Ethereum Price Prediction 22 May: ETH Blasts Toward $4,000 as ETF Deadline Approaches – Time to Buy?

cryptonews.com:

ETH has lifted by 2% in the past 24 hours, with the Ethereum price rising past $3,700 on a day when the crypto market as a whole is basically flat.

This price gives ETH a 29% gain in a week and a 17% increase in a month, with the altcoin sitting on a 105% rise in the past year.

And what has boosted Ethereum this week has been the news that the SEC may approve several spot-based ETH ETFs tomorrow, after the regulator asked for applicants to resubmit certain filings.

If the SEC does approve the ETFs, we’re likely to see the Ethereum price continue its upwards trajectory for several days, if not weeks.

ETH’s price chart shows some indication that the coin may correct a little today, even if good news tomorrow could push it back up again.

Its indicators have flagged slightly, with the coin’s relative strength index (purple) sliding from 90 late on Monday night/early Tuesday morning to about 55 today.

At the same time, it looks as though ETH’s price may be about to sink below its 30-day average (orange), which is flattening out in a sign of declining momentum.

Yet such a loss of momentum may be temporary, with ETH’s 24-hour volume still highly elevated today at $32 billion.

This indicates strong sustained interest in the token, which is awaiting the deadline tomorrow for several spot-based ETH ETFs.