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Ethereum (ETH) continues failing to reclaim the $2,100 resistance, dropping 6% in the past week. As the second largest crypto trades within its “make or break” levels, some market watchers suggest it will continue to move sideways before another major move. Related Reading: ACT Memecoin Crashes 50% As Several Altcoins Suddenly Tank On Binance – What’s Going On? Ethereum Trades At 2023 Levels After closing its worst Q1 since 2018, Ethereum continued moving sideways, hovering between the $1,775-$1,925 price range. Amid last Monday’s recovery, Ethereum traded only 6% below its monthly opening, eyeing a potential positive close in the monthly timeframe. Nonetheless, the cryptocurrency fell over 10% from last week’s high to close the first quarter 45.4% below its January opening and 18.6% from its March opening. Moreover, it registers its worst performance in seven years, recording four consecutive months of bleeding for the first time since 2018. Daan Crypto Trades noted that ETH is “still trading in no man’s land” despite its recent attempts to break above its current range. In early March, Ethereum dropped below the $2,100 mark, losing its 2024 gains and hitting a 16-month low of $1,750. The trader suggested that the crucial levels to watch are a breakdown below $1,750 or a breakout above $2,100. “Anything in between is just going to be a painful chop,” he added. Another market watcher, Merlijn The Trader, highlighted that ETH is at 2021 levels, pointing that it is trading within the breakout zone that led to Ethereum’s all-time high (ATH) but has stronger fundamentals and more institutional demand four years later. “ETH is sitting on the same monthly support that ignited the 2021 bull run. Hold it, and $10K is in play. Lose it… and things get ugly,” he detailed. More Chop Before ETH’s Next Move? Analyst VirtualBacon considers that Ethereum will continue to trade within its current price range for the time being. He explained that ETH’s price has fallen to retest the last bear market resistance levels, as it has erased all its gains since November 2023. The analyst considers this zone a “good value range” but doesn’t expect the cryptocurrency to break out “right away.” However, he added that a bullish breakout is “simply a matter of time” in longer timeframes. “Ethereum always catches up when the Fed pivots and the global liquidity index beings to uptrend. That’s when you see the ETH/BTC ratio start to turn up again, leading the rest of the altcoin market,” he concluded. Related Reading: Is Bitcoin (BTC) Poised For A Q2 Recovery? Analyst Points To 2017 Similarities Ali Martinez pointed out that the number of large ETH transactions has significantly declined in over a month, dropping 63.8% since February 25. During this period, large transactions fell from 14,500 to 5,190, signaling a drop in whale activity on the network. He also noted that whales have sold 760,000 ETH in the last two weeks. As of this writing, Ethereum trades at $1,903, a 6% drop in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

As Bitcoin (BTC) attempts to reclaim the $84,000 barrier again, the flagship crypto risks closing the Month in red numbers. Some analysts suggest that BTC’s Q2 performance could mimic its 2017 rally. Related Reading: Ethereum Price Confirms Breakout From Ascending Triangle, Target Set At $7,800 Bitcoin Retests $84,000 A week ago, Bitcoin saw a star-of-week pump to retest the $88,000-$89,000 resistance zone. The flagship cryptocurrency surged to a two-week high of $88,765, hovering between the $85,000 to $88,000 price range for most of the week. However, as the weekend approached, BTC lost its range, falling to $84,000 on Friday and continuing to dip over the next two days. Bitcoin saw an 8.2% weekly drop during the early Monday hours, hitting $81,278 before recovering. After hitting its lowest price in two weeks, the largest crypto by market capitalization bounced from the range lows, nearing the key $84,000 barrier again. This zone has been a crucial resistance level since Bitcoin lost its post-November breakout range a month ago. Since then, BTC has failed to maintain this level for significant periods. Amid the market correction, trader Daan Crypto Trades noted that Bitcoin has created another CME Gap, becoming the fifth consecutive week that a gap has been created due to price movement during the weekend, with all the previous ones being closed “relatively quickly.” This week’s CME gap, between $82,500 and $84,100, was almost filled after this morning’s rally. However, analyst Rekt Capital pointed out, “BTC will need to rally more than that to try to seriously challenge for a reclaim of the recently lost Higher Low,” at around $85,000. BTC To Consolidate For Longer? Ted Pillows suggested BTC’s performance could see a Q2 recovery based on its 2017 price action. The analyst highlighted that during US president Donald Trump’s first term, Bitcoin’s “real rally” didn’t start until 2017’s second quarter. Per the post, “BTC’s real gains during Trump’s first presidency started after Q1 2027. For the first two months, BTC just consolidated in a range similar to now.” Then, it started to gain momentum in April, pumping from $1,400 to $20,000 until December 2017. Ted considers that if Bitcoin continues to follow its 2017 path, it could see a massive rally toward a new all-time high (ATH) later this year. It’s worth noting that Q2 has historically been mostly favorable for BTC, CoinGlass data shows. Meanwhile, Rekt Capital also suggested that Bitcoin will likely continue consolidating a little bit longer after the recent price correction. The analyst pointed out