ETH has fallen 3% in the past 24 hours, bringing the price of Ethereum down to $3,524 on a day when the overall crypto market fell 2.5%.
This means that Ethereum is up 5% in one week but down 12.5% in one month, even though the market's largest alt currency is still up 89% over the past year.
The last few days have seen an encouraging rise in trading volume, with ETH trading volume rising from around $8.6 billion on Sunday to nearly $18 billion now.
This suggests that the coin may be preparing for a big move in the coming days, which could coincide with the approach of Bitcoin's halving.
Ethereum price prediction as ETH daily trading volume reaches $18 billion – can ETH overtake BTC?
The ETH chart gives the impression that it is very close to a recovery, and today's indicators show some improvement.
After falling sharply yesterday, the 30-day average (orange) has slowed its decline and may be nearing flattening (and returning to growth).
Similarly, ETH's Relative Strength Index (purple) has risen from 30 yesterday to around 45 today, suggesting that the coin is regaining momentum that could help it rise again.
What is encouraging in this regard is that the coin's support level (green) has recovered over the past week, suggesting that it may already be entering a recovery period.
This is evidenced by the aforementioned trading volume, which more than doubled in a matter of days.
🚨 🚨 🚨 🚨 22,959 #ETH (80,690,914 USD) was transferred from an unknown wallet to Coinbase Institutional https://t.co/yIoH8Qo23U
— Whale Alert (@whale_alert) April 10, 2024
Having said that, it is encouraging to see that ETH is able to sell relatively large without the price dropping significantly, although this is mainly due to large traders selling.
And looking to the near and more distant future, things look good for Ethereum.
In addition to benefiting from the post-Bitcoin halving bull market, a spot-based Ethereum ETF remains a possibility.
If approved, these ETFs could significantly boost the price of Ethereum in the same way that Bitcoin ETFs boosted BTC.
Combined with Ethereum’s strong fundamentals (it still commands more than half of the market in terms of TVL), ETH is likely to rise significantly.
It could reach $4,000 in the coming weeks and $5,000 in the second half of this year.
Alternatives for large rallies
Ethereum, the second largest token on the market, may be a little too established for some tastes and may be less likely to rise dramatically.
For maximum gains, traders may consider diversifying a portion of their portfolio into small-cap alts, including new tokens holding pre-sales.
Such pre-sale coins often generate a lot of momentum by the time they get listed on an exchange and can have an enviable rise.
One coin that is likely to achieve this is 5th Scape (5SCAPE), an upcoming decentralized VR gaming platform.
5th Scape began pre-sale a few weeks ago and, encouragingly, has already raised over $4.5 million.
🚀 Presales have skyrocketed beyond stage 3!
🌐 Join now and delve into the world of virtual reality with your multi-utility token.
🎉 Don't miss out on becoming part of our vibrant community! #cryptocrash #cryptocrash #wormhole #cryptocurrency #5thScape #Pre-sale #4thstage 🌟 pic.twitter.com/QeznEVAvFJ
— 5thscape (@5th_scape) April 4, 2024
5th Scape is unique in the presale coin space insofar as it has underlying utility and some very strong fundamentals.
The company's Ethereum-based platform is set to launch in the coming weeks and will feature a variety of interesting games.
These include online fighting game Cage Conquest, racer Thrust Hunter, and soccer title Immersive Kickoff.
All of these games are multiplayer, and 5th Scape will be releasing its own VR headset as part of its launch.
Within that ecosystem, the native token 5SCAPE serves as a means of accessing 5th Scape's platform and making payments for various services and products.
The total supply will be 5.21 billion tokens, and the pre-sale aims to raise $15 million.
🌟 Introducing the VR Ambassador Program! 🚀
Experience the world of virtual reality with the 5th SCAPE VR Ambassador Program! 💫
Join as an “Early Whales” member and enjoy exclusive benefits! 💎
Method
1️⃣ Invest $10,000 or more in $5SCAPE and spread our voice online
2️⃣ Actively participate in social media… pic.twitter.com/cgIryEPsiT— 5thscape (@5th_scape) April 1, 2024
Investors can participate in the sale by visiting: Fifthscape official websitethe cost of 1 5SCAPE token is $0.00285.
Once the tokens are claimed after the sale ends, holders can stake their coins and earn passive income in the process.
Therefore, there is a chance that the coin could bring big returns to early investors and enjoy one of the biggest launches of the year.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
