The cryptocurrency market has seen a strong price rally over the past weekend. This has helped Ethereum price reclaim the $3,300 mark. Moreover, with the increased bullish sentiment, ETH price is likely to see some positive action this week.

Moreover, with the recent market rally, the Ethereum token market cap has crossed the $400 billion mark and is currently valued at $404.72 billion. In this context, investors are worried about whether Ethereum will reach $5,000 and whether ETH will rise again.

Scroll down because in this article, we have covered the market sentiment, price analysis, and possible short-term price targets of ETH price. To know if the Ethereum token will hit $10,000 in this bull rally, read CoinPedia’s detailed analysis on the Ethereum Price Prediction.

ETH coin price evolution:

Ethereum price started the week on a positive note by adding 5.67% to its portfolio over the past two days. Additionally, the altcoin recorded 5 out of 7 positive days over the past week, highlighting increased buying pressure.

TradingView: ETH/USDT

Additionally, with the continued bullish price action in the crypto space, the ETH Price is about to test its descending channel pattern resistance trendline, the outcome of which is unpredictable.

With a jump of around 5% over the past day, the Ethereum token has regained the $3,300 mark. Moreover, the altcoin leader has surged by 11.76% over the past seven days, indicating an increase in bullish sentiment within the cryptocurrency market.

Ethereum Market Sentiments:

The Relative Strength Index (RSI) has crossed above its midpoint and is heading towards its overbought zone. This indicates a strong bullish reversal in the crypto space. Moreover, the average trendline is showing a positive curve, suggesting that the ETH price will continue to gain value this week.

The MACD indicator is showing a steady rise in the green histogram, highlighting an increase in buying pressure. Moreover, the averages have registered a bullish convergence, indicating a positive outlook for the altcoin leader in the crypto space.

Will ETH Price Hit $4,000 in July?

If Ethereum price breaks out from its channel pattern resistance trendline, the bulls will gear up to test its upper resistance level of $3,700. Sustaining the price at this level will pave the way for the ETH cryptocurrency to head towards its higher high of $4,000 in the coming time.

Conversely, a bearish trend reversal could push Ethereum price towards its July low of $3,000.

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Digital asset investment products saw back-to-back inflows this month, with $1.44 billion recorded last week, according to CoinShares“Last weekly fund flow report.

The recent inflow brought the year-to-date total to a record $17.8 billion, surpassing the $10.6 billion in inflows in 2021.

However, trading volumes remained low, at around $8.9 billion, compared with a seven-day average of $21 billion.

Bitcoin sees fifth largest inflow.

A flow analysis showed that Bitcoin Last week, Bitcoin recorded its fifth-largest weekly inflows ever, totaling $1.5 billion. Conversely, short-Bitcoin saw its largest weekly outflow since April 2024, amounting to $8.6 million.

This move suggests a shift in market sentiment for the cryptocurrency industry. Bitcoin’s large inflows indicate growing investor confidence in the asset’s potential for substantial growth, with many investors taking advantage of the recent price drop to enter the market.

James Butterfill, Director of Research at CoinShares, said:

“We believe that price weakness due to German government bitcoin sales and a sentiment reversal due to lower-than-expected US CPI prompted investors to add to their positions.”

Crypto Asset Inflows (Source: CoinShares)

In the meantime, EthereumCryptocurrency-linked crypto products attracted $72 million in inflows ahead of the launch of its cash exchange-traded funds (ETFs). This was its largest inflow since March, bringing its year-to-date flows to $57 million.

Nate Geraci, President of ETF Store, predicted The SEC will reportedly approve ETH ETF products for trading this week as the financial regulator “sees no good reason to delay further at this point.”

Additionally, large-cap alternative digital currencies like Solana, Chainlink, Avalanche and XRP has recorded more than $8 million in cumulative admissions.

Regionally, the United States led the way with capital inflows of $1.3 billion last week, reflecting generally positive sentiment. Switzerland set a yearly record with $58 million in inflows, while Hong Kong and Canada recorded $55 million and $24 million, respectively.

Mentioned in this article

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2:00 p.m. ▪ 4 min read ▪ by Luc Jose A.

Between groundbreaking announcements, technological advances, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most significant news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.

