XRP price has hit a new year-to-date high after continuing to form a higher high (HH) pattern. The crypto asset has seen a 40% surge in its weekly time frame, having flipped BNB to become the fifth largest cryptocurrency. On the other hand, Ethereum (ETH) has been hovering near the $3,600 level and could set the stage for a rally to test the $4,093 yearly high resistance.
Alongside this, the Lunex Network (LNEX) presale continues to pick up steam due to recent bullish developments. The project has raised over $3.7 million and delivered 175% ROI to early adopters after witnessing a price surge to $0.0033. Analysts hint more rallies are on the cards for Lunex before its official launch.
Lunex Network Presale Hits $3.7 Million
With its innovative DEX platform and system designed to offer real passive income, Lunex Network aims to enhance trading experience like never before. Its aggregation protocol sources liquidity from multiple exchanges, even splitting a single trade across several chains to ensure the best possible prices. Its smart contract technology will verify trades to ensure the accuracy of each transaction.
This smart contract approach backed by a real-time information aggregation protocol has made Lunex Network (LNEX) a secure and highly efficient protocol. The platform has excelled in offering advanced trading tools, including its portfolio tracker, which supports not just cryptos but also stocks, bonds, and other financial instruments. This versatility makes Lunex the go-to platform for professional traders managing diverse portfolios.
As data protection becomes vital for most traders, Lunex appeals with its solid focus on security. Unlike traditional exchanges, Lunex has removed KYC verification requirements and third-party wallet linking to minimize the risk of data breaches and ensure personal information is safe during transactions. These privacy features have appealed to high-profile investors who seek a discreet trading environment. With this growing user base, Lunex has quickly raised over $3.7 million at its ongoing presale.
XRP Price Forms Bullish Flag Pattern
XRP’s price has grown rapidly, holding its gains above the $1.750 level. Its on-chain metrics have also demonstrated this positive resurgence. The formation of a bullish breakout from a bull flag pattern fueled the recent rally. It triggered a new higher high, highlighting the continuation of the bullish momentum.
Per the Fib extension rule around the trend swing low at $1, XRP’s next target could be at the $1.95 and $2.05 levels, including its previous bull rallies market high of $1.97. This level could act as an overhead resistance. According to crypto analyst Mikybull, the XRP coin could hit the $2 mark, experience a pullback, and continue with the uptrend to a cycle top of possibly $10.
However, it is imperative to note that XRP mid-term and long-term charts indicate clear bearish divergences. The trading volume and XRP price have demonstrated inverse correction since November 16. This suggests that the XRP coin could experience a distribution phase, where investors would potentially sell their tokens. Thus, the probability of a bearish market reversal.
ETH Price Could Hit Its Yearly Resistance of $4,093
Ethereum has experienced a positive resurgence after its CME futures open interest (OI) has seen elevated levels since the U.S. presidential elections. ETH CME OI has breached $2.8 billion for the first time and sent its ETH’s CME futures premium as high as 14%. This renewed positive resurgence has pushed the price of Ethereum near the $3,600 level.
In its weekly time frame, Ethereum has moved above its descending trendline resistance, which had existed since March 11. If the ETH coin holds this move, it could trigger a rally to test its yearly high resistance of $4.093. Meanwhile, Ethereum is approaching the $3.7K resistance on its daily time frame. After the price of ETH validated the inverted Head and Shoulders pattern in the previous week, the ETH token could rally to a new yearly high of $4,522.
However, this scenario will only happen if ETH’s price holds gains above the $3,739 resistance level. Therefore, savvy investors must watch out for a potential bounce-off at the $3,400 level if the market returns to bearish sentiments.
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While XRP and Ethereum are great prospects for long-term gains, Lunex presale offers intriguing opportunities to make short-term gains. By the time of its official launch, analysts expect LNEX to have grown by 1,800%, making it a promising option for high returns.
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