Lunex Network
Ethereum (ETH) recently breached a multiple-month resistance region of $4,000 after consolidating within its ascending triangle for three years. However, ETH price has marginally lost a significant percentage of its value to trade below the $3,700 region. Analysts have also uncovered different bearish indicators that might offset Ethereum's gain in the coming days.
Like Ethereum, BNB experienced a notable surge this month to surpass the $700 region. However, it entered a consolidation phase that saw the Binance price dip below the $700 region as Lunex Network surpassed a critical presale revenue milestone of over $5.4M. This innovative DeFi project is rapidly gaining momentum, with investors expecting massive returns when officially launched.
Owing to its flawless cross-chain interactions, Lunex Network is quickly becoming a major player in the DeFi sector. The project provides traders with the perfect setting to maximize profits, with access to over 50K swappable assets across 40+ blockchains at reduced fees. This move has seen the Lunex Network presale hit a significant milestone, with over $5.4M in revenue.
Lunex Network's user-friendly interface, backed by DeFi features, makes it a one-stop shop for all. Besides its low trading price, Lunex Network also improves its attraction with its unique profit-sharing concept, allowing LNEX token holders to get part of the platform's weekly earnings. This will create a continuous passive income without locking assets in liquidity pools.
Its non-custodial design guarantees users full control of their assets, enabling unmatched efficiency and security. Besides simple trading, the Lunex Network ecosystem offers major benefits to developers with access to over 65 RPC nodes for creating strong Web 3 projects. The token has attracted major investors with a price surge of over 300%. The LNEX price is also set to hit a new milestone that might surpass the current price of $0.0048.
On-chain data for Ethereum suggest that the divergence of daily active addresses has considerably dipped. This metric assesses the corresponding rally in user engagement when an asset records an upsurge. Based on the reading, Ethereum's price rally is not supported by its network activities, which suggests that its price might pull back.
According to IntoTheBlock's data, Ethereum's holding time has decreased since December 6. If this trend doesn't change, the price of Ethereum might dip below $3,700. Additionally, the cumulative volume delta-a metric used to measure selling and buying pressure in the market has also fallen into the negative zone. This implies that selling pressure has already outweighed the buying pressure for the ETH token.
Meanwhile, renowned crypto expert Benjamin Cowen has disclosed that Ethereum's recent price performance is in an early recovery phase. His ETH price prediction was based on the token's historical tendencies, suggesting significant gains in six to nine months. Technical indicators like the RSI at 57 have also pointed to a bearish outlook.
Having cleared its stubborn resistance zone between $572 and $619, the Binance coin is now targeting to reclaim the $700 level. Binance lost this position due to profit-taking that triggered a pullback below the $700 supported by technical indicators. The relative strength index at 54 also suggests a bearish outlook.
However, Binance continues to draw significant attention with a trading volume surge of over 55% to hit over 3.3B. The increased market activity is set to help the BNB token regain its uptrend movement in the coming days. Moreover, the rising trading volume reflects optimism in Binance's future despite its recent dip.
Additionally, a renewed bullish outlook could see Binance's price reclaim the $700 support region while aiming for further gains. On the downside, a break below the $685 region will trigger further declines, potentially testing the $680 region.
As the year ends, Lunex Network seeks to capitalize on more gains, allowing its investors to enjoy higher ROI. The LNEX token is looking to emulate Ethereum and Binance price movements, which have seen the two tokens reach new highs despite the recent pullback. Like these two, Lunex Network also promises more gains, with the recent one set to happen in just a few days, which could see the token surpassing the $0.0048 region.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
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