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Ethereum (ETH) has experienced significant growth, recording a weekly surge of over 20%. This upward movement in the price of ETH follows pro-crypto leaders gaining influence in the just concluded US elections. Moreover, Ethereum has also benefited from the Federal Reserve’s rate cut, followed by a similar move by the Bank of England. Additionally, institutional investors have driven much of ETH’s recent surge, primarily through US spot Ether ETFs, which have attracted over $500M in cash inflows over the past four days.
Following ETH’s impressive performance, Cardano has also recorded a weekly gain of over 48%, with several indicators suggesting that the rally isn’t over yet. On the other hand, Lunex Network is quickly heating up within the crypto world as more investors discover its unique solution to some of DeFi’s biggest challenges. This has led to a significant surge in the LNEX price of 75%.
Lunex Network: A DeFi Protocol That Frontiers Cross-Chain Trading
Lunex Network is a new DeFi protocol connecting blockchains to resolve cross-chain trading issues. It allows users to easily swap cryptos across blockchains without sharing personal data or linking their Trust or MetaMask wallets. This unique focus on privacy has made Lunex Network stand out within the DeFi space.
The project also addresses major issues for traders, including high costs and currency-swapping complexities. With Lunex Network, users will enjoy quicker transactions at affordable costs. By supporting over 50K cryptos and cross-chain compatibility with SOL, ETH, and TRX, Lunex Network will transform how users interact with decentralized exchanges.
Moreover, the project also offers portfolio tracker features where users can easily manage everything from bonds to stocks and cryptos. This unique feature, backed by a revenue-sharing model, has contributed significantly to the LNEX presale’s growth. Its presale has already raised over $2.2M, with early investors enjoying a 75% ROI. Similarly, investors can now make use of the LNEX claim function.
Ethereum Price Analysis: ETH Eyes $4K
Ethereum’s price has reclaimed the 200-week MA as a support level. This move seems to have brought renewed optimism, with Ethereum’s fear and greed index hitting 81%, signaling extreme greed among ETH investors.
With the Ethereum price breaking past the $3K mark for the first time since August, analysts remain optimistic that ETH could hit higher targets in the coming months. Boosted by favorable US elections, a Fed rate cut, and increasing ETF inflows, Ethereum’s price performance has already recorded a monthly surge of over 24%. According to analyst Lucky, the current Ethereum price movement could help the token reclaim the $3,800 mark in the short term while eying the $4,600 mark by February 2025.
Similarly, Satoshi Flipper highlighted an 8-month descending channel pattern that the price of ETH is breaking out of, suggesting the token is primed for a significant breakout that might push it straight to $4K with minimal resistance. Ethereum faces resistance between the $3,100 and $3,200. A breakout above these resistance levels will allow the ETH token to aim for further gains before the end of Q4.
Cardano Price Prediction: Bullish Indicators
Having broken through its descending resistance of a falling wedge pattern, Cardano’s price continues to show promising bullish momentum. The ADA price is approaching a demand zone of $0.5900. A breakout above this level could lead to a noticeable shift in the market structure, propelling the ADA price towards higher resistance targets.
However, if Cardano fails to hold this demand zone, it might slip down to retest its crucial support of between $0.417 and $0.510. For the bullish outlook in Cardano’s price to remain intact, it has to reclaim the $0.590 level with strength. Moreover, technical indicators for Cardano, which has recorded a monthly surge of over 50%, support a continued bullish trend.
The RSI is at 68, and both the 100- and 200-day SMAs are currently below the price of ADA. Cardano now sits within a bigger rising channel and in a continuation pattern hinting at more gains that could see it target the $0.6 mark in the coming days.
Will LNEX Price Performance Follow ETH And ADA Surging Trend?
Ethereum and Cardano have recorded impressive price movements. Similarly, Lunex Network aims to follow the same path, having recently surged to $0.0021 as it continues to target further gains during its presale due to its unique DeFi features.
Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!
Website: Lunex Network
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