While Bitcoin (BTC) continues its bullish momentum, Ethereum (ETH) has struggled to break past the $3,800 resistance level in the past month. However, Sandeep Nailwal, cofounder of Polygon, remains highly optimistic about ETH’s near-term price movement.
Bold Prediction for Ethereum’s Future
In a recent post on X (formerly Twitter), Nailwal dismissed bearish market sentiment, predicting that a massive Ethereum price surge is imminent. He believes this rally will be so dramatic that it will “absolutely melt faces.”
His confidence in Ethereum’s growth is rooted in the strength of its Layer 2
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Shiba Inu (SHIB) has plunged 13% in the last 24 hours, following a strong rally that initially fueled optimism among investors. The decline comes as major holders, or whales, appear to have offloaded significant amounts of SHIB, reducing buying pressure. This sell-off reflects waning enthusiasm, with trading volumes also showing a noticeable drop.
Bearish Patterns and Key Levels
SHIB's price is currently consolidating within a bearish descending triangle, a technical pattern often associated with continued declines. To regain momentum, SHIB must stabilize above the $0.00002300 support lev