Altcoins
Upcoming ETH ETF Trading Signals $5,000 Rally
Ethereum Price Prediction: The Ether and crypto communities are eagerly awaiting the start of ETF spot trading in the United States. This follows advice from a renowned ETF analyst who predicts that the big day will be July 2. Meanwhile, ETH price remains firmly held at $3,500. A breakout of this level could breach the $4,000 resistance, igniting FOMO as investors support the uptrend towards $5,000.
Bitcoin is also starting to shape the next crypto landscape this week after regaining ground above $65,500. With the two largest cryptocurrencies slightly in the green, investors are starting to view the selloff as a blessing in disguise. This means they can implement key dollar cost-cutting practices, buy the dips, and potentially increase potential gains in the second half.
Factors likely to determine the next Altcoin season
The Cryptocurrency Fear and Greed Index fell to 64, still showing investor greed, but significantly below last week’s reading of 74. Alternativemonitors market sentiment, with zero on the scale referring to extreme fear and 100 to extreme greed.
Since markets operate as living entities, sentiment is determined by people. As euphoria increases, investors become greedy because of FOMO. This propels prices higher, but also introduces the risk of a drastic decline when some investors decide to take profits. It is rarely a good idea to buy when the cryptocurrency Fear and Greed Index is near the extreme high.
On the other side of the fence, a decline in indicators suggests that greed is taking hold. With confidence down, many people are choosing to sell, some out of fear of losing their capital or possibly to protect unrealized gains.
It is advisable to buy when the market is red and sell when it is green. With this in mind, investors might consider it a good time to buy their favorite stocks. altcoinsignoring the drop in the fear and greed index to 64.
Ethereum price rose 1.3% in 24 hours to $3,585 on Thursday. The growth in value, although minor, reflects a 0.81% rise in market capitalization to $438 billion. However, the second-largest digital asset is facing a 30% drop in trading volume to $14 billion, a factor likely to hamper potential growth in the coming sessions.
Nonetheless, investors appear to have set their sights on approving the spot ETF. The Securities and Exchange Commission (SEC) approved the listing of cash securities Ethereum ETF in May, awaiting further approval for operators of the products which will eventually give way to effective trading on the stock exchange.
The SEC also dropped investigations into Ethereum, dispelling doubts that Ether could be considered a security.
ETF analyst Eric Balchunas predicted earlier this week that Ethereum ETFs could begin trading on July 2. This followed the announcement that the SEC “sent comments to issuers on the S-1s today, and they are pretty light, nothing major, asking them to get them back in a reasonable amount of time.” week.”
The start of actual trading of Ethereum ETFs could spark new interest in ETH and altcoins. Traditional investors would find it easier to purchase ETH through exchanges, thus validating the crypto market.
CoinGape analysts expect this to be the moment of accountability for altcoins like Solana, XRPand Dogecoin, which would be next in line for spot ETFs.
The move could be bullish for the entire crypto market, including Bitcoin, and possibly pave the way for the much-anticipated altcoin season.
Ethereum Price Prediction: ETH Eyes 30% Breakout
Ethereum Price is making significant progress in its recovery from the correction to $3,400. The token is currently above two exponential moving averages (EMA), the 20-day and the 50-day.
A daily close above the $3,600 resistance would mean the bulls are getting back in the game for a breakout beyond $4,000. The presence of an inverse head and shoulders (H&S) pattern on the daily chart could strengthen the bullish hold once validated.
Ethereum Price Chart | Commercial view
This is an uptrend validated when the price breaks the neckline resistance around $3,800 in Ethereum Price Prediction case. Traders would enter above this resistance eyeing a 30% move near $5,000.
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