Rally

<ul class="news-points"> 
 <li><strong>If ETH holds above $2,130, it may rally if the SEC approves the Bitcoin ETF.</strong></li> 
 <li><strong>The resistance at $2,290 ensured that ETH’s price decreased to $2,226.</strong></li> 
 <li><strong>Open Interest decreased but may drive ETH to the key resistance at $2,290.</strong></li> 
</ul> 
<p>Crypto Tony, an investor in the market, told his 386,800 followers on X that <a href="https://coinedition.com/ethereum-price-soars-by-almost-10-after-buterins-2024-vision/">Ethereum’s (ETH</a>) ability to hold $2,130 would help it continue its rally. However, Tony also mentioned that the rally would only resume if the U.S. SEC approves the Bitcoin (BTC) ETFs.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a> / <a href="https://twitter.com/search?q=%24USD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USD</a> – Update <br><br>$2,130 hold this weekend for the rally to continue. This is all dependant on the ETF verdict for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> <a href="https://t.co/R7bYqgOTdj" target="_blank" rel="nofollow">pic.twitter.com/R7bYqgOTdj</a></p>— Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1743399978008019173?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">January 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>On January 2, the price of ETH jumped to $2,429, marking a 10% increase within 24 hours. But a day later, the price collapsed below $2,200. Coin Edition <a href="https://coinedition.com/bitcoin-braces-for-impact-will-sec-rejections-derail-the-crypto-rally/">reported</a> at that time how the FUD arose as a result of the speculation that the SEC would reject the <a href="https://coinedition.com/sec-meetings-fuel-speculation-on-imminent-spot-bitcoin-etf-approval/">Bitcoin ETFs</a>.</p> 
<p>However, recent events have shown that approval might be on the way. Also, market prices including that of ETH have stabilized.</p> 
<h2 class="wp-block-heading" id="h-the-altcoin-s-strength-has-waned">The Altcoin’s Strength Has Waned</h2> 
<p>At press time, ETH, despite losing 1.84% of it…</p>
<p>The post <a href="https://coinedition.com/analyst-says-eths-potential-rally-rests-on-bitcoin-heres-why/">Analyst Says ETH’s Potential Rally Rests on Bitcoin, Here’s Why</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Analyst Says ETH’s Potential Rally Rests on Bitcoin, Here’s Why

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