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The price of ethereum ethereum“>leap more than 16% in the last 7 days to trade at $2,816.55 at 9:20 am EST as investors continue to buy the altcoin leader.
Analyst Michael van de Poppe told his 693,200 followers on .
“VanEck, ARK, Hashdex, BlackRock, Fidelity, Grayscale and Invesco filed their ethereum Spot ETF applications in Q4 2023,” he said. saying. “Franklin Templeton joined the race and filed for a Spot ethereum ETF. The rotation towards eth is closer than we think.”
ethereum price breaks another resistance level
Daily chart for eth/USDT (Source: TradingView)
He ethereum The price managed to break through the $2,685 resistance level in the last 24 hours. It is also trading in a positive price channel after recording a series of higher highs and higher lows over the past 2 weeks. If this positive momentum continues, the altcoin leader could soon challenge the $2,890 barrier. A daily candle close above this threshold could give eth the foundation needed to potentially rally as high as $3,140 in the coming days.
This bullish thesis may be invalidated if the ethereum the price breaks below the lower boundary of the current ascending price channel, which also converges with the $2,685 mark. In this alternative scenario, the cryptocurrency could be at risk of collapsing to $2,440 in the coming days. Continued selling pressure could even drag ethereum price as low as $2,295 in the near term.
ethereum Price: Technicals Look Bullish
Technical indicators in eth The daily chart suggests that ethereum price may continue to rise in the next 48 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence and Divergence Indicator (MACD) hint at a continuation of the altcoin's bullish trend in the near term.
The RSI line is separating above its simple moving average (SMA) line. Traders may see this as a sign that buyers are strengthening against sellers. As a result, the bulls may continue to push the price of the altcoin leader higher in the coming days. In addition to this, the MACD line is also breaking above the MACD signal line, which could indicate that eth's positive trend is still showing no signs of slowing down. If these technical signals are validated, the price of ethereum could surpass the $2,890 barrier in the next 48 hours.
While the price of ethereum seems to maintain its bullish movement, bitcoin Minetrix is about to surpass the 11 million dollar mark in its pre-sale. It's a project that could attract investors looking to diversify their holdings with higher-risk, higher-reward assets.
A passive income stream paid in btc
bitcoin Minetrix presents an innovative cloud mining platform that addresses the high barrier to entry and initial costs for anyone who wants to start mining. Through decentralization, the project also makes cloud mining of btc more secure.
Spot bitcoin #ETF are shaking up the market dynamics, acquiring bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin at a rate that exceeds mining production by 10 times! #WallStreet giants like @BlackRock and @Fidelity are driving this increase, fueling demand for $btc.
What do you think this means for the future of… pic.twitter.com/sXCwRLmmJA
—Bitcoinminetrix (@bitcoinminetrix) February 14, 2024
To get started, investors will need to purchase BTCMTX on the project's official website. The token currently sells for $0.0135 and can be purchased using Ether (eth), Tether (USDT), or a bank card. Investors will want to hurry as the price of the token will rise in less than 5 days.
Once purchased, investors will need to stake their tokens in exchange for “gas” reward tokens. This is part of bitcoin Minetrix's unique staking-to-mine mechanism, which allows investors to mine btc simply by staking their BTCMTX tokens. These gas rewards then need to be burned, allowing token holders to claim a stake in the cloud mining power of bitcoin Minetrix. As a result, investors will have access to a passive income opportunity that is paid in btc.
A potential 10x opportunity
Experts, including YouTuber Jacob Bury, say BTCMTX could grow 10-fold after its launch. This is mainly due to the introduction of spot bitcoin ETFs in the US and the upcoming halving event. These major developments are driving demand and tightening supply, providing a tailwind for the btc price.
This favorable context could trigger an increase in the price of btc, which in turn could boost bitcoin derivatives projects such as bitcoin Minetrix. Its focus on btc cloud mining increases BTCMTX's breakout potential as investors will likely flock to cloud mining solutions after the halving.
BTCMTX can be purchased here.
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