Join Our Telegram channel to stay up to date on breaking news coverage
The Ethereum price rose 3% in the past 24 hours to trade at $2,582 as of 3:58 a.m. EST, with trading volume soaring 28% to $13.8 billion.
This increase in the ETH price comes as Vitalik Buterin says that the Nordic region’s failed attempt at going fully cashless shows exactly the reason why Ethereum needs to be resilient.
According to Buterin, centralized digital payment systems are too fragile; “Cash turns out necessary as a backup. Ethereum needs to be resilient enough, and private enough, to be able to credibly play this kind of role.”
Vitalik was referring to how Sweden and Norway, the most cashless countries in the world, are now asking citizens to hold onto paper money.
With this, Buterin says it is proof that ETH has to go beyond just scaling. Ethereum has to be reliable when everything else is broken. Not reliant on governments, not dependent on centralized infrastructure.
Ethereum Price Gearing Up Towards A Bullish Breakout
The ETH price on the daily chart reveals a strong bullish recovery from a prior downtrend, marked by a rounded bottom pattern. This bottoming pattern indicates a transition from bearish to bullish sentiment and is often followed by significant upside moves.
The Ethereum price recently completed this rounded structure and has now broken into a previous supply zone just below the $2,700 mark, according to GeckoTerminal data.
Earlier in the chart, a death cross occurred where the 50-day Simple Moving Average (SMA) passed below the 200-day SMA, which is a bearish signal.
However, ETH price action since then has reversed course, breaking the downtrend line and establishing a new series of higher highs and higher lows, classic signals of an uptrend.
Currently, the price of ETH is consolidating within a resistance zone around $2,500.
Meanwhile, the Relative Strength Index (RSI) is currently at 65.32, just below the overbought threshold of 70. This suggests that buying pressure is strong but not yet overheated, allowing room for additional gains.
ETH Price Prediction
Looking ahead, if the ETH price breaks above the $2,700 resistance zone, bulls could target the $3,500 zone, a potential 32.14% surge.
Conversely, failure to clear $2,700 could result in a retest of the $2,000–$2,200 support zone, around the 50-day SMA.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Bury, a prominent YouTuber with over 56.6k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Racing Towards The $6.5 Million Mark
Behind a strong interest from smart money investors, the BTC Bull Token presale has raised over $6.3 million in short order.
The project is designed for investors who believe that Bitcoin will continue its long-term growth trajectory all the way to the $1 million mark.
The first of the airdrops will be when the Bitcoin price breaks $150K for the first time. Thereafter, every $50K increase will trigger another airdrop. The amount of BTC investors will receive with each airdrop will be determined by the duration and the amount of BTCBULL held.
Additionally, after every $50K increase in the BTC price, starting at $125K, the project will buy back and burn BTCBULL tokens.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 64% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00253 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in about 1 day to lock in the best presale rate.
Visit the BTC Bull Token website.
Related News:
- HYPE Surges 13%, But Investors Rush To Buy The $40M Solaxy Presale Before
- New Cryptocurrency Releases, Listings, & Presales Today – Apex AI, Quantum, Daolity
- PEPE Surges 8% In A Week, But Traders FOMO Buy This New AI Meme Coin Presale
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
