The price of Ethereum (ETH) has dropped by 3% in the past 24 hours, with the price slipping to $3,524. Despite this, Ethereum has gained by 5% in a week but lost 12.5% in a month. However, over the past year, it is still up by 89%. There has been an increase in trading volume for ETH in the past couple of days, moving from about $8.6 billion to nearly $18 billion. This surge in volume may indicate that ETH is preparing for a significant move in the coming days, possibly coinciding with the Bitcoin halving event.
ETH’s chart shows signs of recovery, with indicators suggesting improvements. The 30-day average has slowed its descent and may be close to returning to growth. The relative strength index has also increased, indicating that the coin is regaining momentum. The support level has recovered over the past week, signaling a potential period of recovery. The recent increase in trading volume further supports the possibility of a bullish move for Ethereum in the near future.
Large traders have been selling ETH, but the price has not fallen significantly, indicating resilience in the market. Looking ahead, Ethereum is expected to benefit from the post-Bitcoin halving rally and the possibility of spot-based Ethereum ETFs gaining approval. These factors, combined with Ethereum’s strong fundamentals, could drive ETH to rally significantly, potentially reaching $4,000 in the next few weeks and $5,000 by the second half of the year.
For traders looking for alternative altcoins with potential for big rallies, diversifying into small-cap alts and new tokens holding presales could be beneficial. One such token is 5th Scape (5SCAPE), an upcoming decentralized VR gaming platform. 5th Scape has already raised over $4.5 million in its presale and offers a unique platform with underlying utility and strong fundamentals. The platform is set to launch in the next few weeks, featuring multiplayer games and its own VR headset.
Investors can participate in the 5th Scape presale by purchasing 5SCAPE tokens for $0.00285 each. After the sale ends, token holders can stake the coin to earn a passive income. With a total supply of 5.21 billion tokens and a presale goal of $15 million, 5th Scape has the potential to experience a significant launch and provide early investors with substantial gains. The VR gaming platform’s unique offerings and strong fundamentals make it an attractive investment opportunity for those looking to diversify their portfolios.
