Ethereum, the leading platform for decentralized applications and smart contracts, is gaining attention today.
The SEC recently gave the green light for the launch of Ethereum exchange funds, leading to significant price volatility. The Ethereum ETFs may launch soon, potentially driving up the ETH price through wider adoption and increased investments.
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Ethereum is holding up stronger than most other altcoins this week. The positive news appears to be sending ETH higher while many altcoins are falling. Crypto Insiders analysts recently shared the following ETH analysis in the Discord group:
“Ethereum still looks strong despite the broader market correction in cryptoland. The ETH price recently hit the blue support zone around $3,400 and, as we expected, has risen again from here.
While most other altcoins have been diluting lately and showing a lack of momentum, ETH is holding strong. That probably has to do with the approval of the ETFs.
We therefore expect a trend to continue towards the north. The next target for ETH is the March peak just above $4,000. If ETH breaks through this, the path to the all-time high may be open. In Discord, we continue to closely monitor the course and keep our strategy up to date for our members.”
Date of analysis: June 17. Trading view link:
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