Ethereum Price Prediction: ETH Coin Pumps 3% To $2,280. Get In Now, Or Wait For The Dip?

Updated: 06 December 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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The Ethereum price has surged 3% in the last 24 hours to trade at $2,280 as of 4:30 am EST, as trading volume jumped 15% to $16 billion.

Despite experiencing a 12% price increase in the last 7 days, Ethereum is actually performing slightly worse than the broader global cryptocurrency market, which has seen a 13.1% increase.

So, should you get in now or wait for a dip?

Ethereum Price Rebounds On Rising Channel

Ethereum Price Chart Analysis. Source: Tradingview.com — ETHUSDT Chart Analysis. Source: Tradingview.com

Ethereum Price Prediction

Bullish forces continue to show resilience by driving the price upwards, aiming for a new peak despite facing resistance at the $2,150 level coinciding with the upper boundary of the rising channel

The price trades above the 50-day and 200-day simple moving averages, validating the existing bullish sentiment and establishing short-term support levels.

The Relative Strength Index (RSI) is on an upward trend, rebounding from the midline level of 50 to 74 above the overbought region of 70, signaling heightened buying pressure.

The Ethereum price is overly bullish, with expectations of sustained bullish momentum that could lead to additional upward movements targeting a potential high of $2,500.

However, bears may disrupt the bullish momentum to initiate a corrective phase, leading to a retreat to the support zone at $2,150. A breach below this level may intensify selling pressure, potentially resulting in a further descent toward the critical support level at the $1,928 support zone.

Investors may also consider presale tokens as a strategy to diversify their investment portfolios and take advantage of the potential for substantial returns. Meme Kombat in one such presale that also offers enticing opportunities through its staking feature.

Meme Kombat (MK) Surpasses $2.5M Mark Price To Increase In 29 Hours

The Meme Kombat presale project has already accumulated over $2.5 million out of a $3.5 million goal.

Watch the full video here:https://t.co/4EJWrgdhnE

— Meme Kombat (@Meme_Kombat) December 5, 2023

The MK tokens are available for purchase at an exclusive rate of $0.225.

Take advantage of the window before the price increases to $0.235 in the next stage.

Stake $MK Tokens, Get 333% APY

You also have the opportunity to stake the MK tokens you acquire. Thirty percent of the MK token supply is designated for staking and battle rewards. The project intends to offer rewards over an extended duration, with potential returns speculated to reach up to 10x.

The staking feature will continue post-launch, offering an alternative avenue for traders who may not wish to participate in battles but still want to grow their MK holdings.

📣 Major Update 📣

The Meme Kombat Staking Dashboard is officially live and ready to be used by you!

Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G

— Meme Kombat (@Meme_Kombat) November 9, 2023

When you stake your MK tokens, you can earn an annual percentage yield (APY) of 333%. Presently, $11.7 million in MK tokens are already staked, representing 72% of the total supply. Furthermore, 2.1 million tokens have already been distributed as rewards to early stakers.

Jacob Bury, a crypto analyst and YouTuber with over 24k subscribers expressed optimism about MK’s potential to deliver quick 10x returns in his recent video. He also reveals his investment in the project.