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The price of Ethereum arose more than 6% in the last 24 hours to trade at $3,231.84 at 8:25 am EST as investors rush to accumulate the altcoin.
Increased investor interest in ETH follows conditional approval for asset managers to begin trading spot and spot Bitcoin ETFs. Ethereum ETFs in Hong Kong.
Harvest Global Investments, and a partnership between HashKey Capital and Bosera Asset Management (International), announced the initial approvals in separate statements today.
Ethereum price forms bullish channel
4-hour chart for ETH/USDT (Source: TradingView)
He Ethereum The price printed multiple higher highs and higher lows on the 4-hour chart over the last 24 hours. This bullish phase resulted in the formation of an ascending price channel and also led the leading altcoin to surpass the resistance level of $3,080.67.
Now, buyers are also attempting to push ETH above the $3,283.06 barrier to potentially turn the mark into support. If Ethereum price closes a 4-hour candle above this threshold in the next 12 hours, it could have the necessary foundation to continue rising in the next 24 hours.
With this possible continuation of the uptrend, ETH could rise to $3,471.42 in the short term.
Traders will want to note that sellers are currently putting pressure on ETH. If the bulls cannot fend off this bearish force, then Ethereum price could be at risk of breaking out of the aforementioned ascending channel.
As a result, the crypto could correct to the recently breached level of $3,080.67 in the next 8 to 12 hours. Continued selling pressure at this point could see ETH fall to $2,900.33, which is the next major support.
Bulls May Drive Ethereum Price Up
Technical indicators on ETH’s 4-hour chart suggest that the altcoin king could continue rising in the coming days. This is because the Moving Average Convergence Divergence (MACD) indicator triggered a major bullish technical flag.
In the last 12 hours, the MACD line crossed above the MACD signal line. Traders often identify this specific technical fact as a sign that a cryptocurrency has entered a positive trend and could subsequently continue to rise in the short term.
Buyers also have the advantage over sellers, as indicated by the Relative Strength Index (RSI) line placing above its Simple Moving Average (SMA) line on the 4-hour chart. Therefore, it could be easier for bulls to push Ethereum price up in the next 24 hours than for bears to push it down, as the former is currently stronger than the latter.
With the approval of Bitcoin and Ethereum ETFs in Hong Kong, it could be only a matter of time before investors turn to smaller-cap derivatives of market leaders that could generate much higher returns. 99Bitcoinswith its pioneering Learn-2-Earn platform, it is one of those projects that has already managed to attract investors.
An established brand
99Bitcoins is an educational platform that has established itself as one of the leading blockchain educators in the space. Through a simplified approach of incorporating diagrams and compiling interactive videos, the platform team has managed to make the complex aspects of cryptography and blockchain more understandable for everyone.
99Bitcoins has more than 700 thousand subscribers through its YouTube channel and 2 million registered users on its platform. Now, the team is looking to boost its efforts to educate the masses with the launch of its own crypto token.
What is spatial computing? Discover how #blockchain is transforming AR/VR, making immersive digital worlds more interactive and safe.
Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #web3
— 99Bitcoins (@99BitcoinsHQ) April 8, 2024
The token incorporates an innovative learn and earn model. This means that users can earn cryptocurrencies by developing their knowledge in the Web3 domain, presenting investors with a win-win scenario.
By completing interactive learning modules, quizzes, and tutorials, users will be able to increase their ranking on the 99Bitcoins leaderboard. The higher this ranking, the higher your payout.
Additionally, completing courses and tutorials will unlock more educational content. Therefore, investors will have more opportunities to improve their rankings and earn cryptocurrency as they interact with the platform’s educational resources.
Investors rush in early
Cryptocurrency investors are struggling to buy 99Bitcoins at this early stage. After recently reaching the $300K milestone, the project’s ICO appears to be on track to soon surpass the $1M milestone as well.
Beyond the speculative trading opportunity of a new cryptocurrency, buyers could be flocking to the project’s ICO due to the high APY on offer. Anyone who buys and stakes their tokens will now gain access to a lucrative 6,780% in annual rewards.
With the #Bitcoin Halving event just 9 days away, speculation is increasing: Is it $BTCWill the price skyrocket after the halving? 👀
Dive deeper into our analysis of the potential price impact of this major supply shock.
Read more: https://t.co/zTA3n26nDl#99Bitcoins #Reduce by half #Bull market
— 99Bitcoins (@99BitcoinsHQ) April 11, 2024
For a chance to earn this APY, investors will need to purchase the project’s native 99BTC token on its official website. The cryptocurrency sells for $0.001 and can be purchased using ETH, USDT, or bank card.
However, there will be a price increase in 19 hours, so act soon if you are interested.
Related Posts:
99Bitcoins (99BTC) – New token to learn how to earn
- Audited by solid evidence
- Established brand: founded in 2013
- Free Airdrop – Win a Share of $99,999
- Learn to Earn: Earn money to complete trading courses
- More than 700,000 YouTube communities
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