Ethereum price prediction ETH up 0.5% with $6 billion trading volume. Are whales accumulating?

The price of Ethereum has increased by 0.5% in the last 24 hours, reaching $1,866 as the cryptocurrency market sees a similar gain today.

In the past week, ETH has decreased by 2%, but over the last 14 days, it has increased by 14%. Since the start of the year, the largest altcoin in the market has also increased by 56%.

With a 24-hour trading volume of over $6 billion, ETH could potentially experience further gains in the next few days, especially considering recent signs of significant whale transfers involving the cryptocurrency.

Even if ETH doesn’t rally in the short term, its fundamentals suggest that it will likely see sustained increases over the medium and long term.

Ethereum Price Prediction: ETH Up 0.5% with $6 Billion Trading Volume – Are Whales Accumulating?

ETH has seen a slight increase in the past hour, with its chart and indicators reflecting this apparent boost in momentum.

One notable change is its relative strength index (RSI), which has risen from just below 40 yesterday to just above 50 today. This indicates a growth in buying pressure that still has room to intensify further.

In addition, its 30-day moving average has leveled out after showing signs of potentially falling towards its 200-day average. This suggests that further gains may be on the horizon.

There are also indications that ETH’s support level has risen over the past couple of weeks, forming an interesting pennant with the altcoin’s resistance level. This suggests that a break may occur in the next few days, with ETH’s price action converging to a point where it could see a significant movement in either direction.

Given ETH’s fundamentals and overall position, it is more likely that such a movement will be upwards rather than downwards.

This is supported by the fact that whales have been selling ETH throughout the week, indicating that they may soon start accumulating the coin again.

Furthermore, if there is one altcoin that should rise when the market becomes more bullish, it is Ethereum. It continues to dominate the DeFi market and its introduction of staking has resulted in a significant amount of ETH being taken out of circulation.

Combined with the burning of transaction fees, this suggests a future where ETH’s supply is increasingly limited, leading to higher demand for the token.

It is also worth noting that ETH has not been classified as a security by the SEC, unlike other altcoins such as Cardano, Solana, Polygon, and many others.

From its current level just below $1,900, it is likely to reach $2,000 in the next few weeks. By the end of the year, it could easily climb to $2,500, and a potential bull market in 2024 could push it beyond $3,000 once again.

New Meme Tokens Promise Big Gains

Despite its strong fundamentals, it is unlikely that ETH will experience significant growth spurts in the coming months. Instead, its appreciation is expected to be gradual and long-term.

Traders seeking immediate gains may prefer to explore newer altcoins that have not yet experienced initial rallies. Presale tokens, in particular, offer promising opportunities for such rallies.

One of the newest presale coins is Thug Life Token (THUG), a meme token that adopts the trappings of gangsta rap and hip-hop culture to attract investors.

Its presale launched just a couple of days ago and has already raised over $100,000. With a maximum total supply of 4.2 billion THUG, the majority of tokens have been allocated to the presale, ensuring community ownership of the new meme token.

In contrast to many other recent token offerings, the presale will have only one stage, which makes THUG available at a price of $0.0007.

The sale will end after hitting its hard cap of $2,058,000, meaning that it’s basically already 5% of the way there.

Given that meme tokens have probably been the biggest success story in crypto this year, THUG has every chance of rallying massively once it launches on exchanges in the next few weeks.

Investors can buy some by going to the official Thug Life Token website and connecting their software wallets, with THUG buyable using ETH, USDT or fiat currency.

Visit Thug Life Token Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Translation:

In contrast to many other recent token offerings, the presale will have only one stage, which makes THUG available at a price of $0.0007.

The sale will end after reaching its hard cap of $2,058,000, indicating that it is already 5% of the way there.

Considering that meme tokens have likely been the most successful story in the cryptocurrency industry this year, THUG has a high chance of experiencing a significant increase in value once it is launched on exchanges in the coming weeks.

Investors can purchase THUG by visiting the official Thug Life Token website and connecting their software wallets. THUG can be bought using ETH, USDT, or fiat currency.

Visit Thug Life Token Now

Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You could potentially lose all of your invested capital.