Gyen Crypto Price Prediction: Check Ethereum based GYEN's Market Stats

Gyen is gaining traction as news of its inclusion on Coinbase has traders wondering about the cryptocurrency's price prospects. Before trading began today, Coinbase Pro customers were able to begin adding the Gyen cryptocurrency to their accounts. Gyen is a Japanese Yen-backed stable coin built on the Ethereum platform.

Digitalcoin is not very optimistic, predicting that Gyen will rise to .013 cents in 2021 and around 4 cents in 2028. WalletInvestor is similarly bearish on Gyen, forecasting a one-year price of .0084 cents, which is lower than the current price. In general, it appears that investors should avoid Gyen for the time being. While the Coinbase listing may help the cryptocurrency gain traction in the future, it appears to be a dangerous investment option at the moment.

Gyen Crypto Price Prediction: Check Ethereum based GYEN Market Stats

When trading began on November 10, the price of the GYEN skyrocketed, although it has since fallen significantly in the last 24 hours as of Wednesday afternoon. InvestorPlace has all of the most up-to-date bitcoin news for Wednesday. This contains a surge in Dunxin Financial stock, new information on Stellar Lumens, and a look at Shiba Inu.

Ethereum insights for yesterday and today 

On Monday, Ethereum dropped 1.33%. Ethereum finished the day at $4,565.06, down 0.37% from the previous day. After a bullish start to the day, Ethereum rose to an intraday high of $4,770.00 in the early afternoon before reversing. Ethereum plummeted to a late intraday low of $4,541.00 after breaking through the first major resistance mark at $4,709.

However, Ethereum completed the day around $4,560 levels, avoiding the first significant support level at $4,530. At the time of writing, Ethereum was trading at $4,542.65, down 0.49 %. Ethereum rose to an early morning high of $4,564.98 before sliding to a low of $4,527.43, indicating a mixed start to the day.

Early on, Ethereum did not challenge the major support and resistance levels. However, unless there is another lengthy sell-off, Ethereum should avoid falling below $4,300. The downside should be limited by the second major support level at $4,396. If the pivot level of $4,625 is not crossed, the first major support level of $4,481 will be tested.

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