Ethereum

Bitcoin

when

<ul>
 <li><strong>Ethereum surged 6.19% to $3,583 after the SEC closed its investigation into ETH.</strong></li>
 <li><strong>The market reacted positively, showing strong bullish sentiment for ETH and altcoins.</strong></li>
</ul>
<p>The global cryptocurrency markets saw a slight recovery today as Ethereum (ETH) spiked over 6% to above $3,500 following news of the U.S. Securities and Exchange Commission (SEC) closing its investigation into ETH sales. This bullish trend extended across Ethereum and other altcoins.</p>
<p>Consensys Software, an Ethereum developer, <a href="https://thenewscrypto.com/is-the-war-between-the-sec-and-ethereum-nearing-an-end/" target="_blank" rel="noopener noreferrer nofollow">confirmed</a> in a blog post that the SEC’s Enforcement Division concluded its probe into Ethereum’s native token, Ether, indicating it will not pursue charges related to ETH sales as securities transactions.&nbsp;</p>
<h3 class="wp-block-heading" id="h-can-ethereum-recover-to-4k">Can Ethereum Recover to $4K?</h3>
<p>Ethereum is trapped in a <a href="https://thenewscrypto.com/ethereum-hit-one-month-low-amidst-19m-whale-deposit/" target="_blank" rel="noopener noreferrer nofollow">bearish trend</a> despite a huge rally in the crypto market when Bitcoin (BTC) hit a new all-time high. However, today ETH displayed a notable 6.19% jump from $3,374 to $3,583 in response to the news. At the time of reporting, ETH is trading at $3,534 with a market capitalization of $432 billion.</p>
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<p>The 24-hour technical analysis indicates that Ethereum’s recent price action has formed a bullish pattern, suggesting the potential for a reversal in its market trajectory. The current crucial level to watch is $3,650, with a breakout above this point potentially pushing the price towards resistance levels at $3,800 and even as high as $4,200. That will set a path towards an all-time high above $4,900.</p>
<p>Looking ahead, market analysts are optimistic about Ethereum’s prospects, buoyed by strong technical indicators such as the 9-day exponential moving average (EMA) currently at $3,474 and a daily relative strength index (RSI) nearing neutral conditions at 51.&nbsp;</p>
<p>However, caution remains there—a failure to <a href="https://thenewscrypto.com/ethereum-teeters-on-the-edge-of-breaking-crucial-support-zone/" target="_blank" rel="noopener noreferrer nofollow">maintain support</a> above $3,300 could lead to a retest of critical support levels at $3,150. A level below this would trigger further downside pressure and a drop below $3,000.</p>

Ethereum Surges Past $3.5K as SEC Closes Investigation on ETH Sales

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