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The Ethereum price has jumped by 12% in the last seven days to trade at $2,542 as of 9:00 a.m. EST.
ETH’s recent outperformance against Bitcoin, which is down 13.5% from its intraday high last week, is driven by investors betting that Ethereum ETFs (exchange-traded funds) will be the next to gain regulatory approval, says analyst Lucas Outumuro from IntoTheBlock.
Ethereum Price Prediction
Looking at an in-depth analysis of 1-hour ETH/USD charts, Ethereum bears seem to be garnering momentum as several indicators point out. The Relative Strength Index (RSI) indicator is reverting from its northern trajectory as it now heads south, showing fading bullish momentum on the token.
The MACD indicator is also reverting towards the red zone also showing mounting bear pressure. Looking at trends, the Ethereum price is currently facing strong bear trends as shown by the Average Directional Index (ADX), which is moving south.
Should bears break below the support level, an Ethereum price plunge will be imminent as the price moves within range.
1-hour ETH/USD Chart | Source: TradingView
Meanwhile, as the Ethereum price displays bearish prospects, Bitcoin Minetrix is emerging as a compelling alternative for investors eyeing presales with explosive potential in 2024. The project’s BTCMTX token presale has so far garnered over $8.5 million out of the targeted $9.1 million.
BTCMTX Poised To Soar On The Halving
Dispensing with the necessity for expensive specialized equipment, Bitcoin Minetrix introduces a groundbreaking approach to mining. This innovation significantly reduces mining costs and streamlines the entire process, eliminating inconvenience.
With the upcoming halving in April, mining costs are projected to soar.@RiotBlockchain, @TeraWulfInc, and @CleanSpark_Inc are well-positioned, but what's your take on how other miners will adapt? 🚀⛏️
On the other hand, #BitcoinMinetrix has also now raised over $8,400,000! 📣 pic.twitter.com/BwdYTOkrWF
— Bitcoinminetrix (@bitcoinminetrix) January 15, 2024
To promote active engagement in the ecosystem and ensure equitable profit distribution, this novel cloud mining model provides exclusive access to gas token holders. The potential for lucrative returns is enticing, with BTCMTX coins currently priced at just $0.0128 each.
Crypto YouTube analyst Jacob Bury forecasts a potential tenfold increase in BTCMTX’s value upon its launch, further enhancing the project’s allure.
As Bitcoin Minetrix readies itself for the upcoming halving event in April, investors are poised for substantial gains. Analysts project a significant surge in Bitcoin prices around the halving event, making this investment opportunity even more enticing.
If you harbour an interest in acquiring BTCMTX tokens, it’s imperative to act promptly as its price will be hiked in about 17 hours.
Bitcoin Minetrix facilitates diverse payment options, including bank cards, Ether, and Tether, enhancing accessibility for potential investors. With the Ethereum price now showing the possibility of a drop in the short term, Bitcoin Minetrix’s BTCMTX token could be your go-to alternative.
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