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The Ethereum price tumbled over 5% in the last 24 hours to trade at $1,908.41 as of 6:13 a.m. EST as investors dump their holdings in the altcoin leader on the market.
The drop in the ETH price comes as former Binance CEO Changpeng Zhao (CZ) dismissed reports that the largest crypto exchange by daily trading volume might delist Ethereum.
Whoever believes this deserves to be poor. 😂
— CZ 🔶 BNB (@cz_binance) March 28, 2025
Ethereum Price Falls Out Of A Bullish Channel
Daily chart for ETH/USD (Source: GeckoTerminal)
The Ethereum price dropped out of a short-term ascending channel in the last 48 hours after attempting a challenge at the $2,083.23 resistance, GeckoTerminal data shows. Now, the altcoin leader is testing the immediate support level at $1,923.08. Should ETH drop below this technical safety net, it could plunge all the way down to $1,762.94 this weekend.
In a more bullish scenario, traders could identify the current Ethereum price as a buy opportunity. This might result in another challenge at the aforementioned $2,083.23 barrier. While a rejection could be followed by another correction, a break above this resistance might give the Ethereum price the room needed to rise to as high as $2,268,08 in the short term.
Bears Have The Upper Hand, Might Push The Ethereum Price Down Further
From a technical perspective, bulls have a lot of work to do if they want to take back control from sellers. In addition to Exponential Moving Averages (EMAs) flashing bearish, the Relative Strength Index (RSI) on the daily chart shows that sellers are growing stronger against buyers.
That’s as the 9 and 20 EMA lines, key short-term momentum indicators, push the Ethereum price down to act as dynamic resistance levels. What’s more, the shorter EMA is positioned below the longer 20 EMA. Both the alignment of the two EMAs to each other and their positioning above ETH suggest the crypto is in a negative trend and might keep dropping.
Supporting the bearish outlook is the RSI value below the neutral 50 mark, which signals that sellers have the upper hand on the daily chart. Additionally, the negative slope of the RSI line warns that bears are still accumulating strength against bulls. If sellers choose to capitalize on this, they could have the power needed to overwhelm buyers and push ETH down further.
While the Ethereum price risks dropping further in the next few days, investors are FOMO buying a new meme coin called Meme Index (MEMEX) before its presale ends in just 3 days .
According to 99Bitcoins, an influential crypto YouTube channel with over 725K subscribers, MEMEX has the potential to be the next 100X crypto.
A New And Easier Way For Investors To Buy Into Meme Coins
A wave of new meme coins hit the market in the last few weeks as opportunistic developers tried to profit from the hype around these lighthearted tokens. With the current oversaturation, finding the next meme coin gem that could lead to life-changing gains has become a time-consuming process and a near-impossible task.
Meme Index, with its curated indexes of cryptos, aims to simplify meme coin investing. The project introduces 4 baskets: the Meme Titan Index, the Meme Moonshot Index, the Meme Midcap Index, and the Meme Frenzy Index.
Each of the project’s baskets feature different meme coins, and come with varying levels of risk. The relatively safer option is the Meme Titan Index that focuses on large-cap meme coins, while the high-risk Meme Frenzy Index contains highly-volatile emerging tokens with massive upside potential for investors willing to take on extreme risk.
By simply holding MEMEX, investors gain diversified meme coin exposure through Meme Index’s baskets. Additionally, MEMEX holders have the power to vote on which tokens should feature in each basket.
Meme Index Presale Offers Last Chance To Buy Before Launch – Just 3 Days Left
Meme Index has raised over $4.3 million through its ICO so far, signaling strong investor confidence in the project’s future. With the meme coin’s presale set to end in just over 3 days, time is running out for investors to get in on the project before its highly anticipated launch.
There’s still time. Buyers can acquire MEMEX for $0.0166883 apiece through the simple buy widget embedded on the project’s website using either ETH, USDT, BNB or bank card.
Once bought, the tokens can also be locked up in the project’s lucrative presale staking program for a massive 539% annual return.
Check out MEMEX on its official website.
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