Ethereum Surges 42% Month-over-Month, Breaks $2,600 Resistance

Ethereum (ETH) has been trading above $2,600, breaking its nearest key resistance level and maintaining a 42% increase on a month-over-month basis. Despite this, ETH’s price has been range trading between $2,225 and $2,500 since May 9th, leading analysts to offer various Ethereum price predictions. Some pundits predict that if ETH breaks the $2,720 level, it could push to another resistance zone at $2,800 or even top $2,850. This bullish movement is supported by good on-chain data, including a spike in smart contract deployment and news about its latest Pectra upgrade.

Meanwhile, the Pi Network has been facing challenges with increasing token inflows to exchanges, which could negatively impact its price. PI is currently trading above $0.7382, down 4.1% from the previous day’s close, and has crashed by nearly 32% in two weeks. PI dipped below its 50-period Exponential Moving Average (EMA) of $0.7910, displaying a bearish flag pattern. If the bearish sentiment continues, this crypto may fall to $0.6584. On-chain data from PiScan suggests that addresses have moved $4.1 million tokens into OKX recently, with withdrawals at 2.2 million. There was also a net flow of 721k to Bitget and 2,176 to Pionex.

Amidst the fluctuations in ETH and Pi Network, a new PayFi-themed crypto, Remittix, is inching toward presale. Remittix promises quick and cheap cross-border payments with crypto-to-fiat settlements that are cost-efficient, featuring a flat fee. Built on the blockchain, Remittix offers security and transparency in every transaction. The ERC 20-standard token, RTX, acts as the platform’s foundation, allowing holders to use their tokens for potential trading profit and in setting Remittix’s future direction and payment landscape. Remittix’s smart contract is built on the Ethereum chain and has been audited as ‘Very Safe’ by BlockSAFU. The RTX token is listed at $0.0781 and is expected to reach $0.0811 in its next presale stage, with $15.4 million raised so far. This presents an opportunity for those looking to get in before its next leg-up.

In summary, while Ethereum shows potential for short-term gains with its recent break above $2,600, the Pi Network faces challenges due to increasing token inflows to exchanges. Remittix, with its innovative approach to cross-border payments and promising presale, could potentially outperform both ETH and Pi Network in the next few months. The cryptocurrency market remains dynamic, with various factors influencing the performance of different tokens. Investors and traders should stay informed about the latest developments and make decisions based on thorough analysis and risk assessment.