ETH, otherwise known as Ether, the native token that powers the smart contract-enabled Ethereum blockchain network, was last trading higher by about 1.6% on Wednesday, building on Tuesday’s 3.6% gain and taking the cryptocurrency’s gains since earlier weekly lows in the $1,240 area to around 8.0%. Supporting price action in the last few days has been a rise in trading volumes triggered by a softer-than-expected US Consumer Price Inflation reading, which has eased fears about aggressive monetary tightening from the US Federal Reserve. Price predictions thus remain bullish.

ETH up 8.0% since earlier weekly lows. Source: TradingView

The Fed is still expected to push ahead with a 50 bps rate hike later today, but traders have pared back on expectations for the Fed to lift rates above 5.0% in 2023. According to CoinGecko, ETH saw over $5.8 billion in trading volumes across major exchanges in the last 24 hours alone. Can ETH continue to enjoy further gains?

Price Prediction – ETH Bulls Eye Rally Towards Upper Bounds of Bearish Trend Channel

The technical picture is improving for Ethereum. Assuming no hawkish surprises from the Fed later today, the fact that ETH has broken back above its 50-Day Moving Average and held above recent highs around $1,300 bodes well for the bulls. If cryptocurrency markets can benefit from some sort of “Santa rally”, then ETH could well surpass its 100 and 200DMAs in the coming sessions and test the $1,500 area, which would mark a test of the upper bounds of a bearish trend channel that ETH has been stuck within since August.

ETH eyes further upside. Source: TradingView

If Ethereum can break to the north of this trend channel before the end of this year, that could set the stage for a test of the pre-FTX collapse November highs in the $17,000 area and August’s $2,000 highs printed during the period of peak pre-Merge optimism in early 2023.

Can ETH Hit $10,000 in 2023?

If ETH hit $10,000 in 2023 that would mark a roughly 6.5x return from current levels. Given the cryptocurrency’s more than 50x return from its 2020 lows under $100 to its 2021 record highs near $4,900, such a move shouldn’t be discounted as impossible. However, things would need to go perfectly next year if ETH is to post such massive returns.

ETH posts more than 50x returns from 2020 lows to 2021 highs. Source: TradingView

On the macro front, inflation is going to need to fall back rapidly in order to give the Fed room for rate cuts later in the year. Any talk of a return to interest rates at zero and QE would be massively crypto bullish (like in 2020 and 2021), even if monetary policymakers are taking such steps to support a weak US economy.

Ethereum’s string of expected upgrades, like the upcoming Shanghai hard fork targeted for the end of Q1 2023, will all also need to go smoothly like the Merge did back in September. Meanwhile, for ETH to rally beyond record highs and towards $10,000, the Ethereum Decentralized Finance ecosystem is going to need to come back to life.

According to DeFi Llama, there is only about $41 billion in crypto locked in Ethereum-based smart contracts at the moment, down from more than $150 billion in late 2021/early 2022. That is likely going to need to rise about 10x from current levels if ETH is going to hit $10,000.

Ethereum’s TVL still in the dumps. Source: DeFi Llama

Altcoins Offering Quicker Returns

Cryptocurrencies are still trading substantially lower versus their pre-FTX collapse levels, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.

Dash 2 Trade (D2T) – Presale Enters Final Stage

Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.

These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.

Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $9.7 million. The pre-sale dashboard is going to be released on Friday, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.

Visit Dash 2 Trade here

Calvaria (RIA) – Final Presale Stage Now

Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.

Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.44 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 21% of tokens left.

Visit Calvaria Now

RobotEra (TARO)

RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world, including NFT-based land, buildings, and other in-game items. Due to launch in an alpha version in the first quarter of next year, it also plans to let players link up with other metaverses, in the process creating a multi-verse where NFTs from different platforms can interoperate.

1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale. The project has now raised more than $545K in funds in the few weeks since the launch of the pre-sale.

Visit RobotEra Now

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