Crypto Express

06/12 01:22

ETH Bullish setup strengthens

Ethereum’s technical indicators are aligning for a potential breakout. The RSI stood at 64.06 at press time  — nearing the overbought zone — showing growing buying pressure.

Meanwhile, the MACD flipped bullish, with the signal line poised to cross above, hinting at sustained upward momentum.

This comes after ETH’s significant surge post the Pectra upgrade on the 7th of May, which reignited investor confidence in Ethereum’s scalability and efficiency.

Now, markets are abuzz with speculation around the approval of spot Ether ETFs that include staking — a potential game-changer.

With filings like that of REX Shares leveraging regulatory workarounds, analysts believe the launch could happen within weeks, adding another strong tailwind to ETH’s rally setup.

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