Ethereum had another go at the $3,520 resistance as markets continue to warm up for an Ether spot ETF. What will ETH do next?
was trading at around $3,448 on the 2nd of July, barely unchanged in the last few hours but in conformance with the
In the meantime, ETH bulls targeted fresh heights above $3,450 and were betting on upside potential from the hype around Ether spot exchange-traded funds .Bullish speculators suffered mild losses on the 1st of July after Ethereum failed to sustain momentum above $3,520. ETH attempted to break out from the descending channel on the 4-hour timeframe chart overnight on the day, but as of press time, has been unable to cement the move.Markedly, the latest advance toward $3,500 will not amount to triumph for bulls if ETH is unable to sail above the $3,520 — $3,550 resistance zone.In its digital asset flows report released on Monday, CoinShares observed that Ethereum investment products posted outflows of $60.7 million last week.
The report further highlighted that Ethereum was the worst-performing crypto asset in 2024, based on net flows, with—$37 million and—$25 million MTD and YTD flows, respectively.has been nigh this summer after the Securities and Exchange Commission approved 19b-4 filings of eight prospective issuers on the 23rd of May.in the approval process has been laid at the door of the U.S. securities regulator.
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