Ethereum (ETH) investors are eagerly awaiting the Shanghai-Capella upgrade, also known as Shapella, which is scheduled for April 12.
The upgrade promises to introduce staking withdrawals on the main network, a feature that was absent during Ethereum’s transition to proof-of-stake (PoS) consensus after the Merge upgrade last September. With the successful launch of Shapella on the Goerli testnet, Ethereum’s core developers have taken a significant step towards the mainnet launch.
The Shapella upgrade is expected to positively impact Ethereum’s price, with analysts predicting an influx of capital as more staking options become available. The release of staked ETH could also act as a bullish trigger, driving the value of Ethereum higher. Furthermore, the Merge upgrade aims to attract institutional investors to the platform, which could boost Ethereum’s value even more.
We have a time!
Ethereum mainnet will upgrade to Shapella at:
Time: 4/12/2023, 10:27:35 PM UTC
— terence.eth (@terencechain) March 16, 2023
Ethereum’s current market performance shows promise, as it broke through the $1,700 resistance level, reaching a trading value of $1,723 with weekly gains exceeding 20%. If the Shapella upgrade acts as a bullish catalyst, Ethereum could set its sights on reclaiming the $2,000 mark. However, it’s also possible that Ethereum might face a retest of the $1,500 position, which is acting as a key support level.
Considering the potential positive impact of the Shapella upgrade on Ethereum’s price, this may be an opportune time to invest in ETH. However, investors should take into account the regulatory impact on staking activities and weigh the potential risks before making a decision.
Ethereum (ETH) Price Analysis
Ethereum (ETH) is currently trading at $1,721.50, posting a 2.85% 24-hour gain.
The second-largest cryptocurrency by market capitalization has been testing key resistance at $1,750 for the fourth consecutive day, following Monday’s impressive 7.5% pump.
This surge helped Ethereum bounce from the lower trendline support and reclaim its position above the 20-day moving average (MA).
Technical indicators paint a mixed picture for Ethereum’s short-term price action. The RSI stands at 61, indicating slight overheating as the market tests the resistance level. This could be a sign of rally fatigue, with a growing bearish divergence emerging.
However, the MACD remains bullish at 19.15, as Ethereum’s price action trades well above the moving averages. This suggests that the current upward momentum could still have room to continue.
On-chain data reveals that Ethereum is in a significant accumulation period, with the 36th consecutive day of net outflow accumulation from exchanges.
This signals that Ethereum investors are buying and moving Ether into cold storage, with no sell-off imminent.
If Ethereum can successfully break through the $1,750 resistance, the next upside target could be $2,000, representing a 16.75% gain from the current price.
On the downside, a retracement might see Ethereum revisiting the $1,550 level, a 9.52% drop from its current value.
With a risk-reward ratio of 1.76, Ethereum appears to offer a strong entry point, backed by good upside potential. However, traders and investors should carefully consider the mixed technical indicators and potential downside risk before making any decisions.
100x Ethereum alternative? Meet: Love Hate Inu ($LHINU)
Love Hate Inu (LHINU) is a new crypto project that combines meme coin virality with a Vote-to-Earn system.
Interest is ripping through the market as Love Hate Inu kicked off its presale last Tuesday – and has since raised $1,000,000 in less than two weeks.
The project enables users to express their opinions on controversial figures like Donald Trump, Andrew Tate, and Elon Musk and other topics – all while earning rewards.
LHINU it is set to transform the $3.2 billion survey industry by offering sponsored polls with rewards such as NFT discount codes and NFTs backed by physical assets.
The LHINU ecosystem has a real-time vote staking mechanism that requires a minimum of 30 days of staking $LHINU to prevent spam and manipulation of the voting process.
The ongoing presale is divided into eight stages, and investors are urged to take advantage of the current presale price of $0.00009 to load up their stacks before the next stage increases the price.
#LoveHateInu Community we have raised $1 Million USDT!
We would like to thank all our amazing voters for their invaluable support!
Don't miss out, grab some $LHINU and become a part of our rapidly expanding group!
— Love Hate Inu (@LoveHateInu) March 17, 2023
By the eighth and final presale stage, LHINU will cost $0.000145, a 70.5% increase.
LHINU is expected to go viral on social media, following in the footsteps of moonshot meme coins like Dogecoin, Shiba Inu, Floki, and Tamadoge.
Don’t miss out on this opportunity to profit on the next big utility meme coin.
Fight Out (FGHT)
With the play-2-earn narrative firmly back in market view following STEPN’s short-lived recovery rally, many investors are looking to find better Move-2-Earn trades with top-tier upside potential.
Positioning itself as a more advanced and better-developed STEPN, this new P2E and M2E dApp aims to take you on a journey to becoming your ultimate fighter self.
STEPN struggled due to one-dimensional pedometers which measured only step count and an overpriced ecosystem that forced players into heavy NFT transactions to unlock any real return.
Fight Out aims to achieve success by providing a sophisticated and versatile application that can gauge and incentivize various types of physical activity, ranging from boxing workouts to late-night weightlifting sessions at the gym.
We passed another HUGE milestone #FightOutCrew!
Remember, our #Presale is ending soon! ⏰
— Fight Out (@FightOut_) March 15, 2023
All of this is based around a soulbound avatar (think of this like a STEPN sneaker but that can’t be bought or resold), custom designed by the player and which embodies the user’s fitness journey.
As you train and work out, this is recorded and levels up your soulbound avatar’s stats in real-time – while also earning you in-game $REPS tokens.
These $REPS tokens are redeemable for network native $FGHT, which can be cashed out, spent in the NFT marketplace, or put up for grabs in high-stakes PVP community competitions that pit users against each other to see who can train hardest that week.
More UFC ambassadors will be announced in March.
And this isn’t limited to the world of MMA, as world champion boxer Savannah Marshall joins the project to lead ambassador challenges and contests.
Check out the amazing @FightOut_ avatars that grow with you as you train and level up your skills.
Don’t wait too long, the presale ends in just 2 weeks! Learn more at https://t.co/YjotTU93WO#FightOut #Blockchain pic.twitter.com/scf0EP6nEc
— Savannah Marshall (@Savmarshall1) March 16, 2023
To make the most of the Fight Out presale you will need to act quickly, with more than $5.5 million raised and investors getting the chance to earn up to 67% in bonus tokens.
The Fight Out team also recently announced the launch of a lucrative referral promo link program, giving users the ability to receive a 5% commission for signing up their friends.
All users need to do is go to the Fight Out homepage, connect a valid crypto wallet, and then click on the 5% referral link button.
At this point, a unique referral link will be generated to earn commission, which is then shared with friends and family or posted to social media.
This means every time someone buys the $FGHT token – you receive 5% USDT of the purchase amount.
Love Hate Inu - Next Big Meme Coin
- First Web3 Vote to Earn Platform
- Latest Meme Coin to List on OKX
- Staking Rewards
- Vote on Current Topics and Earn $LHINU Tokens