Ethereum (ETH) leads the recent market losers after the completion of its transition to PoS known as the Merge. The token fell to $1,400 – a critical support zone – and is looking to take it lower to the $1,200 level as selling pressure continues.
Bitcoin is not performing any better, having declined to an intraday low at $19,441.00 in the same session. A technical analyst says both tokens are nearing a “breakout point” where prices can revisit cycle lows.
With top cryptocurrencies by market-cap struggling, it’s little wonder that investors are turning their attention to presale superstars such as The Hideaways (HDWY).
Ethereum (ETH) Declines to $1,400, RSI Nears Oversold Territory
Ethereum (ETH) has descended to the $1,400 zone following a 5.0% decline to $1,433.20 on Friday. The network’s shift to a greener PoS consensus mechanism where validators will replace miners has been completed on September 15.
This event triggered a massive selloff amid the uncertainty about what the future holds for the Ethereum blockchain.
Relative Strength Index, an indicator of the buying and selling pulse, fell to 38.77 which shows a souring market sentiment towards the coin. A 30.0 RSI indicates that the token is oversold and this affects the price negatively.
If bears continue to take the price lower – a highly likely scenario playing out over the weekends – we can see Ethereum (ETH) falling to $1,374.00. The next level of support is found at the $1,300.00 round figure.
Bitcoin (BTC) Traders Scream Help After Declining to $19,000
Just as when we thought Bitcoin’s rally to $22,000 will trigger the end of the extended crypto winter, the token retraced to the $19,000 level.
As of the latest charts, Bitcoin (BTC) is trading at $19,513.70, down 1.77% during the session. The crypto gold erased all its gains made in the previous week and is down 9% in the last 7 days.
With the RSI at 41.53 and 50-day EMA above the 20-day EMA, analysts predict that BTC could fall to the $17,000 level by next week.
The support level is plotted at $17,683.56, with stops expected above. This level is not a good entry point either with the next support at $15,880.17 in play.
The Hideaways (HDWY) Already Delivered 100% Gains
In today’s highly volatile trading environment, new crypto projects are more worthy of attention than tokens with the biggest market cap.
The Hideaways (HDWY) is currently holding a presale for its native token, HDWY. Investors who will join the event have a chance to profit big as analysts project a 9,000% for this new token by the end of 2022. This has already started, with the token price increasing from $0.01 to $0.02 even in tough market conditions. Early investors have achieved 100% gains and look set to benefit from more in the coming weeks.
Nowadays, a great crypto investment has to have a great use case and The Hideaways definitely has that
The aim of the project is to sell NFTs that are backed by real-world properties. This means you have incredible investment security as the value of the project will be linked to assets outside of the crypto-sphere.
You’ll be able to benefit from staking rewards and real-world rental income in addition to benefiting from NFT trading, physical asset price increases and huge gains in the HDWY token.
With so many different ways to reward investors, it’s little wonder that The Hideaways (HDWY) looks set to continue its rise to the top.
Website: https://www.thehideaways.io
Pre-Sale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
Disclaimer: This is a sponsored press release 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.
Source: https://cryptodaily.co.uk/2022/09/2023-ethereum-and-bitcoin-price-predictions-should-you-invest