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The Ethereum price has pumped by 3.1% in the last 24 hours to trade at $2,236 as of 12:30 a.m. EST.
This comes as whales scoop up more Ethereum, with the last week seeing an enormous $230 million bought by such big ticket investors.
Some of the largest #Ethereum whales have been on a buying spree, scooping up over 100,000 $ETH in just the past week – that's a whopping $230 million! pic.twitter.com/jWHY6MXDgs
— Ali (@ali_charts) December 16, 2023
Ethereum Price Prediction
Looking at 3-hour ETH/USD charts, the Relative Strength Index indicator is moving north as it heads for the overbought region. This shows buying pressure on Ethereum as it looks to continue its pump in the short term.
The MACD indicator is also moving in the green zone, backing the prospects of a bullish short term.
The Ethereum price is volatile, as shown by the Bollinger Bands, which are moving far apart. This can be attributed to increasing trading activities that have seen ETH’s trading volume surge by 28% in the last 24 hours.
3-hour ETH/USD chart | Source: TradingView
Additionally, according to analyst Jake Wujastyk Ethereum has formed a Hammer candle print, which indicates a bullish trajectory for Ethereum.
#Ethereum Daily hammer candle print on the trend zone support. pic.twitter.com/lHe9FMQTmL
— Jake Wujastyk (@Jake__Wujastyk) December 19, 2023
Meanwhile, as the Ethereum pumps, Bitcoin Minetrix’s BTCMTX token presale is gathering momentum. The presale has so far raised over $5.5 million.
Ethereum Price Prediction: Is BTCMTX A Better Investment Right Now?
Bitcoin Minetrix introduces a groundbreaking mining method that could yield substantial gains upon listing. The project offers BTCMTX token holders access to cloud mining credits, establishing a passive income stream.
Utilizing an on-chain approach, Bitcoin Minetrix ensures efficiency, transparency, and fraud protection, setting it apart from conventional cloud mining practices.
Interested in #Bitcoin but not the technicalities?
Cloud mining's got your back! 💡
Saying goodbye to setup, maintenance, and noisy rigs. 🛠️
Plus, it's cost-efficient and saves space.
Perfect for newcomers exploring the world of #Crypto! 🚀#BitcoinMinetrix #CloudMining pic.twitter.com/7JQ36XUy74
— Bitcoinminetrix (@bitcoinminetrix) December 10, 2023
The project incorporates stake-to-mine smart contracts, empowering users with enhanced security and control over cloud credits, mining time, and allocation.
Boosting Network Hash Power For Enhanced Security
The user-friendly mining technique employed by Bitcoin Minetrix has the potential to significantly increase network hash power, thereby enhancing security and decentralization. The project aligns with Bitcoin’s original objective by providing opportunities for small-scale miners.
Renowned figures in the Bitcoin community, including Michael Wrubel and Jacob Crypto Bury, have endorsed Bitcoin Minetrix. This support has garnered attention within the cryptocurrency realm.
Bitcoin Minetrix stands out as a unique investment opportunity during the current cryptocurrency boom, boasting a creative cloud mining strategy, a capable team, and favorable market conditions.
Positioned for success, Bitcoin Minetrix may thrive amidst the expected price halving and the potential adoption of a Bitcoin ETF. The BTCMTX presale is gaining momentum as interest grows in its revolutionary mining approach.
With solid endorsements, a distinctive investment position, and a favorable market trend, BTCMTX has become a token to watch during this exciting phase of the cryptocurrency boom.
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