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Investors are looking to 1Fuel as Cardano (ADA) and Ethereum (ETH) struggle.
Due to the current retracements, some altcoins are finding it difficult to regain momentum. Ethereum, which rose to $4,000 and was approaching its new high of $4,792, has fallen sharply. Cardano is following a similar path, falling below $0.91. If further declines occur, analysts suspect they could consolidate at their current levels or see further declines.
However, a new token, 1Fuel, has gained traction and seen an increase in sales. Currently, 1Fuel has raised $835,000 in its second phase of sales at $0.012, with experts ranking it among the best cryptocurrencies to buy for 2025.
ETH is struggling to maintain bullish momentum
Over the past 24 hours, ETH has struggled to break out above the $3,477 resistance and has entered a bearish state with a high chance of ETH falling below $3,300 before a recovery occurs.
ETH’s long/short ratio – a metric that tracks the ratio of buyers to sellers in the market – is at 0.98 and is about to reach 1, a bullish sign. This means that investors believe that ETH still has potential for growth and are allocating more funds to it. However, if ETH diverges from its current price, there is a chance that it could drop to $3,000, resulting in a massive loss for these investors.
The uncertainty surrounding the ETH rally has caused investors to keep an eye on 1Fuel for its potential offerings. 1Fuel has…
