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Despite ethereum's recent 4.32% drop, eTukTuk green ICO reaches $1.7 million in pre-sale and experts predict significant returns.
ethereum is down 4.32% today despite hitting highs of $3,800 yesterday. However, the new eTukTuk ICO is advancing its pre-sale as it surpasses $1.7 million.
eth Price Falls But Bulls Fight Back
ethereum enjoyed notable demand over the past week, rising from $3.2k to $3.8k yesterday. However, a decisive sell-off pushed it to lows of $3,300, just north of its price last week.
The move was sparked by a surge of leveraged long positions in ethereum and mirrored price action across the market.
According to CoinGlass eth” target=”_blank” rel=”noopener”>data, $199 million of eth has been liquidated in the last 24 hours. However, its open interest has increased by 3.66%.
In comparison, open interest for other major cryptocurrencies has declined. For example, Solana and Dogecoin are down more than 16%, while bitcoin is down 0.34%.
<img decoding="async" width="624" height="139" src="https://technicalterrence.com/wp-content/uploads/2024/03/Ethereum-Growth-Falls-as-Traders-Seek-New-Green-Cryptocurrencies.png" alt="ethereum Growth Falls as Traders Eye New Green Cryptocurrency – 1″/>
Optimism is also evident in market predictions, with CrediBull crypto speculating that eth is likely to outperform bitcoin in the coming weeks.
“It is not surprising that eth could outperform btc, at least in the short term. For now, I think we have the makings of a local bottom in eth/btc, and I'm looking for at least a 10% bullish move here as btc consolidates at highs,” he wrote.
The analyst then showed a price chart showing eth establishing solid support against btc, with a noted trajectory showing an uptrend.
<img loading="lazy" decoding="async" width="624" height="313" src="https://technicalterrence.com/wp-content/uploads/2024/03/1709835049_461_Ethereum-Growth-Falls-as-Traders-Seek-New-Green-Cryptocurrencies.png" alt="ethereum Growth Falls as Traders Eye New Green Cryptocurrency – 2″/>
Similarly, Mathew Hyland believe that eth will outperform btc, signaling the possibility of ethereum spot ETFs adding significant price appreciation potential.
Next to the eth/btc price chart, Mathew explained: “eth/btc has maintained this range despite the btc ETF being approved, btc having its largest monthly candle to date, and btc surpassing ATHs.”
He continued: “There are 79 days left until the eth ETFs are released. “Every day that passes becomes more favorable for a bullish breakout and less favorable for a bearish breakout.”
<img loading="lazy" decoding="async" width="624" height="708" src="https://technicalterrence.com/wp-content/uploads/2024/03/1709835049_604_Ethereum-Growth-Falls-as-Traders-Seek-New-Green-Cryptocurrencies.png" alt="ethereum Growth Falls as Traders Eye New Green Cryptocurrency – 3″/>
Meanwhile, Rekt Capital anticipates Altcoins will take over after bitcoin's all-time high, referring to an “altcoin hype cycle.”
The analyst says this will occur in four waves throughout 2024, with each wave becoming “more impressive as the bull market progresses.”
<img loading="lazy" decoding="async" width="624" height="368" src="https://technicalterrence.com/wp-content/uploads/2024/03/1709835049_109_Ethereum-Growth-Falls-as-Traders-Seek-New-Green-Cryptocurrencies.png" alt="ethereum Growth Falls as Traders Eye New Green Cryptocurrency – 4″/>
ethereum is the leading altcoin by market capitalization and has significant growth potential. However, Rekt Capital's altcoin hype cycle theory would also greatly benefit newer, lower market cap altcoins.
eTukTuk Green ICO Raises $1.7 Million
Pre-sale green cryptocurrency crypto-news.care/?referrer=ethereum-price-growth-slows-but-traders-are-predicting-10x-gains-for-new-green-crypto-token” target=”_blank” rel=”noopener”>eTukTuk surpassed $1.7 million, with investors attracted to its passive rewards and proactive climate change initiative.
It currently offers a 141% staking APY, which will decrease as the staking pool grows.
The project collaboration with Capital Maharaja Group in Sri Lanka exemplifies its hands-on approach to environmental matters.
The integration of ai for operational efficiency further positions eTukTuk as a promising investment in green technology.
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