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The Ethereum price dropped 2% in the last 24 hours to trade at $2,446 as of 5:05 a.m. EST on trading volume that dropped 14% to $15.99 billion.
The decrease in the ETH price comes after Bit Digital raised $150 million in a public offering to buy Ethereum and accelerate its pivot away from Bitcoin mining and toward ETH staking.
Ethereum Price Prediction
Last weekend, Ethereum’s price dropped to just above $2,100, reaching a low of $2,131. However, come Monday, the price started to recover and it quickly climbed up to $2,500. This is a major resistance that has prevented the project’s price from rising further.
Regardless, Ethereum has continued to battle the resistance over the past four days, attempting to break through it and rise higher. Its efforts resulted in numerous small fluctuations, which also kept its Bollinger Bands consistently wide, but so far, the resistance is still firmly in place.
ETH/USDT chart analysis (TradingView)
The coin’s Relative Strength Index (RSI) value also saw quite a bit of movement as traders were quite active in the last few days. After reaching the value of 80 yesterday morning, the RSI dropped to the oversold zone. It spent a better portion of the day fluctuating between 30 and 50, but as the day progressed, the fluctuations moved between 40 and 65.
The last several hours have seen the RSI move up to range between 50 and 65, suggesting that traders are becoming more bullish and optimistic, while also remaining cautious. Most are likely waiting to see what will happen next before they join in.
Promising Alternative To Ethereum
With Ethereum currently stuck under $2,500, investors are buying Best Wallet (BEST) as one of the most promising alternatives. BEST is a native cryptocurrency of Best Wallet, a new crypto wallet that emerged in late 2024. Over the last six months or so, it has become one of the most popular wallets of this year, thanks to its suite of features and ease of use.
The wallet offers multi-chain support for over 60 blockchains, and it also supports the thousands of cryptocurrencies that run on those chains. It is non-custodial, lets users connect their other wallets to it and manage all of their funds from one place, and it has a native launchpad.
That launchpad has already rolled out a number of highly successful cryptos, such as MIND of Pepe (MIND), Catslap (SLAP), and most recently, Solaxy (SOLX). Each of them saw a major price surge after going live, which encouraged investors to join other ICOs on the launchpad, with BEST currently being one of the most popular options.
The token’s presale recently hit $13.58 million raised, and it is still ongoing, offering investors a chance to join. After it goes live, experts like ClayBro, a crypto YouTuber with over 136k subscribers, believe it could soar 10x.
If you wish to join others who bought BEST for only $0.025245, now is the time to do it, before its price undergoes a presale hike in around 32 hours.
Related Articles:
- SEC Says Some Staking Does Not Violate Securities Law
- Ethereum Price Prediction for Today, May 30
- 3 Reasons Why MIND Of Pepe Could Explode Like $PEPE
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