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The Ethereum price dropped 1% in the last 24 hours to trade at $3,442 as of 03:44 a.m. EST on trading volume that plunged 19% to $15.4 billion.
But there may be better news ahead for ETH investors with the chief investment officer of Bitwise, Matt Hougan, predicting that the launch of ETH ETFs could push Ethereum above $5k. ETH ETFs are widely expected to launch as early as next week.
Ethereum Price Currently In A Sideway Pattern, Bulls Aiming For A Bullish Trend Above
The Ethereum price has been on a surge in the last week to hit the $3,495 resistance zone, data from GeckoTerminal shows. ETH’s price then entered a consolidation phase over the past two days, forming a sideways pattern with fluctuations around the $3,450 range.
The bulls aim to win the struggle for dominance above the pattern, with ETH trading above both the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, the Relative Strength Index (RSI) is trading up towards the overbought region, currently at 55, which is an indication that buyers are actively buying.
The bulls may also be capitalizing on the Moving Average Convergence Divergence (MACD) blue line, as it forms a bullish crossover.
The Ethereum price analysis shows an upcoming bullish trend over the consolidation phase, with the bulls targeting $3,700.
However, in an inverse scenario, the price of Ethereum could retrace back to the $3,247 mark (200-day SMA).
As Ethereum investors hope for a rally after the launch of ETH ETFs as early as next week, the 99Bitcoins YouTube channel, with over 700K subscribers, says the Mega Dice (DICE) presale has the potential to soar 100X after its launch.
Mega Dice Presale Blasts Past $1.6 Million – Next 100X Crypto?
Mega Dice (DICE) is a Solana-based token that has amassed over $1.6 million in presale.
Mega Dice is a crypto platform that has over 11,000 monthly users who lock in more than $50 million in bets. The platform also offers over 4,000 casino games to its users and over 50 sports and eSports betting options.
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Token holders also stand a chance to share in the casino’s profits daily through its unique staking system.
Start staking your $DICE tokens! 🚀
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This solidifies $DICE as the #1 GameFi token on SOL. Whether you choose to play or stake, you’re winning BIG with Mega Dice! 🔥… pic.twitter.com/dKcwvGomO7
— Mega Dice Casino (@megadice) July 3, 2024
To join the presale, you can buy $DICE on the official website here for $0.09548 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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