Will Ethereum (ETH) reach $3,500 this weekend?
Over the past seven days, the price of Ethereum (ETH) has fallen by 7%. As the largest altcoin, it has also suffered from the overall market impact. Now, the price of ETH is $3,090.81, a slight increase of 0.33% on the day. The community had hoped that ETH would return to its historical peak of $4,891.70, but the reality did not meet expectations. The focus now is whether ETH will continue to hover at the current level or sprint to $3,500 this weekend.
Changelly predicts that ETH's trend in the coming week is relatively optimistic, and believes that it may reach a new high of $3,172.27 if it rises another 2.85% from the current level. Although it is still some distance away from the $3,500 mark, there are market rumors that an ETF may be launched in the next few days to help ETH break through this milestone.
So, what factors may push up the price of ETH? Market sentiment, improved regulatory environment, and the launch of the much-anticipated Ethereum ETF are all potential catalysts.
Let's talk about ETFs again. Katherine Dowling, Chief Compliance Officer of Bitwise, revealed that the U.S. Securities and Exchange Commission (SEC) and ETF issuers are "closely communicating" about the details in the S-1 documents, and there are fewer and fewer problems, which means that the issuance of ETFs may really be just around the corner.
At present, there are already eight spot Ethereum ETFs waiting for release on the market. Dowling emphasized: "From the progress of the S-1 amendment, there are fewer and fewer review feedbacks between issuers and the SEC, which clearly indicates that we are not far from the listing of ETFs."
Before the big drop, fans were asked to leave and reduce their holdings, and some cottages that did not rebound and resist the drop were cut. Those who followed the advice can now rest assured and not panic at all. Old fans all know the three bottom-picking positions I gave, of which the position of 56,000 has been successfully touched, and the second opportunity is coming soon. If you want to keep up with this bottom-picking train, pick up the avatar and leave comments 888
