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Delay in the listing of Ethereum ETF - The issuer of Ethereum ETF received a returned S-1 form from the SEC, along with comments requesting resubmission by July 8th, indicating a possible delay in the launch of Ethereum ETF. According to The Block, the SEC made a few comments when returning the form, requiring the issuer to address and resubmit within the specified time frame. Although this does not necessarily indicate the final outcome of the filing, it is clear that the SEC is scrutinizing Ethereum ETF more closely. Nate Geraci, President of ETF Store, stated that despite the minor revisions in the previous S-1, the SEC's delay suggests that the launch of spot Ethereum ETF may be postponed until at least the second half of July. Although the exact timeline remains uncertain, the market is still eagerly anticipating it. The road to the launch of Ethereum ETF seems to be bumpy, but it also reflects the SEC's cautious attitude towards the cryptocurrency market. For investors, this is both a challenge and an opportunity. What are your thoughts on the future of Ethereum ETF? Feel free to leave a comment in the comment section!
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Bitcoin recently retraced to the 60000 level and rebounded strongly. Currently, the price has risen in the past two days, and from a technical perspective, this trend is a rebound and recovery after the fall. Bitcoin's overall decline in June exceeded 10,000 points, so the short-term recovery strength is relatively strong. From the perspective of the daily chart, the price encountered resistance and pulled back at the 64000 level, which is the middle band of the daily Bollinger bands. If the short-term rebound fails to break through and stabilize above the 64000 level, the downward trend will continue. Therefore, do not mistake the current recovery as a reversal signal. Looking at the hourly chart, the price encountered resistance and pulled back around the 63800 level. In the short term, the price keeps testing lower levels, and currently, it is trading around 62900. The bearish trend is dominant, and the key focus is on the 64000 middle band resistance. If there is no breakthrough and stabilization, the price is expected to pull back again. Currently, there is no upward breakthrough, so our strategy remains short on the rebound. If there is a breakthrough and stabilization in the resistance area, then the short-term strategy will be reversed, and the support level below is around 62200-62500.
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Ethereum welcomed a good start in July, continuing the oscillating upward trend from Sunday and starting a rebound. The highest point reached 3524 before falling back under pressure, with an overnight low retracement to around 3423. It is currently running near 3450. From the current trend, the strong resistance at the 3520 level above, combined with the unclear expectation of ETF approval, has led to relatively weak bullish strength during the trading session. Attention should be paid to the breakthrough of this strong pressure level, and if the short-term rebound does not stabilize the downward trend, it will still exist. On the daily chart of Ethereum, the KDJ and MACD indicators show a rising technical signal, and the overall downward trend of BOLL also weakens, as the amplitude of the lower track is not large, which has led to the rebound after touching the bottom support. The current coin price is in a fierce battle to break through the mid-track during the rapid decline, and the short-term support below is focused on the 3380-3350 range!
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