that BTC failed to confirm its breakout from its triangular market structure. He previously explained that, over the past six weeks, BTC has been consolidating between the two biggest bull market Exponential Moving Averages (EMAs), the 21-week and 50-week EMAs, in a “very similar fashion to mid-2021.” Related Reading: XRP & These Altcoins Share The Same TA Fate—What’s Coming? The analyst added that in mid-2021, “Bitcoin didn’t break from this similar triangular market structure right away either, upside-wicking towards and into the 21-week EMA but ultimately rejecting from there to experience additional consolidation between the two EMAs.” This could suggest that the flagship crypto “is sentenced to a bit more consolidation between the two EMAs” before attempting to “kickstart an uptrend continuation towards the Re-Accumulation Range Low of $93,500.” As of this writing, Bitcoin is trading at $83,297, a 1% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

As Ethereum (ETH) continues to experience a significant price downturn, recording a 17% drop over the past month, key resistance levels have emerged as critical points for the second-largest cryptocurrency. Analysts suggest that these levels could ignite a potential trend reversal if reclaimed. Ethereum Faces Potential Decline To $1,155 In a recent update shared on social media platform X (formerly Twitter), crypto analyst Ali Martinez highlighted two pivotal price points for Ethereum’s immediate future.  The first, set at $2,100, is seen as a necessary threshold for initiating a new upward trend. However, the $2,300 mark is regarded as a “more decisive” level that Ethereum must breach to confirm a bullish reversal. Related Reading: Bitcoin Price Struggles: Crypto Analyst Bucks Back Against Bearish Sentiment, Top Is Not In Martinez’s analysis, based on the one-day chart seen below, indicates that if Ethereum fails to reclaim these levels, it may lead to a further decline.  The next target points to watch would be $1,600 and $1,155, levels that could indicate a new downtrend. Such a decline would represent additional losses of 12% and over 37%, respectively, marking a troubling continuation of Ethereum’s worst first quarter in its history. In another post, the analyst also pointed out that the Ethereum price is facing a significant resistance wall between $2,200 and $2,580. On-chain data from the analytics firm IntoTheBlock reveals that approximately 12.43 million investors have bought about 66.18 million ETH within this price range.  A breakout above these levels could potentially generate bullish momentum for the cryptocurrency. However, bullish catalysts that could trigger a move above these levels remain scarce among experts. ETH’s Largest Accumulation Zone Under Threat Market intelligence firm Glassnode has indicated that ETH’s Cost Basis Distribution shows limited support near current prices. Weekly data suggests that addresses with a cost basis around $1,800 have not re-engaged. Many investors are reportedly selling at a loss, further adding to the current price uncertainty. On March 28, several clusters of approximately 250,000 ETH with cost bases between $2,000 and $2,050 effectively vanished, indicating that some higher-cost holders are attempting to average down their positions.  However, Glassnode asserts that the overall Ethereum accumulation zone appears limited at current price levels, raising questions about future stabilization for the second largest cryptocurrency. Related Reading: Chainlink Weekly Indicator Flashes Buy Signal – Can Bulls Hold $13.20 Support? The largest accumulation zone below the current market price now sits at $1,537, where nearly 994,000 ETH was acquired. If the downtrend continues, this level is expected to serve as structural support in the near term, potentially providing a buffer against further declines. ETH is currently trading at $1,830, down 12% for the week. Featured image from DALL-E, chart from TradingView.com 

Amid today’s market correction, Chainlink (LINK) has lost its recent gains, falling back to a crucial support level. An analyst suggests a monthly close above its current range could position the cryptocurrency for a 35% surge. Related Reading: SUI Reclaims Key $2.40 Support Amid Breakout – Is A New High Coming? Chainlink Retest Crucial Price Zone Chainlink has retraced 9.1% in the past 24 hours to retest the key $14 support zone again. The cryptocurrency surged 15.7% from last Friday’s lows to hit an 18-day high of $16 on Wednesday, momentarily recovering 35% from this month’s low. However, the recent market correction halted the momentum of most cryptocurrencies, with Bitcoin (BTC) falling back to the $83,700 mark and Ethereum (ETH) dipping to the $1,860 support zone. Today, LINK dropped from $15 to $14.07, losing all its Wednesday gains. Previously, analyst Ali Martinez noted that the cryptocurrency has been in an ascending parallel channel since July 2023. Chainlink has hovered between the pattern’s upper and lower boundary for the last year and a half, surging to the channel’s upper trendline every time it retested the lower zone before dropping back. Amid its recent price performance, the cryptocurrency is retesting the channel’s lower boundary, suggesting a bounce to the upper range could come if it holds its current price levels. Meanwhile, Rekt Capital highlighted that the token is testing its multi-month symmetrical triangle pattern, which could determine the cryptocurrency’s next move. As the analyst explained, Chainlink consolidated inside a “Macro Triangular market structure” for most of 2024 before breaking out of the pattern during the November market rally. During the Q4 2024 