Ethereum Experiences 4% Surge Post Pectra Upgrade; Investors Shift Focus Towards Top Wallet Presale Offering 123% Staking Returns
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The Ethereum (ETH) price skyrocketed by a whopping 4% in the past 24 hours, placing it at a staggering $1,898 as of 1:14 a.m. EST on a trading volume that went through the roof by 283% to a whopping $52.9 billion.
This mind-blowing increase in the ETH price comes hot on the heels of Ethereum's much-anticipated Pectra upgrade, which was successfully executed earlier.
Ethereum Price Breakdown: Golden Cross on the Horizon?
The ETH price seems to have burst out of a well-defined falling wedge pattern, a pattern known for its bullish reversal potential. This falling wedge formed between January and late April 2025 and showed lower highs and lower lows converging, which indicates a decrease in bearish momentum.
ETH's breakout above the upper resistance line of the wedge hints at a shift in sentiment from bearish to bullish. To top it off, Ethereum has crossed both the 50 and 200 Simple Moving Averages (SMAs) on the 8-hour chart. With the recent price of Ethereum at $1,898.92, the price action has decisively moved above both SMAs, pointing towards a trend reversal. Furthermore, there's a strong possibility that the golden cross, where the 50 SMA could cross above the 200 SMA, is imminent, which would further validate the bullish trend.
The Relative Strength Index (RSI) currently stands at 63.34, placing ETH in bullish territory, but not yet overbought (above 70). This suggests that there's still room for further upward momentum without a high risk of an immediate correction due to overextension. Meanwhile, the MACD (Moving Average Convergence Divergence) indicator supports the bullish outlook. The MACD line is above the signal line, and both are positioned above the zero line, demonstrating that bullish momentum is continuing to gain traction.
Ethereum Price Outlook: 44% Soaring Ahead?
If the current bullish momentum persists, the ETH price likely aims for an upside target of roughly $2,760, implying a significant 44.53% increase from the breakout point. However, it's important to note that the ETH price may run into resistance near the psychological $2,000 level and again around $2,400, which have served as previous support in late 2024. On the downside, if the ETH price encounters a pullback, the $1,573 level could function as a cushion against downward pressure.
Meanwhile, investors are pouring money into Best Wallet (BEST), a crypto wallet highly recommended by popular YouTuber Austin Hilton, who boasts over 347K subscribers.
Best Ethereum Alternative: Buy and Stake for 123% APY
Best Wallet has successfully raised over $12 million and is not just drawing attention for its ICO success. The technology backing the project is also gaining recognition.
With Best Wallet, users can store over a thousand coins and tokens, stake assets from different networks, and swap tokens using a built-in DEX that supports cross-chain trading. Its native token, BEST, powers an ecosystem designed to streamline on-chain activities while minimizing security risks, making it a standout in the highly competitive crypto wallet space.
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One of the most talked-about features of Best Wallet is its "Upcoming Tokens" section, which assists users in discovering promising projects still in the early stages. The project's talent for identifying promising cryptocurrencies is already proven. It flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that brought immense gains for early investors.
Investors can also stake BEST tokens for an astounding 123% annual return. Currently, BEST tokens are trading at $0.024995. Those interested are encouraged to buy sooner rather than later, as there's potential for a price increase in about 35 hours.
Interested? Check out BEST on its official website.
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- In the realm of technology-driven finance and investing, the Ethereum price surge of 4% in the past 24 hours, reaching $1,898, suggests a bullish trend, particularly with the approaching golden cross on the horizon and the Relative Strength Index (RSI) still not overbought.
- Meanwhile, momentum is building for the Best Wallet project in the technology sector, as investors flock to this crypto wallet, boasting a recommended status by Austin Hilton, and with the potential for a 123% annual return on its native token, BEST.
