{"id":308943,"date":"2024-05-24T18:31:40","date_gmt":"2024-05-24T13:01:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/as-the-ethereum-etf-rally-cools-can-eth-still-break-4500-before-june-crypto-news\/"},"modified":"2024-05-24T18:33:50","modified_gmt":"2024-05-24T13:03:50","slug":"as-the-ethereum-etf-rally-cools-can-eth-still-break-4500-before-june-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/as-the-ethereum-etf-rally-cools-can-eth-still-break-4500-before-june-crypto-news\/","title":{"rendered":"As the Ethereum ETF Rally Cools, Can ETH Still Break $4,500 Before June? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400\">Ethereum price analysis: On Monday, the crypto markets witnessed a renewed influx of volume as rumors of a spot <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/spot-ethereum-etf-top-5-reasons-why-sec-offered-regulatory-nod\/\">Ethereum ETF<\/a> approval hit the mainstream crypto news platforms. <\/span><span style=\"font-weight: 400\">Following the rumors of the approval, ETH surged 22%, topping at $3,947 before retracing back.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On May 24, 2024, the Securities and Exchanges Commission (SEC) approved eight-spot Ethereum ETFs in an omnibus order. <\/span><span style=\"font-weight: 400\">However, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price-predictions\/ethereum-eth-price-prediction\/\">Ethereum\u2019s<\/a> momentum has slowed significantly, even after the official <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/top-5-booming-crypto-to-buy-for-100x-potential-ethereum-etf-take-off\/\"><span style=\"font-weight: 400\">ETH ETF<\/span><\/a><span style=\"font-weight: 400\"> approval news.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><b>Ethereum Price Analysis: ETH Chart Remains Bullish Post Ethereum ETF Approval News<\/b><\/h2>\n<figure id=\"attachment_198583\" aria-describedby=\"caption-attachment-198583\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-198583\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1.jpeg\" alt=\"ETH price chart | TradingView\" width=\"1280\" height=\"565\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1.jpeg 1280w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1-300x132.jpeg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1-1224x540.jpeg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1-768x339.jpeg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1-150x66.jpeg 150w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\"\/><\/noscript><figcaption id=\"caption-attachment-198583\" class=\"wp-caption-text\">ETH price chart | TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The recent <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-end-of-correction-to-gain-regain-4000\/\"><span style=\"font-weight: 400\">Ethereum price<\/span><\/a><span style=\"font-weight: 400\"> surge and subsequent consolidation have led to a bullish flag. Bulls are expected to push the price even higher after this short resting phase.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Currently, ETH is trading at $3,705, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\">CoinMarketCap<\/a>. The price holds steady above the 50-day and 200-day simple moving averages (SMAs), reinforcing the bullish sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Key resistance levels to watch include $3,947, $4,067, and $4,405. Should the market get hit by bad news, ETH prices could tumble downward. Key support levels to keep under watch would be $2,676 and $2,338.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gabriel Shapiro, a crypto attorney, posted his insight into the weird case of Ethereum price action following the ETF approval.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400\">According to Shapiro, the ETH price is not rising because only the 19b-4s forms were approved and not the S-1s. The 19b-4s form focuses on rule changes proposed by self-regulatory organizations, while the S-1s is used for registering securities in preparation for an initial public offering (IPO).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This type of approval can be contested in the next 10 days and could result in revocation of the approval.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Attorney Shapiro weighs in that this move by the SEC was purely political and the crypto community should not expect an S-1s approval soon.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">alpha on why ETH isn&#8217;t mooning: <br \/>\u2013>only 19b-4s approved, not S-1s<br \/>\u2013>approval was by division of trading\/markets on &#8216;delegated authority&#8217;<br \/>\u2013>means a commissioner can challenge in next 10 days (also means they are trying to hide the vote b\/c it&#8217;s political)<\/p>\n<p>what&#8217;s really going\u2026<\/p>\n<p>\u2014 _gabrielShapir0 (@lex_node) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/lex_node\/status\/1793761121335218188?ref_src=twsrc%5Etfw\">May 23, 2024<\/a><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400\">This explains why the market sentiment around the ETF approval is not as explosive as it was for Bitcoin.<\/span><\/p>\n<h2><b>ETH Price Prediction<\/b><\/h2>\n<figure id=\"attachment_198584\" aria-describedby=\"caption-attachment-198584\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-198584\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum price chart | TradingView\" width=\"1280\" height=\"565\" data-lazy-srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56.jpeg 1280w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-300x132.jpeg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1224x540.jpeg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-768x339.jpeg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-150x66.jpeg 150w\" data-lazy-sizes=\"(max-width: 1280px) 100vw, 1280px\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56.jpeg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-198584\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56.jpeg\" alt=\"Ethereum price chart | TradingView\" width=\"1280\" height=\"565\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56.jpeg 1280w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-300x132.jpeg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-1224x540.jpeg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-768x339.jpeg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-24-at-14.42.56-150x66.jpeg 150w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\"\/><\/noscript><figcaption id=\"caption-attachment-198584\" class=\"wp-caption-text\">Ethereum ETH chart | TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The Ethereum price on the daily chart indicates a strong breakout from the previous falling wedge. While the momentum has tapered off, Ethereum fundamentals are still strong.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, in an inverse scenario, bears could retreat to $3,400 before moving higher toward ETH\u2019s previous all-time high price.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/ethereum-price-analysis-as-ethereum-etf-rally-cools-can-eth-still-break-4500-before-june\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/ethereum-price-analysis-as-ethereum-etf-rally-cools-can-eth-still-break-4500-before-june\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA198579\">\n<div class=\"authorBox\">\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/f550088f6c79ed5969887b8a5a6d972d?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/f550088f6c79ed5969887b8a5a6d972d?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f550088f6c79ed5969887b8a5a6d972d?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f550088f6c79ed5969887b8a5a6d972d?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD198579\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-important-highlights-from-the-recent-fed-meeting\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"5 Important Highlights from the Recent Fed Meeting\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Important Highlights from the Recent Fed Meeting <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/chatgpts-next-big-upgrade-what-you-need-to-know\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ChatGPT's Next Big Upgrade: What You Need to Know\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-reasons-behind-mega-banks-2024-ethereum-price-prediction\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"5 Reasons behind Mega Bank's 2024 Ethereum Price Prediction\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price analysis: On Monday, the crypto markets witnessed a renewed influx of volume as rumors of a spot Ethereum ETF approval hit the mainstream crypto news platforms. Following the rumors of the approval, ETH surged 22%, topping at $3,947 before retracing back. On May 24, 2024, the Securities and Exchanges Commission (SEC) approved eight-spot [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":287499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-308943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=308943"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308943\/revisions"}],"predecessor-version":[{"id":308944,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308943\/revisions\/308944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/287499"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=308943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=308943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=308943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}