Ethereum Price Prediction: SEC Delays Decision On The Grayscale Ethereum ETF As Traders Flock To This Electric Vehicle Crypto For Potential Exponential Gains

The Ethereum price rose slightly over the past 24 hours to trade at $2,220.66 as of 12:30 a.m. EST.

SEC Delays Decision On Grayscale’s ETH ETF Again 

But the U.S. Securities and Exchange Commission (SEC) has once again delayed its decision timeline for a proposal from Grayscale Investments for a spot Ethereum ETF (exchange-traded fund). This is after the SEC first delayed its decision on the proposal on Dec. 5. 

The regulator questioned whether Ethereum’s proof of stake mechanism and “concentration of control or influence by a few individuals or entities” could leave the fund susceptible to fraud and manipulation. 

The Ethereum Price Prints Another Higher Low

Daily chart for ETH/USDT (Source: TradingView)

The Ethereum price dropped below the $2,295 support level in the past couple of days after it dropped out of a descending price channel. Bulls were able to prevent ETH from falling to the $2,130 mark, resulting in a new higher low. This is a continuation of a medium-term positive trend line that has emerged on the altcoin leader’s charts.

The Ethereum price may enter into an upward move in the coming few days as it rebounds from the positive trend line. Should this bullish thesis play out, ETH may soon reclaim the $2,295 support.

Continued buy pressure may then elevate the altcoin leader’s value to above the negative price channel. This will give the Ethereum price some room to breathe, which could allow it to flip the resistance level at $2,440 into support before potentially rising to as high as $2,685. This bullish thesis may be invalidated if ETH falls below the positive trend line.

The Ethereum Price May Start To Climb Soon

Technical indicators on ETH’s daily chart show the sell pressure that led to the Ethereum price’s strong drop is cooling down. The Moving Average Convergence Divergence (MACD) suggests the altcoin’s bearish trend has come to an end, as the gradient of the MACD Histogram has leveled off. Buyers also seem to be attempting to make a comeback. 

This is indicated by the narrowing gap between the Relative Strength Index (RSI) line and the RSI Simple Moving Average (SMA) line. ETH’s upside potential is also greater than its downside potential, given the RSI is positioned in oversold territory. Buyers may identify these technical flags as a long entry, leading to the Ethereum price climbing in upcoming days.

While the Ethereum price looks to climb soon, traders are flocking to the eTukTuk presale due to its potential to return 10x profits as it tackles global carbon emissions head on.

Propelling The Global Transition To Electric Vehicles

eTukTuk introduces environmentally friendly transportation options through the combination of blockchain and AI technology, with the aim to reduce global carbon emissions. At the heart of the ecosystem is the project’s eTukTuk electric vehicle (EV).

This specific mode of transportation was chosen due to the popularity of its fossil fuel-powered counterpart in developing countries such as Sri Lanka and India. 

eTukTuk’s strategic decision to appeal to residents in third-world countries has opened up access to a vast user base. To soften the blow to nations which may not have first-world budgets, each of the project’s eTukTuk EVs can be produced locally using less than 200 parts.

This dramatically reduces the adoption cost for nations looking to roll out the mini taxi.

Powering Transportation Across The Globe

"The three-wheeler EV design from eTukTuk is ushering in a new EV sector that experts believe will grow to become the largest by 2030." – @cryptonews

Read more here: https://t.co/riLOMRjwgL

— eTukTuk (@eTukTukio) January 3, 2024

eTukTuk is powering the future of transportation and eradicating CO2-related health conditions through its innovative electric vehicle charging infrastructure (EVSE). Its EVs will then enable the seamless transition to a greener global transportation industry.

This will not only reduce the number of internal combustion engines, which include the 270 million TukTuks world wide, but will also provide a cheaper solution to TukTuk drivers who are at the mercy of increasing combustion fuel prices. 

eTukTuk’s presale has already raised more than $500,000 and is gaining momentum. The project’s native token is selling for $0.026 and can be purchased on the project’s website using either Binance Coin (BNB), Tether (USDT) or bank card

Investors may want to hurry, as the project’s appeal to third-world nations and its innovative energy infrastructure make it a very promising project with 10x potential for early stage investors. And there’s less than five days to a price hike.

Visit and buy eTukTuk here.

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