Ethereum Price Prediction: As ETH Rises Above $3,000, Traders Turn to This Learnable ICO Heading for $1 Million.

adminApril 19, 2024

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Ethereum price fell 1.8% in the last 24 hours. Traded for $3004 As of 6:55 a.m. EST, trading volume had surged 24% to $19.6 billion.

Despite the downturn, Ryan Berckmans, a prominent member of the Ethereum community and an experienced investor, explains the draft US stablecoin bill: Ethereum is “very bullish.”

🚨Draft new stablecoin bill🚨
What I first read was that this bill was extremely optimistic and would legalize Ethereum.
Disclaimer: I am not a lawyer or regulatory expert. I read part of the new bill (1) and analyzed it with GPT4. Analyze it yourself (2)
TL;DR
– Ethereum wins big…
— Ryan Berckmans ryanb.eth (@ryanberckmans) April 17, 2024

Berckmans said the bill could help legitimize Ethereum since some stablecoins are issued on the platform.

Ethereum price indicates a bounce from a support zone.

Ethereum price fell from a high of $3718 to the support level of $2956, where it currently remains. The bulls tried to push the price back up, but the bears were strong and forced the price back down. This creates a pattern that looks like a double bottom, suggesting a possible reversal to a bullish trend.

Ethereum price

ETHUSDT analysis. Source:Tradingview.com

Ethereum price is rebounding from a double bottom pattern and showing an upward trend. It is currently trading below the simple moving average (SMA) of 50 and 200, but the bulls are trying to break above these levels to start a rally.

The relative strength index (RSI) is also showing positive signs, rising from the oversold level of 30 to the moderate level of 50. If this momentum continues, RSI could enter overbought territory, indicating significant pressure from buyers.

Ethereum price rise target is to reclaim $3800 highs

The double bottom pattern gave the bulls an opportunity to start a rally. The fact that the price is holding steady around the pattern’s support trend line shows that the bulls are bullish, giving the bulls an opportunity to gain momentum and push the price back up to reach the April 9 high of $3,800. provide.

On the other hand, if the support zone starts to shake, the bears may take control and the price may fall towards the $2700 support.

Investors flock to 99Bitcoins token: Is this the next 100X gem?

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The price of $99BTC is $0.00101 per token, but a price increase is expected within 5 days.

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