Big Eyes raises $9M as Ethereum and Avalanche break resistance

The crypto bull market is back Okay, this may have been a bit rushed, but we’ve seen very positive price action across the market in recent days. As Ethereum price tries to push us into a more positive market, is this a bull trap, or have we bottomed out in this market?

Is Ethereum price finally a factor in a successful merger?

ETH has led the recent bullish price action seen in the cryptocurrency market. Ethereum price broke above multi-week resistance around $1,350 and is currently trading around $1,550.

After what ended up being a lackluster merger, ETH was caught in a relatively stagnant market. Price action around the market is very flat. Quite the contrary, Ethereum has seen massive volatility and liquidity over the past few days, raising a lot of questions about whether we are out of a bear market.

From a technical analysis standpoint, Ethereum looks very strong. The June/July $1,250 resistance zone has now become a very strong support area. From this level, ETH price has rebounded to current levels and appears to have found some stability.

The price action comes at a time when the S&P 500 is also showing strong momentum, up about 5% over the past five days. Does this portend a general bullish sentiment in the tech market? Ethereum and the S&P 500 could be good indicators of broader market sentiment.

Is Avalanche Hopeful for the Next Bull Market?

One of the notable performers of the last bull market, Avalanche, has been a forgotten project during this bear market. Outpaced by Solana, AVAX suffered huge losses and was only traded among the top 20 cryptocurrencies by market cap.

With a strong community of fans and developers during the last bull cycle, the bear market makes one wonder if developers are still as enthusiastic about AVAX technology as before.

However, this could be a classic case of crypto winter, as many projects take advantage of the bear market to boost and expand their technology, only to announce their updates at favorable times, such as altcoin season.

With transaction speeds and costs comparable to Solana, Avalanche has all the tools needed to stand out in the altcoin bull market without sacrificing decentralization. AVAX is trading at $17, which is a great deal compared to its all-time high of $149. A very strong case can now be made to start accumulating this DeFi Layer-1 platform. For more information on Avalanche, see the attached link.

Big Eyes presale takes advantage of a return to bullish conditions

If you’ve never heard of Big Eyes Coin, you must check out its website right now. It redefines what it means to be a successful pre-sale. It’s worth noting that raising $9 million in a few months during a bear market is truly an incredible achievement and shouldn’t get your attention.

With multiple stages left in the pre-sale, buying now can still give you an edge on the much-anticipated release date. The chosen CEX (centralized exchange) has not been announced, but the partnership has been confirmed, as advertised on its website.

The CEX itself may greatly affect the immediate success of the token, which may be the reason why the developers deliberately delayed the announcement. The hype surrounding this cat-themed meme coin is already very high, and the project’s community is already very active considering the token BIG has yet to launch.If you don’t want to miss Big Eyes’ highly anticipated release date, you’d better start hoarding some coins Check out the button below for more info on Big Eyes coins

Source of information: Compiled from CRYPTONEWSZ by 0x information.The copyright belongs to the author and may not be reproduced without permission

Related Posts

Fed Could Cut Rates and Bitcoin Gains

The U.S. central bank, aka the Federal Reserve, is due to release its latest interest rate decision in a little over a week. Upside expectations have been tempered somewhat in light of recent events at U.S. regional banks. Cryptocurrency prices reportedly soared…
Read More

Huge $8.8 Billion Inflow Blows Up Altcoins Will It Be $1 Again?

XRP has become one of the best-performing cryptocurrencies in recent weeks, with the ongoing legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) playing a part in the rise. XRP, in particular, has showcased its impressive performance by breaking…
Read More