Ethereum's price has dropped 3% in the last 24 hours, even with Goldman Sachs's significant ETF investment increase. We analyze the current market scenario and future predictions.
Current ETH Price Analysis
Ethereum's price is showing signs of a downtrend, forming a 'rounded top' pattern, often indicating a bearish reversal. ETH peaked around $4,100 and fell below key support levels. Currently, ETH trades below both the 50-day and 200-day SMAs, confirming the bearish outlook. The RSI stands at 33.46, close to oversold territory.
Ethereum Price Prediction
For a bullish reversal, Ethereum needs to break above $2,950–$3,000. If it holds above $2,750, it may regain strength. Otherwise, it could drop to $2,500 and further to $2,200. A recovery over $3,200 is essential for restoring market optimism.
BTC Bull Token Presale
As Ethereum declines, investors turn to the new meme token BTC Bull, whose presale has raised over $887K in two days. This token offers investors airdrops linked to Bitcoin's price movement and has a strategy to burn tokens, increasing their scarcity and value.
Despite the current fluctuations in the Ethereum market, investors continue seeking promising opportunities, focusing on potential new altcoins and strategic investments.
