ETH Trading volume remains high, with $8.3 billion worth of tokens changing hands in the past 24 hours, according to CoinGecko, as the cryptocurrency continues to pull back from Wednesday’s prior.Hawkish Fed meeting Higher in the $1,350 area. At the current level of $1,280, ETH/USD has now retraced about 5.0% from these highs and is down about 3.2% over the past 24 hours, according to CoinMarketCap. Price forecasts have thus become more pessimistic.
ETH, otherwise known as Ether, is the original cryptocurrency that powers smart-contract-enabled Ethereum blockchain. recent news that PayPal has teamed up with MetaMask To lower the barrier for its users to be able to buy ETH, potentially boosting demand/adoption without affecting the price. The world’s second-largest cryptocurrency by market capitalization is still down nearly 20% versus its lows of $1,100 in early November, but has now erased its December gains.
Price Prediction – Where’s Next for ETH?
ETH’s latest decline means that the cryptocurrency failed to maintain its 50-day moving average and the 38.2% Fibonacci retracement level from the November low to the November high, which is a bad sign for short-term momentum. For now, Ethereum’s medium-term uptrend from the November low is intact, but bears will be eyeing a near-term retest of the 21DMA at $1,250. A break below here could signal a breakdown of the uptrend since November and trigger a deterioration in ETH sentiment and a decline towards $1,200.
The recent price action (i.e. the recent rally being sold) is very much in line with Ether’s long-term downtrend that has been in play since the summer. The downtrend suggests that a lower towards $1,000 is likely in the coming months and any gains could be limited to the $1,500 area. Absence of the dovish Fed pivot that many in the market were expecting after Tuesday US CPI data softer than expectedThis means that the much-anticipated “Santa Rally” probably won’t happen this year.
Altcoins giving quick returns
The cryptocurrency has been trading sideways for a few weeks, prompting some traders to look for options with higher potential in the short term. Listed below are some of the major pre-sales in the market, allowing investors to get in in on the ground floor.
FightOut (FGHT) – Presale Launch
FightOut, a brand new move-to-earn (M2E) fitness application and gym chain that wants to bring the fitness lifestyle to Web3, has started its pre-sales and investors feel the project will complement the current Web3 M2E landscape. may change. Existing M2E applications such as StepN only track steps and require expensive non-fungible tokens (NFTs) to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity. is, and it is not required. No costly buy-in to participate.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT and interested investors are encouraged to act fast to secure their tokens, with pre-sales raising over $1.8 million in just a few days. has increased. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Pre-sale enters final phase
Those looking to invest in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up and coming analytics and social trading platform is expected to take the crypto trading space by storm with its unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and strategy back-testing tools. Dash 2 Trade’s ecosystem will be powered by D2T tokens, which users will need to purchase and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at deeply discounted rates and sales recently exceeded $9.82 million. The pre-sale dashboard is going to be released on Friday, currently the development team is running ahead of schedule. The tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in about a month.
Calvaria (RIA) – Final pre-sale phase now
Major blockchain-based games such as Axis Infinity have lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an emerging play-to-earn battle card crypto game, could be a good option. Calvaria seeks to promote crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calveria’s RIA Token Pre-Sale. Calvaria has now raised $2.45 million, with a crypto whale netting $97.5K in a single buy last week. The pre-sale is in its final stages, with only 21% of the tokens remaining.
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