Ethereum has been promising this month. It rallied past $3000 to $3,400 as its price gained momentum. Ethereum remains bullish despite a price drop. The current support is $3,000, with analysts eyeing a further surge toward a new all-time high. After its comeback, investors wondered if now was the moment to buy the king of altcoins. Let’s review Ethereum’s present price level and consider whether you should invest now.
Ethereum Price: Maintaining Levels Above $3,000
As of this report, Ethereum is worth $3102 at the time of writing, making a gradual recovery toward its all-time high of $4878. For now, Ethereum appears stable, having found support at the $3,000 mark which acted as resistance in the past. The price is currently in the range of $3080 and $3120 and analysts suggest it could bullishly extend towards the $4000 level and the range above provided it maintains its position above $3000. The closest resistance is around $3250. Should it surge past this level, the price might rise above $3320 and $3450. However, if it cannot break out from this level, it might fall below $3000.
Investor Sentiment: Why Many Are Holding ETH
On-chain metrics reveal retail investors are holding instead of taking profit. Onatt, a CryptoQuant analyst, says the meager ETH movement to big exchanges like Binance and OKX means investors are holding instead of selling. This indicates confidence in ETH’s long-term recovery and might suggest that Ethereum’s price might still experience more increase. Another important metric, the Spent Output Profit Ratio (SOPR), remains close to 1. This shows that ETH transactions are happening near breakeven, indicating that investors refuse to book short-term profits.
Whale Accumulation: A Bullish Signal
With around 430,000 ETH bought in the last two weeks alone, Ethereum whales have been aggressively gathering ETH. Their recent accumulation amounts to $1.4 billion. This noteworthy purchase shows that even big investors believe the Ethereum future potential.
Expert Forecasts: Will Ethereum Breakout of Consolidation?
Several analysts have projected favorable prices for Ethereum. Venturefinder, a well-known crypto enthusiast, has placed a target between $10,000 and $13,000 shortly. Similarly, Analyst Ali Martinez has predicted that Ethereum will soon outperform Bitcoin if it mirrors the trends of other market cycles. He also thinks ETH can soar to $10,000 if it gains continuous support from whales and stays aligned with the performance of the S&P 500.
Should You Invest in Ethereum at Its Current Price Level?
Considering various positive factors, Ethereum still has more space for growth. Once it breaks past the consolidation, its price might surge as high as $4,000 in the near term. Thus, now is a fantastic opportunity to buy the dip before Ethereum’s possible surge. However, its price is also nearing the overbought region. This offers investors a better opportunity as it could lead to further price corrections.
Rexas Finance (RXS): Another Altcoin to Watch
Rexas Finance (RXS) is making waves in the cryptocurrency world. It offers investors a promising path to substantial gains. What sets the project apart is its unique vision for finance. Rexas Finance focuses on tokenizing real-world assets (RWAs) like real estate and art. Asset tokenization transforms these assets into digital tokens, making them accessible in smaller fractions. This means investors can own smaller, affordable shares of high-value assets. As a result, smaller investors can now join the market, which had only been opened to large investors. Rexas Finance also provides powerful tools designed for ease and efficiency. The Rexas Token Builder simplifies the tokenization process and the QuickMint Bot enables users to create tokens right from their smartphones and computers. These solutions have attracted investors who believe they could be key to bridging traditional finance and cryptocurrencies.
Click Here To Buy Rexas Finance (RXS) Presale
The project has also proven to be secure. Its recent Certik Audit, a gold standard in crypto security, confirmed its robust coding. This has left investors more assured of its security and potential for long-term success, which has fueled its presale success. The RXS presale, which started in September at $0.03, has now reached stage 6. The token is currently priced at $0.08, with plans to hit $0.09 in the next stage. When RXS officially launched at $0.20, early backers from stage one could see jaw-dropping gains of 566%. Even at the current price level, investors will still get up to 150% returns. Experts are optimistic, with many saying that it could rally exponentially, going as high as $10 in 2025. RXS will launch on at least three major exchanges, giving it visibility and credibility. With Rexas Finance poised for exponential growth, it presents an exciting investment opportunity in 2024.
Conclusion
Ethereum price has been flat in the past week after falling from $3,440. It’s currently consolidating around $3100 but could soon rally higher after breaking the resistance level. Thus, now is a good time to buy ETH. Meanwhile, another cryptocurrency, Rexas Finance is also ready to surge. After its rally, analysts predict it can quickly race to $10. Thus, it’s a great opportunity for investors. The project is also running a giveaway to reward 20 lucky participants with $50,000. Now may be the best time to buy RXS while its price is still below $0.1.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Win $1 Million Giveaway: https://bit.ly/Rexas1M
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
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