Following the official launch of Ethereum spot ETFs, ETH recorded a performance of 1.28%. Let’s look at the future prospects for ETH together.
Ethereum Price Situation (ETH)
As mentioned in the analysis from July 17, Ethereum reached the bottom of its range before bouncing back over 25%. In less than two weeks, the crypto price went from $2,800 to $3,500. This volatility was marked by the anticipation of the official launch of Ethereum spot ETFs on July 23. This event did not significantly impact the crypto on the first day. Indeed, ETH has been stabilizing in a range between $3,560 and $3,350 for a week now. It should be noted that this consolidation is happening below the last peak of Ethereum’s short-term bearish trend, also acting as an important value area. From a technical perspective, breaking this zone would be appreciated to change the short-term structure of the crypto.
At the time of writing, Ethereum is trading just…
