Ethereum Price Pumping Again: $4K Incoming As New Green Crypto Presale Also Surges

The post Ethereum Price Pumping Again: $4K Incoming As New Green Crypto Presale Also Surges appeared first on Coinpedia Fintech News

ETH is currently trading at $3,900, swiftly approaching the $4K mark for the first time since December 2021.

Meanwhile, other altcoins are also gathering pace, with the new eco-friendly presale project eTukTuk surpassing $1.8 million.

ETH Heats Up as Traders Look to Upcoming Catalysts

Three converging catalysts have ignited Ethereum’s recent rally, but traders anticipate much more gains once it breaks $4K.

Ethereum is trading at $3.9K, just below the psychologically significant $4K resistance level. Analysts say a breakout would spark an explosive move to the upside.

“We’re Going for resistance at $4k. If we break, we’ll full send to ATHs,” said analyst Roman Trading on X.

Several factors are at play amid Ethereum’s bullish trajectory; the most recent is PulseChain buying a staggering 149,107 ETH worth $564.74 million in three days.

This has raised questions regarding the motive, particularly when Ethereum is trading at a 65% premium compared to one month ago.

Nevertheless, the purchase reflects a positive market sentiment and an unwavering appetite for ETH, even as it approaches its ATH.

One potential reason for such demand is that ETH ETFs are suspected to be launching in May.

Analyst Degentraland suggests that “ETH is going to print,” with demand for ETFs likely “not priced in” at the current level.

The analyst argues that ETH will experience a similar trajectory to BTC, which witnessed unprecedented buying pressure following its spot ETF launch in January.

Another catalyst is that Ethereum’s Decun upgrade is set to launch this month. The upgrade will enhance scalability and cut costs on Ethereum layer 2s.

This will bolster the ecosystem’s user experience while broadening layer 2 capabilities.

Ethereum’s bullish fundamental outlook is reflected on its price chart, quickly approaching $4K. 

Analyst Crypto Jelle anticipates a consolidation phase below $4K but says, “all bets are off,” referring to a price surge, should it break $4K. 

Crypto Jelle also explained this in another tweet, noting that once it breaks $4K, there is “very little resistance standing in the way of new all-time highs.”

However, Trader Tardigrade is even more bullish, speculating ETH could hit $7.3K in the next six months.

The analyst notes that Ethereum just broke the 0.618 Fibonacci level and “went parabolic” after doing so last cycle. 

However, Ethereum is not the only altcoin experiencing bullish momentum; the new presale eTukTuk is also surging as it surpasses the $1.8 million mark.

Green ICO Crypto eTukTuk Raises $1.8M – Will it Pump Next?

eTukTuk is the hottest green crypto, inviting users to “join the AI revolution” in a fight against climate change.

Its compelling use case, robust tokenomics, and steadfast community support all hint at significant long-term potential.

Having raised over $1.8 million and been backed by leading media outlets like Yahoo News, Bloomberg, Cointelegraph, and The Asset, eTukTuk is among the most popular new ICOs.

But such hype raises questions about what eTukTuk is and what makes it special.

Simply put, eTukTuk will strategically place electric vehicles and charging stations in developing nations worldwide, starting in Sri Lanka. It will tackle issues like high CO2 levels, carbon-related health concerns, and financial disparity.

Launched as a BSC protocol, eTukTuk is widely accessible, serving the world’s 1.4 billion unbanked adults.

And yet, eTukTuk is not another early-stage project blinded by idealism. The team has already taken real-world action, partnering with Sri Lanka’s largest privately held company, Capital Maharaja Group.

But moving back to its on-chain efforts, eTukTuk aims to incentivize community participation and long-term holding with its staking mechanism. It currently offers a 137% APY, but this will decrease as the staking pool grows.

The eTukTuk presale price is $0.02775, but it will rise throughout the event. The next uptick will occur in just five days.