ETH has seen significant selling pressure in the past few weeks.selling pressure mounts as prospective spot ETH exchange-traded-fund issuers await comments from the Securities and Exchange Commission on the state of their S-1 filings, submitted on the 31st of May.
However, none of the eight prospective issuers whose applications were approved on the 23rd of May have received any feedback. For example, ETH’s Relative Strength Index was 45.40, while its Money Flow Index was 45.69. These indicators measure the momentum and strength of an asset’s price movements.
ETH’s dwindling Chaikin Money Flow confirmed this trend. As of this writing, the coin’s CMF was in a downtrend and below the zero line at -0.01.
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