Ethereum Price Prediction: Former Goldman Sachs Analyst Sees Huge ETH Breakout Against Bitcoin, But Experts Say This 10X Meme Coin Could Be The Best Cryptocurrency To Buy Right Now.

Ethereum price rose 2.5% in the last 24 hours. Traded for $3,350 As of 4:50 AM EST, trading volume was down 12.41% to $19 billion.

This comes as former Goldman Sachs executive Raoul Pal said ETH is preparing for a massive breakout against Bitcoin.

The ETH/BTC charts are truly amazing…and ready for the next big move, a breakout of the mega wedge…let’s see how it plays out… pic.twitter.com/5x4tJLjtJy

— Raoul Pal (@RaoulGMI) February 25, 2024

Pal said in his analysis on

With many analysts taking a bullish view on Ethereum, can Ethereum soar high enough to challenge Bitcoin?

Ethereum price is strong, riding a rising channel

In early February, the price of Ethereum was in a consolidation phase, trading within the $2,300 range. However, the bulls showed some strength and pushed the price to trade within the boundaries of the rising channel pattern.

ETH is currently trading above the 50-day and 200-day simple moving average (SMA), confirming its bullish momentum.

The Relative Strength Index (RSI) is also bullish as it is trading above the overbought zone at 80. This is a testament to investor optimism, evidenced by the intense buying pressure.

MACD (moving average convergence divergence) is also bullish as the moving average line (blue) crosses over the signal line (orange), indicating a bullish crossover. Investors typically use bullish crossovers as a signal to buy further.

The green bar in the histogram extends above the zero line, further supporting the bullish sentiment. Additionally, the Average Directional Index (ADX) is moving north from 49, indicating that the current trend is very strong.

Ethereum price prediction

Ethereum price analysis shows a clear bullish bias with price trading within a rising channel pattern. Additionally, the 50-day SMA is crossing the 200-day SMA, forming a golden cross at $2,409. Bulls will try to take advantage of these factors to push the price higher, targeting $4,000.

However, RSI is already above overbought territory, which could mean a price correction has begun. In this scenario, bears could drive the price down to $2,842, within the lower boundary of the rising channel.

Meanwhile, as the price of Ethereum rises, investors looking to diversify their investments with more upside potential may want to consider Sponge V2, a project that aims to emulate the 100x gains of its predecessor, Sponge V1.

Sponge V2: A promising opportunity for explosive returns

If you didn’t benefit from Sponge’s quick success last year, you still have a chance to invest. Sponge V2, as the major exchange launches get closer. Sponge V2 builds on the success of Sponge V1 while retaining the core elements of the meme token while providing greater utility and rewards.

you’re not ready yet $sponge 🧽🚀🧽#web3 #Cryptocurrency #memecoin #how pic.twitter.com/RA9AKTddyg

— $SPONGE (@spongeoneth) February 27, 2024

The project plans to revolutionize the market with its unique strategy for trading fees, liquidity, and staking.

The team discontinued Sponge V1 on February 5, paving the way for its 13,000+ holders to transition to the more secure and cost-effective V2 on the Polygon Network.

📣 Caution, #Sponger!

Here is some important information to remember: $sponge V2!$sponge V1 has been officially discontinued and V2 has been released. #polygon! 🔥

Learn more about token details below 👇https://t.co/TCdxgXx40w

🧵1/3 pic.twitter.com/YZzXOlKmHY

— $SPONGE (@spongeoneth) February 6, 2024

Buy and Stake $SPONGE V2, Get 778% Annual Rewards

you can Buy and Stake $SPONGE V2 Tokens Achieved 778% Annual Percentage Yield (APY) on Polygon Network. In addition, P2E (Play to Earn) games are also planned to be released. sponge Racer, You can earn token rewards while expanding the utility of your tokens.

According to cryptocurrency analyst and YouTuber Jacob Bury, Sponge V2 has the potential to skyrocket 10x upon launch.

To participate in the presale, visit: Sponge V2 official website Connect your digital wallet to exchange ETH or USDT for V2 tokens. You can also make direct purchases using your bank card.

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