- Ethereum struggles at key support, risking a drop to $2,411 if bears take control.
- Meanwhile, investors flock to Wall Street Pepe (WEPE), a meme coin presale that has raised over $69 million, eyeing massive gains.
Ethereum (ETH) took a hit, dropping over 2% in the last 24 hours to trade at $2,742.59. The altcoin has struggled, with an 11% loss over the past week. Investors are shifting funds into a new meme coin presale, Wall Street Pepe (WEPE), which has raised over $69 million.
ETH Crucial Support Level
ETH is hovering above the key support at $2,683.55. If it falls below this level, the price could plunge to $2,411.54 in the short term. However, bulls might see the current price as a buying opportunity. A rebound could push ETH toward the $2,929.23 resistance. If momentum strengthens, Ethereum could climb to $3,218.78.
Technical Indicators Show Bullish Signs
Despite the recent dip, ETH’s technical indicators suggest a possible recovery. The MACD line recently crossed above the signal line, indicating a bullish trend. The RSI has also risen from oversold territory, signaling increased buying strength. If bulls maintain control, ETH could see a strong rebound.
Investors Turn to Wall Street Pepe (WEPE)
As ETH struggles, traders are rushing to buy WEPE, a PEPE derivative meme coin. The project has gained significant traction, with crypto analyst ClayBro predicting a 100x surge at launch. The WEPE Army, a community of degen traders, aims to challenge crypto whales by sharing market insights and trading strategies.
WEPE Presale Breaks Records
WEPE’s presale has raised over $69.1 million, making it one of the top-performing ICOs in recent months. With just over 11 days left before launch, the presale offers a last chance for investors to get in early. Given the demand, it could sell out before the deadline.
Will Ethereum Rebound or Lose Ground to WEPE?
Ethereum’s price is at a critical level. A bounce from support could trigger a rally, but failure to hold could lead to further declines. Meanwhile, the hype around WEPE continues to grow, attracting investors looking for explosive gains.
Will ETH regain its bullish momentum, or will the meme coin craze steal the spotlight?
