Ethereum (ETH) bulls have a big task at hand despite helping the altcoin price rise above $2,700 earlier. This time, the new mission is to prevent ETH from going below $2,400, which is a crucial support level.

In this analysis, BeInCrypto checks if the cryptocurrency will drop below the region or if bulls will successfully defend it.

Ethereum Sees Rising Capital Injection

On October 19, the Chaikin Money Flow on Ethereum’s daily chart dropped to -0.10. Popularly called by its short form, the CMF measures the rate of capital flow in and out of a cryptocurrency.

When the CMF rises, more money flows into the crypto involved. If sustained, this could drive a notable price increase. On the other hand, a negative CMF indicates that money is flowing out and holders are distributing.

At press time, the CMF reading has returned to the positive region. This rise indicates that Ethereum bulls are accumulating the coin. If sustained, this could prevent another price crash like the one experienced some months back.

Read More: How to Buy Ethereum (ETH) and Everything You Need to Know

The Weighted Sentiment is another metric that suggests that ETH’s price could rebound. This metric measures the perception market participants have about a cryptocurrency. When it increases, the broader sentiment is bullish and can lead to increased demand

Conversely, a decrease implies that market participants are cautious about buying the cryptocurrency. In that scenario, it becomes challenging for the price to increase. 

According to Santiment, Ethereum’s Weighted Sentiment has bounced off the neutral line to the positive sentiment, suggesting that ETH’s price could see increased demand.

ETH Price Prediction: After the Decline Comes the Bounce

Currently, Ethereum’s price is around $2,556. On the daily chart, ETH has formed an inverse head-and-shoulders pattern, a bearish to bullish technical pattern.

Even though Ethereum’s price has decreased, this pattern suggests that the trend will soon reverse to the upside. If this is the case, Ethereum bulls are likely to defend the $2,457 region.

Read More: Ethereum (ETH) Price Prediction 2024/2025/2030

If validated, then the altcoin might rally toward $2,839. In a highly bullish situation, it could climb as high as $3,010. However, the failure of bulls to defend the underlying support might invalidate this forecast. In that scenario, ETH could decline to $2,116.

On Tuesday, Bitcoin (BTC) exchange-traded funds (ETFs) experienced their first net negative flow in seven days. This comes amid the steady decline in market activity, which has caused the leading coin’s price to plummet to a weekly low.

As of this writing, Bitcoin trades at $66,776, noting a 2% price drop over the past week. With bearish sentiment steadily increasing around the coin, holders may need to prepare for potential further losses.

Bitcoin ETFs Record Outflows

Data from SosoValue shows that BTC spot ETFs experienced a net outflow of $79.09 million on Tuesday, breaking a streak of seven consecutive days of inflows that totaled over $2 billion.

Read more: Top 7 Platforms To Earn Bitcoin Sign-Up Bonuses in 2024

Tuesday’s negative flow was primarily due to a $134 million outflow from the ARK 21Shares Bitcoin ETF, as other ETF products saw either inflows or recorded no activity. Moreso, the largest ETF provider by assets under management, BlackRock’s iShares Bitcoin ETF (IBIT), recorded $43 million in inflows, significantly down from $329 million the previous day. 

This decline in institutional demand is largely attributed to the recent drop in Bitcoin’s value. Over the past week, the cryptocurrency has fallen by 2%, reaching its lowest price point in seven days as of press time.

BeInCrypto’s assessment of its momentum indicators has revealed the gradual growth in bearish sentiment toward the leading coin. For example, readings from its Moving average convergence/divergence (MACD) show its MACD line (blue) poised to cross below its trend line (orange). 

This indicator measures an asset’s price trends and momentum and identifies potential buy or sell signals. When set up this way, it confirms increased selling pressure in the market. The potential crossover suggests that the asset’s price momentum is weakening, and a downward trend or correction could follow.

BTC Price Prediction: Coin Has Only Two Options

Bitcoin’s price is falling toward its 20-day exponential moving average (EMA), which measures its average price over the past 20 trading days. 

When an asset’s price falls toward this level, it suggests the asset is pulling back but may find support around the 20-day EMA. If the price fails to hold above the 20-day EMA and breaks below it, this significantly increases the possibility of a trend reversal. It suggests that bearish sentiment is growing, and further downside might follow.

