Ethereum's price is currently experiencing a sideways trend, with a potential support level at $3389. Despite a mixed performance in July in previous years, the launch of U.S.-listed Ethereum ETFs, expected in mid-July, could favor buyers.

Historically, Ethereum's price in July has been a mixed bag, with the largest gain being 56.62% in 2022 and the largest drop being -27.29% in 2017. On average, July has a positive return of 6.95%, but the median return is -4.41%, indicating a volatile month for Ethereum.

The near-term trend in Ethereum's price is sideways, with a potential triangle formation that could signal a continuation of the uptrend. The price currently trades at $3389, with a market capitalization of $407.3 billion. If the supply pressure persists, the price could drop another 5% to seek support at the long-coming trendline.

However, with 78% of Ether held by long-term holders, indicating a strong belief in the asset's future value, the odds lean in favor of buyers. Technical indicators such as the Bollinger Band and Moving Average Convergence Divergence also suggest a potential rebound.

In conclusion, Ethereum's price in July is expected to be volatile, but the launch of U.S.-listed Ethereum ETFs could favor buyers. With a strong belief in the asset's future value and potential technical rebounds, Ethereum's price could challenge the triangle's upper boundary at $3860. A bullish breakout from the triangle pattern would signal a better confirmation of uptrend continuation.