Source: Dall•E 3
The Ethereum price has held still in the past 24 hours, although the altcoin has risen by 0.5% in the past hour.
This may signal an incoming rally, and with ETH standing at $1,889, it has already gained 4% in a week and by 15% in the last 30 days.
It’s also attracting trading volume in excess of $10 billion, representing a marked increase to the lower levels (e.g. as low as $3 billion) it saw in early October.
As such, now may be a good time to buy, before the next potential bull market really kicks in.
Ethereum Price Prediction as $10 Billion Comes In – Time to Buy?
The Ethereum price may have dipped in the past day, but its overall momentum remains largely strong.
Its relative strength index (purple) continues to hover above 70, signalling good buying pressure that’s supporting the coin’s price.
Source: TradingView
Likewise, ETH’s 30-day average (yellow) is rising quickly towards its 200-day (blue), with a potential golden cross likely to indicate a breakout in the next few days.
The other major bullish sign is ETH’s support level (green), which has reached much higher levels in the past couple of weeks.
This would suggest that ETH is unlikely to fall below $1,800 again, and with its trading volume remaining relatively elevated, it could easily further gains in the coming days and weeks.
19,634 #ETH (37,457,633 USD) transferred from unknown wallet to #Coinbasehttps://t.co/zpSzxBJkwK
— Whale Alert (@whale_alert) November 5, 2023
That said, transfer data indicates that whales are generally sending ETH to exchanges at the moment, so the altcoin could have a wobble before it rises again.
Either way, there’s little doubt that the Ethereum price will be one of the main beneficiaries of the next bull market.
This is largely because it boasts some of the best fundamentals in the cryptocurrency market.
On the one hand, its total value locked in – at around $23.85 billion – accounts for more than half of the DeFi sector, a clear sign of its importance to DeFi, Web3 and other sub-sectors.
And on the other hand, it continues to attract some of the most notable adoption in crypto, as attested by this year’s announcements from PayPal and Coinbase, among others.
Then there’s the fact that ETH itself becomes deflationary during periods of peak Ethereum usage, with burning exceeding issuance.
#Ethereum‘s total supply has once again transitioned to a deflationary state. pic.twitter.com/qz8vMDHNEy
— ᙢinus ᙡells (@MinusWells) November 6, 2023
This all points to a steadily rising Ethereum price over time, with periods of bullishness likely to benefit ETH more than other coins.
As such, ETH is likely to reach $2,000 in the next month.
Other Altcoins With High Potential
However, it’s arguable that a good, diversified portfolio should include more than established coins such as Ethereum, with a number of new alts also looking promising right npw.
One of these is TG.Casino (TGC), a decentralized casino that has raised more than $1.7 million in its presale.
We have just reached $1.7 million raised in presale for $TGC
LFG players! We have some exciting things coming this week pic.twitter.com/uSDU3XEkv9
— TG Casino (@TGCasino_) November 5, 2023
Having already launched its platform, TG.Casino now boasts over 1,000 active players, more than a $1 million in deposits and $10 million wagered.
For such a young project, these figures providing encouraging signs of growth.
Yet what’s also interesting about TG.Casino is that it operates on Telegram, where it already has more than 5,000 members on its channel.
It announces and conducts bets on its Telegram channel, with the app’s social element motivating users to keep playing.
We’ve been quietly growing, it’s time for our first public release of Casino numbers, from launch…
Players have wagered $10 Million+
Casino players has surpassed 1200+
Total deposits has exceeded $1 Million
Join our Community TG for more info. pic.twitter.com/OdJCCevITf
— TG Casino (@TGCasino_) November 2, 2023
It’s also worth pointing out that, as a casino, TG.Casino features a wide and expanding array of gambling experiences, from traditional card games to betting markets related to sports.
Users who win their bets receive native token TGC as their rewards, while those who place bets using the token receive 25% cash back on any losses.
Investors can buy some before it lists – and potentially moons – by heading over to the official TG.Casino website.
1 TGC currently costs $0.15, yet this could easily rise much higher once the sale ends and exchanges list the token.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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