As market sentiment shifts, GPT-4 predictions indicate Ethereum (ETH) may drop to $2,200 and Ripple (XRP) could fall to $0.4. On the other hand, IntelMarkets is getting ready for a huge $2 mega rally by capitalizing on its amazing features and fast-growing presale. With traders finding their way around these uncertain waters, the potential for high-risk, high-reward opportunities is very likely.
Let’s examine the Ethereum (ETH) chart on a weekly time-frame. Ethereum (ETH) struck its last weekly close at $2,559.52 which is 2.38% down on the week. Support is seen as the 9-day Exponential Moving Average (EMA) sits below the price which suggests mid-term bearish pressure as Ethereum’s price tries to remain above these key support levels.
The falling direction of the EMA might suggest that we could be heading towards further bearish momentum. Prices fail to find support above the EMA line, where we also find dynamic resistance. From the overall market trend, Ethereum (ETH) is currently under pressure, as the coin has been on a downward spiral since peaking earlier in the year, finding support around the $2,400-$2,500 area lately.
Ethereum (ETH) could tank to $2,200 if the broader sentiment doesn’t improve. Since there has been a breakdown in momentum, it is possible that Ethereum (ETH) could break to a lower support level around $2,500 if broader market sentiment remains bearish.
Ripple (XRP) has failed to break past $0.60 multiple times in the last 10-days ending in a bearish rejection and a period of extended consolidation. Although a new uptrend initially emerged, recent price movements have confirmed a downtrend, especially as the 20-day EMA crossed below the 50-day EMA within the rejection frame.
Despite Ripple’s (XRP) sideways drift, the datasets for derivatives are mixed. The margin trading exchanges, Binance and OKX, show a marginally bullish attitude, but the recent spike in short liquidations hints that it’s profit-taking from the traders.
Indeed, GPT-4 was right to predict that the Ripple (XRP) price would drop to $0.4, as another leg down in the established bearish trend may be imminent. Indicators continue to look very weak, with resistance set at $0.56. Consequently, upside momentum for Ripple (XRP) will be limited unless the broader market sentiment changes course.
IntelMarkets is about to go on a $2 mega rally, and here’s why! First, the platform operates on both the Ethereum and Solana blockchains, giving you literally the best of both worlds. Whether you’re into Ethereum for its robust nature or Solana for its speed and lower fees, IntelMarkets has got you covered. The capability for dual functionality of the exchange means one can choose what works best for their trading strategy with no limitations.
Next up is leverage. IntelMarkets offers up to 1000X leverage. This means you can trade with up to 1000 times your initial capital. Now consider that in some markets, even a small amount of movement can mean a huge jump in dollars for those trading those contracts, which essentially means you can make enormous profits (at the same time, this can also increase risk exponentially).
But the most interesting thing about IntelMarkets, though, is its Artificial Intelligence. Using blockchain in combination with artificial intelligence, the advanced machine-learning trading models boost your decisions and enable you to trade much faster and more precisely.
To sum up: IntelMarkets’ multi-tech, dual-chain solutions and massive leverages are here for your taking, as the world of crypto trading gears up for the next bull run!
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