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Can ETH maintain its uptrend?

Can ETH maintain its uptrend?

Ethereum price continues to attract attention. In the last 24 hours, ETH recorded a 1.4% increase from a key support level of $2,300 and a price of $2,411. This leaves many wondering: Will Ethereum maintain this upward trend?

Current Ethereum price movements

Ethereum (ETH) is showing signs of recovery and moving within a triangle pattern. Recently, ETH price recovered from $2,332, an important level related to the Fibonacci extension. If ETH continues above, it could reach $2,598, which is in line with the daily 0.618 Fibonacci extension. Volume has increased by 67%, indicating growing interest in the market.

On the other hand, if Ethereum fails to hold the $2,300 mark, it could fall to $2,100, a 12% drop from the current price.

Institutional Activity: How Whales and ETFs Impact Ethereum Price

Ethereum price is facing challenges due to low institutional demand. US spot ETH ETFs reported $560 million in outflows, led primarily by Grayscale’s ETHE. This reflects the cautious behavior of the large owners.

Additionally, major whale wallets, including those linked to the Chinese government, have started selling $1.3 billion worth of ETH. This, along with other ETH news, could increase selling pressure and impact the ETH-USD price.

Ethereum network growth and long-term prospects

Despite some concerns, Ethereum fundamentals remain strong. The network has undergone major upgrades, including Ethereum staking via the Beacon Chain, with over 34.7 million ETH staked. This represents almost 28.8% of the total ETH supply and strengthens Ethereum as the leading Layer 1 blockchain. Similar positive developments have recently improved the outlook for another major altcoin, Ripple (XRP).

In the DeFi space, Ethereum holds $44 billion in TVL and has a stablecoin market cap of $84 billion. Key projects like Uniswap and OpenSea are contributing to Ethereum’s dominance and showing continued growth.

Beyond ETH: Why Minotaur ($MTAUR) is catching the attention of ETH holders

With Ethereum experiencing a surge recently, many crypto enthusiasts are betting heavily on it. While ETH shows promise, diversifying your holdings can be a smart move. A buzz on social media is making Minotaur ($MTAUR) a favorite among ETH holders, making it an exciting alternative to consider.

It has already reached $100,000 in presales, still offering potential buyers an affordable entry point. This means you can get tokens for $0.00005964 – a 70% discount from the list price. Minotaur ($MTAUR) stands out from other ICOs because of its real in-game utility. Industry experts and thought leaders believe that Minotaur is more than just hype – it is built for the long term.

Additionally, Minotaur recently announced a $100,000 giveaway for pre-sale buyers. With 100 winners and a grand prize of $50,000, the odds are good! Owner referral and vesting programs also demonstrate that Minotaur puts community first.

So why wait? The early bird advantage is obvious, so it’s best to explore Minotaur ($MTAUR) now while pre-sales are still ongoing!

Diploma

The Ethereum market is showing resilience despite significant institutional outflows and whale activity. While the support level at $2,300 remains crucial, the price’s ability to recover signals strong underlying demand. If Ethereum maintains its current price and breaks the $2,598 level, it could continue its uptrend. However, owners should keep external factors in mind.

If you want to ride the Ethereum wave with confidence, adding Minotaur ($MTAUR) to your investment portfolio could be a smart move. This token is full of potential, offers low entry costs and an exciting chance for serious profits. But hurry – the presale token pool is getting smaller by the minute.