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The Ethereum price has experienced a 2.5% drop in the last 24 hours to trade at 2019 as of 9:28 a.m. EST.
Despite the drop, one analyst sees ETH outperforming Bitcoin through 2025.
According to Stockmoney Lizards, Ethereum shifted to a deflationary model after The Merge and triple halving in September 2022, a significant change in ETH’s supply since its launch in 2015.
This is why #Ethereum will outperform #Bitcoin till the end of 2025.
A thread by Stockmoney Lizazds🦎 pic.twitter.com/kpHrIc8zJa
— Stockmoney Lizards (@StockmoneyL) November 26, 2023
It pointed out that this deflationary aspect is a recent development.
With the current staking mechanism, more than 28.5 million ETH are staked and not accessible on the market, constituting around 24% of the total ETH, a proportion that is consistently growing. And reduced supply usually means a higher price.
Ethereum Price: Can the Bulls Overcome The $2150 Resistance?
Ethereum price has experienced a resurgence, rebounding from the 50-day Simple Moving Average (SMA), coinciding with the $1774 support surpassing the $1928 resistance level above the falling channel pattern.
The price has successfully exceeded the 50-day and 200-day simple moving averages, affirming the prevailing bullish sentiment and establishing short-term support.
Notwithstanding two tests, the $2150 level exhibits resilience as bears exploit it, resulting in a decline in the price.
The Relative Strength Index (RSI) trades downwards at 54, signifying substantial selling pressure. Nevertheless, robust retention of the neutral level at 50 could prompt buyers to interpret this as a signal to initiate additional positions, potentially catalyzing an upward movement in price.
The Ethereum price is exhibiting an overall bullish trend, with bulls positioned to exceed the resistance at 2150, generating the momentum necessary for further bullish movements, targeting a potential high of $2500 in the upcoming weeks.
Conversely, if bears capitalize on the correction following the resistance at $2150, there is a likelihood of driving the price down, potentially retracing to the support zone at $1928.
A breach below this level could intensify selling pressure, leading to a subsequent decline in price targeting the critical support level at $1774, aligning with the 50-day SMA.
Meanwhile, you may consider participating in the BTCMTX presale as an alternative way for capturing potentially lucrative gains.
BTCMTX Edging Toward Target
Bitcoin Minetrix (BTCMTX) is approaching its $5.28 million soft cap, having already secured $4.4 million in funding.
The project’s team has set a hard cap of $15 million, enabling investors to secure up to 77.5% of the total token supply.
@HIVEDigitalTech expands its global mining footprint with a new data center in Sweden, committed to green energy practices and boosting #Bitcoin production. 🌐#BitcoinMinetrix has also reached another phenomenal milestone, raising over $4,400,000! pic.twitter.com/IcCDlQn7kw
— Bitcoinminetrix (@bitcoinminetrix) November 27, 2023
Investors also have a chance to participate in the project’s Minedrop airdrop, featuring a total prize pool of $30,000. This offers 10 participants an exciting chance to win a $3,000 reward.
Furthermore, investors can generate passive income through the stake-to-mine program. By staking your BTCMTX tokens, you can access a substantial Annual Percentage Yield (APY) of 133%. Currently, approximately 312 million tokens are staked, resulting from mining 158.5 blocks per ETH. Stake now, as the APY is expected to decrease as more tokens get staked.
Exploring #BitcoinMinetrix! ⛏️
Revolutionizing decentralized $BTC mining, we're reshaping cloud mining using #BTCMTX #Tokens, ensuring utmost security and transparency.
Simplified like never before! 🌐🔒 pic.twitter.com/7viEwF044L
— Bitcoinminetrix (@bitcoinminetrix) November 27, 2023
The CryptoNews YouTube channel, boasting over 5,000 subscribers, has released a detailed guide on how to buy BTCMTX tokens and stake for profitable gains. It also explains all about the massive airdrop.
To acquire BTCMTX tokens, connect your digital wallet to the BTCMTX website. Once connected, you can purchase the tokens using ETH, USDT, BNB, or your bank card.
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