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Ethereum Price Analysis: After a significant surge on Monday, <a href="https://coingape.com/blog/ethereum-altcoins-rallying-today-analysed/" rel="noopener noreferrer nofollow">Ethereum</a> traded sideways for the remainder of the week. This lo of momentum was likely due to the realization that ETF issuers must wait for the approval of their S-1 registration statements before trading can begin, which could take several weeks or even months. Currently, the <a href="https://coingape.com/vitalik-buterin-proposes-first-block-on-ethereum-layer-2-taiko-with-optimistic-note/" rel="noopener noreferrer nofollow">ETH price</a> is stabilizing above $3600, preparing for its next move.
Also Read: <a href="https://coingape.com/ethereum-etfs-may-propel-eth-to-record-highs-says-bitwise-cio/" rel="noopener noreferrer nofollow">Ethereum ETFs May Propel ETH to Record Highs, Says Bitwise CIO</a>
<h2 id="strong-ethereum-price-analysis-key-levels-to-watch-in-the-coming-weeks-strong">Ethereum Price Analysis: Key Levels to Watch in the Coming Weeks</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/q/qPeGHTsg.png" alt="BINANCE:ETHUSD Chart " width="1946" height="937">
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 Ethereum Price Analysis| Tradingview
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The second half of May has been strongly bullish for the Ethereum coin showcasing a price rally from $2860 to $3862 registering a 35% jump. This rally was initially triggered by Bitcoin uplifting the broader market sentiment but later witnessed higher momentum as US Sec approved spot Ethereum ETFs.
<blockquote>
 James Seyffart, a Bloomberg ETF analyst, has projected that the demand for <a href="https://coingape.com/michael-saylor-claims-ethereum-etf-approval-is-good-for-bitcoin/" rel="noopener noreferrer nofollow">spot Ethereum ETFs</a> could reach between 20% to 25% of the demand observed for spot Bitcoin ETFs. His analysis takes into account the current market size of Ethereum, which stands at approximately 30% of Bitcoin’s market size.&nbsp;
</blockquote>
<blockquote class="twitter-tweet">
 Bloomberg ETF analyst James Seyffart said demand for spot Ethereum ETFs could reach 20% to 25% of demand for spot Bitcoin ETFs. This prediction is based on the Ethereum market being approximately 30% the size of Bitcoin. Limitations of the Ethereum ETF include the inability to…
 — Wu Blockchain (@WuBlockchain) <a rel="noopener noreferrer nofollow" href="https://twitter.com/WuBlockchain/status/1794386721423171670?ref_src=twsrc%5Etfw">May 25, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> Seyffart also highlighted some inherent limitations in Ethereum ETFs, including the inability to stake tokens and the lack of on-chain utility that could be leveraged through such financial products.&nbsp;
Thus, the <a href="https://coingape.com/price-predictions/ethereum-eth-price-prediction/" rel="noopener noreferrer nofollow">ETH price</a> witnessed high volatility this week wavering above the $3600 level. If the support holds, the buyers are likely to challenge the $4090 resistance, in the coming week or two.
A potential breakout will accelerate the bullish momentum and chase a potential target of $4500, followed by $4900.
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical Indicator</h2>
<ul>
 <li aria-level="1">Exponential Moving Average: The coin price above daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMAs</a>(20, 50, 100, and 200) indicates the broader trend remains strongly bullish.</li>
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope at 33% indicates the ongoing may need an occasional pullback to replenish the exhausted recovery momentum.</li>
</ul>
The post <a href="https://coingape.com/markets/ethereum-price-analysis-eth-rebounds-3-spot-etf-ease/" rel="noopener noreferrer nofollow">Ethereum Price Analysis: ETH Rebounds 3% as Spot ETF Concerns Ease</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Ethereum Price Analysis: ETH Rebounds 3% as Spot ETF Concerns Ease

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