Ethereum

United

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-sees-potential-growth-with-spot-etf-approval/" data-wpel-link="internal">Ethereum Sees Potential Growth with Spot ETF Approval</a><br></p>
<p style="text-align: justify">The leading smart contract platform <a href="https://en.coin-turk.com/ethereums-dencun-upgrade-sparks-excitement-and-large-eth-transfers/" data-wpel-link="internal">Ethereum</a> (ETH) is among the altcoins significantly impacted by Bitcoin’s (BTC) decline. The potential approval of a spot ETF in Ethereum had triggered a price increase. While a similar rise was expected in Ethereum as seen in Bitcoin in recent months due to the spot ETF effect, what is the current situation with ETH?</p> 
<h2 id="spot-etf-in-ethereum">Spot ETF in Ethereum</h2> 
<p style="text-align: justify">In recent months, there was curiosity about whether the approved spot ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">applications</a> in Bitcoin would create a similar wave of increase in Ethereum. However, Ethereum is trading approximately $700 lower than its all-time high of $4,091. Addressing this situation, MN Capital’s founder Michael van de Poppe expressed his confidence in the ETH ecosystem and noted that this ecosystem has a very important support level.</p> 
<p style="text-align: justify">Van de Poppe commented on the recent drop in Ethereum <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">prices</a> a few days after the spot Ethereum ETFs were approved by the United States Securities and Exchange Commission (SEC). ETH fell by 13% to $3,426, and the analyst suggested that as the momentum towards listing the Ethereum ETF starts to emerge, the upward trend will gradually increase.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362628 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/ETHH.jpg" alt="" width="958" height="292"></p> 
<h2 id="historical-data-in-ethereum">Historical Data in Ethereum</h2> 
<p style="text-align: justify">Data obtained from the cryptocurrency analytics company IntoTheBlock shows that ETH is at a support level below $3,400. Additionally, the cryptocurrency analyst known as Yoddha emphasized that based on the price movement in the 12-day timeframe in Ethereum, ETH recently produced a candlestick above its annual highs by bouncing off this support level.</p> 
<p style="text-align: justify">According to the expert Yoddha, if history repeats itself in Ethereum, the token’s price will enter a parabolic upward trend with an upward target set around $20,000, making it one of the most bullish cryptocurrencies. He concluded his statements as follows:</p> 
<blockquote> 
 <p style="text-align: justify">Ethereum is currently one of the most bullish altcoins. It is already trading above the previous year’s high.</p> 
</blockquote> 
<ul class="Summary"> 
 <li>Ethereum is impacted by Bitcoin’s decline.</li> 
 <li>Spot ETF approval could boost Ethereum’s price.</li> 
 <li>Analysts see potential for a significant upward trend.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-sees-potential-growth-with-spot-etf-approval/" data-wpel-link="internal">Ethereum Sees Potential Growth with Spot ETF Approval</a></h5>

Ethereum Sees Potential Growth with Spot ETF Approval

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