Ethereum bulls ignore regulatory action against exchanges by preparing for the Shapella hard fork By Cointelegraph

For the past twelve days, the price of Ether (ETH) has been trading in a narrow descending range. Surprisingly, not even the news of Binance and Changpeng “CZ” Zhao being sued by the Commodity Futures Trading Commission (CFTC) was enough to break the support level.

Ether (ETH) price index in USD, 12-hour. Source: TradingView

The lawsuit, filed on March 27, claimed that Binance provided derivatives trading services to U.S.-based customers without first obtaining a derivatives license. Additionally, the US Securities and Exchange Commission served Coinbase (NASDAQ:) with a Wells notice on March 22.

Ether 2-month futures annualized premium. Source: Laevitas.ch
Ether 60-day options 25% delta skew: Source: Laevitas.ch