ether ,ETH), the cryptocurrency that powers the smart-contract-enabled Ethereum The blockchain network, has made a nice recovery on Thursday with a more risk-friendly tone to trade in traditional asset classes (US stocks are up and the US dollar is down). According to CoinMarketCap, ETH/USD was last changing hands in the $1,250 area, up 0.75% over the past 24-hours, and near a 2.5% weekly low in the $1,220 area.
Although, ETH Still trading down about 4.5% above its initial weekly high of $1,300. Ether bulls struggle to regain control since major crypto exchange’s sudden downfall ftx about a month ago. Prior to the exchange explosion, ETH was trading in the $1,500-$1,600 zone. Since the collapse, rallies to $1,300 have been consistently sold by the market.
Data From Crypto Analytics Firm Sentiment Is Running On Real Profits And Losses Of The ETH Token Ethereum The network shows a spike in traders selling at a loss after the FTX crash. Selling from so-called “weak hands” could weigh heavily on the price of ETH in the near future.
Price Prediction – Recovery to $1,300 on the Cards?
Looking at the price of ETH on the shorter time horizon, the cryptocurrency appears to be trading lower within the range of a bearish flag. ETH is currently testing the upper range of this flag structure and it looks like it could head towards $1,300 once again.
A further recovery in US stock markets and further weakness in the US dollar at the end of the week could perhaps be a catalyst if Friday’s US inflation data turns out to be softer than forecast. Ethereum Bulls are needed. ETH could be aided by technical buying given that it recently found support at its 21-day moving average and 23.6% Fibonacci retracement level from post-FTX collapse levels below $1,100 to pre-FTX collapse highs of $1,600.
ETH Headwinds of Long-Term Bearishness Remain Major
A recovery for ETH to $1,300, and even a break above this level, will do little to change the cryptocurrency’s long-term technical outlook, which remains bearish. In fact, ETH remains locked within a downtrend that has been in play since the summer of 2020 and any near-term upside potential for ETH is likely to end.
For ETH to break out of the current bearish trend, it would need a sustained break above the $1,500 area, which is a 20% gain from current levels. To get here, ETH needs to rise above all its 50, 100 and 200 DMAs. Most of the long term bears will remain confident in their strategy of selling on meaningful short term ETH rallies.
Ethereum whales keep accumulating
While long-term price speculators may be bearish, on-chain data suggests that whale HODLers remain confident in ETH’s long-term prospects. According to Sentiment, Ethereum wallets holding between 100 and 1 million ETH tokens added a collective 5K ETH tokens between 561.th and 6th December’s This brings the so-called Ethereum “sharks and whales” holdings to their highest level before the Ethereum merger in early September.
Dash 2 Trade (D2T)
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 highly discounted rates. The D2T token sale recently surpassed $9.055 million. The sale has now entered its fourth and final phase and is still going strong with $400K brought in in the last 24 hours. The pre-sale dashboard is going to be released soon, currently the development team is running ahead of schedule. The tokens are currently selling for $0.0533 each, which observers are calling an extreme discount.
Dash 2Trade was recently listed by Coincodex as the 3rd best presale token of 2022.
IMPT
Amidst the rise in popularity in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider IMPT Token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprint and allows users to trade carbon credits on the blockchain.
IMPT tokens are currently in their second phase of presale, IMPT has raised over $15.6 million. This amounts to $1 million in token sales in the last 24 hours. Investors only have three days to buy the token at the current discounted price of $0.023. IMPT token exchange listing will start in a few days.
IMPT was recently listed by CoinCodex as one of the best presale tokens of 2022.
Calvaria (RIA)
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 Calvaria’s RIA Token Pre-Sale. Calvaria has now raised $2.36 million, with crypto whales netting $97.5K in a buy on Thursday. The pre-sale is in its final stages, with only 24% of the tokens left.
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