Ethereum ETF is expected to launch in mid-July, and the price is expected to rise
The cryptocurrency industry is about to usher in a major development: the United States is about to approve the spot Ethereum ETF. This news may trigger a sharp rise in the price of ETH. Nate Geraci, president of ETF Store, shared the expected launch timeline of the first spot Ethereum ETF.
Ethereum price remains above key support
The expectation of ETF approval seems to have a stabilizing effect on the price of Ethereum. Currently, the price trend of Ethereum is stable and the market sentiment is optimistic. Nate Geraci said:
"ETH-more optimistic about the breakthrough in the third quarter. It is expected to hit $4,000 this month or next month."
According to the chart he shared, the price of ETH needs to remain in the range of $3,300 to $3,350 to rebound to $4,000.
The impact of ETFs: The launch of the spot Ethereum ETF will attract a large amount of institutional funds, enhance market liquidity and investor confidence, and thus drive up the price of ETH.
Market sentiment: As the expectation of ETF approval increases, market sentiment tends to be optimistic. Investors are optimistic about the future trend of ETH, further pushing up the price.
Key Support Level: Currently, ETH price fluctuates in the range of $3,300 to $3,350. This support level is crucial for the price to rebound to $4,000. Breaking through this range will verify the market's optimistic expectations.
