{"id":570059,"date":"2024-01-18T04:48:19","date_gmt":"2024-01-18T04:48:19","guid":{"rendered":"https:\/\/wncen.com\/?p=570059"},"modified":"2024-01-18T04:48:19","modified_gmt":"2024-01-18T04:48:19","slug":"ethereum-remains-very-bullish-inside-rising-price-channel-and-traders-are-buying-these-erc-20-tokens-to-profit","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/company\/ethereum-remains-very-bullish-inside-rising-price-channel-and-traders-are-buying-these-erc-20-tokens-to-profit\/","title":{"rendered":"Ethereum Remains Very Bullish Inside Rising Price Channel, and Traders Are Buying These ERC-20 Tokens to Profit"},"content":{"rendered":"
Bitcoin might be down 9% this week, but Ethereum continues to remain very bullish as it trades inside a rising price channel.<\/p>\n
The number two ranked cryptocurrency is now up by a strong 10% this week, while the majority of the top-10 other tokens take a nosedive.<\/p>\n
The narrative behind an incoming $ETH ETF next is primarily driving markets higher.<\/p>\n
With Ethereum on the move, traders are turning their attention back to ERC-20 tokens in the hopes of profiting from the ecosystem’s bullish sentiment.<\/p>\n
Ethereum is up by a strong 10% this week as it currently trades above $2,530.<\/p>\n
The cryptocurrency remains bullish as it trades inside a rising price channel, with traders predicting a break toward the upside will result in a run toward the $3,000 level.<\/p>\n
Ethereum also saw a sudden surge in volume, which is helping it outpace Bitcoin this week.<\/p>\n
The cryptocurrency has pulled back from last week’s highs after failing to break the combined resistance provided by the upper angle of the range and a 1.272 Fib Extension at $2,640.<\/p>\n
<\/p>\n
Looking ahead, the first level of resistance lies at $2,640. If the buyers can continue to break above the upper angle of the price channel, then resistance is expected at $2,770 (1.414 Fib Extension) and $2,800.<\/p>\n
If the bulls can clear higher resistance at $2,950 (1.618 Fib Extension), they will be free to attempt $3,000.<\/p>\n
While Ethereum started to see a surprising move upward, traders are now turning their focus back to ERC-20 tokens, believing they can provide significant profits.<\/p>\n
In particular, $SPONGE<\/a> is turning heads as it attracts over $4 million into its staking contract for its V2 upgrade, slated to bring the first 100x meme coin return in 2024.<\/p>\n In addition, Bitcoin Minetrix ($BTCMTX)<\/a> also gains momentum after crossing the $8.5 million fundraising milestone.<\/p>\n <\/p>\n Spongebob Token ($SPONGE)<\/a> has now seen the total amount of $SPONGE staked in its V2 contract rise past the $4 million level, demonstrating the building hype behind its v2 upgrade.<\/p>\n $SPONGE was one of the hottest trending meme coins in 2023 after providing a 100x return following its fair launch in May 2023.<\/p>\n The cryptocurrency managed to amass a combined social following of 30,000 people as top exchanges like Gate.io and MEXC rushed to list the token.<\/p>\n The project is back with its V2 incarnation, aiming to reproduce the 100x return in 2024.<\/p>\n <\/p>\n The exciting thing is that $SPONGE isn\u2019t hosting a typical presale. Instead, it\u2019s utilizing a stake-to-bridge, which requires $SPONGE holders to staker their V1 tokens to be allocated an equivalent amount of the V2 upgrade.<\/p>\n The stake-to-bridge utility is the only way to get positioned in V2. If you don\u2019t own $SPONGE V1, you can purchase it through the project\u2019s website and have it automatically staked for the V2 upgrade.<\/p>\n All $SPONGE V1 locked in the smart contract will be permanently locked to facilitate the transition to the V2 token.<\/p>\n The project has been audited by SolidProof, bringing security to investors.<\/p>\n Overall, $SPONGE has already shown its capabilities in 2023 with a 100x surge and is back to repeat its success in 2024.Buy and Stake $SPONGE Today<\/a><\/p>\n$SPONGE Sees an Incredible $4 Million in Staked Assets As Traders Ready Themselves For V2 100x Return<\/h3>\n
$BTCMTX Raises An Enormous $8.5 Million In Stake-to-Mine Presale<\/h3>\n