Ethereum's$ETH Next Move: A Rare Pattern and the Fusaka Upgrade
Ethereum is at a critical juncture, forming a rare bullish falling wedge pattern at the $3,000 support level, despite a 40% drop in the recent market downturn.
The Fusaka upgrade, set to go live on December 3, promises significant improvements in scalability, efficiency, and network performance.
Key Features of the Fusaka Upgrade:
Peer Data Availability Sampling (PeerDAS): Enhances data availability and reduces bandwidth requirements for nodes.
Verkle Trees: More efficient method for storing and proving blockchain states. Predictable Blob Fees:
Improves cost predictability for users. History Expiry Enhancements*: Optimizes storage and node performance.
Impact on Ethereum:
Strengthens dominance in DeFi and real-world asset tokenization.
Positions ETH for a potential breakout, with technical patterns and institutional demand aligning.
Analysts predict a potential surge to new highs.
Institutional Interest:
Major players like Tom Lee's BitMine, backed by Cathie Wood and Peter Thiel, continue to accumulate billions in $ETH $
What's Next for Ethereum$ETH ?
The Fusaka upgrade and technical patterns suggest a potential breakout. Keep an eye on key resistance levels and market sentiment!
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The Crypto Fear & Greed Index just jumped to 25, showing "Extreme Fear" but with a twist - sentiment's stronger than when Bitcoin traded above $100K! 💸$BTC
Key Takeaways
Bitcoin's current price: $91,032 Sentiment's improving, but analysts debate $100K timeline
Historically, bearish sentiment on social media positive momentum 📈 December's typically a mild month for Bitcoin, but will it break the trend? 🤔$BTC
What Analysts Say:
If Bitcoin reclaims $93-94K, $100K could be next! Ted Markets move opposite to crowd expectations" - Santiment BitMine's Tom Lee eyes $100K, but tempers $250K forecast
Ethereum's current price is around $2,895, with a 24-hour trading volume of $27.75 billion and a market capitalization of $353.61 billion. The price has increased by 3.40% in the last 24 hours, with a circulating supply of 120.70 million $ETH
Key Levels to Watch:
Resistance: $2,950-$2,986 (previous highs psychological $3,000) Immediate Support: $2,873-$2,885 (EMA60/90 cluster), then $2,830 (lower rainbow) Deeper Support: $2,784 (24h low) invalidation level for the current swing
Technical Analysis:
$ETH is forming an uptrend started from November 21, with strong EMA support and bullish momentum indicators. The Relative Strength Index (RSI) is around 60-65, indicating no overbought condition yet.
The infamous Hyperliquid "OG Whale", who made a killing from the October 10 market crash, raking in nearly $200 million, has added to their Ether long position, now totaling $44.5 million. This whale, also known as the "$10B HyperUnit Whale", increased their existing long by $10 million on Monday, according to Arkham Intelligence. Currently, they're up over $300K in less than an hour, with their Ether long position.
The whale's identity remains a mystery, listed as an "unverified custom entity" by Arkham Intelligence. Interestingly, former BitForex CEO Garret Jin has denied ownership but seems to have hinted at a connection.
Ether has seen a 2% surge in the past 24 hours, trading around $2,900. Analysts suggest the crypto market might be forming a bottom, but it's uncertain whether bulls or bears will dominate. ¹ Would you like more on Ether's price movement or the crypto market?#USJobsData #ETHCorporateReserves #ProjectCrypto #BTCRebound90kNext? #CPIWatch
"HMSTR Airdrop: Token Allocation and Value Estimate
The upcoming HMSTR airdrop will distribute 60% of the total 1 billion tokens, equivalent to 600 million tokens. If you receive 1% of the airdrop allocation (6 million tokens), your estimated airdrop value would be:
6,000,000 tokens x $0.01 (initial price) = $60,000
Please note that this is a rough estimate, and the actual value may fluctuate based on post-launch demand for HMSTR tokens.
While the initial price is set at $0.01, there is potential for future price increases, but no guarantees.
The HMSTR airdrop presents an opportunity to acquire tokens at a low price. However, it's essential to have realistic expectations, as the actual airdrop value will depend on various factors, including post-launch demand."
To qualify, participants met the following requirements:
1. Achieved a minimum Profit Per Hour (PPH) threshold. 2. Minted a specified number of cards. 3. Completed various tasks, including acquiring Keys.
Note that Profit Per Hour (PPH) played a crucial role in determining the allocated tokens. The PPH score directly influences the number of tokens received.