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Ethereum Price Prediction: ETH Hit $3K For First Time In Almost Two Years On Ethereum ETF Optimism As Analysts Say This Electric Vehicle ICO Might Be The Best Crypto To Buy Now

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Ethereum ETF
Ethereum ETF

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The Ethereum price has dropped a fraction over the last 24 hours to trade for $2,915 as of 6:00 a.m. EST time.

Trading volume has soared almost 40% as ETH holders, hobbyists, and enthusiasts are buoyed by the Ethereum price bursting through the $3,000 milestone briefly, a level last tested on April 26, 2022.

Sentiment is boosted further by hopes that an Ether exchange-traded fund (ETF) investment product is likely to be launched soon.

Ethereum Price Prognosis Amid Spot ETH ETF Speculation

The Ethereum price suffered a rejection from the $3,000 psychological level on Tuesday, after recording an intra-day high of $3,033. Wednesday’s intra-day high is $3,017, but all signs point to a fall as ETH is overbought and ripe for selling. This is seen with the position of the Relative Strength Index (RSI) that has just crossed below the 70 threshold.

Traders heeding the sell signal could send the Ethereum price below the immediate support at $2,874. Below this level, Ether could spiral all the way to the midline of the channel at $2,689. In a dire case, the load-shedding exercise could send the Proof-of-Stake (PoS) token to the depths of $2,388, nearly 20% below current levels.

To confirm the continuation of the downtrend, however, the Ethereum price must drop into the supply zone turned bullish breaker between $2,059 and $2,118, and close below its midline at $2,087, otherwise termed mean threshold.

Ethereum

TradingView: ETH/USDT 1-day chart

Converse Case

On the other hand, if the bulls have their way, the Ethereum price could push north, reclaiming above the $3,000 psychological level. Such a move would clear the expanse for a continuation of the trend, bringing $3,500 into focus. In a highly bullish case, the gains could see Ether market value reach $4,000, roughly 36% above current levels.

While the market anticipates a possible spot Ethereum ETF, many investors are considering the TUK token, which features among the best crypto ICOs of 2024.

A Promising Alternative To Ethereum

TUK is the ticker for eTuktuk, the AI-integrated, eco-friendly future of transportation, which allows you to invest and earn right away.

The project provides entry into a sustainable transportation revolution with its green $TUK token presale that is committed to helping Tuk Tuk drivers in less developed countries in South Asia and Africa use less energy. It is also ranked among the best best penny cryptos for explosive potential in 2024.

eTukTuk recently moved into stage 12 with sales going above $1.278 million. With less than $100k till the next stage is reached, now is the time to buy into the project before the price increases.

As governments in Asia and Africa embark on ambitious electric vehicle adoption goals over the next two decades, eTukTuk could be well-positioned to play a crucial role in driving this transition.

Investors can also capitalize on eTukTuk’s staking mechanism, with an impressive 182% annual percentage yields (APY). Users will get 4.75 $TUK for each BSC block in $TUK Token incentives.

Visit and buy eTukTuk here.

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