Ethereum Price Tumbles As This Crypto Wallet Nears $2 Million

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The Ethereum price has slumped 3% in the last 24 hours to trade at $3602 as of 8:50 a.m. EST on a 54% jump in trading volume to $41 billion.

Despite the plunge in the ETH price, analysts at research and brokerage firm Bernstein say that staking yields for spot Ethereum ETFs (exchange-traded funds) in the US are likely to be approved by the incoming administration of Donald Trump.

Bernstein analysts are bullish on Ethereum's potential, with staking yields for spot ETFs possibly getting approved under the crypto-friendly "Trump 2.0" SEC. Despite a rough year, $ETH's strong fundamentals and rising blockchain activity could fuel a major rally. Are we…

— Aiura (@Aiura_AI) December 2, 2024

The Securities and Exchange Commission denied staking yields from being offered by Ethereum ETFs it approved earlier this year.

“Under a new, crypto-friendly Trump 2.0 SEC, ETH staking yields will likely be approved,” Bernstein said.

Ethereum Price Gears Up For Another Bullish Rally

The Ethereum (ETH/USD) daily chart shows the current price at $3,612, with a recent pullback of -2.64%, shown by a bearish close in the latest candle.

A major support level lies between $2,200 and $2,300, which displays a strong base for the bullish reversal. This reversal indicates momentum around $2,950, where the price started forming higher highs and higher lows, signaling a bullish trend.

ETHUSD Analysis Source: Tradingview

The 50-day Moving Average (MA50) is currently at $2,989, while the 200-day Moving Average (MA200) is at $2,948. A potential golden cross, where the MA50 crosses above the MA200, is forming and could signal a strong continuation of the uptrend.

The Relative Strength Index (RSI) stands at 65.19, indicating strong bullish momentum while nearing the overbought territory. With the RSI line above the signal line, the bullish sentiment remains intact. Key resistance is at $3,700, while immediate support is around $3,400, aligning with the breakout level and the 50-day Moving Average (MA50). The price action reflects a bullish trend, though Ethereum price may experience short-term pullbacks.

Ethereum Price Prediction

For long positions, traders could consider entering on dips near $3,400 or after confirmation of a breakout above $3,700, with stop-loss levels below $3,300 or $2,950, depending on risk tolerance. Profit targets could be set at $3,800 and $4,000.

A bearish divergence on the RSI or a drop below the MA200 would indicate weakening momentum and a potential trend reversal. If bearish reversal patterns emerge, traders might short near $3,700, with a stop-loss above $3,800 and targets at $3,400 and $3,000.

Best Wallet Presale Nears $2 Million

As the Ethereum price readies for another leg up, some investors seeking the next major crypto opportunity are turning their attention to Best Wallet (BEST), a leading non-custodial Web3 crypto wallet currently making waves with its presale, which is rapidly approaching $2 million.

💥 Over $1.5M Raised in the $BEST Presale! 💥

The $BEST presale is on fire, and we’re closing in on the next stage. This is your chance to stack $BEST at the current price!🚀

Unlock rewards, access early-stage presales, and manage your tokens seamlessly with Best Wallet. 💎… pic.twitter.com/6437z0C5RM

— Best Wallet (@BestWalletHQ) November 29, 2024

Best Token is here to simplify the management of digital assets for its users. At its heart is the Best Wallet app, a hub for overseeing and growing crypto investments.

Enhancing this ecosystem is the Best DEX (Decentralized Exchange) for seamless trading and the upcoming Best Card, designed for effortless crypto spending.

But it’s more than a conventional crypto wallet. The platform’s Upcoming Tokens tool also provides early access to high-potential presales. One such project, Pepe Unchained ($PEPU), has already secured over $64.6 million during its presale phase, with only 10 days left before heads for exchange listings.

Additionally, the app offers access to decentralized exchanges and cross-chain bridges, ensuring competitive rates for token swaps.

Users converting crypto to fiat benefit from support for over 100 currencies, including USD, EUR, and GBP, facilitated by trusted partners like Alchemy Pay and MoonPay. This ensures a quick and hassle-free process.

Best Wallet Family, are you using the Upcoming Tokens feature yet? 👀

It’s the easiest way to buy, track, and trade your presale tokens in one app. All the tools you need, right where you need them. ⚔️

Download now! 📲 https://t.co/AALEwrMCmn pic.twitter.com/ZXu3xC1zqz

— Best Wallet (@BestWalletHQ) November 29, 2024

Best Wallet users also enjoy a range of perks, including reduced fees, early access to promising projects, boosted staking rewards, and regular airdrops.

Right now, investors can buy $BEST tokens for $0.0229. Interested investors should buy before a price hike in less than 2 days.

To join, download the Best Wallet app, use the Upcoming Tokens tool, and secure your $BEST tokens.