The post Ethereum Breaks $2,000 Threshold, While Galaxy Fox Set to Skyrocket appeared first on Coinpedia Fintech News
Ethereum gained considerable momentum following the BlackRock spot ETF announcement to break through its local resistance level at $2,000. $ETH has now formed a solid support zone above this level, creating room for more gains.
Galaxy Fox ($GFOX) is another altcoin in competition for the best cryptocurrencies to invest in 2023. $GFOX has formed a pattern for a significant price rally.
Ethereum Has Recovered $2,000; What’s the Next Price Target?
After a long period of consolidation under $2,000, BlackRock announced its application for a spot ETF. The announcement gave Ethereum a much-needed bullish momentum as its price surged past the $2,000 psychological level.
The surge above $2,000 marked a potential paradigm shift for the $ETH. The Ethereum price has now formed an ascending triangle pattern above the consolidation zone, which is a strong bullish signal. Analysts have forecasted a 136% price increase for the upside of the triangle.
If this pattern holds, the price of $ETH will soar to $4,736 – just $160 shy of its all-time high, making Ethereum one of the best cryptocurrencies to invest in. At 64, the RSI has projected more room for growth. Although no approval has been granted, industry experts have already predicted that Bitcoin and Ethereum will get spot ETFs in the near future.
As such, investors have remained bullish about the price of Ethereum. The only invalidation for this bullish trend is if the price of $ETH breaks and closes below the ascending trendline. The target level for this is at the $1,500 psychological support level.
Galaxy Fox ($GFOX) Raises Investors’ Interest With Unique Gaming Model
Another altcoin that has caught the attention of investors is Galaxy Fox ($GFOX). The project has made a name for itself due to its unique project filled with utility. Galaxy Fox offers a play-to-earn (P2E) model featuring a web3 runner game but has also integrated features of the meme coin sector.
The project was built to leverage the possibilities of the Ethereum network as it aims to become a major player among both meme tokens and P2E platforms. In addition to its P2E game, Galaxy Fox offers rewards for staking, a distinct NFT marketplace, as well as its own line of merchandise.
For more exciting gameplay, the project has integrated some of the coolest NFTs into its game. Each NFT is built with a unique attribute within the game. Players can purchase one of the 3,000 NFTs contained in the collection to enhance their in-game character’s attributes. The NFT gives a player’s character unique skill reinforcement.
The rewards of the project are another feature of Galaxy Fox that has caught the attention of P2E gamers. Half of the funds generated from in-game item sales will be directed to the gamers’ prize fund. The fund will be distributed among the top 20% of players, making Galaxy Fox one of the most profitable blockchain games.
Overall, the unique offering has quickly made Galaxy Fox one of the best ICOs in the gaming industry. As a result, analysts have forecasted up to a 50x price rise when $GFOX is available to the broader market. Now, early investors have a chance at stacking $GFOX as it only trades at $0.00066 per token.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
#PressRelease [Source: Coinpedia]