Despite a recent market dip that saw Ethereum (ETH) briefly fall below $3,000, industry optimism remains high, with predictions targeting prices up to $8,000. This bullish sentiment is partly fueled by the potential launch of spot ETH ETFs in the US, which some industry participants expect as early as mid-July.

Crypto enthusiasts remain unfazed by the recent crash, predicting a strong rally for ETH in the near future. Mikybull Crypto believes ETH's price has "fully completed its retest on the bull pattern breakout," and expects an uptick to as high as $4,000. McKenna and Poseidon have set even higher targets, with the former predicting $5,000 and the latter forecasting a peak of $8,000 sometime next year.

A major factor that could trigger this upward momentum is the official launch of spot Ethereum ETFs in the US. The US Securities and Exchange Commission (SEC) has approved eight such products, but they are not yet live. According to Bloomberg’s Eric Balchunas, July 18 seems like the “best guess” for a launch date.

Despite ETH dipping below the important resistance level of $3,270, Crypto Tony suggests that everything will be under control as long as bulls hold this level. Currently, ETH is trading at less than $3,100.