Ethereum Price Prediction: Top Analyst Says Rotation To Ethereum Is ‘Closer Than We Think’, ETH Up 16% In 7 Days As This Bitcoin Derivative Races Toward $11 Million has risen.

Ethereum price jumped up It has gained more than 16% over the past seven days as investors continue to buy the altcoin leader, trading at $2,816.55 as of 9:20 a.m. ET.

Analyst Michael van de Poppe told 693,200

“VanEck, ARK, Hashdex, BlackRock, Fidelity, Grayscale, and Invesco have submitted Spot Ethereum ETF applications for Q4 2023.” said. “Franklin Templeton has joined the race and applied for a Spot Ethereum ETF. A rotation towards ETH is closer than we think.”

Ethereum price overcomes another resistance level

ETH/USDT daily chart (Source: TradingView)

that much Ethereum The price broke the $2,685 resistance level in the last 24 hours. It is also trading in a positive price channel after hitting a series of highs and lows over the past two weeks. If this positive momentum continues, the altcoin leader may soon challenge the $2,890 barrier. A daily candle closer to this threshold could provide ETH with the foundation it needs to potentially rise to $3,140 in the coming days.

This optimistic thesis can be invalidated if: Ethereum The price now breaks below the lower limit of the rising price channel, which also joins the $2,685 mark. In this alternative scenario, there is a risk that the cryptocurrency could fall to $2,440 within a few days. Due to continued selling pressure, the price of Ethereum may fall to $2,295 in the near term.

Ethereum Price: Technology Looks Bullish

technical indicators ETH According to the daily chart, the Ethereum price may continue to rise over the next 48 hours. Both the relative strength index (RSI) and moving average convergence divergence (MACD) indicators suggest a continuation of the bullish trend in altcoins in the near term.

The RSI line is breaking above the simple moving average (SMA) line. Traders may see this as a sign that buyers are becoming more assertive against sellers. As a result, bullishness may continue to push the prices of altcoin leaders higher in the coming days. In addition to this, the MACD line is also breaking above the MACD signal line, which could be a sign that ETH’s positive trend shows no signs of slowing down yet. If these technical flags are verified, the Ethereum price could cross the $2,890 barrier in the next 48 hours.

Ethereum price is expected to continue its strong performance, Bitcoin Minetrix The pre-sale amount is on the verge of exceeding $11 million. This is a project that may appeal to investors looking to diversify their holdings into high-risk, high-reward assets.

Passive income stream paid in BTC

Bitcoin Minetrix introduces an innovative cloud mining platform that addresses the high barriers to entry and startup costs for anyone looking to start mining. Through decentralization, the project makes BTC mining in the cloud more secure.

🚀 Bitcoin ​​Spot #ETFs It’s shaking up market dynamics. #Bitcoin This is 10 times faster than mining machine production! #wall street gigantesque @black stone and @fidelity It’s driving this surge and driving demand. $BTC.

What do you think this means for the future? pic.twitter.com/sXCwRLmmJA

— Bitcoin Minetrix (@bitcoinminetrix) February 14, 2024

To get started, investors must purchase BTCMTX on the project’s official website. The token is currently selling for $0.0135 and can be purchased using Ether (ETH), Tether (USDT) or a bank card. Investors will need to hurry as the token price is expected to increase within 5 days.

After purchasing, investors must stake their tokens in exchange for “gas” reward tokens. This is part of Bitcoin Minetrix’ unique stake-to-mining mechanism that allows investors to mine BTC by staking BTCMTX tokens. These gas rewards must then be burned, allowing token holders to claim a stake in Bitcoin Minetrix’s cloud mining power. As a result, investors can access passive income opportunities paid in BTC.

Potential 10X Opportunity

Experts, including Youtuber Jacob Bury, say BTCMTX could soar 10x after launch. This is primarily due to the introduction of spot Bitcoin ETFs in the US and the upcoming halving event. These significant developments are providing a tailwind for the BTC price by increasing demand and reducing supply.

This favorable backdrop could trigger a surge in BTC price, which in turn could boost Bitcoin derivative projects such as Bitcoin Minetrix. The focus on BTC cloud mining further boosts BTCMTX’s breakout potential as investors are likely to flock to cloud mining solutions following the halving.

BTCMTX available for purchase here.

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A new cryptocurrency mining platform – Bitcoin Minetrix

• Thanks to Coinsult
• Decentralized, secure cloud mining
• Get free Bitcoin every day
• Native token currently in pre-sale – BTCMTX
• Staking Rewards – APY 50% or more