Ethereum is watching $ 1,600 after the SB 1373 law in Arizona. The regulations of the new law for the creation of crypto asset reserves led to expectations that it could create remarkable mobility in the market.
SB 1373 crypto currency law
The SB 1373 law provides the authority to manage various crypto assets such as Bitcoin, Ethereum, Stablecoin and NFT to the state treasury. The regulation allows the inclusion of assets seized by law practitioners to this portfolio. The fact that the law provides the opportunity to invest in a certain part of the annual budget raises the risk of increasing capital flow.
Ethereum (ETH)
On-Chain data reveals that about 57,000 ETHs have been withdrawn from Ethereum stock exchanges in recent days. This shoot corresponds to a value exceeding $ 91 million at current prices. Market observers say that this movement may be an indication of opportunities by strategic investors.
In the technical analysis, it is predicted that the upward movement may accelerate if the price closes on the middle band at $ 1,657. The compression of the Bollinger bands is an important signal that volatility will increase. Investors consider this situation as part of long -term rise expectations.
The implementation of the Arizona law not only affects local regulations, but also can be an example for other US states. Although the expression of certain names is not included in the official explanations, the regulation is thought to be an important step in the integration of crypto assets into official financial systems.
The current consolidation process is supported by positive signals in technical indicators and increasing investment shootings. Investors need to closely monitor both the developments in legal regulations and the data put forward in technical analysis.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
