Analysts at QCP Capital, a prominent crypto trading firm, forecast that the unexpected approval of spot Ethereum ETFs could drive ETH's price to $5,000 by the end of the year.
Should the U.S. Securities and Exchange Commission (SEC) greenlight spot Ethereum exchange-traded funds (ETFs), Ethereum's native cryptocurrency, ETH, is poised to reach a short-term target of $4,000. In a May 21 analytical update, analysts from the Singapore-based firm emphasized that the second-largest cryptocurrency by market value might soar to $5,000 if the SEC delivers an unexpected approval. Conversely, a rejection could precipitate a sharp decline back to $3,000, where ETH has repeatedly found strong support around the $2,900 level.
"This uncertainty has resulted in higher volatility, but the better trade might be spot-futures basis which is now
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First found on: Crypto news from Coinatory
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