CoinWorld report: 2024 may be of significant importance to the cryptocurrency market, with the potential for price and investment confidence to recover. With the success of Bitcoin ETF, expectations for Ethereum ETF are also increasing. However, despite the high optimism, there are still some factors worth noting. Craig Salm, Chief Legal Officer of Grayscale, believes that the SEC has sufficient reasons to approve a spot Ethereum ETF, but integrating equity voting into the product may pose challenges for applicants. Bloomberg analyst Eric Balchunas points out that Ethereum ETF faces many difficulties. Salm also stated that the recently approved Ethereum futures ETF is considered a commodity futures, which may pave the way for a spot Ethereum ETF. Industry experts such as Paul Grewal from Coinbase and former CFTC commissioner Brian Quintenz hold similar views. Therefore, before the SEC approves a spot Ethereum ETF, people are looking forward to the decision deadline of well-known applicants including BlackRock, VanEck, and Fidelity.

Market Analysis:

BTC: On the 4-hour chart, the price continues to stay near the upper Bollinger Band, showing a strong trend, but the market indicates overbought conditions, still requiring caution against the risk of a market pullback.

On the daily chart, the price continues to stay above the moving average support, indicating a strong overall trend.

In summary, the support level is at 70900, and the resistance level is at 71000.

ETH: On the 4-hour chart, the price remains near the upper Bollinger Band, showing a strong trend. Short-term market conditions indicate overbought status, requiring caution against the risk of a market retracement. The support level is at 3620, and the resistance level is at 3650.

LTC: The price continues to stay above the middle Bollinger Band, indicating a healthy trend. The support level is at 90, and the resistance level is at 93.

BCH: The price continues to stay above the middle Bollinger Band, indicating a healthy trend. The support level is at 470, and the resistance level is at 500.

BLZ: Recommended for layout by private group, already with over 20% profit. The price trend remains strong, and it is advisable to gradually reduce positions on rallies to take profits.

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