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Ethereum Rebounds from $2,863 Support Level

Written By: ChartChamp

July 8, 2024

Ethereum has formed a bullish rebound at a key support level around $2,863. We have not seen these price levels since May 15 when Ethereum ETFs were approved. Since then the SEC has determined that Ethereum is not a security, and even though we had a rally to $3,900 the price has dropped back down to $2,863 again. Ethereum ETFs have not been listed for trading yet, which has led to a lot of FUD and speculation. We are seeing a lot of rumors that the Ethereum ETFs will be listed in July, but the actual date isn’t clear yet either. For now ETH is below the green zone again between $3,050 and $3,150. The Ethereum listing could potentially be the catalyst for helping the price rise. For now I’d like to see the price hold above $2,863 and rise above $3,150 over the next few days.

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