Technical Analysis:
Ethereum is in an uptrend we might see price heading towards 2700-2800 zone. Price is currently retracing towards 2620-2640 zone and from here if we get a MSS on smaller tf with a good displacement of price to the upside we can look for buying opportunities.
Fundamentals:
A United States appeals court has backed a California federal judge’s decision to throw out a crypto-focused law firm’s pre-emptive lawsuit against the US Securities and Exchange Commission in an attempt to force the regulator to clarify its classification of Ether.
Hodl Law’s November 2022 complaint against the regulator in a San Diego district court failed to show “a realistic danger” of it facing SEC enforcement action for breaking securities laws just because it used the Ethereum blockchain and Ether ETHUSD, a ninth circuit appeals court panel said on Aug. 22.
“Hodl Law’s complaint contains no allegations that the SEC has investigated, prosecuted, or threatened to investigate or prosecute the law firm’s use of Ether or Ethereum,” the three-judge panel wrote in an unpublished opinion.
The firm hoped the suit would force the SEC to clarify its position on if it considers ETH a security after it launched a slate of enforcement actions against crypto firms, implicating dozens of cryptocurrencies under securities laws.
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