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Ethereum Price Drops Below $13k – Is ETH Still the King?

Ethereum Price Drops below $13k
Ethereum Price Drops below $13k

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In recent weeks, the constant downfall and fanatic selling of many investors have reduced several cryptocurrencies to a biting pet for many.

Ethereum (ETH) – the second-biggest cryptocurrency is facing the same trajectory. After showing early signs of a rally, the Ethereum price has dropped below

According to the CoinMarketCap website, the price of Ethereum is currently $1282.97, and its 24-hour trading volume is $ $17,900,900,213.

Ethereum has decreased 7.14% during the past 24 hours. With a current market cap of $157,455,748,948, CoinMarketCap is ranked number two.

Info about the maximum supply isn’t available yet, and a total of 12,25,50,667 ETH coins are in circulation.

Ethereum Aspired to Higher Price

Over $1,260 was the support base that Ethereum was able to build. Like bitcoin, ETH grew steadily after crossing the $1,300 threshold.

In order to enter the positive territory, the price passed through the $1,330 and $1,350 resistance levels.

Additionally, a significant negative trend line with resistance around $1,342 was broken above on the ETH/USD hourly chart.

The pair is trading above this level as the negative trend from the swing high of $1,419 to the low of $1,219 on March 1 has now been retraced by 76.4% Fib.

The well-known cryptocurrency ether is currently trading above both $1,350 and the 100 hourly simple moving average. The price ran into the barrier between $1,395 and $1,400 on the upside.

$1,420 represented the next important barrier. A clear break over $1,420 might signify the beginning of a strong climb over the $1,465 level.

The decrease from the swing high of $1,419 to the low of $1,219 is near the 1.236 Fib extension level.

Any more gains would open the door for a move in the direction of the $1,500 level, following which the bulls might attempt to reach $1,580 in the upcoming sessions. However, as it turns out, these predictions didn’t pan out much because the ETH price punched below the resistance.

ETH Starts a Negative Trend

Ethereum started a negative trend if it is unable to pass the $1,400 barrier level. An initial support level on the downside was at $1,350.

The 100 hourly simple moving average and $1,320 serve as the next critical support. The price may decline if there is a downward break beneath $1,320.

The 100 hourly simple moving average and $1,320 serve as the next critical support. A break below $1,320 might cause the price to move closer to the $1,250 support in the near term.

The cost dropped to $1,200 if there are any more losses.

Cryptocurrencies like Ethereum (ETH) are searching for novel strategies to succeed and stay relevant in the cryptocurrency industry despite unfavorable market conditions.

As a result, enthusiasts will take tremendous measures to get and maintain rare coins.

The current bear market is a fantastic opportunity to buy cryptos, including the brand-new Tamadoge, at the lowest feasible price, given that most cryptocurrencies are declining.

Tamadoge

Tamadoge was recently listed as one of the top 10 most promising meme tokens by the popular cryptocurrency tracking Twitter handle @CryptoInsightsX.

Popular names like Hamster Coin, RichQuack, Vita Inu, Pitbull, and several others also made it to the list.

With its grand launch on a centralized exchange, OKX could see early-bird investors witnessing their investments explode.

Tamadoge Successfully Lands on OKX

After launching on the well-known OKX platform, Tamadoge has entered the global cryptocurrency market for the first time.

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Less than five hours after its launch, the TAMA currency has already seen $4.52 million in transaction activity.

This indicates that several investors going all in for TAMA are conscious of its worth and the possibilities of future growth of cryptocurrency.

The early trading performance of Tamadoge illustrates a broad pattern that analysts believe will shape the project’s destiny.

For instance, CNBC offers a positive view for the TAMA cryptocurrency. The value of the digital asset might climb by 10x or 50x in the upcoming months, claims the reputable media site.

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The Future

It hasn’t always been easy to spot the diamonds before the window of opportunity closes. Still, the cryptocurrency giant below ought to spark any investor’s curiosity for both short- and long-term profits.

Investors are interested in Tamadoge because of its plans for the future, despite the fact that the listing and notable mentions are undoubtedly attractive.

The year 2023 is expected to be a turning point for the project since the development team will start that year by looking at metaverse integration.

The company then plans to publish more arcade games with a Tamadoge theme in Q3 2023, with the much-awaited augmented reality app coming in Q4 2023.

Chief game developer Thomas Seabrook, who has a wealth of expertise in game design and has previously worked with StarDigital, SketchJam, Voodoo, and WMS, is in charge of overseeing the development of these features.

More businesses are entering the fast-growing metaverse industry. According to an ecosystem study, the sector for virtual, mixed, and artificial reality may grow at a CAGR of 39.4% between 2022 and 2030.

Given its stronghold in this market area and the strong forecast for market development, TAMA is well-positioned for significant growth.

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