Ethereum ($ETH), Meme Moguls ($MGLS)
Ethereum and MemMogul Price Forecast as SEC Delays Fidelity's Spot ETF $ETH: The analyst says the bulls and the market key $2,450 could see a sharp bounce. Meme Moguls ($MGLS) price reached $0.0027 in Phase 4, a 42% upside to 100x Tok's pre-sale momentum.
Amid the crypto market's bid to break out of recent declines, the price of Ethereum ($ETH) is struggling to hold above $2,400. While most altcoins have mirrored Ethereum's downside activity, with some experiencing double-digit losses in the past 24 hours, new token Meme Moguls ($MGLS) is bucking the tide.
Here's what analysts have to say about Ethereum and MemeMoguls.
SEC delays decision on Fidelity's spot ETF
The US Securities and Exchange Commission (SEC) has postponed its decision on Fidelity's proposal to list an Ethereum ETF after recently approving several positions.
The SEC's filing on Thursday delayed its decision on whether to approve the application until March 5, 2024.
According to Bloomberg ETF analyst James Seifert, the SEC delaying action is in line with market expectations. The regulator expects to push the final decision until the end of May. There are other Ethereum ETF applications before the SEC, including BlackRock and Grayscale.
Meme Moguls ($MGLS): A strong pre-sale suggests market confidence
$MGLS is the native token of the Meme Moguls platform, a new meme-backed trading platform currently in presale.
The project provides an ecosystem where merchants can discover opportunities in the marketplace of meme-inspired assets. Viral shows for meme tokens mean a chance to make a profitable business on meme moguls.
By holding $MGLS, a trader can participate in staking and earn income as well as demonstrate their skills using the peer-to-peer (P2E) environment.
With growing adoption of the crypto business landscape, Meme Moguls makes this a comprehensive community platform. There's an opportunity for everyone, including novice traders who can climb the leaderboards while learning from the moguls in the community.
Currently, the price of Meme Moguls token in the presale has risen to $0.0027 which could be the next 100x token as high interest continues.
The project raised over $1.7 million in token sale stage 4. The token on display is the kind of focus that could fuel $MGLS momentum when it is listed on exchanges after the pre-sale.
Ethereum ($ETH): $2,450 key for bulls
Crypto prices reacted higher when the asset manager first registered for the ETH spot ETF, just as happened after Greyscale won the SEC in the fight to convert GBTC to a spot ETF.
Prices surged as the US securities regulator finally approved the first spot Bitcoin ETF for the US market, with BTC rising to $49,000 and ETH retesting its multi-month high above $2,700.
The price of Ethereum is currently looking to hold the crucial $2,450 support position. It is a key step in the liquidation process witnessed in the last 24 hours.
Commenting on the price outlook, McD, an analyst at on-chain analytics provider CryptoQuant, said, “If a large number of long positions are reduced, causing volatility to the downside, market sentiment is likely to change significantly. The price will hold and bounce back, investors will calm down and go back to buying.
Ethereum and Meme Moguls price prediction conclusion
As regulatory headwinds abound, the crypto market seems confident of the approval of ETH spot ETFs. While the reflection hits on broad sentiment, it is on the current resilience.
Analysts expect Ethereum price to test above the bull market's all-time high of $4,800, and an ETF confirmation in March or May will help fuel this growth.
Meanwhile, meme moguls may explode in the midst of a general upside, including meme coins, when the token enters the market.
To learn more about Meme Moguls or to purchase $MGLS tokens, visit their website.
