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The Ethereum price dropped over 2% in the last 24 hours to trade at $2,742.59 as of 9:59 p.m. EST as investors decrease their exposure to the altcoin.
The recent pullback in the ETH price was a continuation of the crypto’s negative weekly streak. Ethereum is subsequently over 11% in the red on the 7-day time frame.
Ethereum Price Hovering Above The $2,683.55 Support
4-hour chart for ETH/USDT (Source: TradingView)
The Ethereum price is hovering above the key support at $2,683.55. Should it fall below this technical crutch, the leading altcoin might plunge to the subsequent mark at $2,411.54 in the short term.
However, traders identifying ETH’s current price as a long opportunity could mark the end of the crypto’s bearish move. In this more bullish scenario, the Ethereum price might attempt a challenge at the $2,929.23 resistance. Should it flip this level into support, ETH could end up rising to as high as $3,218.78 if the bullish pressure persists.
Technicals Suggest Bulls Might Push The Ethereum Price Higher
From a technical perspective, indicators on ETH’s 4-hour chart suggest buyers have the upper hand against sellers. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs.
That’s after a major bullish technical flag was triggered by the MACD in the last 24 hours, when the MACD line crossed above the MACD Signal line during this period to signal that ETH has entered a positive trend. Now, the gap between the two lines is starting to grow as well, which might be seen as an indication that the crypto’s bullish momentum is picking up steam.
Meanwhile, RSI readings have risen from deep oversold territory below 30 to just below 40, which suggests an increase in buyer strength. Additionally, the RSI crossed above its SImple Moving Average (SMA) line in the last 48 hours. Traders might see this as a confirmation of a bullish shift in strength on ETH’s 4-hour chart.
As the Ethereum price tries to stay above the $2,683.55 support, investors rush to buy a new PEPE derivative called Wall Street Pepe (WEPE), which is offering a last chance to buy during its presale phase.
ClayBro, a popular crypto analyst and YouTuber with over 134K subscribers, says he is bullish on WEPE and predicts the meme coin could surge 100X at launch.
Degen Traders And Analysts Unite To Take On Crypto Whales
Crypto whales have dominated the trading landscape over the years. These large investors and traders are known for keeping their next moves a secret, and often adjust their portfolios to the detriment of smaller unsuspecting retail traders. Wall Street Pepe, with its growing WEPE Army of degen traders and analysts, aims to bring an end to whales’ dominance once and for all.
To go face to face with crypto whales, members of the WEPE Army unite to identify profitable trade opportunities. Members of the group also share exclusive market insights and alpha trade calls with each other, enabling everyone who joins the WEPE Army to trade like a pro.
To become a member of this group, investors simply need to purchase WEPE tokens through the simple buy widget embedded on the project’s website. Selling for $0.0003665, WEPE can be bought with both crypto or bank card.
After acquiring some WEPE tokens, holders will just need to wait for the next trade opportunity to present itself in the market and get flagged by the WEPE Army. While investors wait for trade signals, they can put their WEPE tokens to work for passive crypto rewards. Anyone who buys and stakes WEPE now will unlock a 18% APY.
Wall Street Pepe Presale Raises Over $69.1 Million – Offers Last Chance To Buy Before Launch
Wall Street Pepe’s presale has been one of the best performing ICOs in recent months, and has already raised over $69.1 million in early-stage funding.
Now, the presale is offering investors one last chance to buy before launch, with the ICO scheduled to end in just over 11 days. Given the buying frenzy around WEPE at this early stage, there is the real possibility that the presale will sell out before then. Investors who want to get in on the ground level of the project will want to act fast to avoid missing out.
Buy WEPE tokens here before its presale sells out.
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