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The Ethereum price soared 13% in the last 24 hours to trade at $1,796.91 as of 12:03 a.m. EST on trading volume that skyrocketed 72% to $25.6 billion.
This comes as the newly appointed US Securities and Exchange Commission (SEC) Chairman, Paul Atkins, emphasized that his primary focus will be on establishing a robust regulatory framework for digital assets.
In the nomination hearing, Atkins testified that, “ambiguous and non-existent regulations for digital assets have created uncertainty in the market and inhibited innovation,” adding that “a top priority of his chairmanship will be to work with his fellow Commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.”
Atkins aims to address the evolving landscape of digital finance and ensure that regulations are in place to support innovation while safeguarding investors.
🇺🇸 NEW SEC CHAIR PAUL ATKINS JUST SAID #BITCOIN AND CRYPTO WILL BE HIS TOP PRIORITY 👀
NEXT 4 YEARS ARE GOING TO BE WILDpic.twitter.com/CGEmdR8Skx
— Vivek⚡️ (@Vivek4real_) April 22, 2025
The crypto space has since rebounded, surging 4% in the last 24 hours to a $3 trillion market capitalization, as Coingecko data shows, with BTC rising over $93K.
Can the price of Ethereum still soar?
Ethereum Price On A Breakout – Signals A 56% Surge
The ETH price has recently broken out of a well-defined falling channel pattern, a bullish reversal signal after a prolonged downtrend.
The Ethereum price has surged past the channel’s upper boundary, suggesting a potential shift in market sentiment from bearish to bullish.
Meanwhile, the 50-day Simple Moving Average (SMA) has been reclaimed as support, with ETH now trading slightly above it at $1,829.67.
This is an encouraging sign as it indicates short-term strength. However, the 200-day SMA looms above at $2,754.20, acting as a longer-term resistance, as GeckoTerminal data shows.
Moreover, the Relative Strength Index (RSI) is at 55.63, which is neutral but leaning bullish. This indicates that there’s room for further upside before ETH hits overbought levels.
The Moving Average Convergence Divergence (MACD) shows a bullish crossover with the MACD line rising above the signal line and the histogram turning positive, reinforcing the recent upward momentum.
Given the breakout from the falling channel and strengthening indicators, the Ethereum price appears poised for a potential move toward the 200-day SMA around $2,750. This target represents a possible 56% upside from current levels.
On the other hand, if the price of Ethereum undergoes a correction, $1,468 will likely act as the most probable cushion against downward pressure.
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTube channel 99Bitcoins, with over 725K subscribers, says is one of the tokens that has the potential to soar 10X after launch.
Best Wallet Presale Closing On The $12 Million Mark
Best Wallet is quickly positioning itself as a major player in the crypto wallet market, already raising over $11.8 million in its presale.
What sets it apart isn’t just the functionality of its wallet, but the ecosystem being built around it.
Designed as a multi-chain, non-custodial solution, Best Wallet allows users to fully own and control their crypto assets without depending on centralized intermediaries.
The wallet supports more than 60 blockchains and features a built-in DEX, presale aggregator, and crypto debit card.
Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space.
Tired of switching apps just to manage different tokens? 📱
A multi-chain wallet lets you hold Bitcoin, Ethereum, Base assets, and more — all in one place.
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Among the many features of Best Wallet, one is gaining outsized interest from investors. That is its “Upcoming Tokens” section, which helps users discover promising projects still in the early stages.
The project’s success in identifying promising cryptos is already well established. It flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered massive gains for early investors.
Investors can also stake BEST tokens for a huge 127% annual return. Currently, BEST tokens are priced at $0.024825.
Those interested should buy before a price hike in around 12 hours.
Check out BEST on its official website.
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Best Wallet - Diversify Your Crypto Portfolio
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