cryptocurrency price It remained in a tight range on Wednesday as the recent consolidation phase continued. Ethereum, the world’s second-largest cryptocurrency, fell from $3,000 to $2,900.
Bitcoin was also hovering near its highest point in over two years as Memeinator continued its highly successful token sale. In this article, we look at what to expect among cryptocurrencies such as Ethereum (ETH), Altlayer (ALT), and Memeinator (MMTR).
Memeinator predictions
Memeinator has become one of the fastest growing cryptocurrencies over the past few months. According to the website you can see: here, Over the past few months, token sales have raised over $4.87 million. It is currently in Phase 15 of its token sale, which will be completed once $4.94 million is successfully raised.
Memeinator is an upcoming cryptocurrency that aims to capitalize on the fastest growing cryptocurrency and technology industries. First, at its core, as the name suggests, it is a meme coin that aims to topple other popular tokens such as Dogelon Mars, Floki Inu, and Dogecoin.
Memeinator has room to succeed in this industry, as seen with other recent meme tokens such as Minu, Elon Mars X, and EGO. Last year, we saw meme coins like Pepe and Bonk achieve incredible success.
Second, a field that is growing very quickly is the AI industry. Recently, AI companies such as Super Micro Computer and Nvidia have established themselves as the best-performing assets in the financial market. Most have more than doubled. Similarly, AI crypto tokens such as Fetch.ai and SingularityNET have also surged.
Lastly, the gaming industry. The developers aim to develop games that help develop the utility of the token. Therefore, although it is difficult to predict, there is a chance that the token will do well after listing.
Ethereum price prediction
Ethereum Prices had a strong bullish breakout this week, surging to their highest point since 2021. It has struggled to rise above the critical resistance level of $3,000 a few times this year. Most notably, the coin flipped the major resistance at $2,715 into a support level. This is noteworthy as it was the highest swing of the year.
Ethereum remains well above its 50-day moving average. This means that the uptrend is still under control. However, it has formed a bearish absorption pattern, which is a sign that a downtrend is imminent. If this happens, it is likely that support at $2,715 will be retested and then the bullish trend will resume. This formation is known as a break and retest pattern.
Altlayer price prediction
Altlayer, a new blockchain network that aims to accelerate the expansion of the Web3 project, has been one of the leading cryptocurrencies in the industry. The ALT token surged to $0.5200, well above its February 4 low of $0.2945. It also exceeded the 25-day moving average and the 50-day moving average.
Altlayer also broke above a key support level at $0.4625, its January 24 high. Therefore, the ALT price outlook is somewhat optimistic, and the next point to watch is $0.60.
