Ethereum Trades Green Today While Evil Pepe Attracts More Investors

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Ethereum is one of the most popular crypto blockchains that house many other projects in diverse sectors, including DeFi, NFT, Memecoins, etc.

Its native coin, ETH, the second-largest crypto asset by market cap, is slightly bullish today, July 19. The daily price chart on Coinmarketcap shows some gains, which is surprising given that BTC is down today.

But the usual market volatility is prominent in ETH’s market, making its price fluctuate between $1913 and $1914. Given the general gloomy market outlook, investors wonder if ETH’s gains currently will kick-start a bullish trend.

ETH Price Changes in the Short and Long Term

At 10:14 EST, ETH shows a slight 1% gain, trading at $1907. Also, Coingecko’s data shows that the asset has gained 10% in 30 days and 22% in 1 year. Its price changes in the past 7 days show a slight gain while its 14 days show a slight decline, all below 1%.

ETH pumped after Ripple’s win against the United States SEC on July 13, 2023. As Judge Torres declared XRP a non-security, the crypto assets, and the global market recorded massive interest and gains.

But the bullish sentiment declined as many coins, including ETH, lost the bearish momentum. Meanwhile, ETH’s daily chart could hint at what investors should expect in the short and long term.

ETH Price Moves on daily Charts Indicate a bullish momentum

ETH is gaining today, forming a green candle after five consecutive red candles. ETH’s Moving Average Convergence/Divergence (MACD) is below its signal line, expressing the bearish sentiment previously on its price. Also, the red histogram bars confirm the bearish trend.

But the Relative Strength Index (RSI) value is 51.90 in the neutral zone between the overbought region of 70 and the oversold region of 30. However, the RSI is moving upward slightly, hinting at a bullish recovery.

Also, the asset is trading above its 50-day and 200-day Simple Moving Averages (SMA), bullish sentiment in the short and long term for the token.

So, while the red histogram bars indicate the previous bearish trend, the asset trading above its SMAs confirms today’s green trades. Also, the RSI moving upwards to the overbought region suggest the asset still has room to gain before a trend reversal occurs.

ETH Support And Resistance Levels

ETH is trading above the $1869.3 support level; the bulls at the $1830.6 price level sustained its recent rally till July 14, when the bears regained control.

ETH met stiff resistance at the $1956.4 price level leading to its current downtrend. However, it will likely rally if it closes today on a positive note.

A break above the $1956.4 resistance will return ETH to the $2006.7 resistance level. ETH will likely rally in the short term if the bulls prevail.

Other Crypto Experts Are Bullish on ETH’s Short and Long-Term Predictions

According to Coincodex crypto analysts, ETH currently holds a bullish outlook in the short term. The experts forecast a price gain of 5% before July end following the asset’s price moves in the last 30 days. The analysts found that ETH recorded 14 green days in the last 30 days.

As for the long-term ETH prediction in 2024, the analysts forecast a yearly low price of $1880 and a high price of $6335. By 2025, ETH is forecasted to hit a high of $7,554 and a low of $3812.

Other crypto experts at Bitnation suggest that the ETH price is on the pathway to a bullish trend. The analysts opine that this is not the best time to buy ETH. Instead, investors should wait for another bearish trend before investing.

Meanwhile, analysts forecast that by 2023 end, ETH price will record a high of $3421 and a low of $2281. As for ETH’s price growth in 2024, the prediction is a high of $5323, a low of $4182, and an average price of $4752.

Factors that Could Affect Ethereum Price Growth or Decline

Like other crypto assets in the market, ETH reacts to negative and positive events, macroeconomic activities, regulations, news, and investor sentiment.

For instance, ETH price touched $2,003 on July 13 following the announcement that Ripple won against the US SEC in the 3 year-long lawsuits.

While these factors affect the general crypto market, including ETH, network-specific developments could push Ethereum adoption and spike ETH demand and price. Some events could also cause a decline in ETH prices.

Recent Ethereum Network-Related Events

A Whale Moves a Large Number of Pre-mined ETH to Exchange

In a recent report, roughly $116 million worth of pre-mined ETH coin stash was moved abruptly, causing investors to wonder if a dip is imminent.

