Is the Ethereum Spot ETF a Game-Changer or Just Speculation?

Analysts raise approval odds from 25% to 75% unexpectedly.

• 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

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