breakout, the cryptocurrency hit a two-year high of $30.9 but failed to hold this level in the following weeks. As a result, it has been in a downtrend for the past three months, with LINK’s price falling back into the Macro Triangle. “The main goal for LINK here is to retest the top of the pattern to secure a successful post-breakout retest,” Rekt Capital detailed, adding, “It’s possible this is a volatile post-breakout retest.” LINK Needs To Hold This Level Rekt Capital pointed out that, historically, Chainlink has had downside deviations into this price range: “Back in mid-2021, LINK produced a downside deviation into this price area in the form of multiple Monthly downside wicks.” Nonetheless, the cryptocurrency is downside deviating “but in the form of actual candle-bodies closes rather than downside wicks” this time. The analyst also highlighted that, like in 2021, LINK is trading within a historical demand area, at around $13-5 and $15.5, testing this zone as support. Based on this, the cryptocurrency must successfully hold this area to “position itself for upside going forward.” Related Reading: Is Solana Preparing For Rally To $180? SOL’s Social Sentiment Hits Historic Positive Levels Moreover, the retest is key for reclaiming the top of its triangular market structure. Breaking and recovering that level would “exact a successful post-breakout retest” and enable the price to target the $19 resistance in the future. The analyst concluded that if LINK closes the month above the triangle top, it “would position price for a successful retest, despite the downside deviation.” As of this writing, Chainlink trades at $14.09, a 6.9% drop in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Solana (SOL) is attempting to reclaim a key support level amid the recent market recovery, with bullish sentiment seemingly returning to the Altcoin. Some analysts suggested that its momentum could propel the cryptocurrency to the next crucial resistance. Related Reading: Analyst Says Bitcoin (BTC) Could See A 14% Price Jump If This Level Is Reclaimed Solana Sentiment Hits Positive Levels Again Over the past few days, Solana has seen a bullish recovery from last week’s lows, surging 14% from the $121 support. The market’s recovery has propelled the token above the $145 barrier earlier this week, after printing five consecutive green daily candles. Amid this week’s surge, on-chain analytics platform Santiment highlighted that Solana’s social sentiment has seen a massive surge to historic highs fueled by institutional interest, technological advantages, community support, and influencer engagement. “With news of institutions like GameStop and BlackRock are integrating Bitcoin and launching yield-bearing tokenized treasury funds on Solana, crypto’s #5 market cap asset is seeing an astounding level of bullish sentiment pouring in on social media,” explained Santiment’s Director of Marketing, Brian Quinlivan. Per the post, social media posts reflect optimism for SOL’s price recovery and a bullish outlook on the broader crypto market. Notably, Solana registers a “nearly unheard of positive vs. negative commentary ratio of 18:1 right now.” Just a month ago, the SOL’s sentiment hit its lowest level in a year. According to analyst Miles Deutscher, the sentiment has not been at those levels since Solana reclaimed the $100 barrier in early 2024. It’s worth noting that market sentiment significantly shifted following the collapse of the memecoin frenzy, which fueled SOL’s rally throughout last year. After the TRUMP and MELANIA memecoin launches and the LIBRA token controversy, several community members expressed increasing fatigue from the numerous scams. Subsequently, the cryptocurrency’s price dropped over 50% from its January all-time high (ATH), losing the $200 support zone and hitting a yearly low of $111 earlier this month. SOL Gearing Up For Next Big Resistance Various market watchers noted Solana’s recent performance, underscoring the reclaim of the $136 level on Monday. This level has been a significant resistance for the past two weeks and has also served as a key breakout level during the Q1 and Q4 2024 breakouts. Analyst Jelle considers there’s “a lot of ground to cover” despite the “solid reclaim” of the 2024 range lows. Meanwhile, another market watcher pointed out that Solana broke out an ascending triangle pattern after the price surge. Related Reading: SUI Reclaims Key $2.40 Support Amid Breakout – Is A New High Coming? After attempting to reclaim the $140 mark this morning, SOL is currently retesting the recently recovered support, hovering between the $136-$139 price range. A successful breakout confirmation could impulse Solana’s rally toward the next big barrier, at $180. According to Ether Wizz, SOL is “fully ready for its next B I G move.” Once the next crucial resistance is broken, the “next leg up will take us towards $270. Many people are still not ready for this move,” the analyst concluded. As of this writing, Solana trades at $138, a 2% surge in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Dogecoin (DOGE), the leading memecoin in the cryptocurrency market, is showing signs of a potential bullish trend following a significant 16% price recovery. Analysts suggest that for Dogecoin to solidify this upward momentum, it must surpass a crucial resistance level. Dogecoin Eyes New Bullish Trend Amid Market Recovery The recent price movements of Dogecoin have been influenced by broader market trends and macroeconomic factors, particularly the fallout from President Donald Trump’s tariff policies.  