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Ethereum’s $6K Target Faces Competition From XYZVerse’s 16,900% Meme Coin Upside
The cryptocurrency market is abuzz with the price action of various digital assets, including Ethereum (ETH). While ETH has strong prospects in the current bull run, a new meme coin called XYZVerse (XYZ) has emerged as a potent force to be reckoned with. This sports-themed token boasts an unprecedented 16,900% upside potential.
In recent weeks, Ethereum’s price has experienced notable fluctuations. Over the past week, ETH has dropped by 10.38%, indicating a short-term bearish trend. However, over the last month, the cryptocurrency has seen a 7.05% rise, suggesting signs of recovery. On a six-month timeframe, ETH has recorded a slight decline of 2.34%, reflecting overall market volatility.
As of the current trading session, Ethereum is valued between $3,648.43 and $4,137.17. The cryptocurrency’s nearest resistance level stands at $4,317.86, while its closest support lies at $3,340.38. Furthermore, the Relative Strength Index (RSI) for ETH currently sits at 20.60, implying that it is oversold and potentially due for a rebound.
On the flip side, if Ethereum manages to break above the resistance level of $4,317.86, it could possibly target the $4,806.60 mark, representing an approximate increase of around 16%. Conversely, should ETH fall below its support at $3,340.38, it might slide towards the $2,851.64 region, which would result in a decrease of approximately 22%.
As traders closely monitor these crucial levels to gauge Ethereum’s next move, XYZVerse (XYZ) has stolen the spotlight with its eye-catching growth potential.
Source: blockonomi.com
