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<![CDATA[<figure class="image"><img src="https://cimg.co/news/126271/333443/eth.jpg" srcset="" width="" class="content-img" alt=""><figcaption>ETH/USD Chart / Source: TradingView</figcaption></figure>Ether (ETH) is back to trading flat in the $1,550 area after seeing a sharp reversal lower from earlier session highs in the $1,630s.The cryptocurrency&rsquo;s sudden intra-day reversal comes after ETH/USD found strong resistance at its 21 and 50DMAs, though <a href="https://cryptonews.com/guides/what-is-ether.htm">Ether</a> is for now finding support above key long-term support around $1,550.A bullish research report from Standard Chartered which forecasted a rise to a price of around $8,000 by 2026 has failed to lift sentiment.Standard Chartered Bank&rsquo;s head of Digital Assets Research Geoff Kendrick argued that <a href="https://cryptonews.com/news/ethereum-news/">Ethereum</a> is already dominant in <a href="https://cryptonews.com/guides/nft/">NFTs</a> and <a href="https://cryptonews.com/news/defi-news/">DeFi</a>, but should also become the dominant blockchain powering the fast-growing <a href="https://cryptonews.com/guides/what-is-web3.htm">web3</a> <a href="https://cryptonews.com/news/best-gaming-cryptos.htm">gaming</a> and <a href="https://cryptonews.com/news/bank-of-america-forecasts-transformative-role-of-tokenization-finance.htm">tokenization</a> industries, both of which should add &ldquo;significant demand&rdquo;.&ldquo;Importantly, this should provide &lsquo;proof of concept&rsquo; examples in which real-world industries come on-chain to exploit the benefits of Ethereum over their existing setups,&rdquo; Kendrick argued, adding &ldquo;we expect significant developments on these fronts by 2025-26&rdquo;.Kendrick added that the bank could rally back towards $4,000 by the end of 2024, with the <a href="https://cryptonews.com/coins/bitcoin/">Bitcoin</a> (BTC) <a href="https://cryptonews.com/tags/bitcoin-halving/">halving</a> helping to lift all boats in the crypto world.<h2 id="strong-price-prediction-will-ether-eth-break-this-key-support-level-strong">Price Prediction &ndash; Will Ether (ETH) Break This Key Support Level?</h2>Progress toward Standard Charters' $8,000 might have to wait, as <a href="https://cryptonews.com/guides/ethereum/">Ether</a> threatens a break of key long-term support at $1,550.A break of this level could open the door to a swift move back to the March 2023 lows under $1,400, meaning a potential near-term price drop of as much as 12%.<figure class="image"><img src="https://cimg.co/news/126271/333444/eth.jpg" srcset="" width="" class="content-img" alt=""></figure>Risks are certainly tilted towards more downside.Macro headwinds are high, with <a href="https://www.reuters.com/world/middle-east/israel-hamas-war-latest-news-market-response-business-impact-2023-10-09/">the Israel/Palestine war</a> escalating and its impact on global oil markets (and global inflation) still unclear, while the latest <a href="https://www.reuters.com/markets/us/us-producer-prices-increase-september-higher-energy-costs-2023-10-11/">US PPI numbers</a> came out hotter than expected, raising fears about higher for longer interest rates in the US.Meanwhile, Ether market conditions have been weak recently &ndash; <a href="https://cryptonews.com/news/proshares-launches-six-ether-futures-etfs-expanding-crypto-etf-market.htm">Ether futures ETFs debuted in the US last week</a>, but saw poor demand, while the <a href="https://cryptonews.com/news/chain-expert-probes-the-ethereum-foundations-link-to-the-filecoin-ico.htm">Ethereum Foundation</a> recently sold $2.7 million in tokens.But a dip back towards the $1,300s would likely present a great opportunity for the longer-term bulls to add to their long positions, so those with spare powder and a willingness to secure a &ldquo;bargain&rdquo; on ETH should be ready to pounce.<h2 id="strong-crypto-alternatives-to-consider-strong">Crypto Alternatives to Consider</h2>With the near-term outlook for Ether potentially bearish, investors may want to diversify their crypto holdings.For those looking for an even better probability of near-term gains, an alternative high-risk-high-reward investment strategy to consider is getting involved in crypto presales.This is where investors buy the tokens of up-start crypto projects to help fund their development.These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.If an investor can identify such projects, the risk/reward of their presale investment is very good.The team at Cryptonews spends a lot of time combing through presale projects to help investors out.Here is a list of 15 of what the project deems as the best crypto presales of 2023.<a href="https://cryptonews.com/news/new-cryptocurrency.htm">See the 15 Cryptocurrencies</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Ethereum Price Prediction as Standard Chartered Forecasts $8K Price By 2026 – Will Ether (ETH) Break Below This Key Support Level?

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