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With Bitcoin breaking the $100k level, the crypto market is in overdrive. After a slight retracement, traders are diversifying their positions and altcoin season is in full swing. In this context, Ethereum is in a position to reach $4,200 this year. At the same time, Pepe and a new viral memeFi token, Cutoshi, are taking the spotlight.
Ethereum To Test $4,200 Level
The bull market boosted the entire crypto market and Ethereum (ETH) is no exception. After a year of volatility, DeFi giant Ethereum is finally gathering steam. Now, analysts are predicting it will reclaim crucial levels.
Currently, Ethereum is trading at $3,724.98, registering a modest 17.58% over the last 30 days. Despite slow performance this year, Ethereum is starting to gain more rapidly, thanks to positive regulatory news. Its strong DeFi ecosystem suggests it is a good candidate for institutional investment.
Technical indicators are also favorable for Ethereum. ETH is trading above its 50% Fibonacci level, which suggests bullish momentum. Moving averages also show strong momentum, except in the short-term. At the same time, oscillators are improving, with the Relative Strength Index at 57.3, falling below the overbought level.
For that reason, analysts have indicated that Ethereum has a good chance of reaching the key level of $4,200 by the end of the year. If the price breaks that level, the token has the potential to reach a new all-time high this year.
Pepe Wins Big Gains This Cycle
Pepe has been one of the best meme coin performers in the latest bull run. After reaching its all-time high in December, the token saw a 97.37% gain over the past 30 days, stabilizing at $0.00002374.
Source: CMC
Most of these gains were in early November, when the token secured major exchange listings. Both Coinbase and Robinhood listed the memecoin, boosting both its legitimacy and access to traders. Soon after, Binance joined too.
The strong momentum shows up in its technicals. Both short term and long-term moving averages, which gauge momentum, indicate a strong buy. At the same time, Pepe’s Relative Strength Index (RSI) is just below the overbought level, meaning there’s still room to grow.
Cutoshi Secures $1.363 Million In Investments
As the crypto market is heating up, one token is stealing the spotlight. MemeFi token Cutoshi (CUTO) went viral after securing over $1 million in investments just weeks after its presale started.
As of December 12, Cutoshi secured $1.363 million in presale investments. Cutoshi went viral on Twitter multiple times indicating a strong interest in memeFi projects.
Cutoshi is a blend of memes and DeFi, inspired by the lucky cat, a famous symbol all across Asia. The project also takes inspiration from Satoshi Nakamoto, the legendary Bitcoin creator, as Cutoshi brings decentralization to the masses. Cutoshi is launching a multichain DEX with low fees, a user-friendly interface and self-custody.
With more and more investors understanding the risk of centralized exchanges, platforms like Cutoshi are in a good position to attract users.
For more information on the Cutoshi (CUTO) Presale:
Home
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
*This article was paid for. Cryptonomist did not write the article or test the platform.
