Ethereum (ETH) started a recovery wave above the $3,050 level along with the rest of the cryptocurrency market. The token has cleared the $3,080 and $3,120 resistance levels to enter a short-term positive zone. However, the ETH bears are active around the $3,220 and $3,240 levels. At the same time, a short-term contracting triangle has formed on the hourly chart.
Conversely, the Pepe ecosystem has experienced an upsurge in whale activity.
Per Spotonchain data, an unknown PEPE whale has purchased this meme coin, triggering an uptick in its price. Meanwhile, the emerging Remittix (RTX), which has deftly combined fiat banking with cryptocurrency, has drawn considerable interest to its ongoing presale. The project has already raised over $3 million in just over three weeks, serving as a testament to its growing demand.
ETH Price Analysis: Overcome $3,550 Level to Resume Bullish Trend
Ethereum price has maintained a long-term bullish outlook as market participants across the derivatives and spot markets lean toward the buy side. Notably, Ethereum’s open interest (OI) has been rising over 40% higher than when the market started rallying in November. The increase in OI highlights that derivative traders are positioning themselves for a potential ETH upside. Similarly, Ethereum’s exchange reserve has seen a downtrend.
Over the past week, investors have withdrawn over 300K ETH tokens from exchanges to private wallets for potential long-term holding. Meanwhile, Ethereum has sustained $65.17 million in futures liquidations, with liquidated long and short positions accounting for $11.55 million and $53.61 million, respectively. Notably, the ETH price found support at the $3,000 psychological level but is currently struggling to reclaim the $3,216 level.
If the ETH token breaks above this level, it could extend toward its $3,550 resistance level. This level has been validated by the 50-day, 100-day, and 200-day simple moving averages, which are all below it. If the ETH coin fails to see a rejection near these critical levels, it could soar toward the $3,776 resistance and retest its significant resistance level of $4,093. However, if it fails to close above $3,216, ETH could return to the $3,000 psychological level.
Pepe Coin Witnesses an Upsurge in Whale Activity
Pepe has seen remarkable performance after a notable upsurge in whale activity. Per Spotonchain data, an unknown whale made another massive PEPE purchase on the Binance exchange. The whale withdrew 801.64 billion PEPE tokens, equivalent to $13.53 million. Notably, this is the second-largest PEPE purchase made by the same investor.
Before that, the trader moved 1.082 trillion PEPE worth $18.53 million from Binance after buying them at an average cost of $0.00001773 per token. He also moved his 1.5 trillion PEPE to three different blockchain wallets. This came after the PEPE crypto secured a listing from the Japanese branch of Binance. This bullish news triggered an upsurge in the price of PEPE, recovering some of its pared-off gains during the broader market downturn.
Meanwhile, the PEPE price is in wave 3 of a five-wave count, which has recorded one local top, followed by a decline to the 200-day EMA. With this view, PEPE crypto could record prices similar to previous waves, where the token could reach two local tops before a massive price correction. The two local tops of wave three could drive its value by 594% to a new bullish target of $0.000118 from its current price levels.
Can Remittix Jump To $1 in Q1 2025?
Remittix has seen considerable investor interest due to its impressive presale momentum and unique PayFi solution. The project aims to redefine global payments and the financial sector by deftly integrating FIAT banking with blockchain technology. Remittix (RTX) has addressed some of the biggest PayFi issues, including hidden costs and transaction delays, by facilitating seamless transfers between crypto wallets and fiat bank accounts worldwide.
With a transparent flat-fee model, Remittix ensures recipients get the exact amount sent without extra charges. But the perks don’t end there. Businesses can utilize Remittix for international payroll management. They can easily convert crypto payments into fiat and directly deposit funds into employees’ bank accounts, effectively streamlining global operations and reducing conversion currency fees.
Moreover, the platform has prioritized user autonomy and security, removing third-party transaction intermediaries. With audits from SolidProof and BlockSAFU, Remittix offers trusted and reliable infrastructure. Moreover, the platform has also locked in team tokens for three years, reinforcing investor confidence and eliminating the chance for insider sell-offs.
Priced at $0.0207 during its ongoing presale, the RTX token is regarded as one of the most promising cryptos. With over $3 million raised after selling more than 172 million RTX tokens, Remittix is anticipated to experience a significant price increase in Q1 2025. As the demand for low-cost, fast, and efficient payment solutions grows, early adopters of RTX stand to benefit substantially.
Can Remittix Mirror Ethereum’s and Pepe Coin’s Rally?
While Pepe and Ethereum exhibit considerable bullish price outlooks, their recent declines have made investors cautious about their positions. Meanwhile, Remittix is strategically positioned to transform the financial sector with its innovative approach. The increasing demand for quick, secure, and cost-efficient cross-border payments offers RTX a competitive edge. As interest grows amid limited token supply, industry experts foresee a rally to $1 for RTC in this bull run.
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