With the approval of the Bitcoin ETF already in place, the market is now eagerly awaiting the approval of an Ethereum ETF. In the spot market, attention has shifted towards Ethereum, with traders actively speculating on its price.
We can observe Ethereum (ETH) forming a double bottom on the H4 chart last week and initiating an upward movement. Subsequently, it directly encountered the daily resistance, leading the price to slide down to the H4 support. If at the H4 support, we can wait on the H1 chart for the formation of a double bottom or a chart pattern indicating a lower low, and then consider continuing with a long position.