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The Ethereum price surged almost 3% in the last 24 hours to trade at $2,665 as of 03:38 a.m. EST on trading volume that edged up 1% to $21.46 billion.
This comes as Consensys, founded by Ethereum co-creator Joseph Lubin, trimmed its workforce by 20% amid persistent macroeconomic pressures and regulatory challenges.
Ethereum Price Still On Track For A Bullish Trend Reversal
According to GeckoTerminal, the Ethereum price slumped in July, as ETH dropped from the $3,538 resistance to the $2,200 support zone. The ETH price bulls then took advantage of the support to push Ethereum through an ascending triangle pattern.
ETH has finally crossed the 50-day Simple Moving Average (SMA), with the surge moving closer to the 200-day SMA at $2,979.
Moreover, the Relative Strength Index (RSI) seems to be rebounding from the 50-midline level, currently at 58, which is a sign that buyers may be exerting pressure on the token.
If the bulls capitalize on the ascending triangle and the increasing pressure by the RSI, the Ethereum price could surge, as they target $3,250.
If the bears take control of the price at this level, though, the price of Ethereum could plunge to the $2,327 support zone.
Meanwhile, investors looking for diversification opportunities may want to consider Crypto All-Stars (STARS), an innovative new ICO that has raised over $2.8 million.
According to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, $STARS has the potential to soar 10X after its launch.
Crypto All-Stars Raises Over $2.8 Million – Best Crypto To Buy Now?
Crypto All-Stars is a platform that enables investors to stake top meme coins on a single platform for the first time via its breakthrough MemeVault protocol, earning rewards in STARS.
What Is Crypto All-Stars?
Crypto All-Stars is set to revolutionize the meme coin sector with its innovative ‘Meme Vault’ platform. 💥
This is more than just another meme coin – it's an entirely new way to interact with the meme coin ecosystem!
— web3telepath (@web3telepath) August 15, 2024
By integrating a range of meme coins, MemeVault addresses the fragmentation in the meme coin ecosystem, simplifying the staking process and increasing liquidity.
Currently, Crypto All-Stars supports 11 meme coins: Dogecoin, Shiba Inu, Pepe, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk, with plans to add more in the coming months.
Investors can also earn passively through the project’s native staking mechanism, which offers a stunning 540% annual percentage yield (APY) on staked STARS tokens.
You can buy STARS tokens now for $0.0015309. But the price will increase in less than 19 hours, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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