Ethereum Price Prediction K33 Says ETH Will Outperform BTC After Ethereum ETF Launches Top Analyst Says This New ICO Could Be the Next 100x Dog Coin

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Ethereum prices have plunged more than 4% in the past 24 hours and are trading at $3,293.13 per coin as of 7:30 a.m. EST.
Despite Ethereum’s recent price decline, analysts at K33 Research believe the altcoin king could still outperform Bitcoin (BTC) in the weeks following the launch of a spot Ethereum ETF (exchange-traded fund).
The investment products are expected to launch on July 8, with analysts Vetle Lunde and David Zimmerman calling them a “golden egg” for Ethereum in a July 2 report.
Ethereum price loses key support
ETH/USDT 4-hour chart (Source: TradingView)
Ethereum price lost the critical support of $3,362.72 in the past few hours. As a result, the altcoin is now at risk of falling to $3,239.60 within the next 24 hours. If ETH drops to this price point, continued selling pressure could cause the cryptocurrency to drop to $3,055.05 in the near term.
However, within the next 12 hours, a 4-hour candlestick chart close above the recently lost $3,362.72 price point might invalidate this bearish view. In this alternative scenario, Ethereum price might attempt to overcome the medium-term negative price channel that has emerged on its chart.
ETH breaking through this threshold could be viewed by traders as a signal for a long entry. With this potential buying volume, the ETH price could find enough support to turn the $3,499.55 resistance level into support. In an extremely bullish scenario, the ETH price could climb to $3,629.50.
Technical indicators suggest Ethereum price could continue to fall
Technical indicators on the ETH 4-hour chart suggest that the cryptocurrency price could continue to fall over the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are showing bearish signs.
Over the past 24 hours, the MACD line has crossed the MACD signal line. Traders often view this technical phenomenon as a sign that the cryptocurrency is entering a negative cycle. In addition, the gap between the two lines is also widening, which warns that ETH's bearish momentum is intensifying.
Meanwhile, the RSI line has crossed above its Simple Moving Average (SMA) over the past 48 hours. Since the two lines crossed, the RSI has plummeted to 30, indicating that Ethereum prices have entered oversold territory.
While an RSI reading of 30 could be considered a buy signal, it is not uncommon for the RSI to remain this low as investors sell cryptocurrencies.
While traders are selling ETH, investors are rushing to buy Shiba Shootout (SHIBASHOOT) in the hope of making a 100x return.
Potential to surpass Bitcoin
According to CoinMarketCap data, the traditional SHIB token brought investors a return on investment of 208,000,000%.
But experts predict that Shiba Shootout (SHIBASHOOT) has the potential to surpass this older dog-themed altcoin.
Some of the main factors that have analysts excited about Shiba Shootout are the upcoming P2E game and the high level of utility at this early stage. The project’s game has already been approved by Google Play and Apple’s App Store, and this game is expected to have a significant impact on the adoption and price of the token.
In addition, there will be a lucky lasso draw, which is expected to attract investors and crypto community members. Players will be able to use this meme coin to win a large number of crypto rewards, part of which will go to charity.
In addition to the upcoming games and lucky lasso draws, pre-sale buyers can also receive an incredible 2,264% annualized staking income.
In light of all this, YouTube crypto expert Michael Wrubel told his 312,000 subscribers that he had “found the next 100x Bitcoin” in a recent comment on the project.
Investors are rushing to buy SHIBASHOOT
SHIBASHOOT’s presale is going well and has raised over $480,000.
The meme coin is priced at $0.0194 and can be purchased using ETH, USDT or a bank card through a simple purchase widget embedded on the project’s website. After purchase, the token can be staked to earn an annualized yield of 2,264%.
Interested investors will need to hurry as the price of the token will increase in about 18 hours.
Buy and stake SHIBASHOOT before the price goes up.