As Ethereum loses, this crypto project shines with 20x potential! –

Ethereum price prediction: -12% in one week!  The top analyst declares: The rally continues

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During the constant fluctuations in the crypto market Ethereum (ETH) There has been no significant change in prices in the last 24 hours. It held steady at $1,740, down 5% over the past week and down 8% over the past two weeks. Still, it cannot be ignored that the price of ETH has seen a massive 46% gain since the beginning of the year.

The analysts who constantly monitor the crypto market noticed that this altcoin is creating what is called a “golden cross” on a weekly basis. For the first time since 2019, its short-term moving average has risen above the long-term average. This phenomenon is a strong indication that ETH could see a strong bullish movement in the near future.

However, despite this positive outlook, there are some uncertainties in the market that cannot be ignored. The United States Securities and Exchange Commission recently took legal action against cryptocurrency exchanges like Binance and Coinbase. These actions could have a short-term impact on the price of Ethereum and thus lead it to an uncertain state.

Despite the potential setbacks, Ethereum’s foundation remains strong yet unassailable. It continues to be among the best cryptocurrencies on the market based on its technical infrastructure and use cases. So, it’s only a matter of time before Ethereum sees another major rally. In the meantime, however, there is another interesting project. One that places particular value on the environment and recycling: Ecoterra.

Ethereum Forecast: Buy Now?

In a closer look at the recent development of Ethereum (ETH). technical indicators are pointing to continued weakness. The company is still recovering from a sharp market-wide selloff last week. Specifically, ETH’s 30-day moving average, shown here in yellow, recently fell below the 200-day moving average, symbolized by the blue line. This trend is still continuing and indicates that the current downturn may not be over yet.

At the same time, the relative strength index (RSI), shown here in purple, of the coin is still below the 50 level. It has been hovering near or below the 30 level for the past few days, indicating a lack of positive momentum.

However, it is important to note that technical indicators can show that they are highly dependent on the chosen time frame. Looking at Ethereum’s price performance over the past few years, the altcoin’s position looks much more promising.

In the graphically released chart, it is clear that Ethereum’s short-term average is surpassing its long-term average for the first time in several years. This marks the beginning of a new trend.

Despite this, the current regulatory turmoil may affect the market This means that it will still be a few months before this new cycle really takes off.

For investors, this situation presents an opportunity to acquire Ethereum at a significantly reduced price, before entering another phase of sustained gains.

Based on the fundamentals of Ethereum, we are likely to see significant price increases in the not too distant future. Ethereum’s strong technical characteristics and use cases make it an attractive investment for those who believe in the cryptocurrency’s long-term potential.

ETH Not Mentioned in SEC Proceedings – Why the Rally?

Interestingly, Ethereum (ETH) was in contrast to many other altcoins in the recent SEC cases against Coinbase and Binance not listed as a security. This circumstance could clear the regulatory field for future ETH rallies and give the cryptocurrency a distinct advantage. And indeed, ETH has several fundamental factors on its side that further strengthen its position.

For one thing, implementing stacking mechanisms – and more recently, enabling stake withdrawals – caused a significant spike in locked ETH. Removing these coins from circulation increases demand relative to supply.

Second, Ethereum is attracting more mainstream use and adoption compared to competing platforms, a trend that the SEC’s lack of attention could only exacerbate.

In addition, Societe Generale, for example, is choosing Ethereum as the platform for its own euro-based stable, and Visa is testing the Ethereum blockchain for USDC payments. As such, ETH is in a strong position to regain lost ground when the dust settles after the SEC’s recent actions.

From the current price of $1,750, ETH could enter the second half of the year take up to $2,000 back easily.

And if it is true that this altcoin is indeed at the beginning of a new uptrend, it could even rally towards $3,000 by the end of 2023 or early 2024. This suggests that investors who choose to invest now may see significant gains in the coming months and years.

A good alternative to Ethereum: Ecoterra

No matter how much potential Ethereum’s next rally holds, it may be a while before holders see significant gains. With this in mind, it may be wise for traders to diversify their portfolios and include newer altcoins as well. These new cryptocurrencies, especially the so-called pre-sale tokens, can enjoy quick profits and can see sharp price jumps after their initial listing.

There is currently one such promising pre-sale token ecoterra. This is based on the Ethereum blockchain and is part of a so-called “recycling to earn” platform that already has more than its share. $5 million was raised yes. To be launched in the second half of this year, ecoterra’s unique platform rewards users for recycling their household waste at participating locations.

In exchange for their recycling activities, users receive the native ECOTERRA token, which encourages environmentally responsible behavior and a greener lifestyle.

In addition, ecoterra plans to reward users for generating their own green energy by offering NFT-based carbon offsets.. These offsets will be tradable on ecoterra’s proprietary NFT marketplace, providing even more environmental incentives. In contrast to some cryptocurrencies, which have been criticized for their impact on the environment, ecoterra focuses on greater environmental awareness in the crypto sector.

That explains why more and more people are participating in the ECOTERRA presale. New investors can join by visiting Ecoterra’s official website and linking their software wallets.

Currently, 1 ECOTERRA is trading for $0.000000. But in a little more than 15 days, that price will rise to $0.01. Therefore, investors only have a limited time to buy the token at the best possible price. This could be a worthwhile investment, especially for those looking for other ways to diversify their crypto portfolio while contributing positively to the environment.

Buy ecoterra now

Last updated on June 13, 2023

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