- Current State of the Ethereum Market
- Technical Analysis of Ethereum
- Promising Alternatives to Ethereum
The Ethereum price dropped by 4% in the last 24 hours to $2,612, with trading volume up by 5% to $15.9 billion. The crypto market correction coincided with MetaMask's partnership with Mastercard.
Current State of the Ethereum Market
The Ethereum price dropped by 4% in the last 24 hours to $2,612. Trading volume increased by 5% to $15.9 billion. This correction came alongside MetaMask's partnership with Mastercard to launch a pilot self-custody debit card program for users in the UK and EU. If successful, the product will be rolled out to other regions. The main benefit of the card is the ability to self-custody funds until transactions are processed.
Technical Analysis of Ethereum
The Ethereum price dropped from over $2,750 to a support level at $2,600 in the last 24 hours. The project lost over $150 in value during a sharp correction. Technical indicators suggest a potential recovery: Bollinger bands are widening again, and the Relative Strength Index (RSI) has started to rise after hitting the oversold zone. If this trend continues, a new rally could start, though the price has not yet responded to the RSI movement.
Promising Alternatives to Ethereum
During times of high market volatility, some traders might look for alternatives to Ethereum. One such option is the GameFi token on Solana's network – Mega Dice (DICE), which is currently in presale.
Ethereum remains highly volatile, with technical indicators suggesting a possible recovery. For those unwilling to take risks, alternative investment opportunities are available.
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