Ethereum Price Prediction: ETH Up 0.5% with $6 Billion Trading Volume – Are Whales Accumulating?

Crypto News
Crypto News

29 Jun 2023 11:11 AM

The Ethereum price has risen by 0.5% in the past 24 hours, reaching $1,866 as the cryptocurrency market enjoys a similar gain today....

  • Ethereum (ETH) has seen a 0.5% increase in the past 24 hours, reaching $1,866.
  • ETH is down 2% in a week but up 14% in the last 14 days.
  • The altcoin has increased by 56% since the beginning of the year.
  • ETH's 24-hour trading volume has surpassed $6 billion.
  • There are signs of big whale transfers involving ETH, indicating potential further gains.
  • ETH's fundamentals suggest sustained increases over the medium and long term.
  • Technical indicators, such as the relative strength index and moving averages, suggest potential growth.
  • ETH's support level has risen, forming a pennant with the altcoin's resistance level, indicating a potential breakout.
  • Whales have been selling ETH but are expected to begin accumulating again.
  • Ethereum dominates the DeFi market and has a decreasing supply due to staking and burning of transaction fees.
  • ETH is not labeled as a security by the SEC, unlike other altcoins.
  • The price of ETH is expected to reach $2,000 in the next few weeks and potentially $2,500 by the end of the year.
  • Immediate gains may be found in newer altcoins, such as Thug Life Token (THUG), which has already raised over $100,000 in its presale.

The sentiment towards Ethereum is generally positive, with expectations of further gains in the future.

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You May Ask

What is the current price of Ethereum and how has it performed in the past 24 hours?How has Ethereum's price changed in the last week and the last 14 days?What are the factors contributing to the potential growth of Ethereum?What are the expectations for Ethereum's price in the short term and long term?What is Thug Life Token (THUG) and how has its presale performed so far?

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