Ethereum Has Outlived Its Usefulness. The Smart Money Is In This Crypto Coin

Updated: 06 June 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Ethereum (ETH) has been facing a downtrend recently, with its price declining by 3.01% within the last 24 hours and 4.53% over the past 7 days.

At the time of writing, ETH is trading at $1,816.22. The trading volume for ETH in the last 24 hours is $10,312,710,084, indicating a significant increase in market activity, up by 93.10% from the previous day.

With a circulating supply of 120 million ETH, Ethereum’s market capitalization stands at $218,105,859,869. It’s important to note that the highest price ever recorded for Ethereum was $4,878.26, which occurred on November 10, 2021, over a year ago. The price of ETH is approximately 62.80% lower than its all-time high.

Although Ethereum has experienced a decline of 4.50% in the last 7 days, it is performing relatively better than the global cryptocurrency market, which has decreased by 5.80%.

Ethereum Price Prediction – Ethereum Seeks Support at $1,775 Amidst Price Volatility

Ethereum’s price couldn’t overcome the $1,920 resistance and experienced a significant decline. The bears have pushed the price below the critical $1,840 support level. A bullish trend line around $1,900 is also broken. The price dropped over 4% and is approaching the $1,775 support level.

At the time of writing, the price is consolidating its losses and gradually recovering. However, it has surpassed the 23.6% Fibonacci retracement level from the $1,912 swing high to the $1,777 low. Ether is trading below $1,840 and the 50-day Exponential Moving Average. The immediate resistance level is around $1,840, corresponding to the 50% Fibonacci retracement level.

If Ethereum fails to clear the $1,840 resistance, it may experience further downward movement. The following support and resistance levels are identified:

Support Levels:

Initial support on the downside is near the $1,775 level.
The next major support is near the $1,740 zone.
A break below the $1,740 support could lead to a decline toward the $1,695 support.
Further losses may send the price toward the $1,660 level or even $1,640.

Resistance Level:

The significant resistance level is $1,850.

Technical Indicators:

Daily MACD: The MACD for ETH/USD is gaining momentum in the bearish zone.

Daily RSI: The RSI for ETH/USD is below the 50 level.

Based on the above analysis, our prediction for ETH is at $1,775 on the downside and the major resistance level at $1,850.

COPIUM Alternative for Ethereum

Despite the decline in Ethereum price, the smart money is betting on coins that promise high returns, and COPIUM is a good alternative. The price of COPIUM has declined again, giving investors an opportunity to buy the dip.

The accumulation phase of the Copium NFT Tank Airdrop has ended, and the winners have been announced.

Google doc with details:https://t.co/oLPSFdxZSn

— $COPIUM (@COPIUMDROP) June 4, 2023

The Copium community, closely knit and supportive of the project, actively promotes and advocates for its success. While the long-term success of the coin remains uncertain, many consider COPIUM to be a prominent altcoin worth investing in.

Moreover, investing in COPIUM presents an opportunity to maximize investment returns. If you have missed out on explosive coins like PEPE or SHIB in the pe, consider investing in COPIUM.

Currently, $COPIUM is trading at $$0.00094341 and aims to reclaim its all-time high while continuing to increase further. The price of $COPIUM has established a strong support level at $0.0009242 and is steadily climbing along an ascending trendline, showing no signs of reversal.

Based on the current trajectory, $COPIUM’s price suggests a potential surge soon. Those who wish to capitalize on this opportunity and aim for significant gains, possibly reaching 100x returns, should consider investing in $COPIUM rather than waiting for rumors and news to unfold.