Technical Analysis
Ethereum is nearing the end of a falling wedge pattern, a bullish sign. If it can break above the wedge’s upper boundary, it could surge towards $4,000.
Market Sentiment
Ethereum is currently trading above $3,000 and has shown modest gains in recent days. It’s consolidating just above this level, possibly indicating a build-up for a significant move.
Regulatory Decisions
The SEC’s decision on a spot Ethereum ETF is expected this week. Analysts have mixed opinions on its approval chances.
Market Speculation
If the ETF is approved, it could boost Ethereum’s price. However, the SEC’s slow review process may delay its introduction.
