The Ethereum Price: Bulls Trade Within the Ascending Triangle
The Ethereum price increased by 1.7% in the last 24 hours to trade at $2,255. As trading volume soared 130% to $18.5 billion.
Amidst a surge in ETH prices, Ethereum founder Vitalik Buterin finds himself at the center of controversy due to his financial advice.
The issue emerged from a tweet speculating that Bill Gates significantly diminished his potential wealth by diversifying and selling Microsoft shares after meeting Warren Buffett. The tweet speculated that Gates could have been worth $1.33 trillion instead of his current $138 billion.
In light of this, Vitalik responded to the tweet, supporting diversification and saying that maintaining a “boring” portfolio is a good thing. He also advised against excessive leverage, suggesting that adhering to these principles can lead to financial security and freedom.
The Ethereum Price: Bulls Trade Within the Ascending Triangle
The Ethereum price shows signs of a rebound from the lower boundary of the ascending triangle pattern at $2181, which signals a continuation of the bullish trend.
ETH aims for a fresh peak, with trading surpassing both the 50-day and 200-day simple moving averages. This affirms the existing bullish sentiment and establishes short-term support levels. The golden cross at $1790 further validates the overall bullish momentum.
The Relative Strength Index (RSI) shows a rebound from the 50 midline level, suggesting potential buying pressure at the overbought threshold of 70.
The Ethereum Price Prediction
Bullish investors are riding a sustained upward trend within the ascending triangle, anticipating movements above its boundaries. A successful breach could see bulls aiming for a peak of $3000 in the first quarter of 2024.
However, a downside scenario might allow bears to influence a price decline towards the support zone at $2045 below the ascending triangle’s lower boundary.
While Ethereum traders await a suitable entry point, investors are eyeing the potential for a 100X return in 2024 by participating in the Meme Kombat presale, which has surged to almost $6.5 million amid FOMO.
Last Chance, MK Presale Closes On $6.5 Million Goal
$MK is scaling new heights. The Meme Kombat (MK) presale is racing towards its goal of $6.5 million, having already garnered $6.3 million, with each token being offered at a discounted rate of $0.279.
The platform offers AI-generated battles by unifying GameFi with meme characters and allowing players to wager on their preferred meme characters, with the potential for substantial rewards if their chosen characters win.
You also have the opportunity to earn passive income by staking your acquired MK tokens. This guarantees you a 149% annual percentage yield (APY). This staking feature is particularly attractive to investors who view Meme Kombat as a significant player in the future of meme coins.
Jacob Bury, a crypto analyst and YouTuber, recently reviewed the Meme Kombat project, anticipating a potential 10X increase in value upon its launch. To buy MK tokens, visit the official Meme Kombat website, connect your Web 3 wallet, and exchange your ETH, USDT, or BNB for MK tokens there.
Hot Take: Ethereum Price Surge Amid Vitalik Buterin Controversy
Investors in the cryptocurrency market are watching closely as Ethereum’s price increases amid Vitalik Buterin’s controversial financial advice. This signals a continued bullish trend, and traders are eagerly anticipating the future of the Ethereum market.
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