Following a massive rally since the start of the year, the cryptocurrency market is now experiencing price resistance. Bulls are rushing to lock in profits.
Since early this year, the cryptocurrency market has been on the mend following a series of unfortunate events in 2022 that caused most cryptocurrencies to lose most of the value gained during the 2021 bull rally. Bitcoin (BTC) and Ethereum (ETH) both lost more than 65% of their value in 2022. However, a more crypto-friendly 2023 has seen the two market leaders recoup more than half of their previously lost value.
Bitcoin Price Prediction
Bitcoin was trading at $24,430 at the time of writing, a 0.76% drop in the previous 24 hours. Some investors believe that this is just a temporary pullback before Bitcoin continues to rise, while others believe that this is the peak of the rally.
For the rally to continue, Bitcoin must break through a key resistance level of $25,452. If Bitcoin breaks above this level, it could reach $26,000 in a few days. If the rally has indeed reached exhaustion and this has been a bull trap rather than a bull run, Bitcoin could fall as low as $21,000.
Ethereum Price Prediction
At the time of press, Ethereum had dropped 0.88% in the previous 24 hours to trade at $1,650. Despite this drop, Ethereum is up 37% since the beginning of the year. Ethereum is one of the market players you can expect to see a rally in 2023, thanks to its arguably best fundamentals in the industry. However, its price indicators predict a short-term price drop. The RSI indicator for Ethereum is approaching 70, indicating that it is oversold. As a result, traders and investors should expect some reversals. The critical support level is $1,600. However, if Ethereum continues to rise, the second-largest cryptocurrency could reach $1800.
TMS Network Is A Better Bet
With so much uncertainty surrounding Bitcoin and Ethereum, it may be best to wait and see what happens. A much better option to invest in at the moment is TMS Network (TMSN). TMS Network is a new market player that has recently taken the cryptoverse by storm. All during the presale period. TMS Network has been hailed as a forerunner in the next generation of trading solutions.
What is the TMS Network?
TMS Network is a decentralized, all-in-one trading platform built on the Ethereum network to disrupt the traditional trading industry. TMS Network (TMSN) users can use crypto to trade a variety of assets such as crypto, equities, FX, and CFDs. Using the network’s first-of-its-kind platform, traders can trade across all major exchanges without having to open an account. All the trader has to do is connect their wallet to enjoy a smooth trading experience with instant transaction processing and no fiat payment required.
TMS Network enters the market at a critical juncture when most traders and investors are transitioning to decentralized blockchain solutions. The shortcomings of centralized solutions, such as security and privacy, are driving this migration. Price manipulation, slow transactions, and insufficient trader education are all common occurrences on traditional trading platforms. TMS Network (TMSN) returns control to the trader, eliminating price manipulation while allowing for fast, secure transactions. Beginner traders can also take advantage of the network’s Trading lessons to hone their skills and trade in a demo account before risking their money.
TMS Network provides traders with a large pool of assets, which opens up traders to wider markets, allowing for faster trades and better prices for increased profits. Furthermore, traders who hold $TMSN tokens earn commissions when other traders use the platform.
$TMSN is trading at $0.0055 in the first round of its presale. The price is dynamic and will rise as the protocol’s popularity grows. Getting in early while prices are still low is a wise move. The presale will last until June 15. Upon launch, TMS Network is expected to return over 1000x to its early investors. What’s keeping you from becoming one? Start your investment journey today with the TMS Presale
For more information on TMS Network (TMSN) please see the links below:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetwork
Twitter: https://twitter.com/tmsnetworkio
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
