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The Ethereum value slumped 5% within the final 24 hours to commerce at $2,401 as of 03:43 a.m. EST on buying and selling quantity that soared 33% to $15 billion.
This comes as Ethereum lending markets confronted the second-largest wave of liquidations after the 2021 market correction. The liquidations got here after the Ethereum value dropped 22% prior to now month.
Within the final 24 hours, Ethereum has recorded over $50.11 million in liquidations, based on knowledge from CoinGlass.
Ethereum Worth Prediction: Ethereum Worth Gearing Up In the direction of A Breakout
From August 25, the Ethereum value bears took management of the value, capitalizing on the rounding high sample. The token went by way of a correction to the $2,406 help zone, and has since been in consolidation, buying and selling inside the sideways sample.
ETH bulls are presently struggling to push the value above the $2,578 resistance zone.
ETHUSDT Chart Evaluation (Supply: Tradingview)
The bears pushing the value from the higher boundary of the sideway sample to the decrease boundary has compelled ETH to commerce beneath each the 50-day and 200-day Easy Transferring Averages (SMAs).
Though the Relative Energy Index (RSI) nonetheless trades inside the 30-oversold area, it exhibits indicators of a rebound, presently at 37 and climbing.
If the shopping for stress picks momentum right here, the value of Ethereum may rise by way of a rebound to interrupt out of the sideways sample, because the bulls goal $2,800.
Nevertheless, if the bears breach the $2,350 help zone, ETH may drop additional to the subsequent help at $2,200.
In the meantime, different traders are shifting to the brand new Olympics-themed meme coin mission The Meme Video games (MGMES), with solely 4 days left till its presale ends.
In line with 99Bitcoins, a preferred crypto channel on YouTube, MGMES may soar 100x after its launch and may be the subsequent PEPE or BRETT.
The Meme Video games: Subsequent 100X Crypto?
New meme coin The Meme Video games ends its presale on September 8, coinciding with the final day of the Paralympics in Paris, earlier than token declare and launch on DEXs on 10 September.
There are nonetheless 4 days left to purchase and win a 25% token bonus because the fundraising passes the $417k mark.
The mission attracts inspiration from the 2024 Olympics, which blends crypto meme coin enthusiasm with the spirit of athletic competitors.
CRYPTO BREAKING NEWS
The Meme Video games raises over $100K on opening day of presale. The Meme Video games presale raises over $100K in its first 24 hours, capturing consideration within the booming memecoin sector. #partnercontent examine us out @ https://t.co/8dh137buUp pic.twitter.com/YwzyP2glE4— InnovatekMobile (@Neome_com) July 17, 2024
Members can select Dogecoin, Pepe, Dogwifhat, Brett, and Turbo, and watch them compete for gold medals. Every token buy lets patrons select a meme athlete who would possibly win further tokens.
Choosing a meme athlete takes place randomly and is verified by blockchain expertise, which ensures equity.
Token holders can earn passively from the mission’s staking mechanism by shopping for and staking $MGMES for a share yield (APY) of 466%.
You should purchase $MGMES tokens for $0.0094 every. However purchase quickly to lock in the perfect deal as a value hike will are available lower than 2 days.
To affix the presale, purchase $MGMES from the official web site right here utilizing ETH, BNB, USDT, or a financial institution card.
Associated Information
Most Searched Crypto Launch – Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards – pepeunchained.com
- $10+ Million Raised at ICO – Ends Quickly
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