Ethereum

Rally

Bitcoin

Amid the market slowdown, crypto analysts believe Ethereum (ETH) might be ready to retest key resistance levels again. Meanwhile, investors are expectant about the second-largest cryptocurrency performance as the final approval of spot ETH ETFs (exchange-traded funds) approaches. 
<h2 style="font-weight: 400" id="is-ethereum-etfs-approval-already-priced-in">Is Ethereum ETFs Approval Already Priced In?</h2> 
The upcoming approval of spot Ethereum ETFs has crypto investors speculating about the launch’s impact on ETH’s performance. Renowned investor Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1811676696065593431" target="_blank" rel="noopener nofollow">believes</a> the news about the S-1 form approval won’t affect Ethereum’s price. 
Per the trader, the announcement will play out like the 19b-4 approval news in May. Nearly two months ago, the rumors about the ETH ETFs decision by the Securities and Exchange Commission (SEC) fueled Ethereum’s rally. 
The ‘king of altcoins’ <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-rises-3200/" target="_blank" rel="noopener ">surged</a> over 30% in anticipation, going from $3,000 to $3,900. However, the token’s price did not see any further impact after the official announcement. 
To Daan, the SEC’s approval won’t be bullish or bearish as it is “99%+ priced in.” The analysts added that “the real test will be the actual flows once the ETFs are live.” 
Moreover, the trader considers the market will see a lot of Grayscale Ethereum Trust (ETHE) outflows, but not “as bad as we saw with GBTC.” Regarding the <a href="https://www.newsbtc.com/news/ethereum/spot-ethereum-etfs-justin-sun/" target="_blank" rel="noopener ">demand</a> for the Ethereum ETFs, the crypto investor affirmed that 20% of spot BTC ETF inflows are expected. 
<blockquote> 
 The expectations will be that it’s anywhere from 10-30% of what BTC got in terms of inflows. I think ~20% is a pretty safe estimate. Anything higher would obviously be a nice surprise. ETH doesn’t need as many flows as BTC does to make it move after all. The market cap is 1/3th and there’s a lot of supply locked up in staking/defi products etc. Pretty thin market compared to BTC. 
</blockquote> 
<h2 style="font-weight: 400" id="eth-3x-rally-in-the-next-year">ETH 3x Rally In The Next Year</h2> 
Crypto analyst Jelle considers that ETH could soon be able to retest key <a href="https://www.newsbtc.com/news/ethereum/ethereum-will-reach-8000/" target="_blank" rel="noopener ">resistance levels</a>. The second-largest cryptocurrency is “reclaiming the 200-day EMA, with the ETFs approaching fast.” 
<img loading="lazy" decoding="async" class="size-large wp-image-629558" src="https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=860&amp;resize=860%2C657" alt="Ethereum" width="860" height="657" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=1680 1680w, https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=860&amp;resize=860%2C657 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/GSRtPGBXYAArlxj.jpeg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
Per the post, If ETH successfully holds this level, the cryptocurrency could test the $4,000 mark. The analyst expects Ethereum to outperform Bitcoin in the following weeks. To him, the flagship cryptocurrency will have a “boring next few weeks” moving sideways. 
Jelle also <a href="https://x.com/CryptoJelleNL/status/1811333415104340020" target="_blank" rel="noopener nofollow">affirmed</a> that investors are not “ready for it to melt faces,” commenting on those who doubt ETH. “Every cycle, people give up on ETH, saying it’s ‘dead tech’ – only to be proven wrong again,” he said. 
ETH’s price has increased by 5.4% in the last week, currently trading at $3,121. Despite registering a 13% decrease in the past month, some market watchers believe ETH’s current price is a good inversion. “Anything close to $3k or below is free 3x in the next 12 months,” <a href="https://x.com/CryptoPoseidonn/status/1811702583494332494" target="_blank" rel="noopener nofollow">said</a> pseudonym crypto analyst Poseidon. 
<img loading="lazy" decoding="async" class="wp-image-629557 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/07/ETHUSDT_2024-07-12_08-46-45.png?w=860&amp;resize=860%2C460" alt="Ethereum, ETH, ETHUSDT" width="860" height="460" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/ETHUSDT_2024-07-12_08-46-45.png?w=1102 1102w, https://www.newsbtc.com/wp-content/uploads/2024/07/ETHUSDT_2024-07-12_08-46-45.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/ETHUSDT_2024-07-12_08-46-45.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/ETHUSDT_2024-07-12_08-46-45.png?w=860&amp;resize=860%2C460 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/ETHUSDT_2024-07-12_08-46-45.png?w=750 750w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1">

Is Ethereum (ETH) About To Retest $4,000? Analyst Foresees 3x Rally

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