After reaching a yearly high of $0.4350 on January 18, Dogecoin experienced a dramatic decline, plummeting 67% to a low of $0.1430 on March 11. However, the recent positive performance indicates that a new bullish wave may be emerging. Related Reading: Dogecoin Price Prediction: Analyst says There Is 100% Chance Of A Bullish Rally, Here’s Why Market analyst Ali Martinez has pointed in a recent social media post on X (formerly Twitter) to the SuperTrend indicator, a technical analysis tool that helps identify price trends, suggesting that Dogecoin could enter a bullish phase if it successfully breaks through the resistance level at $0.21.  The analyst further identified the key support floor for the Dogecoin price at $0.177, which will be crucial in determining whether the token can sustain its recovery or if it will face another downtrend. Should Dogecoin fail to hold this support level, it could revisit once again the $0.14 price point, where significant buying pressure previously helped support the price. This scenario could erase the gains made over the last two weeks. Eyeing $0.50 And Potential All-Time High Of $1.60 Adding weight to Martinez’s analysis, data from Glassnode reveals that 7% of Dogecoin’s total supply is concentrated at the $0.20 mark, which is the third-largest concentration after $0.17 and $0.07.  According to Glassnode, this concentration suggests that the $0.20 level may act as a formidable resistance point in the near term, as many wallets likely acquired their holdings at lower prices. In a more positive note for the token and despite the current uncertainties surrounding Dogecoin’s price, analysts remain optimistic about the memecoin’s long-term prospects.  Related Reading: Bitcoin Marks 114 Weeks In Active Buy Signal On The SuperTrend Weekly, But Things Could Turn Bad If This Happens According to experts like AMCrypto, Dogecoin has recently tested a multi-year support trendline, indicating a potential for sustained upward movement. “Memes are slowly moving up now, and I expect DOGE to lead the rally,” one analyst stated, setting a target of $0.50 in the second quarter of the year. Other analysts, including ChartingGuy, have suggested that Dogecoin could aim for a new all-time high of $1.60, representing a staggering potential increase of 742% from its current levels and surpassing its previous record of $0.7316. Featured image from DALL-E, chart from TradingView.com

Sui Network’s native token, SUI, has reclaimed a crucial level after its 10% price breakout. The token has shown bullish momentum over the past few days, climbing to weekly highs on Wednesday. Various market watchers suggested the momentum could send the cryptocurrency to new highs in Q2. Related Reading: Analyst Says Bitcoin (BTC) Could See A 14% Price Jump If This Level Is Reclaimed  SUI Reclaims Key Breakout Level Today, SUI, one of the cycle’s leading tokens, retested the $2.60 resistance for the first time in nearly three weeks after reclaiming a key support zone on Tuesday. The cryptocurrency has lost several crucial levels during the Q1 2025 retraces, falling over 50% from its January all-time high (ATH) to a four-month low of $1.96. However, it has regained momentum amid institutional adoption, including its partnership with World Liberty Financial (WLFI), US President Donald Trump’s crypto venture, and Canary Capital’s recent filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). The cryptocurrency moved toward the $2.45 mark in the following days, suggesting that holding this level could send SUI to the next crucial barrier. After pulling back to $2.20, the token’s momentum resumed on Saturday, rising 13% in the past week after printing five consecutive green candles. Amid its performance, some analysts noted that SUI reclaimed the key $2.40 support, which served as a significant resistance during the post-US elections breakout and a bounce zone during the February retraces. Analyst Michäel van de Poppe suggested that the token is “one to keep an eye on,” highlighting that the “tremendous” retest of the high timeframe support “indicates that we’re likely going to expand to the upside from here.” Is It Ready For New Highs? In the past 24 hours, SUI surged 10% to the $2.60 resistance, hitting a 20-day high of $2.65 on Wednesday before retracing. As various market watchers pointed out, this price action has seen the token break out of a multi-month falling wedge pattern. A retest and confirmation of the breakout level could propel the token to attempt to reclaim its two-month downtrend. Analyst Sjuul from AltCryptoGems considers that the cryptocurrency should be “ready to go” to the $2.80 mark, based on its “bullish market structure and nice strength.” Previously, Ali Martinez suggested that after reclaiming the $2.45 level, SUI would be poised for a 15% move to this area. Related Reading: Ethereum To End March In Green? ETH ‘Only’ 6% Away From Positive Monthly Close Moreover, the token could also surge toward a new high if history repeats itself. Since 2023, SUI has broken out of a multi-month falling wedge twice, in October 2023 and August 2024, which propelled the cryptocurrency to new ATHs in the coming months. Meanwhile, trader Crypto Bullet noted that the cryptocurrency has recently reclaimed the 365-day Exponential Moving Average (EMA) after trading below it over the past few weeks. According to the trader, holding this level as support could impulse the token’s rally toward its January high of $5.37. As of this writing, SUI trades at $2.58, a 5.5% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Analysts at Bernstein have made a bold prediction regarding MicroStrategy, now known as Strategy, the Bitcoin proxy firm co-founded by Michael Saylor. They forecast that it could amass over 1 million Bitcoin (BTC) by 2033, potentially positioning Strategy to hold 5% of BTC’s total supply.  