Having struggled with the bear trend for a while, Ethereum has breached the $2400 major resistance zone, proof that a resurgence and possibly a rally are on the way. While Ethereum has continued to witness dumping, mainly from the Ethereum Foundation, the popular altcoin has continued to maintain resilience amid market turbulence.Â
At the same time, the FOMO surrounding Cutoshi has continued to grow due to its robust ecosystem with tools that will bring DeFi closer to the masses. With plans to revolutionize the $60B DeFi market, Cutoshi has made its way to investors’ watch lists, with the CUTO ongoing presale recording massive acceptance among whales. More below.Â
Cutoshi FOMO Grows the Experts Project 40x Rallies in Q4
The excitement surrounding the Cutoshi project has continued to grow in recent weeks as the new DeFi project continues to make waves across the market. Fueling the excitement is the robust Cutoshi ecosystem which is designed to transform the DeFi market and bring DeFi closer to the people. For context, Cutoshi is a project inspired by the traditional Chinese Lucky Cat and Satoshi Namakoto teachings.Â
By linking these together, Cutoshi is developing an ecosystem where power and control rest in the hands of the users. In essence, Cutoshi is following the core DeFi principles of freedom, privacy, anonymity, and monetary empowerment. Unlike other Solana projects like Popcat, which have no utility, Cutoshi is a project that combines a fun meme coin and DeFi utilities.Â
One of the attractive features of the Cutoshi ecosystem is the multichain DEX, designed to solve common problems such as interoperability, security and privacy. The new DEX will allow for easy asset swapping across blockchains. Another fantastic feature is the Cutoshi University, which is designed to enhance users’ understanding of the DeFi space and cryptocurrency.Â
Meanwhile, the CUTO token holds strong utility in the ecosystem. Outside being used for transactions in the university, it is also used as a means of reward to users who participate in Cutoshi farming. Notably, it has a limited supply of 440M with a deflationary mechanism. At the ongoing stage 2 of the presale, it is sold for $0.022. Early buyers have already seen over 46% growth and with demand still soaring, now is the best time to buy before it hits exchanges.
Ethereum Price Signals Upcoming Bullish MomentumÂ
Ethereum has been facing massive selloffs in recent times. According to the latest data from Spot on Chain, the Ethereum Foundation sold 100ETH for 242,828 $DAI a few days ago. Recall that the foundation also dumped 1,250 ETH ($3.06M) in September in a series of selloffs that have affected the altcoin price and even the Ethereum ETF inflows of the past few days. Â
However, the Ethereum price has maintained resilience amid these dumping and looks towards retesting the crucial $2400 mark. Ethereum CoinMarketCap data shows slight 1% gains in the past day as the trading volume hits $15B in daily trading activity. Ali Martinez, an analyst, maintained that Ether key support is at $2,300, where 2.4M addresses purchased 52.6M ETH.
Source: Ali Charts.
Ali thinks that if the altcoin falls below the zone, it could lead to more selloffs. Meanwhile, Ethereum has retested the $2400 mark but still faces a stiff battle at the $2440 mark. A breakthrough could push the price above $2600 soon. Even though key market indicators are down, Coincodex analysts forecast the Ether price to hit $2500 in the short term.Â
While the Crypto Market FUD Is Growing
The recent market setback has increased investors’ fears and uncertainty. While investors were hoping for a bullish October, Bitcoin has struggled to hold a crucial support zone, leading to caution. Even at that, Ethereum’s chart points towards an upcoming rally, while Cutoshi’s ongoing presale is exceeding expectations.Â
For more information on the Cutoshi (CUTO) Presale:
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https://twitter.com/CutoshiToken
