Ethereum has been trading between $1185 and $1225 for the past 24 hours. Ethereum (ETH) was able to break through the $1200 mark last night, followed by a consolidating sideways movement in an extremely narrow range over the course of Saturday. This means that ETH is still trading unchanged on a weekly basis. Can today’s price gain of around 2% on Saturday favor a recovery over the weekend? Ethereum Price Prediction:
Ethereum price broken out on hourly chart: $1280 in sight, new 7-day high marked
A look at the hourly chart shows Ethereum’s solid performance over the past few days. First, Ethereum broke through the trend channel downwards, a massive sell-off now seemed possible, possibly even the final capitulation. However, the bulls do not seem ready to give up the fight for the support zones just yet. Ethereum is currently fighting its way back above $1200 and is again trading at a 7-day high after there was hardly any resistance after the FTX crash. The price level of $1280 could now be decisive. Should Ethereum overcome this, one could be more optimistic in the short term. On the downside, $1150 acts as key support up to the psychological limit at $1200.
FUD as far as the eye can see: Ethereum remains stable
Bitcoin Maximists turn against Ethereum, describing the network as worthless. According to this, all cryptos except Bitcoin are scams. Discussions on social media are becoming increasingly controversial following the FTX crash. The former basic investment Ethereum, which undoubtedly has utility as the leading platform for DeFi, NFTs or Smart Contracts, is being massively questioned. At the same time, there are rumors that Ethereum founder Vitalik Buterin could now sell up to $50 million in ETH. Whether this is FUD or whether fact-based information is shared in part can often only be clarified with immense research effort. ETH holders shouldn’t panic too much. Because the rumors currently do not seem able to push the course any further. Rather, a new 7-day high was made ? after the FTX crash, investors find the current price level rather favorable.
Half of Ethereum holders are sitting on losses: net outflow from exchanges over the weekend, whales accumulate
On-chain data shows that half of all Ethereum holders are currently in negative positions. Only 3% are on the breakeven point, 47% still have book profits, which are likely to melt steadily. With each further sale, it becomes more likely that the Ethereum holders are no longer willing to realize the increasing losses and shrinking book profits make a sale less sensible. As a result, the chance of a finally successful bottom formation increases. At the start of the weekend there was also a strong net outflow of ETH from the exchanges ? unlike bitcoin or tether.
The recent rebound is once again fueled by rising interest from crypto whales. According to data from Santiment, the whales have massively accumulated ETH with 100 to 100,000 coins in the past few weeks ? around 1.9% of the available supply.
These two crypto presales are planning the ICO in the near future ? buy now?
As an alternative to Ethereum, investors could also take a look at new coins, which traditionally have little correlation with the overall market and have already been able to attract investors in recent weeks despite bearish sentiment. With both presales there were now fundamental changes because of the changed situation? Ergo, Dash 2 Trade and Calvaria will shortly begin the last presale phase in order to then target the public start of trading. So could Dash 2 Trade and Calvaria soon outperform the broad market? bullish potential:
Dash 2 Trade: Those in charge of Dash 2 Trade have recognized the moment and have now shortened the presale. The hardcap has been significantly reduced. Because the product development is far ahead of the original planning. As a result, the company is already able to launch the multifunctional and AI-based dashboard, which is intended to offer traders all kinds of added value. Because in times of increasing uncertainty, a well-founded analysis is required, which could be as successful as possible with Dash 2 Trade. If demand for Dash 2 Trade’s affordable offering increases, native ERC-20 token D2T could pump.
calvaria: With around two million $ raising capital calvaria now reach a new milestone. The penultimate presale phase is 95% complete. Those responsible have now decided that the upcoming phase 5 is the final stop to accumulate cheap RIA tokens. Anyone who gets in now can achieve book profits of 30%. At the same time, Calvaria remains an exciting crypto presale with the support of well-known CEX such as Gate.io and the claim to reach the mass market.
“Investing is speculative. When investing, your capital is at risk. This website is not intended for use in any jurisdiction where the trading or investment described is prohibited and should be used only by persons and in ways permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. So do your own due diligence. This site is available to you free of charge, however we may receive commissions from the businesses we feature on this site.”