$ETH
Ethereum (ETH) is currently trading at $3,329.69, showing a 7.31% increase. The cryptocurrency has seen significant growth, driven by institutional adoption and regulatory clarity .
*Key Developments:*
- *Institutional Adoption*: BitMine's strategic investment in Ethereum has boosted institutional confidence, with the company staking 154,208 ETH ($480M).
- *Regulatory Clarity*: The Senate's delayed crypto market structure bill includes an "ETF safe harbor" clause, protecting tokens in regulated products like ETH ETFs.
- *Technical Analysis*: Ethereum has broken out of a five-year descending wedge pattern, indicating strong bullish potential.
*Price Movement:*
- ETH is trading above its 50-day and 200-day EMAs, indicating a bullish trend.
- The Relative Strength Index (RSI) is at 54.3, suggesting neutral momentum.
📈 _Ethereum's price is expected to test $3,500 resistance, with potential upside if it sustains above