Yigit Taha OZTURK 
The U.S. Securities and Exchange Commission (SEC) has repealed a controversial accounting rule that discouraged financial institutions from offering crypto services. Following this decision, analysts suggest that Ethereum (ETH) now presents a low-risk, high-reward opportunity.
A Critical Opportunity for ETH!
Markus Thielen, the Head of Research at 10x Research, stated that this development could enable Ethereum’s decentralized finance (DeFi) services to expand, strengthening the network’s position as the backbone of the ecosystem.
On January 23, the SEC repealed the accounting rule known as SAB 121. This rule had required financial companies to record the crypto assets they held as liabilities on their balance sheets. The rule had faced significant backlash from the crypto industry since 2022.
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Thielen noted that while he is not typically an advocate for Ethereum (ETH), the current price chart presents a “convincingly low-risk, high-reward opportunity.”
Ethereum’s Technical Outlook
Currently, ETH/USDT is trading at $3,325. While it climbed to $3,707 on January 7, it failed to maintain its position above $3,500.
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According to Thielen, Ethereum (ETH) could break its existing triangle pattern, and setting a stop-loss near $3,186 could be a prudent approach.
A New Target for ETH: $7,000!
Crypto analyst Titan of Crypto argues that Ethereum (ETH) reaching $7,000 is inevitable. Another analyst, Crypto Caesar, commented, “ETH is about to explode.”
Additionally, Ethereum (ETH) whales have reportedly accumulated $1 billion worth of ETH, further reinforcing investors’ expectations that $5,000 could be tested soon.
Ethereum ETFs and the Trump Family Factor
Joseph Lubin, Ethereum’s co-founder and the CEO of Consensys, highlighted two key factors likely to drive ETH prices in the near future:
- Ethereum ETFs: ETF issuers are waiting for regulatory approval for funds that allow ETH staking.
- Trump Family and Ethereum: Lubin suggested that the Trump family is likely to establish an Ethereum-based business.
The SEC’s repeal of SAB 121 could lead to greater adoption of Ethereum by institutional investors. While technical analysis suggests setting a stop-loss at $3,186, most analysts believe that ETH holds significant potential for upward momentum in the coming months.
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