Ethereum spot ETF postponed launch, outlook for the future
1. Short-term shock upward
Before the Ethereum spot ETF is officially launched on July 8, the market may shock upward in the short term. If it fails to pass the approval, it will also bring expected positive impact.
2. Pullback after the positive effect is realized
After the positive effect on the 8th is realized, there may be a short-term pullback. Smart funds may leave the market, including the selling pressure of 10 billion Ethereum held by Grayscale. It is expected that there will be a shock pullback for one to two weeks, and then it will go up again.
3. Historical trends and market expectations
Referring to the previous two rounds of bull markets, July usually closes positive, and September is often the main rising wave. In addition, CZ is expected to return within four weeks, and the negative impact of the Mentougou incident on July 15 will be resolved. The operation in July should be mainly low-long.
4. Technical analysis
Ethereum's descending wedge breakthrough has been completed. As long as the retracement does not fall below 3409, the market is expected to continue to rise, with a target of around 3600-3700.
As I said, at this stage, we are planning some good currencies
If you believe, are interested, and want to witness the strength
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