Ethereum Price Prediction As ETH Celebrates 9th Birthday And This Ethereum Layer 2 Meme Coin Explodes

Ethereum Price Prediction

In the past 24 hours, Ethereum's price has declined by 1%, currently trading at $3,332 at 4.30 a.m. EST, with a significant 20% drop in trading volume to $13.7 billion.

Despite marking its 9th anniversary, Ethereum remains under bearish pressure, despite showing signs of recovery. The launch anniversary excitement has sparked buying interest, but the altcoin is facing resistance in the current market downtrend.

Technical Analysis

Ethereum's recent growth has been hindered, even experiencing significant dips after a weekend surge. However, indications suggest a potential rebound approaching. Previously, Ethereum faced resistance at $3,400, resulting in a decline to a support level of $3,250. Since then, it has initiated a recovery phase, supported by positive technical indicators.

Ethereum's Bollinger bands have widened, with the upper band indicating resistance at $3,325. However, its price remains beneath this level, while the upper band continues to rise, signaling potential growth.

Meanwhile, Ethereum's Relative Strength Index (RSI) has climbed from the oversold zone to neutral and is headed towards overbought territory. This indicates room for further upward movement, attracting more buyers to break through current resistance.

The anniversary celebration could also positively impact the price according to fundamental analysis. ETH is likely to rise further before a potential correction. However, the extent of the rally remains uncertain, particularly if it extends into the broader crypto market.

Traders must be mindful of crypto's ongoing volatility and the unpredictability of the market. Constant monitoring of performance and technical indicators is crucial to minimize losses.

Promising Alternative to Ethereum

While Ethereum's anniversary may serve as a catalyst for recovery, other cryptos exhibit stronger momentum. Pepe Unchained (PEPU) is a notable presale that has raised over $6.5 million.

PEPU is inspired by the original Pepe (PEPE), which is currently ranked third among meme coins by market capitalization. However, Pepe Unchained holds a unique advantage over Pepe and other Pepe clones: it possesses its own blockchain.

The project's creators have established a Layer-2 chain on Ethereum's network, providing PEPU with the benefits of ETH without the drawbacks. PEPU leverages Ethereum's security while overcoming limitations like slow transactions, high fees, and scalability issues.

Speed and low transaction costs are PEPU's major strengths, differentiating it from other options.

The project has garnered considerable attention, with whales investing in PEPU. 99Bitcoins, a popular YouTube channel, reported a whale purchase of PEPU tokens worth $200k.

Currently, the project offers its PEPU token at $0.0088044. This price will expire in less than 48 hours; early purchase is recommended for interested investors.