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The Ethereum price rose 5% in the last 24 hours to trade at $3,597 as of 02:15 a.m. EST on trading volume that climbed 2% to $42.40 billion.
This comes amid reports that Donald Trump, the US president-elect, holds a total of $7.1 million in crypto, with Ethereum being his top holding. Trump holds a total of $5.38 million worth of ETH, according to on-chain data.
Ethereum Price On A Sustained Bullish Rally
The ETH/USD chart on the 4-hour timeframe shows an overall uptrend over recent weeks. The Ethereum price is forming a bullish rising channel, with higher highs and higher lows, indicating strong upward momentum.
Key levels of interest include the support trendline (lower boundary of the channel) and the resistance trendline (upper boundary of the channel), according to data from GeckoTerminal.
ETH price has maintained its trend above the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, which shows that the Ethereum price is maintaining the bullish trend.
Meanwhile, the Relative Strength Index (RSI) is at 67.42. The RSI is approaching the overbought zone (70+). This suggests bullish momentum is strong, but caution is warranted as the asset could be nearing a short-term overbought condition.
The Moving Average Convergence Divergence (MACD) shows bullish momentum, as the MACD line is above the signal line, but it’s slightly converging. This could indicate waning bullish momentum in the short term.
However, as long as the histogram remains positive, the upward trend remains intact. Look for a crossover as a potential signal of a pullback.
ETH Price Prediction
According to the ETH/USD chart analysis, the Ethereum price is currently on a sustained bullish trend. A sustained trend, if the bulls capitalize on the positive MACD and RSI, could see the price of Ethereum soar over the channel, as the bulls target $4,000.
If the bears gain control of the token at this level, however, the Ethereum price could drop to the $3,347 level, within the 50 SMA and the lower boundary of the channel.
As the Ethereum price aims for a continued surge, some investors are turning to presale meme coins like the newly launched Flockerz (FLOCK) for more explosive upside potential.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Raises Over $3.6 Million In Blockbuster Presale, Closing In On The $4 Million Mark
Flockerz has reached a total of $3.6 million in its ICO as it continues its mission to put the power back in the hands of the crypto community.
Armed with the first-ever vote-to-earn (V2E) mechanism, propeller-beanie-wearing feathered friends are taking flight in the crypto stratosphere, driven by eager investors hungry for control over their meme coin holdings.
Even if everything's burning around you.
You're always okay when you're with the flock! pic.twitter.com/dDeu98Flob
— Flockerz (@FlockerzToken) November 19, 2024
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
To participate in the voting process, users must buy FLOCK tokens. When a new suggestion is presented, members of The Flock vote.
Apart from V2E rewards, users can earn passively through the platform’s staking mechanism, with a sky-high annual yield of 639%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.006175 each using BNB, ETH, or USDT.
You can also make a purchase using your bank card. Buy before a price hike in slightly more than a day to secure the best deal.
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