Ethereum Poised for Rally if It Breaks Through $2,707 Resistance as SEC Delays BlackRock’s ETH ETF Decision

Ethereum (ETH) dipped 0.5% on Tuesday after the Securities and Exchange Commission (SEC) postponed its decision regarding BlackRock’s application to list and trade options contracts on the iShares Ethereum Trust (ETHA). This delay has contributed to a cautious market atmosphere, as investors closely monitor regulatory developments that could impact Ethereum’s future.

The SEC has delayed its decision on BlackRock’s application to list and trade options on the iShares Ethereum ETF (ETHA), surprising many who had expected a positive outcome. Just last week, the regulator approved similar applications for spot Bitcoin ETFs, leading to heightened optimism in the market. However, the postponement has left investors feeling disappointed and uncertain about the future of Ethereum options trading.

On Tuesday, Ethereum is trading at approximately $2,660, marking a 0.5% decline for the day. In the last 24 hours, the cryptocurrency experienced over $19.67 million in liquidations, with long positions contributing $13.88 million and short positions accounting for $5.79 million. This volatility highlights the ongoing fluctuations in the market as traders react to recent developments.