#Grayscale ETF Approval

#ETH Market Insights
Ethereum Price Predictions: Ethereum faces a critical barrier at $2500.
Ethereum experienced futures liquidations worth $70.27 million over the past 24 hours, with a total long and short liquidation of $34.22 million and $36.05 million, respectively.

Ethereum (ETH) faced a new rejection at the key resistance level of $2,510 on Monday, leading to a wipeout of weekend gains. The resistance was reinforced by the convergence of the simple moving averages (SMA) for 50 days and 200 days.

On its way down, the leading altcoin may maintain a support level near the range of $2300-$2400 - which Ethereum was unable to break through last week - supported by its 50-day exponential moving average (EMA). If this support fails, Ethereum may bounce off key levels at the lower bound of a broader symmetrical triangle near the 100-day simple moving average or the support level of $2110.

On the positive side, Ethereum must maintain strong movement above the 200-day simple moving average to rise and test the upper limit of the symmetrical triangle. If it surpasses the barrier of the symmetrical triangle, it may rise to retest the key resistance level at $2850.

The Relative Strength Index (RSI) is testing a neutral level, while the Stochastic (Stoch) is above the midpoint, indicating a modest dominance in bullish momentum.