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ETH in the Green Zone Headed into the Spot ETH ETF Decision

Written By: ChartChamp

May 20, 2024

This is an important week for Ethereum because there are spot Ethereum ETF decisions on May 23 and 24. Currently there is a low probability of the Ethereum ETF getting approved, but I think it is possible for a big surprise by approving the ETH ETFs. ETH has been struggling to climb above the green zone since April 13. The price is currently in the green zone as we approach the spot ETH ETF decision. I have the orange trendline as a key resistance target to monitor for a breakout around $3,150.

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