The SEC approved options trading on spot Ethereum ETFs in the past week, boosting ETH’s mainstream adoption. Technical analysis suggests a potential 17% price surge.
U.S Securities and Exchange Commission has approved options trading for Ethereum ETFs in the past 5 days. This approval allows exchanges to list and facilitate trading options contracts on Ethereum exchange-traded funds(ETFs). Ethereum was hit hard by the tariff trade war, with its price dipping to a two-year low.
Following this development, Ethereum has gained investment appeal among large investors and has been recording heightened buying pressure. A recent observation by renowned analyst Ali Martinez reveals a potential 17% price surge in the next few days.
In the past week, the ETH price has been consolidating inside a symmetrical triangle pattern on the hourly chart. Per the analyst, the technical setup precedes a bullish rally, and Ethereum could surge 17% following a breakout above this triangle.
