Investors monitoring DeeStream as analysts expect Ethereum and Immutable to boom before Bitcoin halving
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In the changing world of digital money and online content, Ethereum (ETH) is doing well and showing positive progress. Immutable (IMX) seems to be getting better after a difficult period. Bitcoin (BTC) is holding up strong, with positive data suggesting a potential increase before the halving event.
At the same time, DeeStream (DST) is leading the way in decentralized streaming. Supporters expect more gains in the days ahead, explaining why more investors are exploring the project.
Ethereum likely to break out
Ethereum has recently experienced a breakout from its ascending parallel channel that has persisted since October.
Priced at $3,015, Ethereum’s surge of almost 3% in the last 24 hours is outperforming Bitcoin, showcasing double the gains.
The breakout, coupled with bullish indicators like the RSI and MACD, positions Ethereum for potential gains.
The RSI teases a buy signal, pending execution upon crossing above the signal line. The MACD indicator is also above its signal line, with green histogram bars indicating positive territory.
Enhanced buyer momentum could propel Ethereum to break through the $3,200 resistance, with a bullish case targeting $3,500, last reached on April 5, 2022.
However, a rejection from the upper boundary of the channel may lead to a decline, with support at $2,905 and potential retesting of the mid-line of the channel at the 50% Fibonacci retracement level of $2,572.
Immutable recovering
Immutable witnessed a rebound from a three-day losing streak, finding support at the 20-day EMA.
Despite ongoing struggles, buyers aim to establish a higher low, with potential demand zones at the 20-day and 50-day EMAs.
The critical level near $2.5 may act as a major demand zone and buyers are currently striving to hold near the 20-day EMA and the $3 level.
A sustained move above the 20-day EMA may indicate the completion of a pullback, setting the stage for a new upward swing.
While sellers influence the short-term trend, the long-term trend remains positive, potentially attracting buying volumes if the price undergoes further corrections.
Bitcoin remains bullish
Currently, Bitcoin is valued at $51,660, showing a stable trend around the $52,000 mark over the past week. Despite this, data from on-chain transactions indicates a persistently positive market sentiment.
In the last week, more than $540 million worth of BTC has been withdrawn from centralized exchanges, marking the most significant net outflow in the past eight months.
Historically, significant outflows signal that large investors are securing Bitcoin in private storage in anticipation of a potential price swing.
Accumulation around the $51,000 to $52,000 level remains robust, indicated by an increase in Bitcoin whales holding more than 1,000 BTC.
With the current bullish market factors, Bitcoin has the potential to reach $60,000 before the upcoming halving in April, driven by spot Bitcoin ETFs increasing institutional interest.
DeeStream pioneers decentralized streaming
DeeStream is rising as a decentralized force in online video streaming, addressing challenges faced by content creators.
With lower fees, streamlined withdrawals and a commitment to transparency, DeeStream is creating a marketplace that may benefit both creators and users.
As the global live streaming industry projects to surpass $247 billion by 2027, its unique approach has attracted investor interest.
The ongoing presale at $0.04 per token signifies an early investment opportunity with transformative potential.
DeeStream’s features, including a decentralized model and community-driven governance, set it apart. The ongoing journey signals a significant stride in reshaping the decentralized streaming landscape, challenging norms and setting new standards for innovation.
Investors are closely monitoring DeeStream’s transformative impact on the future of digital media.
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