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Altcoin Poised for 20x Gains While Ethereum Price Falls Short of $10,000 This Year

Introduced six years after Bitcoin, Ethereum has climbed the ranks in the world of cryptocurrencies to secure the position of the second most valuable digital asset by market capitalization, commanding nearly 20% of the market share.

Its popularity is derived from its remarkable adaptability, allowing for decentralized transfers, decentralized financial trading, and the execution of smart contracts. Altcoin Poised for 20x Gains While Ethereum Price Falls Short of $10,000 This Year

With this perceived crucial first-mover advantage (FMA), numerous individuals have speculated that Ethereum ($Ethereum ) could potentially embark on a significant journey towards reaching $10,000 by the end of this year, especially after its successful transition to a proof-of-stake (PoS) consensus algorithm.

Nevertheless, macro events could pose challenges as the crypto space faces a flurry of regulatory actions, potentially acting as obstacles to Ethereum’s upward trajectory.

However, investors now have the opportunity to leverage a novel crypto trading solution called yPredict, which can effectively enhance their earning potential in the short term, opening doors to greater opportunities in the crypto market. Altcoin Poised for 20x Gains While Ethereum Price Falls Short of $10,000 This Year

Ethereum Holds Key Support at $1800 Despite Bearish Conditions

Altcoin Poised for 20x Gains While Ethereum Price Falls Short of $10,000 This Year

Despite its attempts to regain stability, the $Ethereum token has been unable to find smoother waters,

experiencing a decline of 0.41% in the past hour.

Over the past seven days, $Ethereum has recorded a modest increase of 0.5%. However, looking at the last 30 days, it has experienced a decline of 2.37%. Altcoin Poised for 20x Gains While Ethereum Price Falls Short of $10,000 This Year

In contrast, the asset’s bullish momentum becomes apparent in the 90-day streak, with a notable increase of 14.31%, and further strengthened in the 180-day period, where it has surged by an impressive 52.67%.

The year-to-date (YTD) performance of the Ether token leaves little room for speculation about its current market trajectory, as it has surged by an impressive 52.52% thus far.

Ethereum’s 50-day simple moving average (SMA) is indicating a price range of $1,891.56, which is notably higher than its current value.

However, it is important to note that the current situation can quickly shift, especially considering the overall bullish sentiment in the broader market.

On the longer-term 200-day simple moving average (SMA), $ETH is evidently displaying a bullish trend,

with the indicator price at $1,575.34.

The long-term bullish sentiment is further validated by the moving average convergence and divergence

(MACD) indicator, which is generating a robust buy signal, indicating a strengthening upward trend.

Considering that the relative strength index (RSI) currently stands at 48.59, indicating underbought

market pressure, it presents a favorable opportunity to consider buying Ethereum at this time.

A16z Introduces Anonymous Voting on Ethereum

The use cases for the Ethereum blockchain are limitless. In a recent blog post, renowned crypto venture

capital fund A16z, also known as Andreessen Horowitz, revealed the introduction of anonymous voting on the Ethereum network.

Utilizing the Solidity language known as Cicada, this solution ensures that only the individual voter knows

their choice, keeping it confidential until the polling period concludes.

The technology leverages time-lock puzzles and zero-knowledge proofs to enable private on-chain voting, ensuring the confidentiality of participants’ choices.

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