Nosana and Ethereum prices are having a good week as the crypto bull run continues. NOS token surged to a high of $3.62 on Tuesday, meaning that it has surged by over 250% in the past 30 days. Its market cap has surged to over $263 million, according to CoinMarketCap.
Meanwhile, Ethereum, the second-biggest cryptocurrency in the world, surged to a high of $2,700, its highest point since January. It has also been in a spectacular bull run after plunging below $1,000 last year.
Ethereum price prediction
ETH price has continued its uptrend in the past few months because of several catalysts. First, while the network is getting a lot of competition, it has maintained its market share in key vital industries like gaming, decentralized finance (DeFi), and gaming.
In DeFi, the network has attained a total value locked of $40 billion, which is higher than that of most blockchains like Tron, Solana, and BNB, combined. It also has the biggest market share in the stablecoin industry with over $70 billion in assets. This is important because stablecoins are how people interact with the blockchain industry.
Ethereum price has soared because of the ongoing crypto rally. Also, it has jumped because most analysts expect that the SEC will approve a spot Ethereum ETF in the coming months. Franklin Templeton, a leading financial services company with over $1.5 trillion in assets is the latest one to apply for an ETF.
Franklin joins other companies like Blackrock, VanEck and Grayscale that have applied for these ETFs. Investors are encouraged by the substantial flows into Bitcoin ETFs, with the three biggest ones having over $27 billion in assets.
However, as I have warned before, the SEC may have a challenge with Ethereum ETFs because of its staking features, which it sees as a security.
Turning to the daily chart, we see that the ETH token price has been in a strong uptrend in the past few days and is now nearing its highest point this year. The coin remains above the 50-day and 25-day moving averages. It is also forming what looks like a bullish pennant pattern, which is a popular sign of a continuation.
Therefore, the outlook for ETH price is bullish, with the next point to watch being the YTD high of $2,717. A move above that price will see it soar to the next psychological point at $3,000.
Nosana price forecast
Nosana’s NOS token has been in a strong upward trend in the past few days and reached an all-time high of $3.64. This means that the token has surged by more than 40k% from its December lows.
For starters, Nosana is a cryptocurrency project valued at over $256 million. It is a DePIN network on Solana;s network that describes itself as the most cost-effective GPU grid. Like Render Network, Nosana helps companies and individuals to monetize their idle GPU. This is a big issue now that companies like Nvidia and Super Micro Computer have surged.
Nosana remains above the 50-day and 100-day moving averages while momentum oscillators are pointing upwards. Therefore, the outlook for the NOS token is bullish, with the next price to watch being at $4. If this happens, it means that the token will need to rise by about 30% from the current level.
Most of these gains will be because of the ongoing crypto bull run that has seen Bitcoin pricejump to over $50,000. It will also jump as it becomes one of the top trending coins in the crypto industry platforms like CoinMarketCap.
