The post 2024 Crypto Trends & Projections: BlockDAG’s Bold Leap to $30, Ethereum’s $4K Challenge, Hedera’s Struggles appeared on BitcoinEthereumNews.com.

The world of cryptocurrency continually reshapes the financial domain with its volatile swings and immense growth potential. Ethereum is currently up against the crucial $4,000 resistance level, indicating investor hesitation. In stark contrast, BlockDAG has broken records with a massive $52.5 million from its presale, signaling robust market acceptance and bright prospects. Meanwhile, Hedera is experiencing sluggish market dynamics, struggling to maintain momentum in an uncertain trading environment. Hedera’s Market Conditions Over the past month, Hedera has seen a 10% reduction in its price, now at $0.1031. Despite this dip, futures traders are optimistic, shown by an 18% rise in HBAR’s futures open interest since the beginning of June, suggesting increased market engagement. Positive funding rates since early May indicate a leaning towards long positions, implying possible price uplifts to $0.105. However, if downward pressures dominate, the price could drop further to $0.09. Presently, HBAR is hovering around its 20-day Exponential Moving Average (EMA), showing no clear trend direction. This condition highlights a careful optimism among traders. Ethereum’s Resistance Encounter at $4,000 Ethereum recently retreated to $3,880 after facing stiff resistance at $4,000. The crypto’s value slid from a peak of $4,020, falling below the $3,950 support level and the 100 hourly simple moving average. A significant bearish trend line is visible with resistance near $3,940 on the ETH/USD hourly chart. Ethereum found some footing near $3,850 and managed a slight rebound above $3,880, facing resistances at $3,920 and $3,950, with substantial hurdles near $4,000. If Ethereum cannot breach the $3,950 resistance, it might continue to decline, with the next supports at $3,850 and $3,800. Conversely, overcoming $3,950 and $4,000 could ignite a new rally towards $4,100 and $4,200. Ethereum needs to surpass these obstacles to sustain upward momentum; otherwise, failing to do so could exacerbate the downward pressure, risking…

---

Filed under: News - @ June 22, 2024 3:14 am