ETH Price Shoots 4% Despite a Delay in ETF Launch

Krutika Adani

Ethereum Breaches $3500

For the first time this week, Ethereum has crossed $3500, gaining 4% in the last 24 hours. The corresponding trading volume is $10 billion.

Factors Helping Ethereum

The possibility of an Ethereum ETF launch within July has kept Ethereum bulls on their toes.

News on Spot Ethereum ETFs

According to the SEC’s comments, the ETFs might take one week more to launch, possibly in mid-July.

What Experts Say

Gautam Chuggani and Mahika Sapra, top analysts from Bernstein, estimated that with the launch of Ethereum ETFs, the price of ETH might witness a 70% rally towards $6600.

Levels To Watch

Ethereum's price has been in a bullish uptrend and might remain so as long as it is above $3000. Any good news might push it towards $4000.