Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»Is Ethereum ETH Price Ready for a 20% Soar? The tech says yes.
EXCHANGE NEWS

Is Ethereum ETH Price Ready for a 20% Soar? The tech says yes.

By Crypto FlexsApril 9, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Is Ethereum ETH Price Ready for a 20% Soar?  The tech says yes.
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum, the second-largest cryptocurrency by market capitalization, is showing signs of a potential rebound in the medium to long term. Recent data and key indicators from the futures market suggest that bullish sentiment surrounding ETH is on the rise.


TLDR

  • Ethereum’s futures open interest and positive funding ratio suggest a potential upside above $4,000 in the medium term.
  • Key indicators such as MACD and DMI confirm the rise in bullish sentiment in the ETH spot market.
  • Ethereum remains on the rise above $3,400 and could potentially reach $4,500 or even $5,000 in the coming weeks if the bull market remains active.
  • VanEck and CoinShares CEOs have expressed doubts about the SEC approving a spot Ethereum ETF by the end of 2024.
  • JPMorgan strategists believe the SEC will eventually approve a spot Ethereum ETF in May following a possible rejection proceeding.

According to a report by anonymous CryptoQuant analyst ShayanBTC, Ethereum futures open interest is increasing and funding ratios remain positive despite general market consolidation in March. A positive funding ratio indicates that more traders have long positions and expect the price of an asset to rise in the short to medium term.

The report also highlights a “corresponding surge in the funding rate indicator” as ETH attempts to regain the $4,000 price, suggesting that market participants have been aggressively executing long positions.

Ethereum futures open interest has increased 7% over the past seven days, reaching $15 billion, according to Coinglass data.

In addition to the futures market, key indicators from the Ethereum spot market also confirm the rise in bullish sentiment. The Moving Average Convergence Divergence (MACD) line has crossed the signal line for the first time since March 15, indicating strengthening upward momentum. Moreover, ETH’s Directional Movement Index (DMI) shows that the positive directional index has surpassed the negative one, confirming the change in sentiment from bearish to bullish.

Ethereum’s price action also suggests a potential upside, with the cryptocurrency holding gains above the $3,400 level. If the bulls remain active, ETH could reach $4,500 or even $5,000 in the coming weeks. However, immediate resistance is near $3,800, and a clear break above $4,080 could open the door for further upside.

While it paints an optimistic picture technically, there still remains uncertainty surrounding the approval of a spot Ethereum ETF by the U.S. Securities and Exchange Commission (SEC).

VanEck CEO Jan Van Eck and CoinShares CEO Jean-Marie Mognetti have expressed doubts about the SEC approving a spot Ethereum ETF by the end of 2024.

VanEck, who applied for a spot Ethereum ETF, believes there is a possibility of rejection once the SEC completes its review on May 23. Mognetti, on the other hand, does not believe any will be approved this year, citing skepticism about SEC approval of proof-of-stake protocols.

However, JP Morgan strategists led by Nikolaos Panigirtzoglou believe the SEC will eventually approve a spot Ethereum ETF, if not before May. They suggest that without approval in May, legal proceedings similar to Grayscale and Ripple’s legal battles could ensue, which could ultimately lead to the SEC’s approval of a spot Ethereum ETF.

Despite regulatory uncertainty, Ethereum’s on-chain indicators provide further evidence of a potential rebound. Nearly $1.2 billion of liquidity has left the spot market over the past month, suggesting a positive sign. If this supply shock persists, it could support further increases in the price of ETH.

While the approval of a spot Ethereum ETF remains uncertain, technical and on-chain indicators suggest that ETH may be poised for a significant rebound in the medium term.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Toncoin User Exposes 90% Price Drop as Fake News, FUD

September 4, 2024

UMA Price Prediction: UMA Soars 17% As Analysts Say This New GameFi Challenger Will Explode.

January 22, 2024

Injective (INJ) and SVM Sonic launch cross-chain AI hub

January 6, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.