Strategy Stock (MSTR) Receives ‘Outperform’ Rating  Led by analyst Gautam Chhugani, Bernstein’s research note reflects an updated bullish case based on Strategy’s strong Q4 financial results and its recent aggressive Bitcoin purchases.  The firm has assigned an “outperform” rating to Strategy’s stock (MSTR) with a price target of $600, suggesting a potential upside of 75% from its current trading level.As of now, Strategy’s stock is priced at $335.26, having experienced a slight decline of 2.09% recently.  Related Reading: Whale Alert: 200 Million Dogecoin Bought—Is A Price Rally On The Horizon? Bernstein’s analysis indicates that Bitcoin could reach $200,000 by the end of 2025, $500,000 by 2029, and soar to $1 million by 2033, reflecting a potential 1,044% increase for the market’s leading cryptocurrency in the next 8 years from current valuations.  This projected growth in Bitcoin’s value is expected to significantly enhance Strategy’s earnings per share, which are anticipated to rise to $207, up from the current $67.50. Holdings Set To Surge To 5.8% Of Supply In a “bull case” scenario, the analysts predict that Strategy’s Bitcoin holdings could increase to represent 5.8% of the current circulating supply of approximately 19.8 million BTC, compared to only 2.5% at present, assuming favorable capital market conditions with low interest rates and a sustained bull cycle in cryptocurrency. However, with this growth comes a substantial increase in debt, which Bernstein estimates could reach $100 billion, coupled with equity proceeds of around $84 billion.  In a more conservative base case, the analysts expect Strategy’s holdings to climb to about 4% of Bitcoin’s circulating supply, while a bear case could see stagnation at approximately 2.6%, potentially leading to forced liquidations of assets. Related Reading: Analyst Unveils Extended XRP Price Target To $44, Reveals When To Take Profits As of March 25, Strategy owned 506,137 Bitcoin, acquired at an average price of $66,608, which equates to a total value of around $33.7 billion. Recently, the company made headlines by purchasing an additional 6,911 BTC for $584.1 million through a combination of selling MSTR stock and issuing perpetual preferred shares (noted as STRK and STRF).  Bernstein views Strategy’s Bitcoin treasury as a core component of its business model, despite facing challenges related to its premium-to-net asset value (NAV) valuation and the aggressive pace of its Bitcoin acquisitions.  On Tuesday, Strategy’s shares closed at $341.81, reflecting a gain of 1.8%, reinforcing its position as a key player in institutional Bitcoin accumulation. Similarly, Bitcoin has also seen a 5% increase in the fourteen day time frame, trading at $87,470 at the time of writing. Featured image from DALL-E, chart from TradingView.com

Bitcoin (BTC) climbed nearly 5% in the past week, reclaiming key support levels over the past three days. The recent bullish momentum has sent BTC toward the $88,000 mark, with some analysts suggesting a reclaim of its previous price range could be near. Related Reading: Ethereum To End March In Green? ETH ‘Only’ 6% Away From Positive Monthly Close Bitcoin Recovery Could Trigger 14% Surge After being rejected from the $84,000-$85,000 zone several times in the past two weeks, Bitcoin reclaimed this range over the weekend. The flagship crypto has surged 4.7% from last week’s levels, closing the week above the $86,000 mark. During the start-of-week pump, BTC eyed the $89,000 resistance, hitting a biweekly high of $88,765, but failed to retest the next crucial zone as bullish momentum slowed. Nonetheless, the cryptocurrency has held its current range, hovering between the $86-000-$88,000 support zone for the past 24 hours. Analyst Alex Clary affirmed that Bitcoin’s momentum “looks awesome” for a break above the $88,000-$90,000 support zone as the cryptocurrency shows a Relative Strength Index (RSI) bullish divergence, a V-shaped recovery, and has broken above its downtrend resistance. Per the post, a breakout and reclaim of the crucial $90,000 resistance level could propel BTC to jump between 8 to 14% from current prices to the $95,000-$100,000 levels lost in February. Meanwhile, Daan Crypto Trades noted that Bitcoin “has not moved much in the past few weeks relative to SPX.” According to the trader, BTC’s price has been correlated to the S&P 500 (SPX) and “has mostly been moving hand in hand with each other,” which could explain the flagship crypto’s recent dump and bounce. However, he affirmed that Bitcoin is still trading “at a solid spot premium during this bounce,” suggesting that a move to new local highs is possible if BTC maintains the current levels and reclaims the post-US election breakout range above $90,000. BTC Must Hold This Level By Week’s End Amid Monday’s market recovery, Analyst Rekt Capital warned that Bitcoin needs weekly closes above $88,400 and $93,500 to end its downside deviation period. The analyst explained that, over the past five weeks, BTC has been consolidating between the two biggest bull market Exponential Moving Averages (EMAs), the 21-week and 50-week EMAs. Its price action has recently gotten closer to the 21-week EMA, at around $88,400, ready “for a major trend decision.” According to the analyst, Bitcoin needs a weekly close above this level and a retest into support to target its Macro Range. “This was the exact confirmation that Bitcoin needed back in mid-2021 when the price crashed -55%,” Rekt Capital noted, suggesting that “things could get volatile both on the upside (trapping FOMO buyers in the upside