In the past week, Ethereum (ETH) has dropped 9.3%, falling from $3,630 on January 3 to $3,235 at the time of writing. While ETH is striving to defend the psychologically significant support level at $3,000, some crypto analysts remain confident that the digital asset’s long-term price trajectory is bullish. Can Ethereum Recover? Analysts Weigh In While the current crypto bull market saw Bitcoin (BTC) create multiple historical new all-time highs (ATH), Ethereum’s price action remained relatively muted. Notably, ETH’s ATH of $4,878 recorded in November 2021 remains intact. Related Reading: Ethereum Poised For A Bullish Q1 2025? Here’s What Experts Say However, ETH’s subpar price action during the current market cycle has not dampened crypto analysts’ hopes for a bullish trend reversal. For instance, several analysts are closely monitoring the inverse head-and-shoulders pattern forming on the 3-day Ethereum chart. While a standard head-and-shoulders pattern is typically bearish, an inverse head-and-shoulders pattern is considered bullish, signaling a potential reversal in the asset’s price trend. Analyst MikyBull recently highlighted this formation in a post on X. Crypto analyst Wolf, corroborated MikyBull’s bullish prediction. In their analysis, Wolf highlighted that a successful completion of an inverse head-and-shoulders pattern could propel ETH to as high as $7,200. Seasoned cryptocurrency analyst Ali Martinez added that a downswing to $2,900 would be “very bullish for Ethereum,” creating an excellent buying opportunity before ETH climbs to new ATHs. Martinez further noted that if ETH continues to follow its ascending parallel channel, a dip to $2,800 could provide a solid foundation for the next upward move. Meanwhile, cryptocurrency and forex trader Merlijn The Trader identified a bullish Moving Average Convergence Divergence (MACD) signal on Ethereum’s 4-hour chart. This indicates that momentum could be shifting from bearish to bullish. According to Merlijn, this momentum shift might push ETH to the $3,700 price level. Will ETH Hit A New ATH In 2025? At the time of writing, ETH is trading approximately 33% below its ATH price. However, the rising institutional interest in the digital asset – particularly after the US Securities and Exchange Commission (SEC) approved spot ETH exchange-traded funds (ETF) – could provide ETH the required momentum to eye new ATH. Related Reading: Ethereum Risk-Reward Ratio Is Now Attractive, Brokerage Firm Explains A recent report by Steno Research predicted that ETH is poised to outperform BTC in 2025, with price projections as high as $8,000. However, not all are convinced of a bullish 2025 for ETH. To conclude, Ethereum must first surpass the critical resistance level at $4,000 before it can set its sights on achieving new ATHs. At press time, ETH is trading at $3,235, up 0.1% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
OpenAI and SUI Partnership Will Open the Door for a PropiChain 43,102% Run, Here’s Why
Sui has created market excitement after unveiling its desire to partner with OpenAI. This has increased the spotlight on Sui, just days after the token hit a new all-time high. However, many investors have more faith in Propichain, citing its power to offer streamlined profit opportunities in the housing market. Read on to see why experts prefer Propichain to Sui. Experts Celebrate Sui’s Willingness to Partner with OpenAI The founder of Mysten Labs, the development team behind Sui, has released exciting news that confirms a possible mega AI collaboration in the future. The network founder highlighted the importance of pursuing AI to AI collaborations between Sui and OpenAI. Such a partnership could provide significant momentum for Sui’s growth, making it an attractive prospect for investors. Sui currently trades at $4.71, falling by 12.29% from its all-time high of $5.35. With talks of a possible collaboration with top AI companies like OpenAI, Sui could remain a top performer, rising to $7 in early February. Propichain: Creating Technology-Backed Investing Solutions for the Housing Market Propichain is an AI altcoin ecosystem that focuses on clearing the regular blocks in the traditional housing sector. It also prioritizes lowering investment costs and streamlining investor access to quality opportunities. Propichain’s first investing solution is fractional asset ownership. This innovative ownership model allows investors to acquire stakes in housing assets instead of purchasing them whole. This increases participation opportunities for lower-budget investors, providing opportunities that would have been unavailable in the traditional housing sector. After breaking down investment barriers with its fractional asset ownership model, Propichain further enhances its offerings by providing AI-driven tools designed to boost investing efficiency. Propichain’s AI-driven tools empower investors with advanced market analysis, trend assessment, and asset valuation. This