Ethereum

Pepe Coin

Convergence

The Ethereum price <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">plunged</a> over 5% in the last 24 hours to trade at $3,110.97 as of 7:40 a.m. EST as investors sell some of their holdings in the leading altcoin.
ETH’s drop comes after an April 24 Reuters <a href="https://www.reuters.com/markets/us/us-sec-expected-deny-spot-ether-etfs-next-month-industry-sources-say-2024-04-25/" rel="noopener noreferrer nofollow">report</a> that said&nbsp;U.S. issuers and other firms expect the Securities and Exchange Commission (<a href="https://insidebitcoins.com/news/sec-seeks-comments-on-blackrocks-ethereum-etf-ahead-of-may-deadline" rel="noopener noreferrer nofollow">SEC</a>) to reject spot ETH ETF (exchange-traded fund) applications next month following meetings with the regulator in recent weeks.
<h2 id="span-style-font-weight-400-the-ethereum-price-falls-out-of-a-bullish-channel-span">The Ethereum Price Falls Out Of A Bullish Channel</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/g/glFrW0r2.png" alt="BINANCE:ETHUSDT Chart Image by StevenWalgenbach">
4-hour chart for ETH/USDT (Source: <a href="https://www.tradingview.com/x/glFrW0r2/" rel="noopener noreferrer nofollow">TradingView</a>)
The <a href="https://insidebitcoins.com/news/ethereum-reclaims-nft-market-crown-could-it-be-the-nft-bull-run-loading" rel="noopener noreferrer nofollow">Ethereum</a> price slipped out below an ascending price channel that formed on its charts in the last couple of days. As a result, the leading altcoin is currently at risk of retesting the $2,989.11 support level in the next 24 hours.
Should sellers keep exerting pressure on the Ethereum price if it reaches this point, it might drop to as low as $2,834.54 in the short term. A 4-hour candle close above $3,177.58 within the coming 12 hours could invalidate this bearish thesis.
Traders might identify a close above $3,177.58 as a long entry. This potential buy pressure could then lead to the Ethereum price flipping the $3,318.66 barrier into support. In an extremely bullish scenario, ETH could climb to $3,471.59.
<h2 id="span-style-font-weight-400-the-ethereum-price-enters-a-bearish-cycle-as-sellers-take-charge-span">The Ethereum Price Enters A Bearish Cycle As Sellers Take Charge</h2>
Short-term technical indicators suggest the Ethereum price might drop further in the upcoming 24 hours. Two major bearish technical flags were triggered by the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) in the last 24 hours.
During this period, the RSI line broke below the Simple Moving Average (SMA) line on the 4-hour chart. This is generally seen as a signal that sellers have gained the upper hand against buyers.
With this advantage in hand, bears were able to pull the Ethereum price out of the aforementioned price channel. In doing so, the crypto has also exited its short-term bullish cycle and entered a bearish phase. This is evident by the MACD line’s cross below the MACD Signal line.
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<h2 id="span-style-font-weight-400-letting-users-earn-while-they-learn-span">Letting Users Earn While They Learn</h2>
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99Bitcoins is now looking to elevate its educational offering to the next level with the launch of its own crypto token, 99BTC. This crypto will be used to reward users who actively engage with the educational content on the platform.
<iframe title="New Prelaunch 99Bitcoins Learn 2 Earn On BRC-20 - Early Buyers Become Millionaires (HUGE POTENTIAL)" width="640" height="360" src="https://www.youtube.com/embed/fqz4Dt085rQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<h2 id="span-style-font-weight-400-access-to-a-big-community-of-investors-span">Access To A Big Community Of Investors</h2>
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<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Our <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://twitter.com/hashtag/Airdrop?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Airdrop</a> is heating up! 🔥
 Over 1,500 entries in just 6 days! Don't miss out on this opportunity to be one of the 99 lucky winners.
 Join now! 👉 <a href="https://t.co/ZXji0s6ACe" rel="noopener noreferrer nofollow">https://t.co/ZXji0s6ACe</a>
 $99BTC <a href="https://twitter.com/hashtag/CryptoGiveaway?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoGiveaway</a> <a href="https://twitter.com/hashtag/Presale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Presale</a> <a href="https://t.co/O89oXJp46Z" rel="noopener noreferrer nofollow">pic.twitter.com/O89oXJp46Z</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1780234798369222708?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 16, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Ethereum Price Prediction: ETH Plummets 5% As This Learn-2-Earn Crypto Powers Past $800K

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