Will Ethereum Price?

Ether has underperformed relative to Bitcoin for over a year, with Bitcoin posting significant gains bolstered by over $14 billion in flows to its spot ETFs in 2024.

The anticipated launch of ETH ETFs on July 8 could be a "golden egg" for Ether's price action. However, Bitcoin is expected to face sell pressure as $8.5 billion worth is returned to creditors of the collapsed exchange Mt. Gox starting this week, according to a report by K33 analysts.

The 100 EMA frequently serves as a reliable gauge of the general trend, and a break below it could trigger a large sell-off. Having currently regained the critical $3,000 level, Ether now needs to reclaim the 3,360 support level before July 8. If it fails, the short-term rally might be paused.