Ethereum ETF is coming, is it eyeing $5,000?

Ethereum enthusiasts, the moment you have been waiting for is finally here.

According to the latest news, the Ethereum ETF will be officially launched on July 23! What does this mean? It means that the price of Ethereum is expected to break through the historical high and go straight to $5,000 or even higher.

From a technical analysis perspective, Ethereum’s daily chart shows that the market momentum is very strong. Currently, ETH is trading around $3,500. Moreover, multiple moving averages are providing strong support for the current price.

Once the price breaks out of the resistance area, weekly resistances at $3,750, $3,850 and $4,050 will no longer be a problem.

There will be 9 ETH ETFs launched next week, 7 of which will be hosted by Coinbase. This is simply adding fuel to the rise in Ethereum prices. In addition, Trump will also attend the Bitcoin conference and give a speech. His pro-cryptocurrency stance will undoubtedly inject more vitality into the cryptocurrency market.

To sum up, whether from the perspective of data analysis, market dynamics or policy environment, Ethereum is very likely to set a new historical high this time.

So, investors, are you ready for the explosion of Ethereum?

Buy these 4 altcoins with the potential to increase 100 times now!

1. DONE

FET prices have increased by 3.26% in the past day and 23.36% in the past seven days. Furthermore, despite a 12.36% drop in the past 30 days, the year-to-date return is 112.37%, highlighting the long-term bullish sentiment.

Technical indicators RSI and MACD show a continued rise in bullish sentiment, highlighting that the cryptocurrency market has more buying pressure than selling pressure on altcoins.

If the market continues to gain momentum, AI Super League price will be ready to test its overhead resistance at $2,230.

2.LMR

As price volatility in the cryptocurrency space increases, LMR prices have surged 23.87% in the past day, with a trading volume of $326,710, a gain of +246.36%. In addition, it has risen 165.92% in the past seven days and 50.62% in the past month.

The green histogram of the Moving Average Convergence Divergence (MACD) has been trending upwards since the beginning of the month, with its average showing a steady upward trend. This highlights the positive outlook for altcoins in the coming weeks.

If the bulls sustain the Lumerin price above its important support at $0.02610, the price will drop towards its upper boundary at $0.04320.

3.TURBO

Turbo price continues to show positive trend, up about 28% in the past day and 95.64% in the past seven days. In addition, it is up 9.46% in the past 30 days, with a year-to-date return of 1,556.32%.

The technical indicator RSI has successfully tested its midpoint and is heading towards the overbought zone, indicating a strengthening of bullish sentiment in the market. Moreover, the averages are trending positively, suggesting that Turbo prices will continue to rise.

If the market continues to trade on the bullish sentiment, Turbo Coin price will be ready to test its overhead resistance at $0.00945 in the coming weeks.

4.ZK

Although zkSync’s price has increased by over 30% in the past few weeks, it is still nearly 37% below its all-time high. As of this writing, ZK is trading near $0.197, up nearly 3.7% intraday.

Additionally, recent trading indicates an increase in demand, which could further push prices higher. According to Coinmarketcap, trading volume has surged by 35.98%.

zkSync is a layer 2 protocol designed to enhance Ethereum’s scalability using advanced zero-knowledge (ZK) technology. In addition to increasing Ethereum’s throughput, it aims to uphold the core principles of freedom, self-sovereignty, and massive decentralization.

The bullish trend will continue and the price could reach its all-time high of $0.30. The price is above the 20-day EMA and the RSI is at 58.4, supporting the positive trend and a bullish divergence is seen on the chart.