Market sentiment on Ethereum worsens despite the upcoming catalyst from ETF launch in early July. How will ETH price react?
As of press time, ETH retreated to a low of $3.2K, an 18% drop from its recent high of $3.9K after the partial approval of ETFs in late May.
‘Before the ETF launch, I expect ETH to trade from $3,000 to $3,800. After the ETF launch my expectation is $2,400 to $3,000.’First, the SEC’s 180-degree pivot and approval in late May was a surprise move that limited the time to convince large ETH holders to move to ETF. ‘On top of that, overall prices have been stagnant to down for 3 months and market sentiment is in the gutter due to a macro/liquidity blip.’
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