Ethereum is Turning Bearish, While This New Cryptocurrency Offers a 1400% Profit
The post Ethereum is Turning Bearish, While This New Cryptocurrency Offers a 1400% Profit appeared on BitcoinEthereumNews.com.
DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . Ethereum (ETH) has recently turned bearish, experiencing a significant 7% price drop that has pushed it below the 200 Exponential Moving Average (EMA), a key technical indicator. This marks the second time since November 2023 that ETH has fallen below this critical threshold, signaling a downtrend. With traders liquidating substantial positions and bearish technical indicators pointing to further declines, Ethereum’s immediate prospects look challenging. In contrast, MoonTaurus (MNTR), a new cryptocurrency currently in its presale phase, is capturing investor attention with a 1400% profit by its launch. This promising token has already raised significant funds in a short period, reflecting strong early interest. With a strategic approach and a well-thought-out roadmap, MoonTaurus presents an appealing opportunity for investors looking to diversify and capitalize on emerging market opportunities. Ethereum Enters a Bearish Phase As Ethereum, the world’s second-largest cryptocurrency, faces turbulent market conditions, it has recently entered a bearish phase. The price of Ethereum (ETH) has notably dropped by 7%, now trading below the 200 Exponential Moving Average (EMA), a crucial technical indicator signaling a downtrend. This decline marks the second instance since November 2023 that ETH has fallen below the 200 EMA, with the first occurrence on July 4, 2024, lasting for nearly six trading days. The latest dip below this key level indicates a sustained bearish trend, raising concerns among investors and traders about the cryptocurrency’s short-term prospects. Adding to the bearish sentiment, a substantial $76.4 million worth of long and short positions in ETH were liquidated, predominantly from long positions amounting to $63.16 million. The consistent price drop and break…
Filed under: News - @ August 6, 2024 12:16 am