wick) and the downside (with panic sellers selling into a downside wick),” if history repeats. A weekly close above it “could kickstart an uptrend continuation towards the Re-Accumulation Range Low of $93,500.” Moreover, after reclaiming the 21-week EMA, Bitcoin will need a weekly close above the re-accumulation range low to “resynchronize with the Range.” Related Reading: Crypto Expert Arthur Hayes Reveals Why Bitcoin Price Will Touch $110,000 Before $76,500 Despite this, he warned that “the Post-Halving Re-Accumulation Range has shown that simple Weekly Closes above $93,500 may not suffice” as it would need “a successful post-breakout retest of the Re-Accumulation Range Low” to confirm resynchronization with the range. He concluded that failing to successfully retest and confirm the new support could cause BTC’s price to lose this crucial level and deviate to the downside again. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has experienced one of its most challenging starts to the year, recording its second-worst performance in the first quarter of its history.  As of now, ETH is trading just above the crucial support level of $2,000, reflecting a year-to-date decline of 43%. This stark contrast is particularly notable when compared to Bitcoin (BTC) and XRP, which have seen gains of 23% and an astonishing 279%, respectively, during the same period. Could A 60% Surge In Q2 Bring It Back To $3,200? Market expert Lark Davis has drawn attention to the dramatic downturn in Ethereum’s price in a recent social media update, highlighting a 38% drop in Q1 of this year for the altcoin.  This figure is alarmingly close to its worst quarterly performance of 46% recorded during the first quarter of 2018, as noted in the comparison chart shared by Davis.  Related Reading: XRP Breakout On Hold? Financial Expert Reveals What’s Missing Following that troubling quarter in 2018, Ethereum saw a brief recovery of 15% in Q2, only to face more than 40% declines in the subsequent quarters, respectively, raising concerns for current investors that this pattern might occur once again in this cycle. Despite these discouraging figures, Davis posed an interesting question regarding the potential for an “explosive” second quarter for Ethereum. Historically, since 2016, ETH has averaged a remarkable 66% surge during this period.  If this trend continues and the Ethereum price were to achieve a 60% increase in the coming months, its price could climb to $3,200 per token—levels not seen since early February of this year. Crypto Expert Predicts 1,100% Surge For The Ethereum Price  While short-term challenges remain, many analysts retain a long-term bullish outlook for Ethereum. Crypto analyst Merlijn drew parallels between the current market conditions and Bitcoin’s past performance, suggesting that Ethereum is poised for a similar trajectory.  The analyst noted, “Accumulation, breakout, and V-shape recovery loading,” implying that a new bull run could be on the horizon for ETH, with forecasts suggesting it could reach up to $24,000 during this cycle—a major 1,100% increase. Related Reading: Crypto Expert Arthur Hayes Reveals Why Bitcoin Price Will Touch $110,000 Before $76,500 However, the path to recovery is not without its hurdles. Expert Ali Martinez recently highlighted key resistance levels that Ethereum must overcome for a sustainable rebound in the short-term.  Martinez noted that ETH’s price has reclaimed its realized price of $2,040, but the next significant challenge lies at the $2,300 mark, where strong resistance has been observed for the leading altcoin. Despite a recent recovery that saw a 10% spike in the past two weeks, Ethereum still faces notable monthly losses, down nearly 25% following a broader market correction.  Featured image from DALL-E, chart from TradingView.com

On Monday, Ethereum (ETH) recovered the $2,000 support, fueled by the market’s recovery. After hitting a two-week high of $2,104, an analyst noted that the cryptocurrency could end March positively. Related Reading: Solana Next Major Move? SOL’s Renewed Uptrend Smashes Through $137 Ethereum Nears Green Monthly Close In the past 24 hours, Ethereum surged 6.2% from the $1,980 mark to $2,104. The start-of-week recovery made ETH retest the $2,100 resistance for the first time in a week and near its crucial price range. Amid the recent performance, Rekt Capital noted that the cryptocurrency’s price action is “not that far away” from turning the downside deviation into a downside wick in the monthly timeframe. ETH dropped below the $2,196-$3,900 range on March 9, plunging to $1,750 in the following days, its lowest level since November 2023. After retesting a historical demand arena, “Ethereum is now only +5% away from positioning itself for a reclaim of its Macro Range,” the analyst explained. Reclaiming this level before March closes would see “this entire sub-$2,200 downside end up as a downside wick.” Moreover, CoinGlass data shows Ethereum’s current price action is 6.8% away from turning March green. The cryptocurrency opened the month at $2,237, and a close above this level could end its three-month bleeding streak. However, if it fails to close March with positive returns, ETH could experience four months of red for the first time since 2018. The “King of Altcoins” has seen its worst Q1 in seven years, currently down 37.46% from its 2025 opening. Nonetheless, Ethereum has historically seen a bullish Q2, only closing the second quarter in red on two occasions. A recovery of ETH’s Macro Range lows could see the cryptocurrency climb back to the range’s highs in the coming three months. Can ETH Recover 2,200? Analyst Ali Martinez pointed out the