The Ethereum price has risen to $1,216.65, marking a 12% increase from the lows recorded on Thursday as the FTX collapse had triggered a major market sell-off. Its current price also represents a 2% increase in the last 24 hours, although the second-largest cryptocurrency has fallen 20% in the last 14 days as ongoing upgrades struggle to quell the ongoing pessimism.
Despite the negativity of the past few months, ETH owners have plenty of reasons to be optimistic. Ethereum remains the largest layer-1 blockchain in terms of total value embedded, while the positive effects of the shift to proof-of-stake are only just beginning to make themselves known, with ETH becoming deflationary recently.
Ethereum Price Prediction – ETH Up 12% From Recent Lows, How High Can It Go?
ETH’s indicators remain indecisive. Its relative strength index (purple) has risen to 40 in the past few days, up from just below 30, but it has been hovering around this level for the past week, so it’s hard to say where it might go.
ETH’s 30-day moving average (red) also remains below its 200-day moving average (blue), suggesting that the coin remains in a downtrend. That said, the fact that both indicators are low suggests that sooner or later ETH will make a rebound rally.
With the market still recovering from FTX’s bankruptcy, it is of course sooner rather than later. This is largely because the collapse of the world’s second-largest exchange is likely to have contagion effects yet, with crypto-based lender BlockFi reportedly preparing for bankruptcy after pausing operations and admitting “significant exposure” to FTX.
With other exchanges suffering apparent pullback runs, it is still very possible that further dominoes could fall in the coming days and weeks. This would mean further losses for the market, something that will certainly not spare ETH and its price.
That said, the industry is well aware of the risk of contagion, with some players taking steps to prevent such a thing. For example, Binance CEO Changpeng Zhao recently announced the creation of an industry recovery fund that would help companies experiencing liquidity problems.
Additionally, ETH fundamentally remains one of the strongest coins on the market. It successfully completed the transition to a proof-of-stake consensus mechanism in mid-September, while being by far the largest layer-1 blockchain in terms of total value embedded.
ETH has also become deflationary since the September merger, with fewer new coins being released and more coins being burned. This only enhances the optimistic case for the more distant future, with a large increase once the market and the global economy are back on track.
According to a number of experts, the target for ETH is around $5,154 in 2025. In the shorter term, owners can hope that it will regain its previous levels as seen earlier this year, when the coin traded close to $2,000. was in August.
Presale coins may rally earlier
While ETH may have to wait until next year for a significant rally, newer coins have more potential for short-term gains.
This is especially the case for newly launched coins that have their pre-sale and then list, with initial listings giving early investors large, above-average profits.
For example, Tamadoge (TAMA) has recorded a profit of 1,800% compared to its retail price in October when it was listed on OKX. In addition, Battle Infinity (IBAT) increased by more than 260% when it became tradable at the end of August, compared to the sale price of €0.015.
While these two coins have already ended their respective presales, these three tokens have their own presales below. Each of these has a strong foundation that allows early investors to achieve significant returns.
Dash 2 Trade (D2T)
Based on the Ethereum blockchain, Dash 2 Trade is a trading intelligence platform where investors can access real-time analytics and social data, enabling them to make more informed decisions. The platform will launch in Q1 2023 and the sale of the original D2T token has already delivered more than €6.4 millionwhile also announcing listings on BitMart and LBank Exchange early next year.
Visit Dash 2 Trade now
Robot Era (TARO)
Another Ethereum-based platform is RobotEra. RobotEra (TARO) is a sandbox-like metaverse that allows players to play as robots and participate in the creation of its digital world. The alpha version is expected in the first quarter of 2023, with the ecosystem allowing users to create their own NFT-based land, buildings and other objects in the game.
Investors can participate in the TARO presale by visiting their website where 1 TARO is now worth 0.020 USDT (it can be bought with USDT or ETH). This price will increase to €0.025 in the second phase of the pre-sale, which will start soon.
Visit RobotEra now
Calvaria (RIA) is a play-to-earn video game where players collect, compete and trade NFT-based cards. It has been in development for about a year and the alpha version will be released early in 2023. What sets this game apart from other blockchain-based games is that users will be able to play the game without having to have any crypto, making it more accessible to a larger audience.
In addition, its native token RIA can be used to purchase in-game items and to bet, giving it a strong Use Case in its ecosystem. The presale of the token has already raised more than €1.8 million and is currently in its fourth phase, where 40 RIA can be purchased for 1 USDT.
Now visit Calvaria