#Gate Launchpad List IKA# #ETH Back to $3,800# #Simple Earn Annual Rate 24.4%#

The expert explained what will happen to the price of Ethereum at the beginning of August.
On Monday, July 28, the second most popular cryptocurrency — Ethereum — is trading slightly below $3,900: over the past week, it has appreciated by about 2%. Ray Youssef, CEO of the crypto platform NoOnes, believes that we are witnessing a rapid shift of institutions towards Ethereum as a strategic asset. According to him, Ethereum confidently occupies the position of the infrastructural foundation for tokenized finance. He also explains that, despite the drop in the price of Ethereum in March to levels of 2022 and high volatility, the demand for this cryptocurrency from large investors is just beginning to grow. Against the backdrop of outflows from Bitcoin ETFs, funds in Ethereum, on the contrary, showed inflows — $1.3 billion just in the past week and over $4.3 billion since the beginning of the month. In the expert's opinion, the path to new price records looks quite simple — unlike Bitcoin, Ethereum is ready to continue rising and surpass the $4,000 mark by the end of July — beginning of August. This is evidenced by the decrease in ETH volumes on exchanges and the increase in staking activity. However, from a technical point of view, there is a nuance — recent dips have balanced the forces of bulls and bears. As a result, to open the path to $4,100, Ethereum needs to consolidate above $3,850. But in this zone, sellers are active, and without significant buying volume, breaking through resistance will be difficult. In the event of a drop below $3,600, a short-term decline to $3,500 or even $3,300 is possible, especially if external macroeconomic risks intensify, which are considered unlikely in the coming days. $ETH