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Ethereum Retraces Back to Pre-ETF Levels

Ethereum had a nice rally after spot ETF approvals, but there has been a lot of delays with actually listing these ETFs so that they can be traded on the market. Ethereum has lost all of its gains through this multi week downtrend, and has formed a strong rebound off this red support line around $2,862.93. We are seeing a strong rebound forming with a long wick back up. After several weeks of downside, I think we can now have many weeks of upside. The listing of the Ethereum ETFs will be an important catalyst for helping Ethereum rally.

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