Ethereum prices fell 3% in the past 24 hours, trading at $3,096 per coin, and trading volume surged 46% as of 06:33 AM EST.
One of the bearish fundamentals for Ethereum prices is the delay in the U.S. Securities and Exchange Commission’s (SEC) decision on the Invesco Galaxy Ethereum spot ETF application until July 5.
Just got the news: SEC delays decision on Invesco and Galaxy spot ETFs.
$ETH
ETF
— BSCN Headlines (@BSCNheadlines)
May 6, 2024
The delay is a reminder of MicroStrategy founder Michael Saylor’s remarks during a May 2 webinar, where the Bitcoin proponent and major investor said that XRP, ETH, BNB, SOL, and ADA will never become crypto assets accepted by Wall Street or mainstream institutional investors.
# Bitcoin
– No second place
pic.twitter.com/PLDgwGwF9J
— Michael Saylor⚡️ (@saylor)
May 2, 2024
The webinar drew a backlash from the community, with some saying Saylor only cared about his own company's profits.
Ethereum Price Prediction
Ethereum price has a bearish bias but also a bullish reversal pattern as it consolidates within a falling wedge chart pattern. This technical formation is characterized by a contracting price range and an upward price trend.
As long as the $2,900 support level continues to hold, the bullish reversal pattern remains valid. With the relative strength index (RSI) showing a series of steadily rising lows, the upside potential is feasible. With the increase in buying, Ethereum price is expected to rise by 26% with a target of $4,083.
Traders who want to initiate long positions in ETH should probably wait for a close above $3,406 to confirm a breakout.
TradingView: ETH/USDT 1-Day Chart
On the other hand, the market may be more bearish as the Awesome Oscillator (AO) remains in the negative territory. If the seller momentum increases and pushes Ethereum price below the $2,900 support, it will invalidate the bullish thesis.
Given Ethereum’s bearish tendencies, some investors may consider investing in 5SCAPE, an AR/VR cryptocurrency that has raised nearly $6 million in its initial coin offering (ICO). Analysts and cryptocurrency YouTubers such as Michael Rubell are bullish on the token.
Projects that have the potential to replace Ethereum
5SCAPE is the blockchain token of the 5th Scape ecosystem and is a gateway to the next big thing of this decade. Recognizing that Virtual Reality (VR) is the future and higher education institutions have acknowledged this fact, this project aims to unlock the unlimited potential of the virtual realm.
Unlock new dimensions with 5th Scape! Dive into pulse-pounding combat, precise archery, and high-speed racing in an infinite virtual realm. Holding 5SCAPE tokens unlocks exclusive benefits like free games, discounts, and seamless in-world transactions.
…
pic.twitter.com/LNO30KXRPW
— 5th Scape (@5th_scape)
April 20, 2024
Token holders can enjoy ultra-realistic VR gaming worlds and immerse themselves in a wide variety of gaming experiences. The games on offer are rich and varied, ranging from pulse-pounding combat to precision archery, high-speed racing, and immersive sports.
Attention all VR and Mixed Martial Arts (MMA) fans! Get ready to experience the thrill of the MMA world in VR in 5th Scape’s “MMA Cage Conquest” game.
Looking forward to Meta…
pic.twitter.com/MHbKgKHIxb
— 5th Scape (@5th_scape)
May 3, 2024
The 5th Scape VR ecosystem enables the Web3 industry to step into tomorrow, unleashing the next wave of gaming innovation in Virtual Reality. It is the industry’s first AR and VR ecosystem designed to connect the brightest minds, aiming to be the architects of alternative realities, creating a complete hardware and software all-in-one system. Experts like Decrypt Crypto say it is expected to become the next 100x cryptocurrency after launch.
The 5th Scape VR ecosystem also features a Developer Center, where the team is dedicated to providing developers with the right resources to bring their worlds to life and unleash a new wave of gaming innovation. You can become an early adopter of this emerging ecosystem, with pre-sales still ongoing.
Hey,
#5thScape
Family! Just stopping by to share some great news: Our dedicated team has been working tirelessly to up the excitement factor on our newest project!
Stay tuned for cutting-edge updates and enhancements as we continue to redefine what’s possible in gaming.
pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape)
April 30, 2024
Buy 5SCAPE's pre-sale
So far, the funds raised have exceeded the $6.25 million goal.
5th Scape Pre-sale Phase 5 is now open!
Enter a virtual frontier of limitless experiences with 5SCAPE.
Ultra-realistic virtual reality games
Unlock premium content
# Cryptocurrency
#5thScape
pic.twitter.com/EFIJ4MgIs4
— 5th Scape (@5th_scape)
April 12, 2024
If you are interested in buying 5SCAPE, the token of the 5thScape ecosystem, buy it at $0.00327 per coin and get early access to the upcoming 15% increase.
Visit and purchase 5SCAPE here.
Also read:
How to Buy 5th Scape – 5SCAPE Token Presale Review
5th Scape Unveils Unparalleled Virtual Reality Adventure with Token Presale – Investors Should Not Miss Out
5th Scape brings ultra-realistic VR worlds to Web3
If you believe in the future of AR/VR, investing in 5th Scape (5SCAPE) is the best choice
The VR industry is about to get a huge boost thanks to 5th Scape (5SCAPE)
Where to Buy Presale Crypto: Unlock Exclusive Early Investment Now!
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