ETH Price Reversal Soon as Ethereum ETF Coming in Two Weeks

The price of Ethereum (ETH) fell an additional 3.72% on Sunday, June 23, amid a broader market correction. However, now would be a good time to fish on the bottom, as an ETH price reversal could be on the horizon with Ethereum spot ETFs going live in just two weeks.

Ethereum ETF approval expected in two weeks?

Nearly 8 companies submitted S-1 amendments to the U.S. Securities and Exchange Commission (SEC) last Friday, while preparing for the launch of the Ethereum Spot ETF at the end of the first week of July.

Nate Geraci, president of the ETH Store, said that the next two weeks will be crucial for the crypto market. He said the approval of the Ethereum spot ETF could have far-reaching implications and could potentially put the crypto back on an upward trajectory.

In his recent tweet about Platform He believes these fees could send shockwaves through the Bitcoin ETF spot market, as there is also a mini BTC trust.

“Buckle your seat belt,” says Nate Geraci, who expects some volatility and potential opportunities over the next couple of weeks. In a major prediction, Gercai also said that spot crypto ETF assets would overtake physical gold ETFs by this time next year.

Soon a reversal in the price of ETH?

Along with Bitcoin, Ethereum fell victim to selling pressure, with its price falling below $3,400 at press time. However, on-chain indicators suggest that a price reversal could be on the horizon for Ethereum very soon.

Read also: Top 5 Reasons Why Ethereum Price Is About to Reverse

Despite strong Layer 2 activity hitting all-time highs, Ethereum gas fees were the lowest in years. This shows that the Ethereum blockchain network is ready to handle greater scalability. Crypto analyst Ali Martinez also said that active Ethereum addresses reached their highest level in three months, reaching a total of 617,170.

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