Hong Kong launched recently three Ethereum ETFs to allow its residents to interact and explore. It is important to take note of this step, as it highlights the rise web3 stories that have been sweeping around the globe.
It has been said that the launch of Ethereum’s ETFs will be significant for its price, since it can cause ETH to experience a price spike which is needed for it to rise to a price threshold.
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Ethereum price prediction post-ETF launch: how will it perform?
Ethereum is viewed as a positive by the recent launch of an ETF in Hong Kong. ETF trading will help Ethereum recover and stabilize its value.
The Persistence of the People CoinCodexMay could be a very important month for ETH. The token might slowly gain momentum to enter the bullish league.
CC expects Ethereum’s value to change by 2%, trading at $3 261.
“The Ethereum price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Ethereum projections, ETH will change hands at $3,268.39 on May 6, 2024, gaining 2.41% in the process.”
As well, it predicts Ethereum trading, holding steady and continuing to trade at $3.200 by 29 May.
“The price of Ethereum may rise by 2.60% and reach $3,274.49 by May 29, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 67 (greed). Ethereum recorded 18/30 (60%) green days with 5.57% price volatility over the last 30 days.”
Price Triggers for Ethereum
Heavy speculation about the Ethereum ETF’s launch in May also lingers, causing ETH’s price to drop. US regulators are also looking forward to the launch of Ethereum ETF in May. After the announcement investors will notice a rise in price, and Ethereum could possibly reach new levels.
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Launching Ethereum ETFs can also assist ETH in regaining some lost volume. Ethereum ETFs can help ETH regain some of its lost strength.
“Ethereum may trade within a range of $3,191.41 and $6,633.12. If it reaches the upper price target, ETH could increase by 108.69% and reach $6,633.12.”
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Source: watcher.guru