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After rebounding from the substantial support region at its 100-day EMA, the price of Bitcoin (BTC) has retraced toward the $42,900 resistance point. However, with its weakened momentum, there is potential for a new bearish leg.
In the meantime, Ethereum (ETH) consolidates at the $2,300 level, but a huge move could be imminent. Pullix (PLX) on the other hand, is making significant waves as it reached 15,000 users, and it is projected to climb 30x following its launch. Today, we will go over all three to determine which is the best crypto to invest in now.
Bitcoin (BTC) Reaches $42,900 Resistance – How Far Can It Climb in 2024?
The Bitcoin (BTC) chart is indicative of a short-term decline. The recent Bitcoin price bounce from the crucial support region left it at the 100-day EMA. The price embarked on a bullish retracement with the objective of reclaiming the annual high of $48,000, yet it fell.
Upon reaching a pivotal resistance, defined by the FVG within the $43,578 and $45,606 thresholds, the Bitcoin crypto’s bullish momentum faltered. This led to a phase of consolidation with minimal volatility. Now at the $42,900 resistance, BTC needs to capture significant attention from buyers in order to overcome its future price barrier. According to the Bitcoin price prediction, it can climb as high as $71,373.32 by the end of 2024.
Ethereum (ETH) Moved Upward on the Weekly Chart – Price to Reach $3,743.59 by the End of Q4
Ethereum (ETH) has moved upwards across the weekly and monthly charts. It has reached the higher boundary and has ascended towards the $2,300 level. This could lead to a rally, which can result in the Ethereum price reaching $2,700 or even potentially higher. It’s now moving towards the 200-day average, and the Ethereum crypto saw a YTD climb of 42.6%.
Looking at the RSI, its shows values above 50%, which is indicative that the momentum is in the favor of buyers. Therefore, a breakout above this level seems likely. According to the Ethereum price prediction, it can end 2024 at $3,743.59.
Pullix (PLX) Sees Appeal From Over 15,000 Users – Price to 30x at Launch
Pullix (PLX) is getting traction with its ongoing presale, as the platform will launch in 70 days. Hype surrounding it is massive, as over 15,000 users have already signed up for the platform. It will combine the best elements of CEXs and DEXs to create a unified platform where anyone can begin trading any asset, including cryptocurrencies.
Moreover, it will solve key challenges in the industry, such as lack of liquidity and transparency. It will introduce advanced trading tools and will give anyone the opportunity to copy the most successful traders and enhance their potential for making profitable trades.
There is also a liquidity provision, where users can commit their crypto in the automated market makers (AMMs) for passive income. As a result, its profit share model for users of the platform is a major point of appeal. Any user can generate up to 18% APR.
This DeFi project has reached Stage 7, out of a total of 8 stages during its blockchain ICO. Here, a single PLX trades for $0.10 but according to analysts, it can spike as high as 30x at launch, making it the best crypto to invest in now.
Summary
It’s clear that both Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, are in a unique position where they can push the next market rally and bull run. In the meantime, Pullix is generating a lot of hype, as it can spike significantly and provide massive ROI for early investors.
For more information regarding Pullix’s presale see links below:
Visit Pullix
*This article was paid for. Cryptonomist did not write the article or test the platform.
Source: https://en.cryptonomist.ch/2024/02/08/bitcoin-resistance-42900-ethereum-upwards/