Ethereum (ETH), the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain network, has mounted a decent recovery on Thursday in tandem with a more risk-friendly tone to trade in traditional asset classes (US stocks are up and the US dollar is down). ETH/USD was last changing hands in the $1,250 area, up 0.75% in the last 24 hours, and is up about 2.5% versus weekly lows in the $1,220 area.However, ETH is still trading lower by about 4.5% versus its early weekly highs just above $1,300. Ether bulls have struggled to reclaim control since the abrupt collapse of major cryptocurrency exchange FTX roughly one month ago. Prior to the exchange’s implosion, ETH has been trading in the $1,500-$1,600 area. Since the collapse, rallies back to $1,300 have continually been sold by the market.Data from crypto analytics firm Santiment regarding the realized profit-and-loss of ETH tokens moving on the Ethereum network show a spike in traders selling at a loss in wake of the FTX collapse. Selling from so-called “weak hands” might well continue to weigh on ETH’s price in the near future.Price Prediction – Recovery to $1,300 On The Cards?Looking at ETH price over a shorter time horizon, the cryptocurrency appears to be heading lower within the confines of a bearish flag. ETH is currently testing the upper bounds of this flag structure, however, and looks as though it could break higher towards $1,300 once again.A further recovery in US stock markets and further weakness in the US dollar as the end of the week approaches, perhaps aided if Friday’s US inflation figures come in softer-than-forecast, could be just the catalyst that the Ethereum bulls need. Technical buying may also help in wake of ETH having recently found support at its 21-Day Moving Average and the 23.6% Fibonacci retracement level from the post-FTX collapse lows under $1,100 back to the pre-FTX collapse highs in the $1,600s.Long-term Bearish ETH Headwinds Remain DominantAn ETH recovery to $1,300, and even a break above this level, won’t do much to change the cryptocurrency’s longer-term technical outlook, which remains bearish. Indeed, ETH remains locked within a downtrend that has been in play since summer 2020 and looks ultimately likely to cap any near-term ETH upside.For ETH to get out of the current bear trend, it would need to muster a sustained break to the north of the $1,500 area, a further 20% up from current levels. To get here, ETH would need to get above all of its 50, 100 and 200DMAs. Most longer-term bears will likely remain confident in their strategy of selling meaningful short-term ETH rallies.Ethereum Whales Keep AccumulatingWhile longer-term price speculators might be bearish, on-chain data shows that whale HODLers remain confident in the ETH’s long-term prospects. According to Santiment, Ethereum wallets that hold between 100 and 1 million ETH tokens added a collective 561K ETH tokens between the 5th and 6th of December. That brings the holdings of so-called Ethereum “sharks and whales” to its highest levels since before the Ethereum merge in early September.Altcoins Offering Quicker ReturnsCryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates. D2T token sales recently surpassed $9.055 million. The sale has now entered its fourth and final phase and sales are still going strong, with $400K coming in in the last 24 hours. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Token are currently selling for $0.0533 each, which observers are calling highly discounted.Dash 2 Trade was recently listed as the third-best presale token of 2022 by CoinCodex.Visit Dash 2 Trade hereAmid the growth in popularity in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider the IMPT token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprints and allows users to trade carbon credits on the blockchain.IMPT tokens are currently in their second stage of the presale with IMPT having raised over $15.6 million. That amounts to $1 million in token sales in just the last 24 hours. Investors only have another three days to purchase tokens at the current discounted price of $0.023. IMPT token exchange listings begin in a few days. IMPT was recently listed as the best presale token of 2022 by CoinCodex.Visit IMPT NowMajor blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.Investors should consider Calvaria's RIA token pre-sale. Calvaria has now raised $2.36 million, with a crypto whale scooping up $97.5K in one purchase on Thursday. The presale is in the final stage, with only 24% of tokens left.Visit Calvaria Now
Source From : cryptonews