The Ethereum price has surged 4% in seven days as it traded at $1883 as of 8:30 a.m. EST.
According to Markus Thielen, an analyst at Defi On Target, Ethereum’s rebounding revenue signals a potential trading opportunity, with support at $1,550 and a recent surge above $1,800. He sees it potentially hitting $3,000.
Ethereum Price Prediction
However, as analysts predict bull dominance on Ethereum price in the long term, a bear run in the short term is likely, as indicators point out to bearishness on Ethereum (ETH). Looking at 4-hour ETH/USD charts, a couple of bearish engulfing candle stick patterns have been formed. This demonstrates ongoing bear action on the Ethereum price, as also shown by the MACD indicator, which is currently in the red zone.
Ethereum Price – Bear Run?
The 15-day moving average has also exceeded the 5-day moving average to form a golden cross. This also points towards a bear run in the short term as bulls now face resistance at $1913. Looking at volatility, the Ethereum price is currently facing low volatility levels, as shown by the Bollinger bands, which are presently converging toward each other.
Meanwhile, as the short-term future of the Ethereum price holds prospects of a bear run, Meme Kombat’s new MK meme coin could be setting up for an explosion upon release as its presale continues to garner investor confidence.
Meme Kombat’s Presale Closes in on $1.35 Million Milestone
Meme Kombat, building upon its initial achievement of surpassing $1 million within a month, is surpassing expectations as it closes in on $1.35 million in funding.
Meme Kombat integrates various sought-after features within the cryptocurrency realm. Its alluring combination of Play2Earn dynamics, staking capabilities, blockchain-based gambling, and even artificial intelligence has significantly contributed to its remarkable progress in the market. However, as the pre-sale gathers attention, caution is advised as scammers are now taking center stage.
This is your daily reminder to be aware of scammers ⚠️
Not all who engage in kombat are honorable👿 pic.twitter.com/62jvRHGeaN
— Meme Kombat (@Meme_Kombat) November 4, 2023
Prominent figures in the crypto space have commended Meme Kombat’s enticing 112% annualized return (APY) offered through its stake-to-earn feature. Notably, the recent bullish surge of Floki’s meme currency highlights the growing demand for such staking programs, emphasizing the appeal and potential profitability of Meme Kombat’s offerings. This robust endorsement from notable personalities bolsters the project’s credibility and attracts further attention from potential investors.
Should You Have Transparency Concerns?
Meme Kombat has taken a distinctive approach by unveiling the identities of its entire team, which underlines its commitment to transparency and integrity. By establishing a sense of accountability and trustworthiness, the project has effectively allayed concerns related to anonymity and potential fraudulent activities. The transparency initiative bolsters the project’s credibility and is a strong foundation for fostering lasting investor confidence and support.
With its pre-sale triumph and the enthusiastic response from the crypto community, Meme Kombat is poised for substantial growth and recognition within the market. The project’s unique amalgamation of trending crypto concepts, captivating gameplay, and transparent operations positions it as a promising contender within the evolving landscape of blockchain-based gaming and digital assets.
As the platform continues to garner momentum and interest, stakeholders eagerly anticipate its official launch and subsequent milestones in the near future. With the Ethereum price holding prospects of a bearish run in the short term, Meme Kombat’s MK token could be an excellent alternative as it looks to explode amid release.
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