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The Ethereum price surged 4% in the last 24 hours to trade at $2,288 as of 4:00 a.m. EST on trading volume that dropped 27% to $20.99 billion.
While the ETH price surge came amid a broader crypto market rebound, it was likely aided by recent reports that the Trump Family’s World Liberty Financial purchased 4,468 ETH totaling $10 million. They also bought 110.6 Wrapped Bitcoin (WBTC), which is another $10 million, and 3.42 million Movement (MOVE) tokens for around $1.5 million.
The purchases took place on Wednesday, only a few days prior to the White House Crypto Summit, where the president is to meet with multiple high-profile tech and crypto founders, investors, and other major industry names.
Ethereum Price Prediction
Ethereum’s price surge brought the industry’s second-largest crypto to a resistance at $2.3k, but the coin failed to breach it. The coin’s Bollinger Bands have been relatively consistent, seeing a slight widening while the price was going up, as the coin’s value kept pushing the upper band further up.
However, after reaching the resistance and being rejected, the price dropped to the lower band, which could be a bearish signal. Even so, with the upcoming crypto summit, traders and investors could move in to buy the dip soon, allowing Ethereum to re-test the resistance at $2.3k.
The coin’s Relative Strength Index (RSI) shows that the buying power has been growing in the last 24 hours, going from the oversold zone to the edge of the overbought zone. However, after it spent hours at the value of 70, the RSI suddenly started declining, indicating that the traders decided to sell and take profit.
Right now, the ETH RSI has returned to the value of 50, where the decline stopped. If the traders are optimistic enough, they might start buying again now, pushing the RSI back toward the overbought zone, which could also mean that the price might return to the resistance and try to breach it for the second time today.
Promising Alternative To Ethereum
While Ethereum’s price still has room to grow, investors seem to be more interested in Bitcoin’s new official meme coin, BTC Bull Token (BTCBULL).
This is a new meme coin, currently still in presale, whose goal is to help Bitcoin’s price soar and reach new records. Bitcoin Bull Token believes that BTC has the potential to reach $1 million per coin, and even go beyond that. Of course, this will be a long process that is expected to last for years, but the project has established a series of milestones as encouragement and will reward supporters.
Specifically, whenever the Bitcoin price hits certain milestones, including $150k per coin, $200k, $250k, and so on, BTC Bull Token will organize airdrops where its token holders will receive free Bitcoin.
Along the way, it will also organize token burns whenever Bitcoin’s price grows by $25k, starting from $125k, removing portions of BTCBULL from circulation, and creating scarcity that could have a positive impact on its price.
So far, its ICO managed to raise over $3.26 million, while the BTCBULL token currently sells for only $0.002395 apiece. According to ClayBro, a crypto YouTuber with over 136k subscribers, Trump’s involvement with the crypto industry and both recent and future moves could have a significant impact on crypto prices, potentially boosting Bitcoin, and causing BTCBULL to conduct its airdrops in the following weeks or months.
There is also a presale price hike that will happen in just over 21 hours, so investors that want to lock in the best rate will want to act fast.
Visit the BTC Bull Token website.
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