key levels to watch, suggesting that Ethereum’s most crucial support zone is between $1,886 and $1.944, where more than 3 million investors bought around 6.12 million ETH. Meanwhile, its most significant resistance is between $2,250 and $2,610, where 12.28 million addresses accumulated 65 million ETH. He added that “a decisive break above this area would negate the bearish outlook.” Similarly, Crypto Jelle highlighted that ETH is attempting to reclaim the key $2,200 resistance, which could fuel a “monster deviation” if recovered. Analyst Ted Pillows suggested that Ethereum’s manipulation phase “is almost over.” Previously, the analyst asserted that ETH’s chart displayed a Power of Three (Po3) pattern in the making, signaling that the cryptocurrency is in the manipulation phase. Related Reading: Bitcoin Bottom In Sight As Trump Expected To Soften Stance On Reciprocal Tariffs: Report According to the analyst, “A breakout above $2,200 and an expansion phase will start.” He noted that the breakout could be possible as ETH retested its multi-year trendline support, which has only been retested three times since 2021. The last two times, “they marked the cycle bottom,” which could suggest that Ethereum’s bleeding is poised for a recovery if it repeats its historical performance. As of this writing, Ethereum trades at $2,090, a 4.3% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

As Bitcoin (BTC) stabilizes above the critical $80,000 support level after a significant downturn of over 25% from its January peak, market analyst Doctor Profit has released a compelling report that raises a pivotal question: is the market witnessing the onset of a bear market, or is the bullish sentiment still intact? M2 Money Supply And Bitcoin Price Doctor Profit emphasizes the crucial role of liquidity in the current market landscape. While many celebrate the increase in the M2 Money Supply—a key economic indicator—there’s a vital need to understand the timing of its effects.  Historically, M2 has shown a strong correlation with Bitcoin’s price movements. Unlike stock markets, which typically react to M2 expansions after a lag of about six months, Bitcoin tends to respond more rapidly, though not instantaneously. According to the analyst, the “misconception” that money printing leads to immediate market upswings is addressed, as there are multiple factors at play, including macroeconomic conditions.  Related Reading: Analyst Says Dogecoin Could Skyrocket 16% Any Moment The Federal Open Market Committee (FOMC) decisions regarding interest rates are particularly influential. Although official data suggests inflation is declining, underlying realities, such as OPEC’s influence on oil prices, complicate the outlook. In the context of rising M2, Doctor Profit predicts that Bitcoin’s bullish trend could resume around May or June, but anticipates a period of sideways movement and potential short-term bearish pressure leading up to that point. He warns that many who are currently bullish may shift to a bearish stance as the market evolves. In the report, Doctor Profit highlights the significance of the weekly EMA50—a critical moving average he refers to as the “Golden Line”—which Bitcoin has respected in recent price action. After bouncing off this line at $76,000, the cryptocurrency reached the anticipated $87.4K, triggering several short positions. Long-Term Bullish Outlook With Short-Term Caution Looking ahead, Doctor Profit’s strategy involves targeting a potential drop to the $70,000 to $74,000 zone. This region is crucial; if Bitcoin merely wicks into it but then closes strongly above the Golden Line, he plans to take long positions.  Doctor Profit maintains a bullish long-term outlook, expecting a resumption of the bull run by mid-2024, with price targets ranging from $120,000 to $140,000. He remains cautious, holding significant cash reserves and expanding short positions in anticipation of market fluctuations. Related Reading: XRP Jumps 7% After Surge In Network Activity & Whale Buying Doctor Profit outlines two bearish scenarios that traders should consider: a manageable drop to the $70,000 to $74,000 range and the more severe “Black Swan” event that could push prices down to the $50,000 region. While he is confident in a bounce at the higher target, he advises preparedness for both scenarios. At the time of writing, BTC is hovering around $84,000, recording losses of 3.5% and 12% in the fourteen and thirty days time frame respectively.  Featured image from DALL-E, chart from TradingView.com 

Cardano (ADA)’s price continues to move sideways, holding its range for the past 10 days, while online sentiment grows. Some analysts suggest that a retest of the local resistance could be near if the cryptocurrency holds its crucial support zone. Related Reading: Crypto Sleuth Claims Mysterious $20M ‘Hyperliquid Whale’ Is Tied To Illicit Activity Cardano Holds Key Range Cardano has retraced 40% from its two-month high of $1.17, dropping to the $0.7 range over the past few weeks. ADA climbed 80% on March 2 after US President Donald Trump announced a “Crypto Strategic Reserve,” including the cryptocurrency, which sent the token to monthly highs. After its massive pump, the altcoin retraced to $0.9, holding this zone through the following days. However, the March 6 executive order establishing a Strategic Bitcoin Reserve and a “Digital Asset Stockpile” sent ADA below the crucial level. At the time, the White House’s Crypto Czar, David Sacks, clarified that the ADA and the other altcoins named were just used as a reference for the top cryptocurrencies in the market. Since then, Cardano has moved sideways, hovering between $0.68-$0.75. ADA