• Market experts are hopeful about an impending rise in the price of Ethereum (ETH) following the halving of Bitcoin, based on past trends.
• Analysts believe that even if an ETF denial occurs, it would not significantly impact ETH negatively, as approval remains a strong indicator for a bullish market.
• According to Crypto Trader Jelle, the previous Bitcoin halving served as a signal for ETH to experience significant growth.

Anticipated Ethereum Rally Following Halving

Despite recent fluctuations, analysts predict a surge in ETH prices after the Bitcoin halving event. The historical data suggests that Ethereum has often witnessed upward momentum after similar occurrences in the Bitcoin market.

Balancing ETF Concerns and Market Sentiment

There are ongoing worries regarding the rejection of a potential Ethereum ETF. However, professionals like Jupiter Zheng from Hashkey Capital believe that any potential adverse effects on the market would be limited since it is not currently factored into the market. Conversely, the approval of a spot ETF with staking features is viewed as a substantial positive factor.

Technical Analysis Backs the Optimistic View

Crypto trader Jelle has identified an ascending triangle pattern in the ETH price chart since June 2023. This pattern, reminiscent of the period before the 2020 halving, indicates the likelihood of a substantial rally.

Uncertainty Surrounding ETF Investigations

The SEC’s inquiry into the Ethereum Foundation introduces doubts regarding the approval of a spot ETF. Nevertheless, analysts like Zheng are confident in the future prospects of ETH, declaring that the "ETH season" is still on the horizon.

Summary

While uncertainties loom over ETF approval due to the SEC investigation, analysts maintain a positive outlook on the potential post-halving performance of Ethereum. Historical analyses and technical assessments suggest that there is a promising chance for a surge in ETH prices, offering encouraging prospects for investors in the cryptocurrency.