As of this writing, Bitcoin is trading at $66,776. This is just above the previous resistance level of $64,543, which it recently flipped into support.

If the growing bearish sentiment causes this support to fail upon retest, Bitcoin’s price could drop toward its next major support at $61,686. Should BTC bears break through this level, the price may plunge further to $58,828.

Read more: Bitcoin (BTC) Price Prediction 2024/2025/2030

However, if market sentiment improves and bullish momentum builds, Bitcoin could rally toward $68,612. Clearing this resistance would position BTC for a potential run to reclaim its all-time high of $73,794.

A renowned trader is predicting a significant 6,400% price surge for Rexas Finance (RXS), a new altcoin challenging both Solana (SOL) and Cardano (ADA) in the crypto market. Rexas Finance, focusing on real-world asset (RWA) tokenization, aims to revolutionize how investors access and trade assets such as real estate, commodities, and more. Currently in its presale, the RXS token is priced at $0.06. The competition is fierce as ADA and SOL are well-established, but Rexas Finance seems to be positioning itself as a strong contender.



Rexas Finance: Bridging real-world assets and blockchain

Rexas Finance is already transforming the way people invest in real-world assets. Through its innovative platform, users can buy and sell fractional ownership of high-value assets such as real estate, gold, and art, making it possible for anyone to own assets with just one click. Rexas Finance also offers tools like the Rexas Token Builder, which simplifies the process of tokenizing real-world assets. This allows users to issue digital tokens representing a proportional share of any asset, creating more liquidity and market access.

The platform’s QuickMint Bot further enhances user experience, enabling even non-expert users to mint tokens seamlessly. Unlike Solana and Cardano, which focus more on digital assets, Rexas Finance integrates blockchain into real-world applications, effectively merging traditional finance with the future of decentralized technology.

Rexas Launchpad and real estate focus

The Rexas Launchpad allows new projects to raise funds through token offerings, giving investors early access to tokens that could see massive appreciation. Stage 1 through 3 of Rexas Finance’s presale sold out swiftly, raising $2.75 million. The fourth stage has seen the price double to $0.06 per token and cross the $3.6 million mark. Investors entering during this phase could see a 3.3x return on their investment upon launch. This momentum is creating serious competition for Solana and Cardano, both of which lack direct exposure to real-world assets.

Rexas Finance’s core focus on real estate makes it unique in the market. The Rexas Estate function allows investors to own fractional shares of property across the globe, from luxurious apartments in New York to beachfront homes in Europe. This form of investment not only provides potential rental income but also allows investors to benefit from the appreciation of real estate values without the burdens of full ownership. The ease of this process attracts a wide range of investors, making Rexas Finance a more attractive option than Solana and Cardano for those interested in real-world asset tokenization.

AI integration and future growth

Beyond real estate, Rexas Finance is incorporating advanced AI features such as the Rexas AI Shield, which offers enhanced security for tokenized assets, and Rexas GenAI, an AI-driven tool that provides investment insights. These tools simplify decision-making and offer users a more secure, efficient way to manage their assets.

Furthermore, the platform’s ongoing $1M Giveaway adds to the excitement surrounding the token’s presale, with 20 lucky winners receiving $50,000 in USDT. Rexas Finance is already listed on CoinMarketCap, adding visibility and credibility. The platform’s ability to tokenize assets like real estate and commodities, coupled with its advanced tools, is rapidly gaining attention. As the presale progresses, the 6400% price surge seems increasingly plausible, making it a strong competitor to SOL and ADA in the expanding crypto market.

⭐️ Milestone Alert! ⭐️

Rexas Finance has successfully raised $4.2 Million! 🚀

Thank you for your support! 👍

Buy Now: https://t.co/tNJAsvAL8G#RexasFinance $RXS #ETH pic.twitter.com/z7cNsBliMQ

— Rexas Finance (@rexasfinance) October 22, 2024

Final thoughts

The legendary trader’s prediction of a 6400% rally for Rexas Finance (RXS) reflects the platform’s strong positioning against established players like Solana and Cardano. With its focus on real-world asset tokenization, Rexas Finance is set to transform how investors access and trade assets. As the presale continues and the platform gains more visibility, Rexas Finance is likely to become a major force in the crypto market, leaving ADA and SOL to compete in an evolving environment where real-world applications hold the most promise.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance