Bitcoin might get boring — But Ether may propel LINK, UNI, ARB prices higher

After the initial subdued reaction to the spot Ether ETF approval, Ether may move up, pulling LINK, UNI, and ARB higher, while Bitcoin may consolidate.on May 23 by the United States Securities and Exchange Commission failed to extend the rally in Ether, which rallied roughly 25% last week. A positive sign is that the regulatory approval did not start a sell-off, signaling that the ETH bulls are not rushing to the exit. This suggests that the traders seem to be in a wait-and-watch mode.

If bulls want to retain the advantage, they will have to start a bounce off the moving averages and drive the price above $70,000. If they do that, the pair could rise to $72,000 and later to $73,777.) soared above $3,730 on May 21, and the bulls have maintained the price above the breakout level since then. This shows that the bulls are trying to flip the $3,730 level into support.

Contrary to this assumption, if the price turns down and sustains below $17.32, it will indicate that the markets have rejected the breakout. The pair may slump to the 20-day EMA and then to the 50-day SMA .The bulls are struggling to maintain the price above the breakout level of $17.32, suggesting that the bears are active at higher levels. The price has reached the moving averages on the 4-hour chart, which is an important level to keep an eye on.

Conversely, if the price turns down and breaks below the 20-EMA, it will signal that the bulls are losing their grip. The pair may then collapse to the 50-SMA.Arbitrum has been attempting to break above the overhead resistance of $1.27 for the past few days, but the bears have held their ground.However, a minor positive for the bulls is that they have not allowed the price to dip below the 20-day EMA . That increases the possibility of a break above the resistance.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ether Rally Cools Following U.S. Ether ETF Listing ApprovalShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Source: CoinDesk - 🏆 291. / 63 Read more »

Ether extends its rally following 20% surge on renewed ether ETF optimismCryptocurrencies rallied on Monday night amid a late surge in optimism around SEC decisions on spot ether ETF applications, the first of which is due this week.
Source: NBCLA - 🏆 319. / 59 Read more »

Ether extends its rally following 20% surge on renewed ether ETF optimismCryptocurrencies rallied on Monday night amid a late surge in optimism around SEC decisions on spot ether ETF applications, the first of which is due this week.
Source: CNBC - 🏆 12. / 72 Read more »

Ethereum and Bitcoin Correlation: Will Ether Price Pick Up Pace?ETH ETFs approval might fuel the long-awaited Ethereum price surge
Source: Utoday_en - 🏆 295. / 63 Read more »

Ethereum ETF decision due in hours as BTC price gets $80K May targetBitcoin and Ethereum share bullish price targets as Ether ETF decision day arrives.
Source: Cointelegraph - 🏆 562. / 51 Read more »