Ethereum Price Prediction As Joseph Lubin Says SEC Has Stealth-Classified ETH As A Security And This Green Transport Crypto Offers An 85% Staking Yield

The
Ethereum
price
is
up
almost
3%
in
the
past
24
hours
to
trade
for
$3,029
as
of
07:03
a.m.
EST
on
trading
volume
that
fell
3%.

Despite
the
uptrend,
the
Ether
ETF
(exchange-traded
fund)
narrative
continues
to
be
a
drag
on
the
Ethereum
price.

Recent
reports
revealed
that
the
US
Securities
and
Exchange
Commission
(SEC)
had
put
off
an
application
by
Invesco
to
July.
In
the
latest
on
the
subject,
Ethereum
co-founder
Joseph
Lubin
says
the
SEC
has
stealth-classified
ETH
as
a
security,
which
would
mean
the
odds
for
regulatory
approval
for
ETH
ETFs
are
close
to
zero.

????
Joseph
Lubin
believes
the
SEC
has
reclassified
ETH
as
a
security

Ethereum
co-founder
and
head
of
Consensys,
Joseph
Lubin,
believes
that
the
Securities
and
Exchange
Commission
(SEC)
has
reclassified
ETH
as
a
security.https://t.co/FBC3knLsVa

pic.twitter.com/G36Ly2DhmK

—
Gutsul
Crypto
News
(@GutsulCrypto)

May
9,
2024

Joseph
Lubin
Says
The
SEC
Has
Reclassified
ETH
As
A
Security

“The
SEC
appears
to
have
reclassified
Ether
as
a
security
without
telling
anybody
that
that’s
the
case,”
Lubin
said
at
an
FT
Live
Crypto
and
Digital
Asset
summit
in
London.

Regarding
the
possibility
that
spot
Ether
ETF
applications
are
approved
by
the
SEC,
Lubin
added
that
the
regulator
and
the
traditional
financial
sector
are
concerned
about
too
much
capital
flowing
into
the
cryptocurrency
ecosystem.

Ethereum
Price
Prediction

The
Ethereum
price
is
trading
with
a
bullish
bias,
consolidating
along
an
ascending
trendline
that
has
continued
to
provide
support.
From
a
big-picture
perspective,
however,
the
Proof-of-Stake
(PoS)
token
is
consolidating
within
a
falling
wedge
pattern.
This
is
a
bullish
reversal
pattern,
which
would
be
confirmed
upon
a
successful
breakout.

For
the
26%
target
objective
of
the
falling
wedge
to
be
realized,
the
bulls
must
haul
ETH
past
the
resistance
due
to
the
Smooth
Moving
Average
(SMMA)
at
$3,067.
A
decisive
candlestick
close
above
the
next
supplier
congestion
level
at
$3,212
would
open
the
path
for
more
gains.
A
stable
close
above
this
level
The
Relative
Strength
Index
(RSI)
has
recorded
higher
lows,
indicating
growing
bullish
sentiment.

If
the
Ethereum
price
realizes
the
26%
growth
potential,
the
profit
target
would
be
$4,083,
levels
last
tested
on
March
13.

ETH/USDT
1-day
chart

On
the
other
hand,
if
the
bears
recover
the
market,
the
Ethereum
price
could
drop
below
the
ascending
trendline.
For
the
bullish
thesis
to
be
invalidated,
however,
the
bears
must
manage
a
candlestick
close
below
$2,900
in
the
one-day
timeframe.

Meanwhile,
investors
looking
to
diversify
their
portfolios
might
want
to
consider
green
transport
presale
eTukTuk,
which
is
offering
a
staking
yield
of
86%.
According
to
Crypto
YouTuber
Franklin
Emmanuel,
this
staking
function
stands
among
multiple
opportunities
for
passive
income
offered
by
the
project.

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May
7,
2024

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May
6,
2024

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—
eTukTuk
(@eTukTukio)

May
3,
2024

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????

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October
10,
2023

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