Ethereum rampages toward $4,000 mark

Ethereum’s price tested the 3,800$ mark and then bullishly rebounded, continuing the anticipated short- and intraday-term bullish trend. The next primary stations are situated at $3900 and $4097 respectively. The cryptocurrency appears to settle not far from the $4,000 resistance level. ETH has been able to reposition itself above its 50-day moving average because of these recent bullish swings, which might assuage investors’ concerns about the direction of the cryptocurrency.

The super altcoin didn’t rise until the week before the last deadline for VanEck, 21Shares, and ARK to approve Ethereum spot ETFs. Luckily for Ethereum, on Monday, May 20, expectations turned more hopeful, which helped the cryptocurrency to rise by more than 20%. Ethereum thus overcomes the $3,800 resistance mark.

The oscillators and the price of Ethereum itself show that there has been a significant comeback on the momentum side of the coin. Thus, affirms all of these factors will support the movement’s continued growth.
We might expect a breakthrough above $3,850 if the price of Ethereum stays over $3,500 in the coming days. $4,000 would be the next obstacle. There could be a new high at $4,400 if the bullish trend keeps up. Ethereum might likely breach its all-time high of almost $4,800 if such momentum is maintained
Early-stage applications to introduce spot Ether exchange-traded funds (ETFs) in the US are “as good as done,” according to Consensys CEO Joseph Lubin.
Lubin stated that the U.S. Securities and Exchange Commission (SEC) will approve some 19b-4 petitions submitted by companies like BlackRock. But releasing them to the general public might take longer. Lubin declared, “I think that’s as good as done—these 19-b4s from the exchanges.””However, the S1s—, these new ETFs going public—might take some time. It is unclear if it will. This is probably now a very significant political problem.