Ethereum Price Prediction: Gary Gensler Expects Spot Ethereum ETF Approvals By Summer’s End As This Casino Token Races Towards $2 Million

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The
Ethereum
price
is
up
a
fraction
in
the
past
24
hours
to
trade
for
$3,512
as
of
00:45
a.m.
EST
on
trading
volume
that
dipped
21%.

The
show
of
strength
followed
comments
by
Securities
and
Exchange
Commission
(SEC)
Chair
Gary
Gensler
that
spot
Ethereum
ETFs
(exchange-traded
funds)
will
likely
receive
regulatory
approval
“over
the
course
of
the
summer.”

The
SEC
approved
the
issuers’
19b-4
filings
on
May
23.
But
before
the
ETH
spot
ETFs
can
hit
the
market,
the
regulator
must
also
approve
their
S-1s.

Meanwhile,
ProShares
Trust
III
filed
its
Ethereum
Spot
ETF
S-1
application
with
the
SEC
on
Tuesday.

The
prospect
of
the
ETH
ETFs
hitting
the
market
before
October
is
good
news
for
the
crypto
industry,
signifying
another
key
regulatory
breakthrough.
VanEck
made
its
first
spot
ETH
ETF
in
May
2021.

“It
has
taken
regulators
3
years
and
*counting*
to
decide
whether
you
can
buy
exact
same
thing
in
regulated
ETF
wrapper
that
they’ve
allowed
grandma
to
purchase
on
*publicly-traded*
COIN
&
HOOD
during
same
time,”
said
Nate
Geraci,
president
of
ETFStore.

Optimism
Abounds
In
ETH
Market,
Is
The
Ethereum
Price
Primed
For
Rally?

Optimists
remain
bullish,
however,
with
the
likes
of
Framework
Ventures
co-founder
Vance
Spencer,
saying
Ethereum
is
a
“tech-style
growth
play”
that
will
become
the
app
store
of
finance.

“ETH
is
at
the
forefront
of
the
tokenization
movement
that’s
really
going
to
define
the
next
few
decades
of
traditional
finance,”
Spencer
said,
adding,
“People
are
going
to
be
really
surprised
at
the
uniqueness
of
the
scale
of
business
Ethereum
is
going
to
generate
from
the
tokenization
wave.”

Ethereum
Price
Prediction

The
Ethereum
price
could
recover
after
a
10%
crash
beginning
June
6.
ETH
bulls
are
defending
against
further
downside,
seen
with
the
Relative
Strength
Index
(RSI),
which
is
defending
against
further
downside.
If
this
momentum
indicator
is
able
to
restore
above
the
mean
level
of
50,
a
bullish
wave
could
ensue.

This
could
see
the
50%
Fibonacci
placeholder
hold
as
a
support
level
at
$3,451,
with
the
potential
for
an
extended
move
north.
A
candlestick
close
above
the
61.8%
Fibonacci
retracement
level,
which
is
the
most
significant
retracement
level,
would
confirm
a
further
move
north.
Traders
looking
to
take
long
positions
on
ETH
should
consider
waiting
for
a
stable
candlestick
close
above
the
aforementioned
level
in
the
one-day
timeframe.

Once
this
happens,
the
Ethereum
price
could
reclaim
the
78.6%
Fibonacci
retracement
level
of
$3,808.
In
a
highly
bullish
case,
ETH
market
value
could
extend
to
the
$4,076
threshold,
levels
last
tested
in
March.

Ethereum

Ethereum


GeckoTerminal:
ETH/USD
1-day
chart

Conversely,
with
the
lower
highs
on
the
RSI
and
its
position
below
the
50
mean
level,
the
bears
could
have
their
way.
The
position
of
the
Moving
Average
Convergence
Divergence
(MACD)
below
the
signal
line
(orange
band)
reinforces
the
bullish
outlook.

If
the
50%
Fibonacci
placeholder
of
$3,451
breaks,
the
downtrend
could
extrapolate.
A
candlestick
close
below
the
38.2%
Fibonacci
retracement
level
of
$3,304
would
invalidate
the
bullish
thesis.

Meanwhile,
investors
are
piling
into
DICE,
a
new
Solana
GameFi
coin
that’s
racing
towards
$2
million
in
funds
raised
in
its
presale.
According
to
Crypto
analyst
and
YouTuber
99Bitcoins,
this
presale
gem
could
explode
100X
at
launch.

Promising
Alternative
To
Ethereum

DICE
is
the
powering
token
for
the

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Dice
ecosystem,
a
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online
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rewards
players
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The
platform
allows
users
to
play
games,
bet
on
sports,
and
earn
rewards
using
the
native
token,
$DICE.

The
Mega
Dice
platform
has
been
a
sensation
since
its
launch
last
year
and
is
one
of
the
most
popular
crypto-oriented
online
casino
and
betting
platforms.
With
the
launch
of
the
new
crypto
ICO,
the
project
is
set
to
extend
its
offerings.

The
project
is
the
first
GameFi
project
on
the
Solana
blockchain,
and
its
aim
is
to
challenge
the
casino
sector
titan
Rollbit
Coin.

The
platform
has
a
user
base
exceeding
50,000
and
more
than
10,000
active
players
who
wager
about
$50
million
every
month.
It
offers
over
4000
games
from
top
providers
and
over
50
sports
and
eSports.

DICE
holders
can
also
earn
through
the
platform’s

staking
option,
with
the
team
setting
aside
10%
of
its
total
420
million
token
supply
as
rewards.

$DICE
tokens
cost
$0.075
each
and
can
be
bought
with
BNB,
ETH,
or
SOL.
You
can
also
earn
10%
on
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made
by
investors
you
refer.


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Also
Read:

Mega
Dice
–
Newest
GambleFi
Token

Mega Dice

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  • Featured
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