Will $ETH break $3,500?

Ethereum ($ETH) is starting to show signs of recovery after spending all week below the $3,420 mark. Although the December high of $4,077 is still out of reach, there is hope that $ETH can overcome resistance at $3,500.

This increase was driven by a 16.29% increase in the trading volume of Ethereum ecosystem tokens in the last 24 hours. The total market capitalization of all projects on the Ethereum network has now exceeded $495 billion.

Is this increase enough to bring $ETH back into a positive trend? Let's take a deeper look at the price movement of $ETH.

Mixed signals for $ETH, but long-term trend remains positive

The Average Directional Index (ADX) and Stochastic RSI indicators show that the $ETH trend remains weak. This shows that even if $ETH is starting to recover, it will take some time to reach its peak again.

However, the Moving Average Divergence (MACD) indicator provides a strong bullish signal, as does its moving average.

Yesterday, bulls took the $ETH price to $3,499, but this mark was corrected again to $3,440. Currently, the $3,500 level is a psychological resistance zone that is very important to break so that $ETH can strengthen its bullish path.

If $ETH fails to break the $3,500 zone, the token is likely to find support at $3,420. The next support line is at the 50% Fibonacci level of $3,310.

Fortunately for the Ethereum community, various indicators on the network continue to show good performance. Some of the meme coins with the highest increases are Department of Government Efficiency (DOGE), Hoppy ($HOPPY), Apu Apustaja ($APU), Neiro Ethereum ($NEIRO), and Pikaboss ($PIKA). today.

Ethereum's popularity as a meme coin network drives constant demand for $ETH. This suggests that the recovery of $ETH is only a matter of time, not potential.

Two sides of the same coin Meme?

In this bull, meme coins are divided into two different categories: pump-and-dump tokens (often called shitcoins) and utility tokens that use the meme concept as a cover.

Tokens like Fartcoin ($FARTCOIN), SPX6900 ($SPX), and Gigachad ($GIG) fall into the first category. These signs are getting a lot of hype and are catching up fast, but the big question is how long they can sustain that momentum.

Shiba Inu ($SHIB), Pudgy Penguins ($PENGU), and Floki Inu ($FLOKI) now dominate the second division. However, their position may soon be shifted as the Ethereum-based project, Meme Index, introduces the world's first dog meme index.

Through one of the four Meme Index baskets designed for different levels of risk, you can diversify your meme base investments to spread the risk.

Whether you choose to invest in big names like $DOGE or pump-and-dump tokens like $FARTCOIN, returns can be higher by offsetting losses.

Meme Presale Index ($MEMEX)

The presale $MEMEX just started, with the current price for one Token as $0.0148639. So far, early adopters have invested $1.5 million, and the presale is gaining traction.

$MEMEX holders will have voting rights in key development proposals when the Meme Index platform is launched.

In addition, they can take signals with an annual rate of return (APY) of 1,500%. There will be no other opportunity to increase holdings at this rate of return. You can visit the official Meme Index presale website here.

wrap up

While the short-term price movement of $ETH remains uncertain, its long-term outlook remains strong. A growing app ecosystem and innovative projects like Meme Index will likely continue to drive demand for $ETH.

However, we always remind you to DYOR (Do Your Own Research) before investing in any project. There are no guarantees in the crypto market, so you should only invest what you are willing to lose.