ETH, the native cryptocurrency of the Ethereum blockchain, is currently trading at about $1,271, up about 7% over the past seven days.
The cryptocurrency gained 6.5% on its own on Wednesday, as traditional risk assets like US stocks rallied after a more dovish than expected message from the board chairman. Federal Reserve American, Jerome Powell, on the prospect of further rate hikes in the coming months.
Ethereum traded slightly lower on Thursday, but has gained nearly 18% since printing a double bottom earlier this month below $1,100. The publication of new price data (Core PCE Price Index) seems to support the possibility that inflation in the United States is faster than expected, which may lead the central bank to abandon its monetary tightening policy. As a result, the US Dollar has seen a strong sell-off and US stocks can easily find new buyers, creating the conditions for ETH to rise further.
Price predictions for Ethereum
ETH bulls are considering a test of the 50-day moving average at $1,335, the 100-day moving average at $1,400, and the 200-day moving average at $1,470. But even if Ethereum manages to surpass all of these levels in the coming weeks amid a rally in the crypto market fueled by this newfound optimism, that doesn’t mean the cryptocurrency is out of the woods.
Ethereum is in a downtrend with limited positive price action since late summer 2022. It needs to hold well above $1,500 to break this trend. Cryptocurrency continues to suffer the effects of the brutal collapse of FTX at the beginning of last month still evaluating the general sentiment of the market, so the rise of more than 25% from the current level would be premature.
However, if Ethereum is able to break out of its current trajectory, then its price could be set to test the September highs in the $1,800 area, as well as the August highs reached during the post-optimism peak. the Fusion, in the area of $2,000. This would mark a whopping 60% increase from current levels.
Closing the Ropsten testnet
Ethereum developers are shutting down one of the network’s most popular public testnets, Ropsten. According to one of the main developers of Ethereum, Tim Beiko“Many infrastructure (fabric) providers and validators have stopped supporting the network, and we expect others to shut down their nodes in the coming weeks.”
The closure of the testnet is widely expected and will be followed in mid-2023 by the closure of the Rinkeby testnet. Developers who relied on these testnets moved their projects to the Goerli and Sepolia testnets, which will continue to be used for years to come. Since the merger, Ropsten and Rinkeby are no longer considered appropriate environments for application testing and development.
Dash 2 Trade (D2T)
Those looking to invest in a promising crypto trading platform should keep a close eye on Dash 2 Trade. The emerging social analytics and trading platform stands out in the crypto trading space with its many unique features. It includes trading signals, social and on-chain sentiment indicators, pre-sale token rating system, token quote alert system and back-testing tool strategy.
The Dash 2 Trade ecosystem will be powered by D2T tokens, which users must purchase and hold to access platform functionality.
Dash 2 Trade is currently running a pre-sale at deeply discounted prices. D2T token sales recently exceeded $7.65 million and the pre-sale will soon enter its fourth phase, which will see the price of the token drop from $0.0513 to $0.0533.
RobotEra (TARO)
RobotEra (TARO) is a Sandbox-style metaverse that will allow players to participate in the creation of a virtual world of robots, including land, buildings, and other NFT-based game elements. An alpha version will be launched in the first quarter of next year and the game will allow players to connect to other metaverses, thus creating a multiverse where NFTs from different platforms can interact.
1 TARO is currently trading at 0.020 USDT (it can be bought in USDT or ETH), although this price will drop to 0.025 USD in the second period of its pre-sale.
Calvary (RIA)
Calvaria (RIA) is a game where players can collect, trade, and battle using NFT-based cards. Besides incorporating play-to-earn features, it will also allow users to play it without holding cryptocurrency, making it more popular than other blockchain-based titles.
RIA will be used within its ecosystem for purchasing in-game items and for staking, giving it a strong use case. The pre-sale of the token raised $2.1 million and is now in its fifth stage, with 1 USDT buying 30.77 RIA.
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