Ethereum price in ‘bull market’ after spot ETH ETF approvals greenlight rally toward $4K
With the spot ETH ETFs approved, traders are confident that Ethereum price is ready to rally well above $4,000.
Traders continue to push Ether (ETH) price closer to $4,000 on May 27, with the altcoin registering a 3.5% gain for the day.
Data from Cointelegraph Markets Pro and TradingView shows strong performance from Ether which rose from a low of $3,048 on May 20, climbing 27% to reach a 10-week high of $3,964 on May 27.
Ether’s performance over the last seven days has largely been driven by the markets’ anticipation that the spot Ethereum exchange-traded funds (ETFs) in the United States would be approved. Even though ETH displayed a lackluster performance after the approval, the move toward $4,000 is viewed as significant.
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Author: Nancy Lubale
