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The Ethereum price dropped 2% in the last 24 hours to trade at $3,067 as of 04:07 a.m. EST on trading volume that rose 8% to $15 billion.
This comes as Tom Dunleavy, Managing Partner at MC Global, believes that Ethereum ETF (exchange-traded fund) inflows could reach $10 billion after they are launched as early as this month.
According to Dunleavy, this surge could send the ETH price to a new all-time high, possibly in the fourth quarter of the year.
Analyst: Up to $10B inflow expected after launch of ETH ETFs
Tom Dunleavy, a macro analyst at cryptocurrency investment company MV Global, predicted in an interview with Cointelegraph that the price of Ethereum (ETH) will hit a new high at the end of the year. Dunleavy claims…
— CoinNess Global (@CoinnessGL) July 11, 2024
Earlier this year, BTC ETFs saw an inflow of $15 billion. Eight Ether ETFs are awaiting final approval, with Bloomberg Intelligence predicting that it may happen by July 18.
Ethereum Price Set For A Rebound Over The Falling Wedge
The Ethereum price in the last day soared from $3,068 support to as high as $3,200 yesterday, according to data from GeckoTerminal. However, the bears have since taken control, driving the token down within a falling wedge pattern.
ETH price has crossed below both the 50-day and 200-day Simple Moving Averages (SMAs), which coincides with the current downtrend. Moreover, the selling pressure has driven the Relative Strength Index (RSI) down towards the 30-oversold level, currently at 31.
If the selling pressure continues, the price of Ethereum may retrace further to the next strong support around $$3,000 in the short term.
However, rising interest from investors in anticipation of Ether ETF approvals could lead to a bullish reversal. The golden cross around $3,120 may also encourage the bulls to add more buying positions, potentially pushing ETH to its target of $3,200.
Meanwhile, as the Ethereum price continues to struggle to regain momentum, some investors are turning to projects like eTukTuk (TUK), which has raised more than $3.5 million and now has only 2 days left in its presale.
Crypto analysts Crypto Boy says TUK has the potential to soar 100x after its launch.
Hottest Buy – eTukTuk Raises Over $3.5 Million As Presale End Nears
Currently in the final days of its successful presale, eTukTuk has raised over $3.5 million, with only 2 days remaining until the ICO ends.
eTukTuk is an exhilarating play-to-earn game in which players drive the flagship eTukTuk vehicle through the bustling streets of Sri Lanka. It’s inspired by the Crazy Taxi game, with players picking up and dropping off passengers to earn rewards, upgrading their vehicles, and unlocking new cities for endless adventures.
TukTribe, are you ready to customize, race, and earn with your virtual eTuktuks in the most eco-friendly and exhilarating game ever? 🛺💚
Every race you win helps us drive sustainability, innovation, and carry us through the end of the presale and $TUK listing on a major… pic.twitter.com/kM1OVfp75i
— eTukTuk (@eTukTukio) June 4, 2024
It blends the thrill of high-speed racing with the opportunity to earn real rewards, enhancing the overall gaming experience.
So far, it boasts over 3,000 downloads on the App Store and Google Play Store even before the official launch of the token. By purchasing TUK tokens in the presale, players gain early access to exclusive in-game rewards and special upgrades.
Happy weekend, TukTribe! 🌟
We’re thrilled to announce that we’ve had over 3000 new app downloads this week alone! 🎉
We’re loving the excitement and support. Our team's almost done prepping for the DEX & CEX launch. Ready to moon, $TUK holders? 🚀#Sustainability 🛺♻️ pic.twitter.com/8nOe5lhED4
— eTukTuk (@eTukTukio) June 22, 2024
Additionally, you can earn a passive income of 80% annually by staking your TUK tokens.
You can join in the action by buying TUK tokens for $0.0345 each using ETH, USDT, BNB, or a credit/debit card. But hurry as this is the last chance to buy before the presale closes in less than 3 days.
Visit the official eTukTuk website to make your purchase.
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