After Bitcoin, the ETH price has been trending near an all-time high. With Wednesday’s breakout, Ethereum revisited the previous descending trendline, which it had rejected twice previously.
A breakout from this resistance could push the price above $4,500, triggering a new upswing in the ETH price.
This breakout in ETH price will also trigger a bullish move in high-potential ERC-20 altcoins like DTX Exchange (DTX). From the first stage, the DTX Exchange increased 400%, and according to analysts, it could rise 20x before the end of 2024.
ETH Price Gains Momentum with $90M Inflows In Spot Ethereum ETFs
Spot Ethereum ETFs have recorded inflows for the fourth consecutive day, reversing last week’s outflows. On November 27, inflows exceeded $90 million; this inflow in spot Ethereum ETFs could push the ETH price above the local resistance level and even ATH in the coming weeks.
Leading the charge, FETH Fidelity Spot Ethereum ETF secured the largest share of the day’s inflows, pulling in $38 million and taking its market cap past $800 million. Close behind, the Grayscale Ethereum Mini Trust Spot Ethereum ETFs attracted $37.3 million in net inflows, raising its market cap to $1.51 billion.
While ETH price continues to trail Bitcoin and Solana in the current rally, the steady inflow into spot Ethereum ETFs highlights growing investor confidence. With the ETH price’s recent gains, a retest of its all-time high is on the horizon. The relative strength index of the ETH price is currently at 65; there is more room for upside here as it can break above 70-75 levels.
DTX Exchange (DTX) Prepares For Mega Rally
DTX Exchange is taking the spotlight ahead of blue-chip cryptocurrencies with its accelerated growth and innovative platform. DTX Exchange is a project focused on making trading easier and advanced with innovations like hybrid protocol.
DTX Exchange is built on VulcanX technology, which gives the platform a hybrid nature. Because it offers features of both centralized and decentralized exchanges, users can access over 120,000 instruments in various assets, such as ETFs, stocks, crypto, forex, etc. This feature becomes more interesting because of the increased position sizing with 1,000x leverage.
DTX is a no-KYC platform because of its decentralized governance. Users don’t need to know their customers (KYC) to register on the platform, which protects them from identity theft and allows those who prefer anonymity to trade freely. Staking is another feature for passive investors; with the staking feature, investors can generate upto 42% APY.
DTX Exchange is in the fifth stage of the presale and has raised $8.9 million. Currently, its token is trading at $0.1, which will rise in the next stage. As DTX Exchange launches its mainnet, it could start the rally and rise to 20X in a short time.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
