{"id":621113,"date":"2025-01-24T12:24:11","date_gmt":"2025-01-24T12:24:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=621113"},"modified":"2025-01-24T12:24:11","modified_gmt":"2025-01-24T12:24:11","slug":"ethereum-price-prediction-eth-pumps-6-as-traders-rush-to-buy-this-ico-in-a-last-minute-fomo-frenzy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ethereum-price-prediction-eth-pumps-6-as-traders-rush-to-buy-this-ico-in-a-last-minute-fomo-frenzy","title":{"rendered":"Ethereum Price Prediction: ETH Pumps 6% As Traders Rush To Buy This ICO In A Last-Minute FOMO Frenzy"},"content":{"rendered":"

The Ethereum price pumped over 6% in the last 24 hours to trade at $3,402.96 as of 6:24 a.m. EST as investors begin a rapid accumulation of the leading altcoin.<\/span><\/p>\n

The increase in the ETH price throughout the past day of trading coincided with a broader market rally, which saw the digital asset sector’s collective capitalization rise over 3% during the same period. <\/span><\/p>\n

Ethereum Price Breaks Resistance <\/span><\/h2>\n

\"BINANCE:ETHUSDT<\/p>\n

4-hour chart for ETH\/USDT (Source: TradingView)<\/span><\/p>\n

The Ethereum price <\/span>broke<\/span><\/a> above the resistance level at $3,357.52 in the last couple of hours. Should the leading altcoin’s price continue to climb, ETH might try to breach the $3,504.01 barrier next. <\/span><\/p>\n

On the other hand, a sudden pullback in the <\/span>Ethereum<\/span><\/a> price in the next few hours could mark the end of the altcoin’s bullish move. Traders might then try to realize their profits from the crypto’s recent pump before it’s too late, which could result in a wave of sell pressure. <\/span><\/p>\n

If the Ethereum price is unable to withstand the potential sell pressure, it could fall back below the recently-overcome $3,357.52 mark and possibly seek support from the $3,193.58 level. Continued sell pressure in an extremely bearish scenario might lead to a plunge to as low as $2,998.24 in the short term.<\/span><\/p>\n

4-Hour Technical Indicators Suggest The Ethereum Price Might Keep Climbing<\/span><\/h2>\n

From a technical perspective, indicators on ETH’s 4-hour chart suggest the crypto’s price might continue to rise through the course of the next trading day. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs.<\/span><\/p>\n

That’s after the MACD line crossed above the MACD Signal line in the last 24 hours to indicate that the <\/span>Ethereum<\/span><\/a> price has entered a positive trend. The gap between the two technical indicators has grown ever since, which might be seen as a sign of ETH’s bullish momentum picking up steam.<\/span><\/p>\n

Meanwhile, the RSI line crossed above its Simple Moving Average (SMA) line in the last 24 hours. This specific technical event is often interpreted as a signal that buyers have taken control of an asset. With the positive slope of the RSI line on the 4-hour chart, it seems bulls might keep driving ETH up higher in the next few hours.<\/span><\/p>\n

As ETH tries to keep climbing, a FOMO frenzy has erupted among investors as they rush to buy into the presale for new meme coin <\/span>Flockerz (FLOCK)<\/span><\/a> ahead of its launch in just over 3 days. <\/span><\/p>\n

This comes as 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, says FLOCK has the potential to soar 100X after its launch.<\/span><\/p>\n