Ethereum looks promising this month. The price gained momentum and rose above $3,000 to $3,400. Ethereum remains bullish despite the price drop. The current support level is at $3,000, and analysts are eyeing a further rally towards a new all-time high. After its resurgence, investors wondered if now was the time to buy the king of altcoins. Let's take a look at Ethereum's current price levels and consider whether you should invest now.
Ethereum price: Maintains level above $3,000
At the time of writing this report, Ethereum was valued at $3,102 and is slowly recovering towards its all-time high of $4,878. For now, Ethereum appears to be stable, finding support at the $3,000 mark, which has served as resistance in the past. Prices are currently in the $3,080-$3,120 range, with analysts suggesting that holding positions above $3,000 could lead to a bullish expansion towards the $4,000 level and the range above. . The nearest resistance level is around $3250. If it spikes above this level, the price could rise above $3320 and $3450. However, if it fails to break out of this level, it could fall below $3000.
Investor psychology: Why do so many people hold ETH?
On-chain metrics reveal that retail investors are holding rather than taking profits. Onatt, an analyst at CryptoQuant, says the small movement of ETH onto major exchanges such as Binance and OKX means investors are holding rather than selling. . This shows confidence in ETH's long-term recovery and may suggest that Ethereum's price may rise further. Another important metric, the expense return ratio (SOPR), has remained close to 1. This indicates that ETH trading is occurring near the break-even point, indicating that investors are refusing to book short-term profits.
Whale accumulation: bullish signal
Ethereum whales are actively collecting ETH, with approximately 430,000 ETH purchased in the past two weeks alone. Their recent accumulation amounts to $1.4 billion. This notable purchase shows that even big investors believe in Ethereum's future.
Expert predictions: Will Ethereum emerge from consolidation?
Several analysts are predicting a favorable price for Ethereum. Venturefinder, a well-known cryptocurrency enthusiast, has set a goal of between $10,000 and $13,000 in the near term. Similarly, analyst Ali Martinez predicted that if Ethereum reflects trends in other market cycles, it will soon outperform Bitcoin. He also believes that if ETH receives continued support from whales and continues to keep pace with the performance of the S&P 500, ETH could soar to $10,000.
Should you invest in Ethereum at its current price level?
Considering various positive factors, Ethereum still has room to grow. Once the pair breaks out of consolidation, the price could rise to $4,000 in the short term. Therefore, now is a great time to buy on the dip before Ethereum potentially skyrockets. However, its price is also approaching overbought territory. This could lead to further price corrections, making it a better opportunity for investors.
Rexas Finance (RXS): Another altcoin to watch
Rexas Finance (RXS) is making waves in the cryptocurrency world. It offers investors a promising path to significant profits. What sets this project apart is its unique vision for finance. Rexas Finance focuses on tokenizing real world assets (RWA) such as real estate and art. Asset tokenization converts these assets into digital tokens that can be accessed in smaller units. This means investors can own smaller, more affordable stakes in high-value assets. As a result, small investors can now participate in a market that was previously open only to large investors. Rexas Finance also offers powerful tools designed for ease of use and efficiency. Rexas Token Builder simplifies the tokenization process, and QuickMint Bot allows users to create tokens directly from their smartphone or computer. These solutions are attracting investors who believe they could be the key to bridging traditional finance and cryptocurrencies.
Click here to buy Rexas Finance (RXS) Presale
This project has also been proven to be secure. A recent Certik Audit, the gold standard in cryptographic security, confirmed its robust coding. This gave investors more confidence in its safety and potential for long-term success, fueling its presale success. The RXS presale, which started in September at $0.03, has now reached Stage 6. The token price is currently $0.08 and will reach $0.09 in the next stage. When RXS was officially launched at $0.20, early backers from stage 1 were able to earn an amazing return of 566%. Even at current price levels, investors can earn returns of up to 150%. Experts are optimistic, with many saying it could rise exponentially and reach $10 by 2025. RXS will launch on at least three major exchanges, giving it visibility and credibility. Rexas Finance is aiming for exponential growth and presents exciting investment opportunities in 2024.
conclusion
Ethereum price has been flat over the past week after falling from $3,440. The price is currently consolidating around $3,100, but it could move higher soon after breaking through the resistance level. Therefore, now is a good time to buy ETH. Meanwhile, another cryptocurrency, Lexus Finance, is also poised to soar. Analysts predict that the rally could quickly rise to $10. Therefore, it is a great opportunity for investors. The project is also running a giveaway where 20 lucky participants will receive $50,000. Now might be the best time to buy RXS, with the price still below $0.1.
For more information on Rexas Finance (RXS), please visit the link below.
Website: https://rexas.com
Win a million dollar 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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