Ethereum (ETH) Price Prediction: As ETH Drifts Down, This Altcoin's Presale Has Surged To $500K

Ethereum (ETH) Price Prediction: As ETH Drifts Down, This Altcoin’s Presale Has Surged To $500K

Updated: 14 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Ethereum (ETH) is trading at $1,546 as of 2:32 a.m. EST, reflecting a 0.5% decrease in value over the past 24 hours, with its trading volume also dropping by 31.3%.

Open interest has also decreased, which shows that investors are shifting their interest toward other, more actionable alternatives for volume.

ETH $1,530 Support Could Propel Bullish Momentum

ETH/USD Chart Analysis. Source: Tradingview.com — ETHUSD Chart Analysis. Source: Tradingview.com

The present ETH trading situation suggests a potential upward movement. This possible ascent follows a price decline, evident through a series of red daily candlesticks originating from the $1,770 supply zone after a rebound from the $1530 support zone, where the price currently forms a double bottom pattern.

The Relative Strength Index (RSI) supports the bullish outlook, as it currently exhibits a bounce below its neutral position at the 50-mark, with a reading of 37, signifying neutrality on ETH and potentially aiming for the 50 level.

The 50-day and 200-day moving averages currently sit above the current price at $1,625 and $1,795, respectively. Despite the bullish rebound indications, the bulls still need to overcome the hurdle of the 50-day SMA.

Bullish Outlook for ETH Supported

A double-bottom pattern supports a generally bullish outlook for the ETH price. Key levels to watch are $1,770 and $1,891.

However, if the bulls are rejected at $1,661, which coincides with the 50-day SMA, they might retreat to the $1,530 support level. Breaking below this level could lead the price to touch the $1,417 support level.

The risk of retreat suggests the need for alternatives and Meme Kombat’s unique presale strategy has garnered significant interest. Thanks to its S2E and P2E features, investors now have the option to view MK as a viable alternative to ETH.

Join Meme Kombat, Earn Rewards

Meme Kombat is poised for substantial growth following its presale. It combines the world of memes and artificial intelligence to establish a competitive arena on the Ethereum Network.

It also offers automatic staking benefits during its presale and a diverse range of betting options. It also employs a well-structured tokenomics plan to ensure sustainable growth.

I know we're in kombat, but can I get a gm today? ☀️#MemeKombat pic.twitter.com/aUchjLImNI

— Meme Kombat (@Meme_Kombat) October 11, 2023

The MK platform enables you to wager your tokens in contests featuring popular memes. If your selected meme emerges as the winner, you’re entitled to a portion of the prize pool.

You also have the option to collaborate with others to place bets and share the resulting winnings.

Meme Kombat Presale Is Half Sold Out

The Meme Kombat (MK) presale, which launched a few weeks ago, has already raised $497,560, bringing it closer to its $1 million fundraising goal.

This demonstrates significant investor interest in the presale token and shows that time is running out for investors.

You feel that?

That's the sweet sound of $MK soaring to the moon 🚀

Big week ahead of us memers🔥 pic.twitter.com/zUiqf002MY

— Meme Kombat (@Meme_Kombat) October 11, 2023

Investors, and those seeking passive income, can use $MK on the MK Platform. The platform offers automatic staking benefits during the pre-sale, provides various betting options, and implements a well-structured tokenomics model for sustainable growth.

Meme Kombat’s staking-to-earn and play-to-earn features present appealing opportunities for investors.

Degen or gamer or both?

Everyone can engage in kombat⚔️

Watch the full video from @BuryCrypto below👇 pic.twitter.com/GyGi2TRTvi

— Meme Kombat (@Meme_Kombat) October 13, 2023

You can buy Meme Kombat during the presale, stake your tokens, and earn a high Annual Percentage Yield (APY) of 112% by allocating 30% of the token supply for staking and battle rewards.

Popular YouTube personality Jacob Crypto Bury, boasting 22.7K subscribers, explains Meme Kombat’s operation and a guide on utilizing its staking feature.