Assassination attempt against Trump: Bitcoin soars

Last Saturday, an assassination attempt against Donald Trump during a rally in Pennsylvania shook the political and financial scene. The shooter, Thomas Matthew Crooks, was neutralized after wounding Trump in the ear. This attack triggered an immediate reaction in crypto markets, with the price of Bitcoin rising 5.5% to $62,450. Donald Trump’s support for the cryptocurrency industry stands in stark contrast to that of his opponent Joe Biden, who has bolstered investor confidence in a potential pro-crypto administration. Bitcoin’s rise has been followed by other cryptocurrencies like Ethereum and Solana, driven by public support from influential figures like Elon Musk.

XRP Takes Another Step Towards Institutional Recognition

Ripple has taken a crucial step in integrating XRP into the institutional market with the announcement by the Chicago Mercantile Exchange (CME) to launch real-time price indices for the crypto. The move, backed by Ripple CEO Brad Garlinghouse, marks a significant step forward for XRP and provides institutional investors with reliable and accurate price references. The launch of these indices by CME, in partnership with CF Benchmarks, includes continuous updates based on the activities of major trading platforms such as Coinbase and Kraken. This could pave the way for future developments such as an XRP-based ETF, further strengthening its position in the traditional financial market.

Bitcoin joins French retirement savings plans

Bitcoin made a notable entry into Retirement Savings Plans (PER) via an innovative partnership between VanEck Europe and Inter Invest. This partnership introduces a Bitcoin ETN, allowing French savers to diversify their portfolios with the leading crypto. This ETN, backed by real bitcoins and held by a regulated custodian, ensures secure and controlled exposure to this emerging asset class. Jean-Baptiste de Pascal, Deputy CEO of Inter Invest, underlines that this initiative is part of a strategy to democratize innovative financial assets. Martijn Rozemuller, CEO of VanEck Europe, adds that while Bitcoin is currently volatile, it represents an innovative asset in the long term. This integration of Bitcoin into the PER opens up new opportunities for savers while modernizing the retirement savings sector in France and meeting the expectations of investors seeking diversification.

USDT surpasses Bitcoin, Ethereum and Solana in trading volume

Tether (USDT) recently reached daily transaction volume exceeding $55 billionoutperforming Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Solana (SOL) combined. This performance underscores the growing role of stablecoins in the crypto ecosystem, especially during periods of high volatility. The increased demand for more stable assets like USDT, coupled with its growing use in trading, is behind this trend. The increased liquidity provided by USDT boosts investor confidence and stabilizes trading. The outlook for USDT and stablecoins, in general, is promising but depends on regulatory developments and market adoption.

That’s the main takeaway from this week. But if you’d like a more detailed summary and in-depth analysis delivered straight to your inbox, feel free to Subscribe to our weekly newsletter.

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Luc José A.

A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I am committed to raising awareness and informing the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of current events, decipher market trends, relay the latest technological innovations and put into perspective the economic and societal challenges of this ongoing revolution.

DISCLAIMER

The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.

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A busy week for Ethereum (ETH)The cryptocurrency has surpassed the $3,300 mark, driven by growing anticipation surrounding the Ethereum Spot Exchange Traded Funds Approval Imminent (ETF). According to Cointelegraph, analysts like Nate Geraci are betting big on this development, predicting that the SEC could greenlight eight ETH ETFs by the end of the week.

ETF Approval Imminent

Nate Geraci, known for his insightful analysis on The ETF Store, is optimistic about the chances of launching ETH spot ETFs this week. According to Cointelegraph, Geraci and insiders close to the process believe there are few hurdles left, suggesting that ETF approvals could go smoothly.

The Meteoric Rise of Ethereum

Ethereum’s price surging past $3,300 shows how confident the market is in ETFs. Experts like MV Global’s Tom Dunleavy predict an influx of money from big investors once these ETFs go live. Speaking to Cointelegraph, Dunleavy described Ethereum’s appeal as a tech stock in the crypto world that’s easier for ordinary investors to understand than Bitcoin.

Recent Ethereum Developments

While ETFs are in the spotlight, Ethereum’s core setup is seeing big improvements. According to Cryptoquant, Ethereum developers are talking about projects like Pectra and PeerDAS. These projects aim to make Ethereum faster and more secure, which is crucial to its long-term success.

What future for ETH?

ETH is now trading around $3,357 and climbing, all eyes are on Ethereum’s future. The focus is on two things: how regulators will decide on ETFs and the new technology updates that are underway. Analysts and investors are glued to these details, expecting them to shape Ethereum’s performance in the months to come. Moreover, if these ETH spot ETFs get the green light, it could send Ethereum’s price even higher.

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