๐ The worldโs second-largest cryptocurrency Ethereum surged past $3,700, trading at $3,713 with a market cap of $446 billion. The SEC delayed BlackRockโs spot Ethereum ETF proposal, seeking public feedback on concerns related to Ethereumโs proof of stake mechanism and fraud susceptibility.
๐ผ Similar delays occurred for Fidelityโs proposal, with a final deadline set for VanEckโs application on May 23. Opinions vary on spot ether ETF approval, with optimistic voices eyeing May for potential SEC approval, while skeptics remain cautious.
๐ Despite ETF uncertainties, Ethereum's price rally continues. The upcoming Ethereum Dencun upgrade is crucial. Ethereum surpassed $3,650, forming a bullish trend line, with resistance at $3,720 and $3,780.
๐ Further upside could see Ethereum targeting $3,920 and potentially $4,000, with a test of $4,200 possible.