ETH Price Recovers $3k Level After 10% Crypto Crash

The Ethereum price fell by more than -10% thanks to the crypto crash at the end of last week, but regained $ 3,000 on Sunday. After reaching $2,850, momentum reversed and ETH started rising again.

The ETH price has risen +5% in the last 24 hours, but still has a lot to catch up on, will Ethereum still rise today?

How Much Could Ethereum Be Worth After Breaking Out Above $3k?

The Ethereum price was suppressed last week by the market’s negative sentiment, causing both stocks and cryptocurrencies to crash. At the start of the new week, ETH seems to be rebounding, but now the altcoin will have to break through the resistance at $3,250 to rise even further.

After breaking above $3,250, ETH will encounter its next resistance around $3,400, the 30-day average of the Ethereum price. The price is currently still more than -10% below $ 3,700, the peak that Ethereum reached last Monday.

In the event that Ethereum fails to make a breakout above $3,250, the price could fall back to the support around $3,080, followed by support levels around $3,000, $2,880 and $2,750.

One possible reason that Ethereum, and the entire crypto market, has risen is the approval of a spot Bitcoin and Ethereum ETF in Hong Kong. This allows institutional investors in the area to invest in the crypto coins without having to hold them directly.

🚨 BREAKING 🚨

HONGKONG HAS JUST APPROVED
BITCOIN AND ETHEREUM SPOT ETFs.

BULLISH GIGA 🔥 pic.twitter.com/P5xyeuQSxu

— Ash Crypto (@Ashcryptoreal) April 15, 2024

Although the crypto market has suffered a strong setback, Bitcoin and Ethereum could see a strong boost from global crypto ETF adoption this year. With the approval of an Ethereum ETF in Hong Kong, expectations are high that ETH could gain even more value this week.

In the event of a breakout above $3,400, the Ethereum price could rise again towards $4,000 at the end of the week or early next week. However, the market’s reaction to the Bitcoin halving (in 5 days) could cause Ethereum to go much higher, but possibly also lower.

Ethereum is certainly a crypto with future potential, but expect a lot of volatility in the coming days and weeks and be aware of the risks of investing in crypto.

Which altcoins will explode to Ethereum’s $3k breakout?

Altcoins have fallen sharply in recent times, but with the comeback of Bitcoin and Ethereum, altcoins could get a big boost again this week. That’s why we look at 2 promising crypto coins that can benefit from this.

These brand new projects start with a low market cap and therefore have a higher risk, but also the potential for higher returns. This makes it possible to get a lot of profit from these projects with a small investment.

Dogeverse (DOGEVERSE)

ETH is not the only altcoin rising today, other altcoins from blockchains such as BNB, AVAX, MATIC and SOL have also risen. The new Dogeverse (DOGEVERSE) benefits from this because this unique meme coin can be traded on multiple blockchains and can “travel” between these chains.

Dogeverse can be traded on Ethereum, the Binance Smart Chain, Polygon, Avalanche, Solana and Base and is therefore called the first chain-traveling Doge. This, combined with the popularity of meme coins, allows DOGEVERSE to become worth a lot during this bull run.

And that’s not all, DOGEVERSE has already received a lot of attention from investors and has raised $4.6 million in one week with its presale. During this presale you can buy Dogeverse for $0.000295 each, an increasing price that will become even higher. are during the launch of the meme coin. Additionally, you can stake DOGEVERSE during the presale for passive rewards.

99Bitcoins (99BTC)

The arrival of the spot Bitcoin and Ethereum ETFs and the growth of the crypto ETF market could introduce many new investors to the crypto market this year. It is therefore also important that these new investors know where they stand, this is something that the new Learn2Earn project, 99Bitcoins (99BTC), can help them with.

99Bitcoins is an existing community of almost 3 million subscribers of crypto educational materials. With the arrival of the new project, it is possible for both new and experienced crypto investors to learn more about exchanges, trading, the blockchain and protection against hackers and scammers. In addition, you earn 99BTC tokens as a reward for completing tasks.

99Bitcoins started its presale last week and has already raised over $300,000 selling 99BTC for $0.001 each. You can stake this ERC-20 token for passive income and earn it after launch for additional rewards.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.