Ethereum Price Prediction: ETH Stabilizes at $1,700

Join Our Telegram channel to stay up to date on breaking news coverage

The price of Ethereum dropped about 1% during the past day, and it’s now at $1701. The trading volume in the last 24 hours decreased by more than 60%.

The ETH price increased by 1.50% in the past week but has decreased by over 8% in the last month. These gains became smaller because the entire market had lost value recently.

Ethereum’s indicators show it might be close to the lowest point of its recent drop. The RSI-14 indicator stayed around 30 after dropping to 20 last week.

Also, ETH’s average price over the past 50 days is about to go lower than its average price over the past 100 days. This often suggests more losses might be coming.

Ethereum Price Prediction: ETH Stabilizes at $1,700 – Is This the New Floor? — Source: TradingView Daily Chart

Even if there are some losses in the coming days, they might not be significant. Ethereum’s price increased slightly from a level that doesn’t usually drop much. A recovery could happen soon, especially considering Ethereum’s strong foundation.

Exciting things are ahead for ETH in the next few weeks with the launch of its new Holesky testnet. If this goes well, it could boost the Price of ETH for some time.

The testnet won’t directly improve Ethereum, but preparing for future changes is essential.

One of these changes is the upcoming Cancun-Deneb upgrade that many are anticipating. This will open the door for Proto-Dank Sharding, benefiting Ethereum‘s specific networks known as layer-two rollups. These changes will make these networks faster and transactions cheaper.

This advancement will help ETH grow into a more extensive network capable of handling more tasks simultaneously. This reinforces its position as a leading platform for smart contracts in the crypto world.

Ethereum holds over half of the money in decentralized finance (DeFi). It’s also gaining popularity, like how PayPal plans to use its digital currency on Ethereum.

With these positive factors, we might witness ETH’s price climbing back to around $1,750 to $1,830 in the upcoming weeks.

Ethereum (ETH) Statistics:

Today’s Price – $1701
Market Cap – $204.51 Billion
Circulating Supply – 120,215,701 ETH
Total Supply: – 120,215,701 ETH
Coinmarketcap ranking – 2

Promising Alternative to Ethereum (ETH)

The altcoin season seems ready to start, and the new meme coin, Sonik Coin, has impressed by raising nearly $830,000 from eager investors.

Altcoin prices rose after Grayscale won its case against the US Securities and Exchange Commission.

Meme coins are still highly traded within the crypto market, and Sonik aims to be the latest popular addition.

The $SONIK meme coin takes inspiration from a Japanese gaming character and embraces the humorous style often seen in meme coins. Its fun graphics and artwork, displayed on its website, will likely attract attention.

$SONIK has raised $830,000 in funding, and the pace of interest is increasing as the presale’s end draws near in five days and five hours.

$SONIK Meme Coin: Earn While You Hold with Stake-to-Earn Feature

Sonik Coin is gaining momentum thanks to a unique feature not commonly found in meme coins – the ability to stake tokens and earn passive income.

Presale contributors have staked 26.3 billion tokens, earning an impressive annual percentage yield of 91%.

Sonik Coin plans to sell 50% of its total supply of 299,792,458,000 tokens in the presale, aiming to raise nearly $2.1 million.

With its potential to go viral and its ability to yield returns, the token has a chance to become one of the leading meme coins. As stated on its website, Sonik Coin aims to become the fastest meme coin to achieve a market cap of $100 million.

Participation in the presale is gaining momentum as the token strives to raise just under $2.1 million.

Locked Liquidity and Strong Marketing are Expected to Boost Sonik Coin’s Value

The project has set aside 10% of its tokens for decentralized exchange (DEX) liquidity, ensuring smooth and efficient trades.

An important point to note is that the project plans to lock liquidity on Uniswap. This move guarantees that contributors to the presale won’t have to worry about rug pulls from malicious actors.

The marketing team’s efforts are yielding positive results. Some well-known crypto news websites have covered Sonik Coin, including CryptoPotato, Findbold, and Captain Altcoin. Prominent financial site FXStreet also recognizes Sonik Coin as a cryptocurrency to watch.

On social media, the Twitter following has grown by 50% in the last five days, reaching over 1,462 followers, and the Telegram channel has nearly doubled its subscriber base to over 2,183 members.

Life is good when you got $SONIK #Presale ending soon! 💨
👉 https://t.co/s1fTdXDQCK pic.twitter.com/lKuT3KbQ4Z

— SONIK COIN (@Sonikcoin) August 30, 2023

Numerous influential figures in the crypto space are endorsing the coin. CryptoGains, a YouTube channel with 107k subscribers, predicts Sonik Coin could achieve a 20x launch.

Michael Wrubel, a prominent crypto YouTuber with over 300,000 subscribers, has labeled the token his “next $1,000,000 meme crypto.” Additionally, GoUp sees Sonik Coin as a potential 100x project, while another analyst considers it a 10x coin.

As Sonik Coin raises more funds, expect an increased marketing push, with more Twitter influencers, YouTube influencers, and crypto communities promoting the coin.

You can purchase $SONIK by connecting your Web3 wallet to the official project website. Through the Ethereum network, you can buy the coin using $ETH or $USDT.

It’s essential to clarify that Sonik Coin has no affiliations with Sonic The Hedgehog, SEGA, or any related undertakings. It stands as a separate and independent meme coin.

Most Searched Crypto Launch - Pepe Unchained

Rating