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The Ethereum price has gained 1% in the last 24 hours to trade at $2,039 as of 9:30 a.m. EST.
CoinShares says inflows into ETH investment funds show there’s been a decisive turn-around in sentiment toward the second-largest crypto by market capitalization.
It said that crypto fund inflows into Ethereum investment products rose $34 million last week, contributing to a cumulative run that has now surpassed $100 million.
This four-week streak of inflows has nearly completely offset the outflows experienced throughout the rest of the year, indicating a significant and decisive shift in sentiment.
Ethereum Price: Bullish Momentum Sustains Despite the Pullback
The Ethereum price shows a resurgence, rebounding from the 50-day Simple Moving Average (SMA) coinciding with the $1774 support and surpassing the $1928 resistance level, which was positioned above the descending channel pattern.
However, the $2150 resistance has proven resilient, as bears have exploited it, resulting in a subsequent price decline.
Currently, the price trades above the 50-day and 200-day simple moving averages, affirming the prevailing bullish sentiment and establishing short-term support.
The Relative Strength Index (RSI) is trending downward at 54, indicating substantial selling pressure. If the neutral level at 50 is resilient enough, buyers should add more positions, possibly catalyzing an upward price movement.
Ethereum Price: Bulls Poised To Drive ETH Past $2150
The sentiment is overly bullish, with bulls poised to drive the price past the $2150 resistance. This could generate the momentum required for further bullish movements, with a target set at a potential high of $2500.
If bears capitalize on the correction after the $2150 resistance, there is a likelihood of driving the price down, potentially retracing to the support zone at $1928.
A breach below the $1928 level could escalate selling pressure, leading to a subsequent decline in price targeting the critical support level at $1774, aligning with the 200-day SMA.
As we await to see how Ethereum will act, investors can explore presale Meme Kombat, which some experts says is poised for 10X gains after listing.
Meme Kombat Secures $2.2 Million, Edges Close to $2.5 Million Target
The Meme Kombat (MK) presale has achieved remarkable success by surpassing the $2.2 million mark and is swiftly closing in on its $2.5 million target.
Representing a groundbreaking venture in the play-to-earn space, MK brings together beloved meme characters to engage in thrilling AI battles.
It's a Mortal Kombat finisher for context⚡️
— Meme Kombat (@Meme_Kombat) November 28, 2023
Presently, MK tokens are available at a discounted rate of $0.214 per token. Note that the current rate will increase to $0.225 in less than two days, emphasizing the urgency of securing tokens at the current rate.
Stake To Earn 408% APY, 10X Growth Potential
Investors also have the opportunity to earn passive income through this innovative staking platform.
Currently, the platform boasts an attractive annual percentage yield (APY) of 408%, with an impressive 9.6 million MK tokens already staked.
About 1.5 million tokens have already been distributed as rewards, marking one of the most competitive APYs available in the current market. It’s crucial to know that the APY gradually decreases as more MK tokens are staked, so buying and staking are important now.
📣 Major Update 📣
The Meme Kombat Staking Dashboard is officially live and ready to be used by you!
Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G
— Meme Kombat (@Meme_Kombat) November 9, 2023
The project has garnered attention from investors and analysts who recognize Meme Kombat as a potent force in the market.
YouTuber and crypto analyst Jacob Bury shared his insights on the project in a video on his YouTube channel. In his assessment, Bury expressed confidence in MK’s potential for a 10X increase and disclosed how much he has invested in the project.
You can buy MK tokens on the official Meme Kombat website by connecting your wallet and swapping your ETH, USDT, or BNB.
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