{"id":565556,"date":"2021-01-31T12:01:18","date_gmt":"2021-01-31T09:01:18","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=565556"},"modified":"2021-01-31T12:03:34","modified_gmt":"2021-01-31T09:03:34","slug":"ethereums-1350-is-the-level-to-watch-ahead-of-the-monthly-close","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereums-1350-is-the-level-to-watch-ahead-of-the-monthly-close\/","title":{"rendered":"Ethereum’s $1,350 is the Level to Watch Ahead of the Monthly Close"},"content":{"rendered":"
Quick take:<\/strong><\/p>\n Ethereum investors<\/a> and traders have been watching for close to a week as ETH consolidates at the $1,350 support area. At the time of writing, Ethereum is trading at the exact level with only a few hours away from the monthly and weekly close later tonight.<\/p>\n From the daily chart below, it can be observed that Ethereum<\/a> has printed an ascending triangle that could resolve to the upside with the new month of February.<\/p>\n <\/a><\/p>\n In addition to the ascending triangle, Ethereum has multiple events in the month of February that could send the value of ETH to new all-time highs<\/a>.<\/p>\n To begin with, the CME Group will be launching its Ethereum futures contracts<\/a> on the 8th of February. Such an ETH product will make Ethereum available to institutional investors.<\/p>\n Secondly, the Grayscale Ethereum trust has opened the private placement of its shares to the same institutional investors. The team at Grayscale made public the availability to subscribe to the Ethereum trust, via the following tweet.<\/p>\n As of 4 pm EST today, Grayscale Ethereum Trust resumed the private placement of its shares. The Trust\u2019s private placement is offered on a periodic basis throughout the year and is now available to accredited investors for daily subscription. $ETH<\/a> https:\/\/t.co\/wcwbhDmtYj<\/a> pic.twitter.com\/4RZWiQWpJn<\/a><\/p>\n — Grayscale (@Grayscale) January 29, 2021<\/a><\/p><\/blockquote>\n\n
Ethereum Events in February Hint of More Bullishness for ETH<\/h2>\n
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