Ethereum briefly fell below $3,000 but has since recovered, with bullish predictions targeting prices up to $8,000.
Optimism is partly driven by the potential launch of spot ETH ETFs in the US, expected by some industry participants as early as mid-July.at the end of last week and the start of the new one has negatively affected Ethereum’s price, which briefly tumbled below the $3,000 mark. In the past 24 hours, though, bulls stepped in, pushing the valuation above that level.
Many crypto enthusiasts seem unfazed by the latest crash, predicting a strong rally for ETH in the foreseeable future. Lucky—an X user with over 2 million followers—the asset’s plunge below $3,000 as “a natural gift.” However, he cautioned investors to keep an eye on the sector in the next few days before making “any big moves.”ETH’s price has “fully completed its retest on the bull pattern breakout,” expecting an uptick to as high as $4,000.
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