The panic in the altcoin market just got a step higher as the Ethereum price crossed below $2,100 today, extending the long bearish move. Investors' pains have been compounded in the last few weeks as the Ethereum price keeps dropping below major supports, and the recent drop might indicate a bigger drop yet to come. Similarly, the PEPE coin has continued wiping out its profit from the 2024 bull run, dropping over 70% since the year's opening.
But where could the money move as the top altcoins and meme coins continue showing drastic price drops? A recent analysis shows a new PayFi coin getting most of the ETHwhales' money, showing a high prospect token. Could this be the new way to move? Here is the breakdown.
Ethereum Price Breakout And Direction This Year
While Ethereum's recent inclusion in the crypto market is seen from a bullish point of view across the market, its reaction has been mostly bearish. Taking a technical approach to the analysis, the Ethereum price has broken below three significant supports in the last few months since the year began. These are the supports at $2900, $2300, and $2000, with the most recent breaking below $2000 today to trade at a low of $1991.
However, while fundamental factors continue to build up bullish sentiments, the technical analysis of the Ethereum price keeps showing further drops. An analysis of the Ethereum price using the latest developments as a determinant shows that the price could see a breakout to the upside in the coming months. Meanwhile, this is merely speculative as the whale wallet tracker shows the whales continue moving out funds by the day.
Why PEPE Coin Investors Keep Dropping Out
The re-emergence of Donald Trump in the white in January this year came with a wild meme coin rush. This includes new memes that carry the president's endorsement, such as the Trump coin. However, while the new meme coins saw a big surge, with some reaching as high as 20x within a few days, the old players like PEPE were primarily bearish. This has led to the hypothesis that the new memes drive attention away from the old ones.
However, PEPE price's 72% drop in the last 90 days has also prompted a new theory that its investors are now moving to a better utility token. While this revelation is not new, it is projected to drive an even more bearish downturn for the PEPE coin as more investors continue to take action.
Is Remittix A Long-Term Investment Bet?
The Remittix new presale token has been identified as the primary asset receiving the most funds from the ETH and PEPE whales. However, while this new token continues to make waves as the top presale option in the market, is there a long-term prospect for the coin after its presale? The Remittix exchange has been fueling the optimism around the Remittix tokenin presale. This is because of the long-term projection of the Remittix exchange's influence on the crypto market, as analysts believe the exchange could drive the higher adoption of the token.
The Remittix presale token has become a sensation in the last few months, raising over $13.8M and selling more than 517M tokens in the presale. Investors' optimism around this new token could make it a major contender to the top altcoins in the coming months. However, while the ETH whales have been noticed to be joining this new token in droves, new investors' actions have also continued to surge.
The Remittix solution in the crypto market has much to unpack, but you can read more about this innovative asset online. Right now, the best step for any investor is to catch the Remittixtoken while it's still in presale. With the price at $0.0734, investors can earn during and after the presale.
Catch more information about the Remittix presale and how to start investing in it with the links below.
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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