In fact, things have been looking increasingly better for Ethereum (ETH) for the past few weeks. Profit taking after the merger ended, ETH rose again to the then price level. But FTX’s looming bankruptcy, along with the spectacular spat between FTX and Binance executives, rocked the digital currency market and landed ETH in trouble once again. Ethereum lost almost a quarter of its market value in the past seven days – ETH is currently trading below $1200. Crypto traders are increasingly focusing on falling prices.
While the overall crypto market is down around 2.5% today, Ether is holding a bit more consistent with a 1% loss. Is the bottom coming now and approaching the perfect entry to accumulate ETH? Ethereum price prediction:
Ethereum price continues to fall: several supports broken – bearish!
The recent price action of Ethereum provides strong bearish momentum. In the last hour the price has fallen by 2%, in the last week by 22%. This means that the price loss over the past two weeks has been around 25%. Ethereum is once again in a downtrend and recently broke out of the established channel to the downside. Numerous support zones have been broken. In particular, the support zone above $1250 could not stop the price decline.
Ethereum Goes Deflationary: Token Stock Lower Than Merger – Bullish!
On the other hand, the tokenomics of Ethereum, which was changed by the merger, could be considered bullish, as the deflation now fully affects the total supply. Due to the turbulence in the crypto market, accompanied by gas taxes that have increased sharply in the meantime, there is real deflation in Ethereum for the first time. The total supply has just fallen in real terms for the first time since the merger. There are currently over 4000 fewer ethers than at the time of the merger. If this trend continues, deflationary tokenomics will be a bullish price driver as the overall market calms down.
Ethereum Holders Rising: Broad Bottom Possible – Bullish!
Meanwhile, Glassnode’s on-chain data shows that the number of addresses with at least one Ether increased to a new ATH. This suggests that Ethereum’s popularity across the board will continue to rise. Increasingly, the large number of ETH holders will be able to favor a sustainable bottom formation, which in the medium term forms the basis for prices to rise again – although this is unlikely to happen in the short term.
Is now the best time to buy ETH?
Admittedly, the question of the perfect timing can only be answered inadequately, as it is almost impossible to hit the bottom when buying ETH. Nevertheless, with a long-term investment horizon, it can undoubtedly be a good time if you are ready and willing to endure further short-term fluctuations or sell-offs. However, investors who are less willing to take risks are waiting for the first signs of a downturn before accumulating ETH – possibly also as a savings plan. In the long term, Ethereum will remain one of the cryptocurrencies with probably the most fundamental application potential on its way to the mass market.
Ethereum remains the market leader: Three new ERC-20 tokens are currently in presale
The Ethereum price is currently falling sharply, again indicating an increasingly favorable valuation. Because despite the current cryptocrash, Ethereum remains the market leading blockchain and is home to numerous tokens. New crypto projects continue to launch on Ethereum – three ERC-20 tokens that are currently in presale and have future potential can be found here:
Dash 2 Trade (D2T)
Dash 2 Trade is a new crypto project that aims to build an innovative trading platform à la Bloomberg Terminal, only for the digital currency market. In the future, traders should find a number of innovative features here that add value in terms of profitable trading. The good reputation and dynamic demand in presale make the native D2T token an exciting presale investment.
Go to Dash 2 Trade Presale
Just yesterday the presale of the new Metaverse coin RobotEra (TARO) started. For the first time, crypto investors can accumulate TARO tokens based on the ERC-20 protocol for $0.02. The team is preparing to build a new Metaverse a la sandbox. In the future, it should be possible to pursue numerous activities in the Metaverse – for example, establishing lucrative business models or entertainment via P2E games.
Go to the RobotEra Presale
The merger made Ethereum significantly more sustainable. With IMPT, there is a new ERC-20 token that aims precisely at this concept. Because IMPT.io is a sustainable shopping platform with well-known affiliate brands such as Amazon or Microsoft. In addition, there is NFT-based emission trading, which aims to make the currently highly fragmented market more transparent. Do good and earn money – it should be possible with IMPT.io.
For IMPT Presale