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Ethereum

Ethereum Price Analysis: Is There a Short-Term Correction?

ETH/USD – Ether Bearish Divergence Continues At $3300

Key Support Levels: $3150, $3035, $3000.


Key Resistance Levels: $3350, $3400, $3540.

Ethereum saw some positive price developments toward the end of last week as it surged above the previous $3150 resistance on Friday. It continued to climb as high as $3330 over the weekend but could not break above it.

Yesterday, ETH dipped as low as $3100 but quickly rebounded to heads back toward $3300 when the candle closed.

Unfortunately there is a bearish divergence in price action and RSI. This suggests that the market may see a temporary retracement.

ethusd-aug16-min
ETH/USD Daily Chart. TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $3350 (bearish . 618 Fib). This is followed by $3400, $3540 (1. 618 Fib Extension), and $3700.

On the other side, the first support lies at $3150. This is followed by $3035, $3000, and $2960 (. 236 Fib).

As mentioned, the RSI and price action are showing a bearish divergence. The RSI makes lower highs than the price while the price makes higher highs. This could indicate a possible retracement.

ETH/BTC-ETH Forms Short-Term Symmetrical Triangle

Key Support Levels: 0. 069 BTC, 0. 067 BTC, 0. 066 BTC.


Key Resistance levels: 0. 07 BTC, 0. 072 BTC, 0. 074 BTC.

Ethereum consolidates against bitcoin as it moves in a symmetrical triangle formation. After breaking a long-term, symmetrical triangle, the cryptocurrency surged higher in August. It reached 0. 073 BTC but started to head lower from there.

The market is rapidly approaching the triangle’s apex. A breakout could determine the next direction of ETH.

ethbtc-aug16-min
ETH/BTC Daily Chart. TradingView.

ETH-BTC Short Term Price Prediction

Moving forward the first resistance lies at 0. 07 BTC. Then, follow by 0. 072 BTC (bearish . 618 Fib), 0. 074 BTC, and 0. 076 BTC (1. 414 Fib Extension).

On the other hand, the support is located around 0. 069 BTC (lower angle of the triangle). Then follow 0. 067 BTC (. 382 Fib), 0. 066 BTC (100-day MA), and 0. 0651 BTC (.5 Fib Retracement).

The RSI is slightly above the midline, indicating weak bullish sentiment.

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Cryptocurrency charts by TradingView.

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Ethereum

Crypto Traders Invest $1.5M in 99Bitcoins Token Presale – Here’s Why It Could Explode

Crypto traders are going wild over a new project on Ethereum – 99Bitcoins Token.

This project has already raised over $1.5 million before its official launch.

With a unique “Learn-to-Earn” model and plans to bridge to the new BRC-20 standard, many believe 99Bitcoins Token (99BTC) could shake up the crypto education space.

99Bitcoins Token Transforms Crypto Education into a Learn-to-Earn Experience

99Bitcoins is one of the go-to platforms for new crypto investors looking to cut through the noise and learn the fundamentals.

Yet the platform is taking things to the next level with the launch of 99BTC.

This ERC-20 token is at the core of 99Bitcoins’ Learn-to-Earn model.

Instead of just passively reading articles, users can interact with courses, quizzes, and other activities.

Doing this will reward them with 99BTC tokens for improving their crypto knowledge.

It can be thought of as a gamified crypto education experience.

For example, a user could complete a module on technical analysis, ace the final quiz, and earn 99BTC as a reward.

Or they could dive into content on the DeFi space, with 99BTC tokens dished out along the way.

The possibilities are endless for turning crypto learning into earning with 99Bitcoins Token.

Their well-established brand is evolving from just simplifying crypto to actively incentivizing an entire community.

And with almost 20,000 Twitter followers, the excitement for this new approach to crypto education is clear.

99BTC Presale Raises $1.5M as Investor Demand Soars

The presale for the 99Bitcoins Token is in full swing, with over $1.5 million in funding already raised.

This level of demand highlights the hype that’s building for 99Bitcoins’ Learn-to-Earn platform.

After the presale ends, the developers will proceed with DEX listings to provide initial liquidity.

But the bigger milestone will be securing listings on major CEXs – which the developers hope will occur in Q4 2024.

One key advantage for those who invest during the 99BTC presale is access to the platform’s staking program.

Presale buyers can stake their 99BTC right away to earn yields as high as 1,125% per year.

As an example, if someone were to 10,000 99BTC tokens, they could earn over 112,000 additional tokens.

Although the yield will decrease as more tokens are staked, it presents a pathway for investors to generate passive income while improving their crypto skills.

This combination of passive income potential and educational value is proving to be attractive for investors.

Huge Airdrop Campaign & BRC-20 Bridge Fuel 99Bitcoins Token’s Growth

So, could 99BTC really explode after hitting the open market?

The signs seem to be pointing to yes.

For one, the development team has added to the buzz by launching an airdrop campaign that will give away $99,999 worth of BTC to early community members.

This shows their commitment to rapidly growing the 99BTC user base.

Even more exciting is the team’s plan to eventually bridge from Ethereum to Bitcoin as a BRC-20 token.

As the first crypto education project to leverage this new token standard, 99Bitcoins Token could position itself as a first mover in the space.

This ties into what might be 99Bitcoins Token’s biggest catalyst – the fact that no project has emerged as the “go-to” educational platform for crypto.

Despite a growing need for quality learning resources, the space still lacks an all-in-one hub for learning.

99Bitcoins could be that hub.

With an established brand, disruptive Learn-to-Earn model, and cross-chain vision, 99Bitcoins is well-positioned to fill the market gap.

And with 99BTC tokens priced at just $0.00106 during the current presale stage, there’s a growing sense that this could be a golden opportunity for investors.

Visit 99Bitcoins Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Ethereum

PEPE Soars to All-Time High Spurred by Speculation of Spot Ether ETF Approval

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Ethereum

Farcaster Secures $150M in Funding, Reaches $1B Valuation With Backing From Paradigm

Farcaster, a decentralized social media platform leveraging the Ethereum blockchain and Optimism’s Layer two ecosystem, has successfully raised $150 million in a funding round led by Paradigm, bringing its valuation to $1 billion. The funds will be used to sustain the project’s development, focusing on growing its user base and enhancing developer tools…
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