an Ethereum Exchange-Traded Fund (ETF), with some sources expressing confidence in its approval while others believe the SEC is resistant to the idea. The interaction between Ethereum's price and the rising 200-day EMA presents an intriguing scenario that requires close observation to discern potential market dynamics.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: 10.3681 million SYRUP transferred from Syrup.fi, routed through intermediaries and flowed into Wintermute
Sahara AI: No unlocks or security incidents have occurred, investigation into abnormal market fluctuations is ongoing
CertiK: Approximately $127 million in confirmed losses from attacks, hacks, and scams in November
Trending news
MoreCrypto prices
More
