Matrixport predicts that the U.S. Securities and Exchange Commission (SEC) is likely to approve a spot Ethereum ETF this week, based on the precedent of the fast approval of the 19-b application in May. It is expected that the launch of the ETF may push the price of ETH to twice its current level. The SEC has requested modifications to the Ethereum ETF, but the deadline for the revised S-1 filing has been set for July 8, and ETFstore President Nate Geraci hinted that once approved, the ETF may begin trading within two weeks.

Bloomberg experts expect the SEC to allow the Ethereum ETF to be listed on July 15. Matrixport further predicts that the price of ETH may rebound to 3,400 after approval, based on historical price trends and a 20% increase after the 19-b application was approved. Asset management company Bernstein set a long-term target price of 6,600 for Ethereum in the bear market, and is optimistic about the market outlook after the ETF is approved.

Currently, the price of Ethereum has risen 2% to 3,050, and trading volume has surged 57% in the past 24 hours, showing the market's high attention to regulatory decisions and increased speculative activities. The key support level is 2900 and the resistance level is 3100, a break above this level could signal a strong recovery in the market.