Ethereum

Bitcoin

Spot

<ul> 
 <li><strong>Ethereum struggled to defeat the bears and traded in the range of $3K.&nbsp;</strong></li> 
 <li><strong>The spot Ethereum ETF approval is expected by July 18.</strong></li> 
 <li><strong>Ahead of this, a whale withdrew 16,449 ETH from Binance.</strong></li> 
</ul> 
<p>The crypto market is struggling to recover from the bear-hold to the potent bull momentum. Ethereum (ETH), the largest-capped altcoin, marks the slightest revival above $3K with a gentle spike of 1.52% in the last 24 hours. The highest ETH price marked was $3,127, and the lowest was $3,025.&nbsp;</p> 
<p>Notably, Ethereum bulls and bears are feuding to break the price above the $3K range to set a new high of $3.5K. At the time of writing, ETH traded at $3,121. After a considerable decline of 28.81%, the daily trading volume was $14.94 billion, according to <a href="https://coinmarketcap.com/currencies/ethereum/#Chart" target="_blank" rel="noreferrer noopener nofollow">CMC</a>. In the last 24 hours, nearly $29.7 million worth of ETH liquidated from exchanges.&nbsp;&nbsp;</p> 
<p>Amid the market fluctuations and ahead of the spot Ethereum ETF approval, an Ethereum <a href="https://thenewscrypto.com/will-these-ethereum-whale-transfers-lower-the-chances-of-recovery/" target="_blank" rel="noreferrer noopener">whale</a> withdrew 16,449 ETH valued at $50.3 million from Binance around 13 hours ago, as per the data from <a href="https://x.com/spotonchain/status/1810850804754174371" target="_blank" rel="noreferrer noopener nofollow">SpotOnChain</a>. Notably, this is the whale’s first major accumulation of ETH. All the withdrawn Ethereum has been transferred to a new wallet.</p> 
<p>Meanwhile, spot ETH <a href="https://thenewscrypto.com/vaneck-and-21shares-update-s-1-filings-for-spot-ethereum-etf-approval/" target="_blank" rel="noreferrer noopener">ETF</a> issuers have submitted the amended S-1 registration statements to the Securities and Exchange Commission (SEC). Thus, approval is expected on July 18.&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="h-can-the-eth-bulls-reach-3-5k-soon">Can the ETH Bulls Reach $3.5K Soon?</h3> 
<p>ETH was down by 7.15% over the past week, hitting a monthly low of $2,850. By evaluating the 24-hour price chart, the daily relative strength index (RSI) stands at 39.45, which hints at the asset’s nearly oversold condition. The short-term 9-day moving average (9MA) of $3,120 is below the 21-day moving average (21MA) and both the MAs hover above the current price action, indicating a bearish trend.&nbsp;</p> 
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<p>If the ETH revival strengthens, the price might test its initial resistance in the $3,391 range. The next key resistance levels will be between $3,487 and $3,692. If the ETH fails to maintain its price above $3,000, it may fall to immediate support near the $2,875 level. Further support might be in the $2,710 range.</p>

What’s Ahead for ETH with Spot Ethereum ETF on the Agenda?

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