Ethereum Price Forecast: ETH Support Decreases
Cryptocurrency enthusiasts are closely monitoring the Ethereum price prediction as ETH faces downward pressure, trading at $3,336.09 with a red day seen across major exchanges. The market is dominated by macro fear, but attention is shifting towards meme tokens and low-cap presales. One such coin, Maxi Doge, a meme token on Ethereum, has seen an impressive presale, raising over $3.92 million, offering high staking rewards while Ethereum struggles.
The current state of Ethereum is precarious, with the price hovering over critical support levels. The price of $3,336.09 reflects a daily drop of 1.36%, and Ethereum is teetering on a key support zone that has been tested multiple times this month. With the RSI at 31, indicating deep oversold territory, and a volume of $37.07 billion in 24 hours, Ethereum’s ability to hold this support will not only determine its short-term bounce but could also impact the trajectory of altcoins and presale markets.
Despite the potential for a short-term bounce back towards $3,900 if bulls step in, there are risks involved. Failure to hold this support could trigger a deeper pullback, possibly leading to wider panic across the altcoin space. Traders are watching Ethereum closely, with concerns about exhaustion setting in as the token struggles to reclaim $3,900, a major resistance level. Whales offloading and weakening momentum could further weigh down Ethereum, trapping it in a sideways or bearish channel if macro sentiment remains heavy.
Renowned investor Robert Kiyosaki has issued a “massive crash” warning once again, highlighting assets such as silver, gold, Bitcoin, and Ethereum as safe holds. While some may be skeptical of his warnings, the current weakness in Ethereum’s chart aligns with the risk of a breakdown. If Ethereum fails to hold support, there is a real threat of a sharp move to the downside, with levels such as $2,900 or even $2,500 coming into play. The narrative around Ethereum’s price prediction could shift rapidly from recovery to capitulation if support levels are breached.
Meanwhile, as Ethereum struggles, Maxi Doge is gaining momentum in its presale activity. The token, built on Ethereum, has garnered attention for its strong tokenomics, offering a current price of $0.000267 and staking rewards of 79% APY. With a presale that has already raised over $3.92 million and a fast-approaching next price increase, Maxi Doge is positioning itself as an attractive option for ETH holders looking for positive returns amid market uncertainty.
