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Home»BLOCKCHAIN NEWS»Investors monitoring DeeStream as analysts expect Ethereum and Immutable to boom before Bitcoin halving
BLOCKCHAIN NEWS

Investors monitoring DeeStream as analysts expect Ethereum and Immutable to boom before Bitcoin halving

By Crypto FlexsFebruary 27, 20244 Mins Read
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Investors monitoring DeeStream as analysts expect Ethereum and Immutable to boom before Bitcoin halving
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Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.

In the changing world of digital currencies and online content, Ethereum (ETH) is performing well and showing positive developments. Immutable (IMX) seems to be getting better after some difficult times. Bitcoin (BTC) remains strong with positive data suggesting a potential upside ahead of the halving.

At the same time, DeeStream (DST) is leading the way in decentralized streaming. Supporters expect more profits in the future, which explains why more investors are exploring the project.

Ethereum is likely to explode

Ethereum recently experienced a breakout from a rising parallel channel that has existed since October.

Ethereum, priced at $3,015, has surged nearly 3% in the last 24 hours, outperforming Bitcoin and showing a doubling of gains.

This breakout, combined with bullish indicators like RSI and MACD, positions Ethereum for potential profits.

RSI sends a buy signal waiting for action when it crosses the signal line. The MACD indicator is also above the signal line, with green histogram bars indicating positive areas.

Enhanced buyer momentum could push Ethereum past the $3,200 resistance, with a bullish case for targeting $3,500, which was last reached on April 5, 2022.

However, a rejection at the upper border of the channel could lead to support at $2,905 and a possible retest of the channel’s midline at the 50% Fibonacci retracement level of $2,572, which could lead to a decline.

immutable recovery

Immutable rebounded from three consecutive days of declines and found support at the 20-day EMA.

Despite the ongoing challenges, buyers aim to set higher lows with potential demand zones set at the 20-day and 50-day EMAs.

A critical level near $2.5 could act as a key demand zone and buyers are currently trying to hold it near the 20-day EMA and the $3 level.

A sustained move above the 20-day EMA could signal the completion of a downtrend, setting the stage for a new uptrend.

While sellers are influencing the short-term trend, the long-term trend remains positive, which means buying volumes are likely to increase if prices correct further.

Bitcoin still remains strong

The current value of Bitcoin is $51,660, showing a stable trend around $52,000 over the past week. Nonetheless, on-chain transaction data continues to indicate positive market sentiment.

Last week, more than $540 million in BTC was withdrawn from centralized exchanges, marking the largest net outflow in the past eight months.

Historically, significant outflows indicate that large investors are holding Bitcoin in private storage in anticipation of potential price movements.

Accumulation near the $51,000-$52,000 level remains solid, as evidenced by the increase in Bitcoin whales holding more than 1,000 BTC.

With current bullish market factors, Bitcoin has the potential to reach $60,000 before the upcoming April halving, driven by spot Bitcoin ETFs that are seeing increasing institutional interest.

DeeStream pioneers decentralized streaming.

DeeStream is emerging as a decentralized force in online video streaming, solving problems facing content creators.

With low fees, streamlined withdrawals, and a commitment to transparency, DeeStream is creating a marketplace that can benefit both creators and users.

With the global live streaming industry expected to surpass $247 billion by 2027, this unique approach has caught the attention of investors.

Ongoing presale at $0.04 per token represents an early investment opportunity with transformative potential.

DeeStream’s features, including its decentralized model and community-driven governance, set it apart. The ongoing journey marks significant progress in reshaping the decentralized streaming landscape, challenging norms and setting new standards for innovation.

Investors are closely monitoring DeeStream’s innovative impact on the future of digital media.

Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users must conduct their own investigation before taking any action related to the Company.

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