JPMorgan expects new spot Ethereum ETFs to attract $1bn-3bn of net inflows for the rest of 2024 By Investing.com
- SEC Approval of Ethereum ETFs: Recent SEC approval of spot Ethereum exchange-traded funds (ETFs) boosted crypto prices.
- JPMorgan Analysis: JPMorgan notes the closing gap in price to Net Asset Value for Grayscale Ethereum Trust (ETHE) but expects fluctuations if the launch of spot Ethereum ETFs faces delays.
- SEC Review Status: While 19b-4 forms have been approved, S-1 filings for Ethereum ETFs are still under review by the SEC.
- Ethereum as a Commodity: Approval of ETFs without staking features suggests the SEC may view Ethereum as a commodity without staking.
- Market Impact and Predictions: JPMorgan anticipates modest net inflows of $1 billion to $3 billion for spot Ethereum ETFs this year, with potential for higher inflows if staking is included in the future.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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