Navigating the volatile world of cryptocurrency, Ethereum and AVAX have been showing bearish trends, with Ethereum struggling to recover losses and AVAX continuing its decline. However, a new player, BlockDAG, is drawing significant attention. Endorsed by YouTube influencer Michael Wrubel, BlockDAG is praised for its advanced technology and strong presale performance. As Ethereum and AVAX face challenges, BlockDAG’s potential for substantial returns and its innovative approach set it apart in the current market.
JP Morgan’s Take on Ethereum ETF and Market Trends
Ethereum is trending downwards on the daily chart. However, despite showing strength over the weekend, it couldn’t recover half of its May 10 losses, indicating a bearish outlook. Therefore, the path of least resistance appears downward, despite Ethereum’s strong fundamentals. Key levels to watch include the April 2024 lows and the $3,300 liquidation level, which will influence medium-term price action.
Moreover, traders are closely monitoring Ethereum due to its impact on altcoins. Currently, Ethereum is moving sideways, stable on the last day but down 7% over the past week. While there’s potential for upward movement, sellers remain dominant, rejecting higher attempts. Furthermore, lower prices have led to reduced trading activity, with average daily volume around $8.6 billion.
In addition, significant developments include falling Ethereum gas fees, reflecting decreased FOMO and potential fear. JP Morgan analysts suggest the US SEC might eventually approve a spot Ethereum ETF, though not likely this year. Unless prices reverse above $3,100, sellers are in control, with potential for further declines below $2,800.
Is AVAX Headed for More Declines?
AVAX, the native utility token of the Avalanche blockchain, is currently ranked 12th by market cap. Additionally, it has a total supply of 440,043,419 AVAX and recorded a trading volume exceeding $396 million in the last 24 hours. Following a recent dip to $36.15, AVAX’s price has continued to decline. Consequently, the broader cryptocurrency market remains bearish, causing AVAX to fall below the 100-day Simple Moving Average (SMA). As of now, AVAX is trading around $33.52, reflecting a 0.22% decrease over the past 24 hours.
To predict AVAX’s future price movements, several technical indicators can be analyzed. The 4-hour Moving Average Convergence Divergence (MACD) shows the histograms trending below the zero line, with both the MACD and Signal lines also below this line, indicating continued downward movement. Similarly, the 4-hour Relative Strength Index (RSI) shows the signal line dropping below the 50% level, suggesting strong seller activity. Lastly, the Alligator indicator reveals AVAX trading below the alligator lines, with attempts to rise above failing, hinting at further downward trends.
From $28M Presale to $10 by 2025: The BlockDAG Story
“The best returns on investment often come from transformative new projects,” stated renowned YouTube influencer Michael Wrubel in his recent endorsement of BlockDAG. This prompts the question: what exactly is BlockDAG?
To answer this, it’s essential to note that BlockDAG’s impressive technology and presale success have garnered such endorsements. Since its inception, BlockDAG has grown by 650% and is projected to increase by 4900% upon its official launch, potentially offering a 30,000x ROI.
Currently, in the 13th batch of its presale, BlockDAG has raised $28 million and sold 9.1 billion coins. This achievement, along with support from numerous influencers, has led experts to predict that BlockDAG will reach $10 by the second half of 2025, according to Yahoo Finance, as highlighted by Michael Wrubel in his video.
Wrubel describes BlockDAG as the world’s most advanced layer 1 blockchain, inspired by Bitcoin and Kaspa. He is impressed by its compatibility with the Ethereum Virtual Machine (EVM), allowing developers to deploy Ethereum-designed smart contracts. Furthermore, BlockDAG offers an Explorer Platform, a Low Code/No Code Platform for easy smart contract creation, and a Proof of Engagement Mobile Application to enhance user interactions and scalability while significantly reducing transaction fees. Additionally, he highlights how BlockDAG’s user-friendly crypto payment card simplifies spending, bypassing lengthy transaction approvals and complex KYC procedures.
The Last Call
While Ethereum and AVAX are currently facing downward trends and market challenges, BlockDAG stands out with its impressive presale performance and endorsements from influencers like Michael Wrubel. Its advanced technology and potential for significant returns offer a promising alternative amidst the bearish outlook of its counterparts. As the cryptocurrency market evolves, BlockDAG’s innovative features and strong support suggest it may lead the way in future developments.
Join BlockDAG Presale Now:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