According to the report, these coins have been out of circulation for 8 years and gradually increased in value from $18,976 to their current market price today,

Also, the coins were stashed in a single wallet, but unexpectedly, the holder transferred all 61,216 ETH to a Kraken-linked address on July 18.

Usually, a transfer to an exchange could mean an intention to sell. This action can cause a decline if the amount unbalances the trading volume. This sudden move has raised speculations that ETH prices might dip.

But while the speculation remains, investors should note that sometimes transfers don’t mean an intent to sell immediately. The holder may decide to sell gradually, reducing the impact on the ETH market.

For now, the intention is uncertain. But an instant sell could trigger a bearish run for ETH and vice versa.

Recent Collaborations to Build on Ethereum Network

In another report, Nethermind and EigenLayer team plan to collaborate and build on Ethereum restaking capabilities. The two projects aim to drive restaking innovation on the network and others while maintaining security.

In a statement, Nethermind CEO Tomasz Stańczak disclosed that its company will “will help design and explore what is possible to build with restaking on Ethereum and other chains,”

While this move indicates growth, it still has some risk factors which the Ethereum founder revealed in a blog post.

Buterin said, “We should tread lightly when application-layer projects aim to extend the ‘scope’ of blockchain consensus beyond the validation of essential Ethereum protocol rules,”

Such projects that threaten the security of the Ethereum blockchain could reduce its credibility and push negative market sentiment.

But while the ETH price moves remain uncertain, investors could consider a new memecoin attracting early investors with profit-earning indications.

ETH Alternative Evil PEPE

The Evil Pepe Coin is the latest and unique meme token. It adopted the Pepe the Frog aesthetic, which made it well-known among traders. The Coin hopes to mimic the price behavior of other Pepe derivatives, including Pepe 2.0, Saudi Pepe, Proof of Pepe, and $PEPE itself.

Since Pepe token release on Uniswap, it has grown rapidly, hitting a market cap of nearly $2 billion on May 6 after CZ tweeted about its Binance listing.

After its correction and recovery, it still had a market cap of $600 million, proving that PEPE may last long in the industry. Pepe 2.0 grew immediately after Pepe’s success. Its market cap reached approximately $100 million, generating returns of nearly 45,000%.

Evil Pepe Coin intends to reach this market cap, resulting in a 50x increase in IDO.

Evil Pepe Coin Features

Roadmap

The Evil Pepe Coin roadmap proposes teaming up with well-known meme creators, forming partnerships with innovative individuals in the meme coin community, and expanding its Twitter followers.

DEX Liquidity Lock

Evil Pepe team has launched decentralized exchange (DEX) liquidity and locked it to avoid rug pull. After the token’s official launch on Uniswap, the remaining 10% of the Evil Pepe token supply will be locked as DEX liquidity for one month, providing streamlined trading conditions.

Coin price

All $EVILPEPE tokens will be made available during the presale at the same price of $0.000033, unlike many other presales with many stages and price rises. Also, there are no team tokens, which always worries about significant token losses from whales wanting to profit.

Evil Pepe Presale

On July 18, Evil Pepe Coin, the most recent meme coin to adopt the Pepe the Frog design, announced the beginning of its presale. The token sale for $EVILPEPE has a hard cap of $1,996,002 and a soft cap of 107,994.99 with one presale pricing stage of $0.000333.

It is an ERC-20 token and the whitepaper states that are 6,660,000,000 coins in total supply. Participants in the presale would gain almost 300 times more if EVILPEPEPE could match $PEPE’s current market cap.

Half of the top 10 trending cryptocurrencies on DEXTools are Pepe-related meme coins, which include a new contender, landwolf (WOLF).

How to Buy Evil Pepe Coin?

Users can purchase the $EVILPEPE token in its ongoing presale at an affordable price without DEX. You can buy $EVILPEPE by following this guideline.

Log into the official Evil Pepe Site, and connect your crypto wallet containing ETH with Trust Wallet or MetaMask. Utilize the widget on the presale and swap for $EVILPEPE tokens.
Also, users can purchase $EVILPEPE tokens using USDT. You should approve the utility of USDT in your wallet and pay the gas fee with ETH. Then, you can swap USDT for $EVILPEPE.
To ensure a fair launch, $EVILPEPE token claims will be accepted on the website simultaneously with the DEX listing.