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The Ethereum price dropped 2% in the last 24 hours to trade at $1,583 as of 3:10 a.m. EST on trading volume that plunged 38% to $8.1 billion.
The decline in the ETH price has created a cautious atmosphere in the market, which has prompted statements from Tron founder, Justin Sun.
Sun announced that Tron has no intention of selling their ETH assets and will continue to maintain the current portfolio strategy.
ETH is currently at a low price, but we have no intention of selling our ETH holdings. Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together.
— H.E. Justin Sun 🍌 (@justinsuntron) April 17, 2025
Furthermore, Sun revealed plans to foster closer collaborations with Ethereum developers, emphasizing a long-term confidence in Ethereum within the crypto space.
Ethereum Price Aims For A Bullish Breakout
The ETH price navigates a pronounced downtrend, encapsulated within a falling channel pattern. This descending channel has confined the Ethereum price action since late December 2024, demonstrating a series of lower highs and lower lows, a classic hallmark of a bearish market structure.
However, the most recent price action of ETH suggests a potential breakout attempt as ETH flirts with this channel’s upper resistance.
The falling channel can often precede a bullish reversal when a breakout occurs, mainly when volume and indicator confirmations are supported.
ETH is currently trading below both the 50-day Simple Moving Average (SMA) ($1,888.38) and the 200-day SMA ($2,772.62), which reinforces the existing bearish sentiment.
The Relative Strength Index (RSI) is at 39.75, hovering just below the neutral 50 line and nearing oversold territory (below 30). This positioning indicates that bearish momentum has been dominant but may be waning.
Meanwhile, the Moving Average Convergence Divergence (MACD) line (blue) has recently crossed above the signal line (orange), forming a bullish crossover. This is an early signal of potential momentum reversal to the upside.
ETH Price Prediction – Breakout Signals A 72% Surge
Given the confluence of factors, the potential breakout from a falling channel, the bullish MACD crossover, and the RSI beginning to tilt upward, the Ethereum price may be poised for a short-to mid-term rally.
Should the breakout from the falling channel be confirmed, the price of ETH could target the 200-day SMA at around $2,772, marking a potential gain of approximately 72% from the current level at nearly $1,583.
On the flipside, if the bears take control of the asset, the price of ETH could drop to the $1,250 level, acting as a cushion against downward pressure.
Meanwhile, crypto investors are turning to BTC Bull Token (BTCBULL), a promising Bitcoin-themed meme coin.
YouTube channel 99Bitcoins, which boasts over 725K subscribers, predicts 10X gains for BTCBULL holders after the token launches.
BTC Bull Token Presale Racing Towards The $5 Million Milestone
BTC Bull Token is a one-of-a-kind project that enables its holders to earn real Bitcoin rewards without investing directly in BTC.
The project’s presale has already raised over $4.76 million, signaling rising interest amid a volatile market.
BTCBULL holders will receive free Bitcoin when BTC crosses $150K and again at $200K. These events are designed to reward loyal supporters directly during high-momentum market phases.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
Perhaps the most anticipated event of all is that when Bitcoin reaches $250,000, the project will conduct a monumental airdrop, distributing 10% of the entire 21 billion token supply to early supporters.
In addition to BTC airdrops, the team will also carry out token burns, permanently removing a portion of the total supply. The aim is to follow Bitcoin’s footsteps and increase scarcity and value.
Bitcoin Bull token holders can also earn passively by staking their tokens for an 86% annual percentage yield (APY).
Investors that want to participate in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.002465 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in about 1 hour to secure the best deal.
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