Right now, the crypto market is treading water with investors playing it safe and big firms changing their game plans. Retail investors, as indicated by a Deutsche Bank survey, predominantly anticipate a further decline in Bitcoin’s price, with over a third predicting it to drop below $20,000. Concurrently, significant movements in the ETF sector, as reported by CoinDesk, show ARK Invest actively adjusting its holdings, buying a substantial amount of its own ARK 21Shares Bitcoin ETF while selling off portions of the ProShares Bitcoin Strategy ETF.
Despite recent jitters in the crypto scene, Bitcoin has bounced back a bit, climbing 2.70% today—although it did take a slight hit of 0.64% over the last week. Its market capitalization stands at a robust $804.36 billion, with a trading volume of $22.19 billion in the last 24 hours. Ethereum, another major player in the crypto space, hasn’t fared as well this week, with a decrease of 9.28% in its value. Ethereum’s market capitalization is currently at $269.11 billion, and it has seen a trading volume of $10.52 billion in the past 24 hours.
In the context of these market movements, ScapesMania (MANIA) is emerging as a noteworthy presale project, capturing attention with its potential for more predictable trends, a notable characteristic in the otherwise highly volatile cryptocurrency landscape.
Ride The Wave Of Innovation With ScapesMania
As the ScapesMania (MANIA) presale nears its completion in February, the team is working hard to secure a quick listing on popular exchange platforms. There is a good probability that the token’s value will increase exponentially after the listing.
The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry.
Moreover, the token’s utility is impressive. It’s not another meme coin whose success relies heavily on trends and hype. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem.
As the presale is wrapping up, you need to act fast and grab your discounted tokens now! The countdown is on – don’t let this chance pass you by.
Presale is Live Now – Join Now for a Chance to Benefit with MANIA
ScapesMania, a player in the $376 billion gaming industry, leverages the market’s growth potential. Post-exchange debut, holders can anticipate greater liquidity and easier trading.
The community’s excitement about the project is evident so far, with $4,900,000+ collected to date from crowd/retail contributions alone. The follower count has reached 60K+ and showcases a weekly growth of 12%.
The growing interest from crypto whales with checks of $20,000+ might expedite ScapesMania’s transition from niche to mainstream.
ScapesMania’s smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the award-winning team behind ScapesMania secured a prestigious grant from a prominent player in the blockchain industry.
Furthermore, ScapesMania is notable for putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is where ScapesManias stands out.
Make sure you don’t pass up the opportunity to get the early bird discount as the presale nears its end. Be quick if you want to get your hands on those lucrative tokens before they’re all gone.
Presale Ending Soon — Secure a Discount Now!
Ethereum in the Spotlight: SEC’s Hold on Major ETF and the Billion-Dollar Sell-Off
Ethereum’s landscape is buzzing with activity, especially with the SEC hitting pause on a major ETF proposal. The SEC hit the pause button on BlackRock’s bid for a spot Ethereum ETF, prolonging the wait for investors. The SEC is taking its time to think over BlackRock’s pitch for an Ethereum-based exchange-traded fund, set for review in March, signaling they’re treading carefully with crypto investment offerings.
Meanwhile, Ethereum itself is on everyone’s lips with about a billion dollars pulled out in a major sell-off that’s turning heads, which could change how stable its price is and who’s holding the cards. Celsius, a crypto financial services firm, is identified as the entity responsible for transferring a massive 459,561 ETH, valued at approximately $1.014 billion, to various exchanges. This transaction included moving 297,454 ETH to Coinbase Prime and 146,507 ETH to Paxos Treasury, with smaller amounts to FalconX and Coinbase. Despite this sell-off, Celsius still retains a considerable reserve of ETH. Such a large-scale move has put immense pressure on Ethereum’s market, potentially impacting its liquidity and price stability.
Ethereum (ETH) Technical Analysis
In the technical analysis of Ethereum (ETH), the Relative Strength Index (RSI) stands at 59.89, indicating neither overbought nor oversold conditions. The Stochastic %K is at 72.02, suggesting some bullish momentum. The Commodity Channel Index (CCI) at 136.71 points to a growing bullish trend. However, the low Average Directional Index (ADX) of 13.87 shows a lack of strong trend direction. The MACD Level at 6.19 and the Awesome Oscillator at 22.59 provide further confirmation of current bullish signals.
The 10-day Simple Moving Average (SMA) at $2226.37 and the 200-day SMA at $2358.42 suggest a potential consolidation phase. The immediate support levels are at $2375.39 and $2295.48, while resistance levels are observed at $2573.47 and $2691.64.
Ethereum (ETH) Price Prediction
Ethereum’s (ETH) price movements are likely to be influenced by a combination of technical indicators and fundamental developments. The SEC’s decision on BlackRock’s spot Ethereum ETF proposal, now postponed to March, and the discussion of potential approval by an SEC commissioner, are pivotal. The SEC’s hesitation on BlackRock’s Ethereum ETF, coupled with a commissioner weighing in, could sway how investors feel about diving into the market.
Technically, immediate support and resistance levels at $2375.39 and $2573.47, respectively, will be crucial to watch. The bullish scenario for Ethereum could see it testing the next resistance level at $2691.64, especially if investor sentiment improves following the potential approval of an Ethereum ETF. If an Ethereum ETF gets the green light, we could see prices surge, maybe even hitting that $2700 target.
Shifting gears to the downside, Ethereum’s hefty $1 billion sell-off paints a picture of changing investor moods, which could spell more trouble for prices if this trend doesn’t let up. If the ETF proposal faces further delays or rejection, ETH could fall towards its immediate support at $2375.39. A break below this level might lead to a test of the next support at $2295.48.
Ethereum’s future price action will likely be influenced by these key technical levels and the evolving fundamental landscape.
Closing Thoughts
So, zooming in on Ethereum, we’re seeing it at a pivotal point where hopeful signs and caution flags are both waving—think of it like standing at a crossroad with one foot poised to step forward into growth or take a cautious shuffle back. On one hand, Ethereum’s technicals, like the 10-day SMA at $2226.37 and the immediate support at $2375.39, show potential for stability and growth, especially if the SEC approves the proposed Ethereum ETF.
On the flip side, factors like the recent $1 billion sell-off and the delay in the ETF decision could lead to price dips, testing lower support levels. Ethereum’s fate swings with the market’s mood and what regulators decide, keeping investors on their toes.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
