Ethereum is testing the patience of the DeFi crypto markets with price development lingering close to a strong resistance level. ETH has been displaying early indicators of strength, but confirmations are still awaited, making traders uncertain about which crypto to buy.
Although Ethereum is trying to make a technical breakout, focus is now gradually turning towards a cheaper coin which is considered the best crypto to buy now, especially in DeFi crypto. This shift has led to Mutuum Finance (MUTM) being in the limelight, as institutional-level wallets are rotating into opportunities with more obvious short-term catalysts.
Ethereum Faces a Critical Technical Hurdle
The price of Ethereum has been trending upwards, making small daily increments but still lagging behind overall market growth. Although monthly declines have reduced to a level of 5.7%, with a slight drop from previous performances, it is still 7% short of the breakout level.
Whale activity has also shed some light on this environment. Major whale accounts have accumulated an aggregate balance increase of approximately 90,000 ETH from December 11 to December 12, which is worth close to $293 million at the current price. This particular buying activity has been happening while Ethereum is testing the top edge of this chart pattern.
The resistance levels are still stacked on top. Crossing the barrier of $3,486 effectively creates a way to reach intermediate levels, which are close to $3,712 and $4,249, with a targeted price that is approximately $4,779. On the other hand, a failure to maintain a bullish structure may result in ETH being vulnerable to further declines, especially with a break below $3,152 or even making the entire pattern invalid when below $2,620.
The Mutuum Finance (MUTM) Presale Momentum
Mutuum Finance (MUTM) has been taking advantage of this diverted attention with a brand new crypto at a price of $0.035. Demand has accelerated with a progressing presale that is now in Phase 6, which is 98% full. Mutuum Finance (MUTM) has managed to raise a total of $19,500,000 from presale, with Total MUTM Holders from presale: 18,480. The price in phase 6 is $0.035, which is a 250% or 3.5x increase from the price in phase one of $0.01.
Phase 6 is selling quickly, but the opportunity to buy tokens at such a low price is close to expiring. Now that this investment round is set to close, the next phase, Phase 7, is to go live with a price rise of close to 20%, at $0.04. The launch price for Mutuum Finance (MUTM) token is established at $0.06, placing current investors on track to realize a potential 460% ROI gain after launch.
Mutuum Finance (MUTM), Buy And Distribute Model
Among the factors that are making Mutuum Finance (MUTM) stand out is its buy and distribute model, which is directly linked with the activity on the protocol, with a certain part of the fees that are paid within the lending sector used for buying tokens from the market to redistribute them to mtToken holders.
Mutuum Finance (MUTM) introduced a dashboard that includes a leader board of the top 50 token holders. The 24-hour leader board encourages steady activity, with the #1 buyer rewarded with a $500 bonus of MUTM tokens if at least one transaction takes place within that particular time frame. The leader board resets every day at 00:00 UTC.
Ethereum is nearing a critical juncture, but there is still no official confirmation. The price of $0.035 set for Mutuum Finance (MUTM), which is now in Phase 6, is providing a clearer narrative when it comes to demand. ETH is sitting tight on resistance, but a rapidly approaching presale deadline has solidified the position of MUTM within discussions on which crypto to buy now.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://mutuum.com/
Linktree: https://linktr.ee/mutuumfinance
