ETH Mega long
Ethereum is awaiting the approval of the ETH ETF, which currently cannot happen due to the government shutdown. Once the government shutdown is over and normal practice resumes, as long as the ETH ETF gets approved then we should be Gucci.
My expectation is a revisit to the most recent low or potentially lower. My extended low targets would sit around 2300-2500 but initially I am not expecting much lower than 2900-2950. The 9H RSI has broken out of its support zone and is now retesting the bottom of that trendline, similarly the Daily is doing the same. This is the rejection we are looking for around 3400-3500, which will drive the price down.
If we get a scenario where BTC is not pumping as strongly then its possible people/business could transfer their BTC ETF holdings and swap them to ETH ETF holdings if the opinion is well BTC isnt pumping much or as stongly as ETH.
This idea is powered by the NakedNation community and BareNakedCrypto who you can find on socials and streams on Kick. Low key the goat!
This is not financial advice, I am not a financial advisor. It's just a bit of fun.
