The leading cryptocurrency, Ethereum, is struggling to stay above the $3,500 mark amidst uncertainties about SEC approval of an ETF. Bitcoin, on the other hand, has surpassed $69,000 but is facing resistance at that level. Investors are keeping a close eye on macroeconomic indicators and other market uncertainties related to various platforms.

SEC’s Evaluation of Ethereum ETF

The SEC is collecting feedback and analyzing arguments regarding the approval of an Ethereum ETF. With no new discussions scheduled between issuers and the SEC, it is unlikely that an ETF for Ethereum will be approved by May 23. Ethereum’s price is currently hovering around the $3,200 support line, with potential further decline if this level is breached.

Ethereum Compared to Bitcoin

The ETH/BTC trading pair has broken the 0.05BTC support level, indicating a possible drop to 0.043 and 0.039. Shiba Coin is facing challenges in maintaining momentum due to rejection from potential buyers. Chiliz (CHZ) has seen an 8% increase, reaching $0.14, but is encountering resistance at the $0.144 mark.

Key Considerations

• SEC's decision on the Ethereum ETF is uncertain.
• Ethereum is struggling to maintain support levels.
• The ETH/BTC ratio suggests a tough period ahead for Ethereum.
• Shiba Coin's performance is intertwined with Bitcoin's.
• Chiliz (CHZ) has potential for gains but is currently facing resistance.

Investors should monitor SEC decisions, Bitcoin's performance, and the resistance levels faced by these cryptocurrencies to anticipate their future price movements.

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