Is It Too Late To Buy ETH? Ethereum Price Surges 5% As Coinbase Upbeat On ETH ETF Approval Odds And This Might Be The Next Crypto To Explode

The
Ethereum
price
rose
5%
in
the
last
24
hours


to
trade
at
$3,110

as
of
10:16
p.m.
EST
on
trading
volume
that
skyrocketed
25%
to
$13.6
billion.

This
development
follows
comments
from
Coinbase
analyst
David
Han,
who
suggested
that
the
market
might
be
underestimating
the
likelihood
that
a
spot
Ethereum
ETF
(exchange-traded
fund)
is
approved
by
the
US
Securities
and
Exchange
Commission
(SEC)

It
has
set
deadlines
of
May
23
and
24
to
decide
whether
to
approve
the
applications
for
spot
Ethereum
ETFs
submitted
by
VanEck
and
ArkInvest/21
Shares,
respectively.

“The
market
may
be
underestimating
the
timing
and
odds
of
a
potential
approval,
which
leaves
room
for
surprises
to
the
upside,”
Han

said
in
a
May
15
note.
”There
is
room
for
surprise
to
the
upside
on
this
decision.”

While
markets
have
all
but
ruled
out
the
possibility
of
ETH
ETF
approvals
this
month,
Han
said
the
issue
is
only
a
matter
of
”when,
not
if.”

A
US
Department
of
Justice
indictment
on
May
15
that
accused
two
individuals
of
wire
fraud
and
money
laundering
by
manipulating
the
Ethereum
blockchain
also
is 
 
positive
news
for
the
prospects
of
ETH
ETF
approvals. 

The
indictment
emphasized
the
importance
of
network
integrity,
stating
that
Ethereum
operates
without
a
central
authority
or
trusted
intermediary,
reaffirming
the
decentralized
principles
of
the
blockchain
and
making
it
less
likely
that
the
SEC
can
classify
ETH
as
a
security
that
is
under
its
jurisdiction.

The
Emperor
has
no
clothes.

The
SEC
is
believed
to
be
taking
the
position
that
ETH
is
a
security.

Meanwhile,
federal
prosecutors
at
SDNY,
who
are
representing
the
“United
States,”
have
just
alleged
that
Ethereum
is
“a
decentralized
blockchain”
with
“No
central
actor”
who
“runs…

https://t.co/isIP4sV43I

pic.twitter.com/pe8BdfBtut

—
orlando.btc
(@Orlando_btc)

May
16,
2024

Ethereum
Price
Set
To
Soar
Over
The
Falling
Wedge
Pattern

The
Ethereum
price
has
been
on
an
upward
trend
this
year,
rising
to
a
yearly
high
of
$4,116
in
March,
data
from


GeckoTerminal

shows.
However,
ETH
took
a
downturn
thereafter,
trading
down
within
a
falling
wedge
pattern.

ETH
has
found
support
around
$2,850,
which
the
bulls
are
using
to
push
the
price
above
to
trade
within
the
upper
boundary
of
the
wedge.

The
ETH
price
is
trading
above
the
200-day
Simple
Moving
Average
(SMA),
a
confirmation
of
the
bullish
rally
to
the
upside.
If
the
bullish
momentum
sustains,
ETH
could
soar,
overcoming
the
50-day
SMA
at
3,175,
a
signal
of
an
upward
breakout.

The
reading
on
the
Relative
Strength
Index
(RSI)
shows
that
buyers
have
an
upper
hand.
The
RSI
is
rebounding
from
the
oversold
levels
to
over
the
50-midline
level,
currently
at
52
as
it
heads
up.

Moreover,
the
Moving
Average
Convergence
Divergence
(MACD)
is
also
bullish.
The
MACD
line
(blue)
crosses
above
the
signal
line
(orange),
forming
a
bullish
crossover.

The
green
bars
on
the
histogram
also
extend
above
the
neutral
line.
This
shows
that
ETH
is
currently
building
up
toward
a
positive
momentum
to
the
upside.

Ethereum
Price
Prediction

Long-term
analysis
indicates
that
Ethereum
(ETH)
is
bullish,
with
the
goal
of
breaking
above
the
falling
wedge
pattern.

If
the
bulls
propel
the
price
to
the
upside,
ETH
would
overcome
the
$3,175
resistance,
which
coincides
with
the
50-day
SMA.
Here,
the
bull
will
target
$4,000
in
the
long
term.

However,
if
the
bears
take
charge
of
the
price
at
this
level,
ETH
could
undergo
a
price
retrace
back
to
the
$2,735
support
zone,
which
coincides
with
the
200-day
SMA.

As
the
ETH
price
gears
up
for
another
rally,
investors
are
piling
into
the
Mega
Dice
presale,
which
is
the
first
GambleFi
project
on
Solana.

The
presale’s
success
is
a
key
reason
why
99Bitcoins,
a
prominent
crypto
YouTube
channel
with
over
700,000
subscribers,
believes
that
$DICE
has
the
potential
to
soar
100X
after
its
launch.

Hot
New
Solana
GameFi
Token
Mega
Dice
Blasts
Past
$1.1
Million
In
Crypto
ICO

The
trending
new
Solana
GameFi
token


Mega
Dice
(DICE)

has
smashed
through
the
$1.1
million
milestone
in
its
ongoing
presale.

The
#1
GameFi
token
has
arrived
on

#SOL
????

Join
the

$DICE
presale
and
be
part
of
the
next
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gaming
token
–
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already
raised!
????

Presale
link:

https://t.co/E5WFsXQhfQ
????

Why
should
you
consider
joining
the

$DICE
presale?
????

pic.twitter.com/nTtNHgrqDC

—
Mega
Dice
Casino
(@megadice)

April
30,
2024

The
Mega
Dice
platform
is
one
of
the
fastest-growing
crypto
casinos,
with
10,000
active
players
wagering
more
than
$50
million
every
month.
It
also
offers
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4,000
games
and
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sportsbook
that
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wide
variety
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options
for
users.

Get
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pic.twitter.com/jWUCnx1mNc

—
Mega
Dice
Casino
(@megadice)

May
10,
2024

It
aims
to
take
on
casino
giant
Rollbit
Coin
and
to
emulate
the
success
of
earlier
launches
like
T.G.
Casino,
which
soared
4x
after
listing. 

DICE
also
distributes
a
share
of
profits
to
its
users
on
a
daily
basis
through
its
novel
staking
system.

If
you’d
like
to
join
the
presale,


you
can
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$DICE
on
the
official
website
here

for
$0.069
per
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ETH,
or
SOL.
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