The ETH/USD bounced off the bearish channel resistance

The regulator does not appear to be planning to deny the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise, and Roundhill, that have recently filed to introduce Ether futures ETFs, according to a Bloomberg report from August 17 that cited unnamed sources with knowledge of the situation.
The ETH/USD bounced off the bearish channel resistance and is trading again above $1600.
The next bullish swing could test the resistance of 2 trendlines near the $1900 confluence zone. The short-term target is $1760 support.