Crypto Experts Predict Ethereum Price Direction After ETH ETF Approvals

Last week was monumental for crypto as the SEC-Approved Ethereum ETFs. Close to approval, the price of ETH rose from around $3,000 to just below $4,000.

Let’s now explore what top crypto analysts think about Ethereum price prediction.

Ethereum Price Prediction

At the time of this publication, the Ethereum price it is trading around $3,850, down around 1.5% in the last 24 hours. Jelle, an analyst with over 84,000 followers on X, shared insightful analysis on the ETH price prediction against BTC. He believes that Ethereum’s multi-year reaccumulation phase has concluded with the ETF approvals, signaling that it is time for the ETH price to skyrocket. In a chart, he compared Ethereum to Bitcoin, showing ETH rebounding from support near $0.05, with the current ratio at around $0.057.

It is important to note that, although approved, Ethereum ETFs have not yet begun trading. Some analysts predict that the launch may not happen before July or August. _gabrielShapir0, another prominent analyst with over 40,000 followers, offered a different perspective.

He suggested that ETF approvals were just the first step, and that full S-1 approvals could face delays due to political factors related to ESG rules.

The momentum of the Ethereum chart is bullish, but shows signs of inflection. While the MACD (Moving Average Convergence Divergence) is still above the signal line, indicating positive momentum, the falling MACD histogram bars suggest that momentum may have peaked and may be approaching a downturn.

Currently, Ethereum price is neither overbought nor oversold based on Relative Strength Index (RSI) levels between 30 and 70. The analyst has identified the closest support levels at $3,200 and $2,930, while zones of Nearest resistance is at $4,000 and $4,800.

For Ethereum to continue its upward trajectory, it needs to surpass $4,000, at which point the highest area of ​​2021 would be “within reach”.

Best Cryptocurrencies to Buy Now Amid Ethereum ETF Approvals

Amid Ethereum ETF approvals, some experts are highlighting promising altcoin projects as potential investment opportunities. ClayBroa YouTuber with 130,000 subscribers, recently posted an upbeat video about Dogeversehighlighting it as one of the best cryptocurrencies to invest in at the moment.

Dogeverse pre-sales generated tens of millions of dollars with just six days left to participate. There is great interest and excitement surrounding the end of pre-sales. To avoid fraud, ClayBro emphasizes the use the official website link in the description.

Dogeverse aims to be the biggest new meme coin of 2024, although it faces competition from high market cap coins such as Dogecoin and Shiba Inu. Unlike typical meme coins, Dogeverse aims to provide real utility through a multi-chain approach and high staking yields. It allows users to transfer assets between different blockchains without using centralized exchanges, focusing on building an ecosystem and providing real utility beyond just being a meme coin.

The project has a rapidly growing community with significant social media engagement. Pre-sale ends on June 3rd at 6am Eastern Time, with claim launching at the same time on June 5th. As an example of potential returns, ClayBro mentions purchasing 10 Ethereum from Dogeverse, which could generate significant gains. Additionally, Dogeverse offers 48% annualized interest for staking, with a seven-day tiebreaker waiting period.

Another project worth highlighting is WienerAI, a new meme coin that combines popular AI technology trends and dog-themed meme coins. WienerAI raised over $3.2 million in its crypto pre-sale.

Conclusion

In short, although the price of Ethereum has increased following the ETF approvals, analysts have mixed perspectives on the Ethereum price prediction. Meanwhile, projects like Dogeverse and WienerAI are shaping up to potentially be one of the best altcoins to invest in right now.

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