Ethereum is the second cryptocurrency in terms of capitalization, the movements of which are followed by many members of the crypto community. The editors of BeInCrypto decided to find out what the second month of summer could be like for ETH. To do this, we asked experienced experts to give an Ethereum forecast for July 2023.
StormGain crypto exchange expert Dmitry Noskov believes that the behavior of ETH this month will largely determine the further steps of the US Securities and Exchange Commission (SEC). The “health” of cryptocurrency, in his opinion, depends on whether the regulator continues its “crusade” on the crypto industry and how much pressure it will put on its participants.
Ethereum course. Source: TradingView
Recall that in June, the SEC significantly expanded the “black list” of cryptocurrencies, which, according to the regulator, are illegally issued securities. At the same time, ETH, despite the interest of the Commission in the coin, did not get into it.
“Previously, market participants feared that ETH could be included in the list of digital currencies that the regulator considers securities. Nevertheless, during the trial between the SEC and the Ripple companies, documents were made public, according to which the SEC still rather considers Ethereum a commodity – like bitcoin. In the event that the regulator officially announces such a position regarding ETH, the token rate may rise in July to $2,000 or more. If, nevertheless, it is recognized as a security, then the Ethereum rate will rush to $1000,” Dmitry Noskov summed up.
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Also, the Ethereum forecast for July 2023 was given by Bitget Managing Director Gracie Chen. In her opinion, during the second summer month, ETH will fluctuate in the range from $1,700 to $1,950. At the same time, our interlocutor recalled that the coin, in many respects, repeats after bitcoin.
“If BTC successfully breaks the $31,000 mark, it will trigger a surge in altcoins. Changes may cause ETH to try to overcome the previous resistance level fixed in the $2141 area,” Gracie Chen summed up her Ethereum July 2023 forecast.
Recall that earlier we collected Ethereum forecast for 2023 in one review.
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2023-07-02 06:48:44
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