Ethereum Price Prediction: TD Cowen Says ETH ETF Approval Unlikely Until As Late As 2026 As This GameFi Presale Races Towards $8 Million

The Ethereum price rose 1.7% in the last 24 hours to trade at $2,312 as of 06:29 a.m. EST on trading volume that soared 40% to $9.62 billion.

This comes as investment bank TD Cowen said approval of a spot Ethereum ETF in the US may not happen until late 2025 or early 2026. 

“We believe there is no upside for SEC Chair Gary Gensler to approve a spot Ethereum ETF given how upset progressive Democrats were over the agency’s approval of a spot bitcoin ETF earlier this month, ” said TD Cowen Washington Research Group analysts led by Jaret Seiberg in a Jan. 29 note. “This is a political call.”

The Ethereum Price Bulls Poised For A Bull Rally Above The Falling Wedge Pattern

Ethereum Price Chart Analysis. Source:Tradingview.com
ETHUSDT Chart Analysis. Source:Tradingview.com

The Ethereum price indicates a rebound from the lower boundary of the falling wedge pattern at $2175, which signals a bullish trend reversal and surge above the upper boundary of the wedge, which coincides with the 50 Simple Moving Average (SMA).

The 200 SMA, however, still poses a challenge for the bulls, while the Relative Strength Index (RSI) shows a rebound from the 30 oversold region, surging to the 50 midline level at 60, indicating intense buying pressure. 

A bullish trend continuation could see the RSI enter the overbought threshold of 70.

The Ethereum Price Prediction

Bullish traders are poised to continue the trend above the falling wedge pattern, aiming for a $2781 high. However, a downside scenario might allow bears to influence a price decline towards the support zone at $2235 near the wedge’s lower boundary.

As the bulls find a footing above the wedge for the ETH price, investors are flocking to the Meme Kombat GameFi token as analysts predict a potential 10X return on investment on launch.

MK Presale Crosses $7.7 Million, $25000 Giveaway At $ 8 Million Target

The Meme Kombat (MK) presale is closing in on its $8 million goal with a few hundred thousand left as it secures over $7.7 million. The team has set a $25,000 giveaway once the presale reaches $8 million and investors can participate by acquiring MK tokens at a discounted rate of $0.279. 

The Meme Kombat team has set the hard cap at $10 million, and the price will remain at $0.279 per token until the $10 million hard cap is achieved.

Join MK Kombat, Stake, Get Rewards, 300USDT Giveaway

The MK platform uniquely fuses GameFi with meme characters, enabling players to engage in battles featuring their favourite memes. 

You can participate in Season 1 of Kombat, where 11 memes compete to claim the title of the best and stand to earn significant rewards if your selected characters emerge victorious. 

You could also be among the three overall winners of the 300 USDT prize in the 900 USDT giveaway by showing your awesome meme skills. The giveaway is still on.

The Meme Kombat team is also working to ensure the timely completion of Meme Kombat NFTs. With their visually appealing design, these NFTs guarantee significant utility in MK Season 2, offering a distinctive fusion of art and functionality.

You also have the opportunity to stake your acquired MK tokens, which returns an impressive 121% annual percentage yield (APY). Over 32 million MK tokens are already staked, with 6.8 million in rewards paid in $MK.

YouTuber and crypto analyst Jacob Bury says the meme coin has the potential to explode on launch. 

To join the presale, visit the official Meme Kombat website, connect your Web 3 wallet, and exchange your ETH, USDT, or BNB for MK tokens.

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  • 5 Top Crypto Presales 2024: Unveiling the Most Anticipated Opportunities! 🚀💰

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