The past week has been a rough ride for Ethereum (ETH) bulls, as the coin tumbled to almost $3,000 across major exchanges amid the crypto market’s ongoing recovery from October’s liquidity crunch.
However, ETH dropped back to $3,150, as the macroeconomic anxieties from the US-China trade war eased, and normalcy seems to return on the liquidity front for ETH.
The previous growth comes on the back of Cathie Wood’s Ark Invest adding $9 million in investment in Ethereum Treasury’s BitMine Immersion Technologies (BMNR), and her lowering her 2030 Bitcoin price target.
Recently, ETH/USD broke out from $3,200, indicating a strong bullish push and aggressive buying in that region. A continued bullish run to $3,700 could help the coin finally surpass again the elusive $4,000 mark before the year closes.
A failure to hold above the $3,100 could be a risky move for bulls and continue the price drop to $3,000 and even further.
Healthy Volumes For ETH, Could It Hit $5k in 2025?
As traditional markets closed on Friday, investors turned to the crypto market, bringing in the much-needed liquidity, especially across the top coins. On Binance, ETH/USDT is topping the volume charts, as of writing, with $35 billion.
The sudden interest in ETH could be a catalyst for the crypto markets as investors try to pile up their crypto positions before a possible bullish run at the end of the year. Nonetheless, fear persists in the market as Bitcoin ETFs experienced the seventh straight day of outflows on 8 of November, setting their largest daily outflows since the start of August. U.S. spot bitcoin ETFs shed $558 million on Friday, as the crypto dipped below the $100,000 mark, while ETH ETFs saw modest outflows, but set a long streak of outflows.
Institutions are still fearful of the crypto market, but confidence across the retail market is steadily growing. The upcoming Fusaka upgrade on December 3 could provide a catalyst for ETH, as developers target a hard fork that will introduce a dozen Ethereum Improvement Proposals (EIPs) to the network.
ETH/USDT technical indicators, the RSI and MACD, continue to suggest the coin has another leg up to go, and a market bullish reversal combined with favorable macroeconomic conditions could push ETH back to all-time high prices. Could $5,000 be on the cards?
According to Polymarket, the leading crypto predictions market, there is a slight 5% chance for Ethereum to cross the $5,000 mark this year, with a consensus of $4,200 being the target at year’s close.
The market’s recovery has seen the return of presales to the crypto scene, with noteworthy action taking place in the gaming scene with Earth Version 2 (EV2) currently running its presale.
EV2 is a AAA free-to-play open-world looter shooter game that combines fun with ownership, allowing players to own the game while competing and winning prizes.
The presale differentiates itself from its predecessors by offering multiple funding stages, giving early investors an early return in later rounds. The $EV2 token presale is currently priced at $0.01 per token. Investors can buy a minimum of 5,000 $EV2 tokens. Additionally, inventors can stake their tokens on the platform and earn rewards before the game launches its mainnet.
$EV2 is also a utility token that allows holders to participate in the game and win. Players engage in intense PVP modes and tournaments, compete for massive cash prizes, and acquire rare and unique limited-edition Digital assets. The public presale stage rounds will have 40% of the total tokens on sale, allowing holders to participate in the in-game economy.
According to the official Earth Version 2 website, the token will be used to fuel upgrades, as player rewards, and for marketplace upgrades.
“Every token earned or spent drives real value, creating a closed-loop system where skill and strategy directly translate into profit.”
EV2 will launch on Steam, the Epic Games Store, and Windows PC when it arrives, but early investors can join the whitelist by pre-registering on the EV2 website to receive a free Epic Gun Skin to use from launch.
A Bullish End To 2025?
The bearish start to November may have caused panic and fear across crypto markets, but the weekend recovery could be a reprieve to crypto bulls and optimists. As technical indicators point to a bullish month, retail and institutional investors will be adding to their positions, showing a positive close to 2025.
A $4,000 price mark is on the cards. However, for investors and gamers looking for the next fresh catch, Earth Version 2 could be the next big thing in the metavere world. Keep your heads up, bulls, the year could just get better!
This publication is sponsored. Coindoo does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or any other materials on this page. Readers are encouraged to conduct their own research before engaging in any cryptocurrency-related actions. Coindoo will not be liable, directly or indirectly, for any damages or losses resulting from the use of or reliance on any content, goods, or services mentioned. Always do your own researchs.
Krasimir Rusev is a journalist with many years of experience in covering cryptocurrencies and financial markets. He specializes in analysis, news, and forecasts for digital assets, providing readers with in-depth and reliable information on the latest market trends. His expertise and professionalism make him a valuable source of information for investors, traders, and anyone who follows the dynamics of the crypto world.