Price Prediction: Ethereum Holds Firm Despite Crypto Crash and HUH Token Could Surge

4 Hour Chart According to TradeView
4 Hour Chart According to TradeView

Ethereum's price has been outperforming other cryptocurrencies, as Bitcoin and the majority of altcoins have struggled to recover from recent losses. Meanwhile, new cryptocurrency HUH Token could surge after its initial coin offering (ICO).

Although the second-largest cryptocurrency by market capitalization fell to a three-year low of $3,400 over the weekend, ETH has held firm against BTC, reaching a three-year high on the ETH/BTC chart.

On December 5, the Ethereum price reached a three-year high on the ETH/BTC chart, reaching 0.857 BTC, the highest level since May 2018. Despite the market crash on December 4, the layer 1 token has recovered the majority of its losses, while Bitcoin and other altcoins continue to struggle to gain traction.

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4 Hour Chart According to TradeView

The chart seems to indicate that investors are using ETH as a hedge here against other cryptocurrencies as the market continues to experience extreme volatility this week.

Ethereum's price reclaimed a critical support level at $4,000, indicating that ETH has demonstrated strength and is poised to challenge higher levels.

The first roadblock for Ethereum appears to be at $4,211 at the 78.6 per cent Fibonacci retracement level. After that, ETH will face a significant hurdle at $4,323, where the 21, 50, and 100 twelve-hour Simple Moving Averages (SMAs) converge. If the crypto can break through this level, bulls may be tempted to target the November 26 high of $4,551 next.

However, investors should keep in mind that Ethereum's price must remain above the psychological level of $4,000 to validate the bullish outlook.

If selling pressure increases, ETH may fall toward the support trend line at $3,914 before tumbling to the 200-hour simple moving average at $3,865.

HUH Token (HUH)

New cryptocurrency HUH Token (HUH) has launched on PancakeSwap, and the price may experience a debut surge as a result of the token's strong fundamentals and solid presale levels.
HUH Tokens initial coin offering (ICO) is at $0.00564 and its first psychological barrier will be set at
$0.00600. If it can overcome this barrier, the new cryptocurrency could experience a surge upwards. Volatility is to be expected as the new token finds its feet.

Traders looking to profit from any upswings will add to the volatility in the coming weeks as the long-term bulls begin to form a base.

HUH Token (HUH) has a total supply of 888 billion, according to their White Paper, with 1% (8,880,000,000) already allocated during the presale. Additionally, it charges a standard buy fee of 15% and a standard sell fee of 20%. These tokens will be distributed as follows:

Normal Buy Fee: 15%:
-5% Liquidity Pool Acquisition
-5% HUH Token Redistribution
-5% Marketing Wallet

Normal Sell Fee: 20%:
-10% Liquidity Pool Acquisition
-5% HUH Token Redistribution
-5% Marketing Wallet

HUH Token will have a 5% Dev Wallet that will be used to compensate developers for continuing to improve and adapt HUH Token for the future. The Marketing Wallet is at 10%, and HUH has a robust marketing strategy in place, including the signing of top social media influencers to help promote the token.

Within the first 12 months, HUH Token intends to be listed on approximately 100 exchanges. If this happens HUH's price will become more bullish with each exchange listing, as access to the token becomes easier and more widespread.

Additionally, HUH's creators have locked in $1 million of liquidity for two years from the date of launch to bolster long-term sentiment.

Follow HUH Token on their Socials

Disclaimer: (This article is sponsored and includes some commercial links)

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