Published on mei 25, 2024, 12:26 am
Image source: Fox News
```json { "TLDR": "SEC approval of spot Ether ETFs hasn't caused immediate market rally for Ether or Bitcoin. Speculation arises if pricing already considered ETF decision. Analysts anticipate Ether ETFs launching in mid-June with potential positive impact on market. Bitcoin faces resistance near $73,777, could rally to $80,000 and $84,000 if breached; support at $59,600 if averages not maintained. Ether struggles below $3,730 but bounce towards $4,100 could lead to $4,868. Other altcoins experience volatility. Future predictions require monitoring support and resistance levels due to market fluctuations and trading risks." } ```
The recent approval of spot Ether ETFs by the SEC hasn’t sparked a notable rally in Ether or Bitcoin markets just yet, leading to speculations about whether the ETF decision was already factored into the pricing.
Although there hasn’t been an immediate significant price reaction, Bloomberg ETF analyst Eric Balchunas anticipates that the approved spot Ether ETFs will launch around mid-June and could attract 10-15% of the inflows observed by Bitcoin ETFs. This influx of funds into Ether ETFs might have a positive impact on the spot market moving forward.
Despite Bitcoin’s current sideways movement, Fundstrat Global Advisors’ Tom Lee remains optimistic, projecting a base case scenario for Bitcoin of $150,000 by year-end.
Looking at the top 10 cryptocurrencies, Bitcoin appears to be facing resistance near $73,777 with potential for a rally towards $80,000 and $84,000 upon breaching this level. Conversely, failure to maintain above moving averages could lead to a drop to strong support at $59,600.
On the other hand, Ether’s price struggle is evident as it hovers below $3,730. A successful bounce off this level towards $4,100 could catapult its value higher to $4,868. Similar volatile movements can be observed in other altcoins like BNB (BNB), Solana (SOL), XRP (XRP), Dogecoin (DOGE), Toncoin (TON), Cardano’s (ADA), Avalanche (AVAX), and Shiba Inu (SHIB).
As for future predictions and analysis for these altcoins, it’s crucial to keep a close eye on key support and resistance levels as they navigate through market fluctuations. Remember that all trading decisions involve risks that individuals should analyze independently before proceeding.
Original article posted by Fox News
