The leading altcoin, Ethereum (ETH), has broken out of the recent cryptocurrency price slump.
The Ethereum Sentiment indicator is still bullish despite recent market declines. The altcoin is expected to reach the $2,800 mark soon due to its strong upward momentum.
But a new player appeared on the scene – KangaMoon (KANG), which has the ability to turn the cryptocurrency industry upside down. KANG is considered one of the best altcoins to buy in 2024 due to its distinctive tokennomics and special use case that benefits long-term holders.
This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.
Ethereum (ETH) is regaining its bullish momentum and heading towards $2,800
Ethereum (ETH) began 2024 with a strong bullish momentum that had been building since mid-October 2023. Thanks to this momentum, the price of Ethereum formed a multi-year high at the level of $2,715 on January 12.
However, the cryptocurrency market had a major downtrend following the approval of the Bitcoin ETF. As a result, the price of Ethereum fell to a monthly low of $2,170. Despite the severe decline, Ethereum’s sentiment index remained upbeat. This suggests that ETH may rise in price over the next few weeks.
Technical analysis suggests upside potential in the coming weeks. Ethereum chart shows that the price of the altcoin is set above three key support levels – $2,20, $2,000 and $1,800. Only a break above these levels can turn ETH sentiment bearish.
So, with the support of the bulls, the price of Ethereum will look to chase the target of $2,800. However, based on the chart, a major resistance is forming at the $2,700 level. In order for the price of Ethereum to reach the $2,800 level, the price of the altcoin must overcome this resistance and $2,400.
KangaMoon (KANG) is taking the altcoin market by storm
As Ethereum prepares for an ascent, there’s a new player that looks poised to change the meme coin market. KangaMoon has received a lot of attention for its unique ecosystem, community support, and strategic Tokenomics model.
KangaMoon has created an ecosystem to connect memecon enthusiasts around the world to nurture a vibrant community of like-minded people. The ecosystem is designed to be community-driven, yet allow members to monetize their playtime and compete with players from around the world.
In terms of tokenomics, KangaMoon outperforms the best meme coins. While the likes of Dogecoin have an unlimited supply and SHIB over 589 trillion, KangaMoon launched with only 1 billion KANG tokens. 60% of these will be sold through its pre-sale to promote decentralization in its holdings.
In addition, KANG launched a deflationary model to ensure a long-term increase in the price of the coin. The KangaMoon ecosystem is based on the Ethereum network and is audited by SOLIDProof. As the community grows, the KangaMoon team announced that they will be introducing new projects such as a play and earn environment.
Experts have big plans for the future and have announced KANG as a token that can rank among the best meme coins of 2024. KangaMoon is now valued at $0.005 per coin, but the team expects by the end of 2024 to have 50x raise.
Final thoughts
According to the Positive Sentiment Index, Ethereum is well positioned for a remarkable rally in the coming weeks. But with its current pace and excitement, KangaMoon (KANG) has a chance to become one of the best altcoins to buy in 2024.
Discover the exciting opportunities of the Kangamoon (KANG) Presale today!
Website: https://Kangamoon.com/
Join our Telegram community: https://t.me/Kangamoonofficial
This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.