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The post Ethereum Price Analysis: To Buy or Not To Buy Before The ETF? appeared first on Coinpedia Fintech News As the bull run in Ethereum continues for the second day with a 3.49% jump, the altcoin asserts dominion over the $3700 level. Amidst the bull run, the key factor remains the Ethereum Spot ETF and the U.S. SEC.  The market sentiments anticipate a positive outcome as the U.S. SEC is scheduled for VanEck’s application hearing on the Ether ETF. A positive hearing will boost the institutional and retail investment into the asset, just like Bitcoin or Gold, due to the additional credibility.  With the broader market and the underlying demand teasing the $4,000 breakout for Ether, let’s have a closer look at its chart. Will the ETH price continue the bull run, or will the demand fade after a negative outcome from the SEC? Check our Ethereum price analysis for a study on the short-term price movement. For a long-term perspective on whether the bull run in ETH price reaches $10,000, check out our Ethereum price prediction.   Ethereum Brings A Roundabout  In the monthly chart, the bull run in the ETH price trend forms a rounding bottom pattern. The neckline for this bullish trend continuation pattern is at $4635. Currently, the bullish comeback with the broader market recovery signifies a high likelihood of a breakout.  Tradingview With the 25% rise, the bullish engulfing monthly candle teases a trend continuation. Further, the comeback in ETH price starts with the successful retest of the 50% Fibonacci level.  Tradingview In the 1D chart, the ETH price displays a bullish breakout of a falling wedge pattern going straight up. The uptrend challenges the trend-based 50% Fib level and the $3800 level.  The bullish crossover in the MACD and signal lines continue to rise…

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Filed under: News - @ May 22, 2024 7:14 am