PANews reported on December 5 that cryptocurrency research organization 10x Research released its latest report stating that ETH is currently testing the upper boundary of a large triangle pattern. If the breakthrough is successful, the price is expected to first hit the 2024 high of $4,092 and may further challenge the all-time high of $4,812.

The agency said that predictions that Paul Atkins might be appointed as the next SEC chairman appear to be coming true, with a more friendly regulatory environment for the crypto industry expected under his leadership.