Ethereum Price Forecast - ETH Lower Today, But Validators Are Having A Ball, Buy Below $1,000

.The collapse of FTX seems to have had a silver lining, given that there has been a significant increase in profitability for Ethereum validators. However, despite the increasing profits, the price of ETH is yet to recover, given that in the last 24 hours, this token has dropped 3.4%, and it was trading at $1,084 at the time of writing.

Ethereum price analysis

Ethereum has not been spared from the recent bearish action that has seen a lot of tokens losing value since the collapse of FTX. During the past 24 hours, the broader market has dropped by nearly 2%, and the total market capitalization now stands at around $814 billion.

In the last 24 hours, ETH has shown signs of increasing volatility, given that the token has traded between the $1,082 and the $1,143 levels. The token is currently struggling to hold support at the $1,080 level. If this support fails, ETH will likely drop toward $1,000, and panic selling could send it below $1,000.

Ethereum price analysis

The Ethereum price chart shows a steady price decline today. The token has a Relative Strength Index of 48, showing that the selling pressure is yet to take ETH to the oversold levels. The increase in selling pressure could accelerate the downtrend.

If the bulls take control of the market as traders start buying the dip, Ether’s trend will likely reverse, and the token will head higher and possibly retake the $1,200 level.

Profitability of Ethereum validators increase

Ethereum validators have recorded a notable increase in profits since the collapse of the FTX exchange. The maximal extractable value (MEV) profits have been on an uptrend. Ethereum validators started running the Ethereum blockchain after the Merge in September of this year.

The MEV profits increase during periods of volatility, such as the recent market volatility caused by the collapse of FTX.

Two Ethereum-based coins to buy today

If you want to invest in ERC-20 tokens, you should check out some of the best presales happening today.

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based platform seeking to allow both novice and experienced traders to make informed trading decisions. The Dash 2 Trade presale is barely one month old, but more than $6.78 million has already been raised.

Dash 2 Trade has been in the limelight since the collapse of FTX, since a reliable crypto signals tool can help crypto investors avoid the massive losses suffered after the FTX implosion. This tool combines real-time data with the best technical analysis to help investors pick the best trades.

RobotEra (TARO)

The RobotEra presale is also worth investing in today. This Ethereum-based project seeks to change how people interact in the metaverse. RobotEra is a Sandbox-like metaverse where players can create robots, buy land and develop it.

RobotEra plans to boost the engagement of players on its metaverse by releasing new updates each quarter. An alpha version of this metaverse will be launched in Q1, 2023. The TARO presale has raised more than $175,000.

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