🚀 The world’s second-largest cryptocurrency Ethereum surged past $3,700, trading at $3,713 with a market cap of $446 billion. The SEC delayed BlackRock’s spot Ethereum ETF proposal, seeking public feedback on concerns related to Ethereum’s proof of stake mechanism and fraud susceptibility.

💼 Similar delays occurred for Fidelity’s proposal, with a final deadline set for VanEck’s application on May 23. Opinions vary on spot ether ETF approval, with optimistic voices eyeing May for potential SEC approval, while skeptics remain cautious.

📈 Despite ETF uncertainties, Ethereum's price rally continues. The upcoming Ethereum Dencun upgrade is crucial. Ethereum surpassed $3,650, forming a bullish trend line, with resistance at $3,720 and $3,780.

🔜 Further upside could see Ethereum targeting $3,920 and potentially $4,000, with a test of $4,200 possible.