As Bitcoin’s value drops, people who trade and invest in cryptocurrencies are looking for other ways to make money. Ethereum and Cosmos, which are also popular cryptocurrencies, are facing some tough times too. They’re dealing with uncertain markets and their prices are going down.
Meanwhile, Ethereum and Cosmos traders are exploring the Fezoo presale even as Bitcoin dropped to $65K recently. Moreover, a lot of investors are already rushing to secure their slots in the Fezoo presale because they are anticipating massive returns in the coming months.
Ethereum’s Market Uncertainty and Price Decline
Ethereum, one of the leading cryptocurrencies, has seen a decline in its weekly price, dropping between $3,571 and $3,351 with a notable decrease of 6.10%. Investors and analysts are closely monitoring Ethereum’s movements, particularly its ability to overcome key resistance levels. Overcoming the resistance near $3,350 could potentially pave the way for Ethereum to challenge higher resistance levels at $3,440 and $3,550.
However, failure to breach the critical $3,320 resistance level could signal further depreciation, possibly leading to a bearish continuation. With Ethereum at a critical juncture, market participants are advised to exercise caution and remain vigilant of key price levels. However, persistent downward pressure may push Ethereum towards lower support levels, with notable levels identified at $3,250, $3,220 and even $3,120.
Cosmos: A Growing DeFi Ecosystem
Cosmos has seen a slight decrease in its weekly price, ranging between $12.06 and $11.20, with a decrease of 6.97%. Despite this, Cosmos is home to a thriving decentralized finance (DeFi) ecosystem. One standout project within the Cosmos ecosystem is the decentralized exchange Osmosis (OSMO), which has garnered attention for being the most actively developed DeFi protocol in recent months.
Osmosis, being a Cosmos-based decentralized exchange, has experienced a consistent uptrend in both total locked value and trading volume from October 2023 to March 2024. One contributing factor to this surge in activity is airdrop farming, facilitated by projects like Celestia and Dymension.
Bitcoin Faces Significant Downturn
Bitcoin is currently experiencing a notable downturn, with its weekly price ranging between $70.12K and $66.31K, reflecting a decrease of 5.43%. Over the past two days, Bitcoin has seen a total loss exceeding 9.50%, causing its market value to drop to $1.3 trillion. Despite previous discussions about the $69K support level, Bitcoin’s trajectory shifted downward sharply after breaching this critical support, resulting in a cumulative loss with prices dropping to $64,550.
While Bitcoin displays signs of a positive rebound today, currently trading at $66,120, chart analysis raises concerns. There’s a possibility of the EMA5 intersecting below EMA21, indicating a potential continuation of the downward trend. In the event of further decline, pivotal support levels to watch include EMA55 at $62,098 and horizontal support around the $60K mark.
Lots Of Traders Are Exploring New Avenues with Fezoo’s Presale
Signing up for a Fezoo account is simple just enter your email address and username. Unlike centralized exchanges, Fezoo does not require Know Your Customer checks, giving users full control over their funds. Users can trade and provide liquidity on various pairs listed on the exchange, with instant deposits and withdrawals.
Fezoo is selling its FEZ tokens at $0.013 in Stage One of its presale. There are six stages in total for the presale. If you buy FEZ tokens during the presale, you might get a share of the fees the platform makes. Fezoo is making sure the team can’t touch their tokens for 16 months and they’re keeping the money safe for 50 years. This shows they’re serious about keeping Fezoo running for a long time.
Find out more about the Fezoo presale by visiting the website here
