Ethereum (ETH) is at US$3,029.60 per coin. The price has increased by 1.02% from the previous day. In the past week, the price of ETH has also increased by 3.78%.

The increase in the price of ETH this week is likely due to several factors, including:

The potential release of a spot Bitcoin ETF in the United States.

Investor optimism about Ethereum's long-term prospects.

The announcement from the Fed that they will slow down the rate of interest rate increases.

The potential release of a spot Bitcoin ETF in the United States is good news for the crypto market as a whole. This is because a spot Bitcoin ETF can increase the accessibility of retail investors to the crypto market.

Investor optimism about Ethereum's long-term prospects is also a factor supporting the increase in the price of ETH. Ethereum continues to develop into a more efficient and secure platform. This can attract more users and developers to the Ethereum ecosystem.

The announcement from the Fed that they will slow down the rate of interest rate increases is also a factor supporting the increase in the price of ETH. This is because lower interest rates can increase investor purchasing power and drive demand for risky assets, such as crypto.

The ETH price outlook for next week is still positive. The ETH price is expected to continue to strengthen as investor optimism increases towards Ethereum's long-term prospects.

Here are some factors that could affect the ETH price next week:

Global stock market performance.

Bitcoin price movements.

Release of important economic data, such as inflation and economic growth.

Announcements from the Fed or other crypto regulators.