ETH, the native cryptocurrency of the Ethereum network, witnessed a sharp 13.6% surge during Wednesday’s U.S. trading session. The renewed buying pressure followed Donald Trump’s announcement of a 90-day suspension of the tariff war with 75% of countries.
However, this altcoin shows a higher potential bullish turnaround as the U.S. Securities and Exchange Commission approved the listing of several ETH-based products. Will the leading altcoin reclaim the $2,000 floor?
SEC Approves Options Trading on ETH Trusts and ETFs
April 9, 2025 — the U.S. Securities and Exchange Commission approved multiple proposals allowing the listing and trading of options on various Ethereum trusts and ETFs.
According to a recent report, the SEC gave the green light to the Nasdaq ISE’s proposal (as modified by Amendment No. 1), permitting the listing and trading of options on the iShares Ethereum Trust (ETHA).
In parallel, the SEC also approved the proposal of NYSE American LLC, authorizing the option trading of three major Ethereum-based products: the Bitwise Ethereum ETF, the Grayscale Ethereum Trust, and the Grayscale Ethereum Mini Trust.
These approvals signal growing regulatory acceptance of Ethereum as a tradable asset within the U.S. financial system and could pave the way for higher market participation and liquidity.
Ethereum Price Set for 25% Breakout Rally Amid Channel Formation
An analysis of the Ethereum daily chart shows the formation of a falling channel pattern drives the current price correction. Since November 2024, the altcoin has been renounced at least twice from each trendline, signaling the reliability of this asset to influence price movement.
With today’s price jump, the buyers are just 2.6% away from challenging a steeper resistance trendline within the channel pattern. A potential breakout from this resistance will signal the early change in market sentiment and bolster another 25% jump to breach the channel resistance at $2,100.
A bullish breakout from this barrier is needed to acquire ETH’s suitability above $2,000.
If sellers continue to defend the key resistance trendline, the current downtrend will be prolonged to the end of April.
Also Read: AAVE Price Eyes $200 Breakout as DAO Launches Strategic Token Buybacks
