Crypto Price Today: Will Bitcoin and Ethereum Regain Support Level? Tradecurve Stage 3 50% Sold Already

Crypto Price Today: Will Bitcoin and Ethereum Regain Support Level? Tradecurve Stage 3 50% Sold Already

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VanEck has made a bold prediction, suggesting that Ethereum will reach $50,000 by 2030. The investment management firm's claim is based on Ethereum's presence in crucial industry sectors and its potential to revolutionize finance, banking, payments, social interactions, gaming, and infrastructure. 

Ethereum's token supply reduction, where transaction fees result in Ethereum burning, contributes to its value. The question is not if, but when, will Ethereum reach support levels and all-time highs due to its enduring demand? Looking at the chart, it is evident that bulls have maintained their position above the falling wedge pattern's resistance line, indicating demand at lower levels.


Glassnode's Ethereum and Bitcoin Analysis

Glassnode has focused its attention on Bitcoin and has identified an upcoming transition point in the market cycle. This transition, coupled with macroeconomics and price action for Bitcoin and Ethereum, is expected to lead to increased price volatility. 

Given the ongoing SEC situation, the macro environment will become more unpredictable from next week onwards. Despite this uncertainty, the price of Bitcoin has managed to stay above the crucial support at $25,000, suggesting that recent SEC events are already factored into the price. 

Traders are keen to buy the dip, with notable figures like ARK Invest CEO Cathie Wood investing millions of dollars in Coinbase stock and Block Inc. shares.


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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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