makes it easier to discover investment properties that align with your financial goals. It also allows you to easily find market opportunities that match your investing ambitions. You can also tailor property searches to focus on specific types of housing assets. For instance, you can search for investing opportunities with high ROI potential. Even better, you can enjoy higher investing efficiency provided by Propichain’s automated trading features. Investors can complete deals using buy or sell orders that are completed automatically. These trade commands are activated based on the conditions you set. For instance, you can purchase a housing asset using a buy command that is only activated when the asset’s price falls to your preferred level. This takes investor convenience to another height. Propichain seamlessly integrates AI-powered insights with its metaverse-based services, giving investors access to both advanced analysis and global housing markets—all within a single platform. Propichain exposes investors to more housing opportunities via virtual tours that empower users to check out housing assets worldwide. Propichain investors can leverage this feature to scout housing properties in distant markets, all from the comfort of their homes. For instance, using these virtual tours, a London-based realtor can explore penthouse suites in Abu Dhabi without changing their location. Propichain also ensures that trades are backed by smart contract technology that guarantees high efficiency. These smart contracts provide near-instant transactions, allowing users to complete housing deals without the delays associated with the traditional housing sector. Propichain’s smart contracts can also be used to create specialized agreements for rental and leasing transactions.This ensures a seamless P2P trading experience, maximizing transaction speed and reliability. Sui and Propichain: Which Token Offers Better Returns? As Propichain’s AI altcoin gains momentum, it is being compared to leading digital assets like Sui, a token known for its innovation in the digital asset space. Interestingly, Propichain has won over many investors with two key moves. Firstly, its BlockAudit security certification has shown investors that its ecosystem is safe for real estate transactions. Propichain has also gone live on CoinMarketCap, further fueling belief in its long-term growth potential. Some analysts now claim that $1,000 worth of PCHAIN tokens could grow to $60,000 by Q2 2024. Propichain’s Presale: What You Stand to Gain As Propichain’s innovative features like fractional ownership and AI-driven tools gain traction, investors are flocking to the ongoing presale to purchase PCHAIN at an early, advantageous price. Investors who joined Propichain at the start of its presale have now earned a 208.17% interest from PCHAIN’s entry to round two of its presale. PCHAIN now trades at $0.011. However, round three of its presale will bring 108.93% to $0.023. This growth will continue until PCHAIN reaches its official launch price of $0.032. Don’t miss your chance to join the Propichain presale and secure PCHAIN at an early, advantageous price—before its value rises again. For more information about the PropiChain Presale: Website: https://propichain.finance/ Join Community: https://linktr.ee/propichain NewsBTC
Attention Analysis Company Announced! “If This Metric Fluctuates, Bitcoin Volatility Will Increase A Lot”
Cryptocurrency analytics firm Alphractal has released a new market update, highlighting notable trends in the Bitcoin and altcoin markets while also shedding light on potential volatility ahead. Alphractal noted that cryptocurrency mining stocks, which have historically shown a strong correlation with the price of Bitcoin, have experienced a recent short-term decline. However, the firm highlighted an interesting dynamic: Correlation Shift: When the typically strong correlation between Bitcoin and mining stocks weakens, this has historically preceded significant swings in Bitcoin price. Market Influence: Mining companies, which often hold significant Bitcoin reserves, act as influential market players. Deviations from Bitcoin’s price movements can signal market disruptions or trend reversals. Chart showing the correlation value between BTC price and the total market capitalization of cryptocurrency mining companies. Related News: Institutional Giant Whale Bulks Up On This Altcoin As The Price Plummets The report also shed light on the broader altcoin market, hinting at bearish conditions: Moving Averages: Around 80% of altcoins are trading below their 50-day moving averages, suggesting weakening momentum. Bollinger Bands: A significant portion of altcoins are trading below the lower Bollinger Bands on the daily charts, indicating potential oversold conditions. *This is not investment advice. Continue Reading: Attention Analysis Company Announced! “If This Metric Fluctuates, Bitcoin Volatility Will Increase A Lot” NewsBTC