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Ethereum Surges Above $3,300 as Solana Plummets 22%

Coin WorldMonday, Jan 27, 2025 3:58 am ET

1min read

Ethereum Price Sustains Above $3,100 As Solana Crashes 22%
Ethereum price has been hovering in the $3,100 to $3,300 range for the past week, with the latest price standing at $3,330. This price action comes after Ethereum dropped into a buy zone, extending from $3,057 to $3,132. Meanwhile, Solana has been fading since hitting its all-time high of $295.83 and has crashed 22% so far, with analysts predicting a further 23% crash.

Ethereum's recent accumulation of $175 million worth of ETH tokens from Donald Trump's World Liberty Financial has sparked investor speculation about a potential comeback. Additionally, Ethereum whales have been on an accumulation spree, scooping up 300K ETH worth $1.08 billion. Network activity has also spiked, suggesting new capital is flowing into the Ethereum ecosystem, indicating a potential bounce.

Ethereum price analysis forecasts a $4,000 target, with the falling wedge setup in its final stages. A bounce off the $3,057 to $3,132 support level will maintain this bullish technical formation, and a decisive daily candlestick close above the wedge's upper trend line around $3,360 will confirm a breakout. In such a case, the falling wedge forecasts ETH price could rally 17% and target $4,000. However, three key resistance levels could interfere with this uptrend: $3,297, $3,477, and $3,592.

While Ethereum price has been holding strong, Solana has been struggling. After reaching an all-time high of $293 just a week ago, Solana has shed several places to trade at around $259 currently. Despite the recent correction, Solana remains a top act to follow for an up-and-coming project like DTX Exchange, which is emerging as a formidable alternative in the crypto innovation market. Leveraging hybrid Vulcan X blockchain technology, DTX Exchange offers a multi-asset trading platform that combines cryptocurrencies, stocks, and forex into one ecosystem. With tokens priced at an accessible $0.

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