Ethereum
Ethereum Price Prediction – Completed SEC Investigation Could Send Bull Market to $5.5K
ETH/USD daily price chart. Source: TradingView
If this happens, the ETH price target for August will appear to be around $5,500. Conversely, a break below the handle’s lower trendline will invalidate the cup and handle breakout scenario, pushing price towards its 200-day exponential moving average (200-day EMA; the wave blue) at around $3,040.
Nonetheless, Ethereum’s technical bullish trend is supported by ultra-bullish fundamentals, namely the SEC’s decision to end its investigation into Ethereum, which technically paves the way for approval of an exchange-traded fund. spot exchange in July, as Bloomberg analyst Eric Balchunas said. predicted.
Ethereum is not security: SEC admits defeat
SEC ends investigation into whether Ether is a security.
In a Post X of June 19, Consensys, developer of Ethereum, announced: “The Enforcement Division of the SEC has informed us that it is closing its investigation into Ethereum 2.0. » The ruling means the SEC will not charge that ETH sales are securities transactions, which Consensys called “a major victory for Ethereum developers, technology providers and industry participants.”