dropped to $0.64 during the March 11 market crash before bouncing. Despite the ongoing price action, online sentiment has been positive towards ADA this week. On Tuesday, on-chain analytics firm Santiment pointed out that Cardano saw a highly positive sentiment on social media. The bullish sentiment was fueled by the Securities and Exchange Commission (SEC) classification of ADA’s use case as “smart contracts for government services.” The news “pushed bullishness to its highest rate in over 4 months,” the firm noted. Moreover, large-scale investors have also shown positive sentiment toward Cardano, with Whales purchasing around 190 million ADA tokens in the past 48 hours. ADA Breakout Or Breakdown Next? ADA has been in a downtrend since December 2024, when it hit its 3-year high of $1.32. The February market retraces sent the cryptocurrency’s price below several crucial support zones, with the token hovering between the $0.60-$0.80 price range. Analyst Sjuul from AltCryptoGems noted ADA has “a weird-looking chart, mainly due to the announcement of the strategic reserve.” As a result, Cardano’s most crucial support level is at $0.66, as it could send it to monthly lows. According to the analyst, “That level should hold; otherwise, all this recent price action will result in a distribution phase.” Previously, Sjuul affirmed Cardano’s chart displayed a Power of 3 in the making, signaling that the cryptocurrency was entering the third phase. This pattern divides the price cycle into three phases: accumulation, manipulation, and distribution. In the last phase, a strong price breakout occurs, with momentum building in the direction opposite to the manipulation. Based on this, if ADA lost the $0.66 mark, the token could see a significant price correction. Meanwhile, a pseudonym trader pointed out that the altcoin shows “a bullish reversal after breaking out of a falling wedge pattern.” Per the post, Cardano could enter a strong uptrend if it maintains its momentum. Related Reading: Bitcoin To Get ‘Interesting’ As Price Retests $85,000 – Here Are The Levels To Watch Nonetheless, ADA must “hold the current support levels and break above the local resistance for confirmation of further bullish continuation” to the $1.22 target. Analyst Ali Martinez noted that ADA trades within a right-angled descending wedge, with the upper trendline at $1.15. He suggested that a daily close above $1.15 would push ADA’s price to the $2 mark, not seen since 2021. Featured Image from Unsplash.com, Chart from TradingView.com

Bitcoin (BTC) has surged nearly 4% in the past 24 hours amid the ongoing volatility. As the price retests the $85,000 resistance, some analysts suggest a jump to $90,000 could be around the corner. Related Reading: SUI Ready For 15% Move Amid Key Level Retest – Breakout Or Breakdown Ahead? Bitcoin Retests $85,000 Barrier On Wednesday, Bitcoin broke above the $85,000 resistance after surging over 5% from yesterday’s lows. The flagship crypto has been unable to reclaim the $85,000-$86,000 zone throughout the last 10 days, struggling to hold the $84,000 support during this period. Nonetheless, BTC climbed over the last 24 hours ahead of Today’s Federal Open Market Committee (FOMC) meeting. As some market watchers pointed out, the expectations of Federal Reserve Chair Jerome Powell’s statement could “make or break” the recent reclaim of key support levels. Analyst CRG explained, “The rate change (or lack thereof) at FOMC is usually not important (unless surprise change) – as it’s baked in. It’s the forward guidance, tonality, etc., that’s important. New info surrounding the end of QT/dot plot revisions important to watch today.” The Federal Reserve announced its interest rate decision, setting the upper bound at 4.50%. As Wu Blockchain reported, the decision was in line with the expected rate and unchanged from the previous one. Meanwhile, “The dot plot indicates an expected 50 basis point rate cut in 2025. Additionally, starting in April, the Fed will slow the pace of balance sheet reduction, lowering the monthly Treasury redemption cap from $25 billion to $5 billion while maintaining the cap for agency debt and MBS at $35 billion.” Daan Crypto Trades noted that BTC’s price could “get quite interesting” with the FOMC volatility. The news could send the flagship crypto to reclaim the key $85,000 barrier or retrace to the range lows. According to the trader, Bitcoin’s liquidation heatmap showed a “few big clusters on both sides” of the weekly range. As a result, the $80,000-$81,000 and $85,000-$86,000 price ranges are two key zones to watch amid the ongoing volatility. BTC Must Hold This Key Zone The Federal Reserve’s report propelled Bitcoin’s price to a 10-day high of $85,880, registering a 3.8% surge in the daily timeframe. Daan warned investors that the current $84,000-$85,000 range is a key level to overcome, as BTC has been “unable to break back above the Daily 200MA/EMA cluster.” Reclaiming this zone could send Bitcoin back to the $90,000 resistance and reclaim its post-election breakout price range. On the contrary, a rejection could see BTC hit new lows, risking a fall to the $73,500 mark. Analyst Rekt Capital noted a decline in seller volume over the last few days, which has allowed buyers “to step in.” According to the analyst, “Buyers need to showcase above-average volume for there to be more conviction in this move.” Related Reading: BNB Ready To Breakout? New ATH Coming ‘In No Time’ If This Resistance Breaks Additionally, he highlighted that Bitcoin’s Daily Relative Strength Index (RSI) has turned into a resistance level as it has been in a downtrend since November 2024. To him, this level is worth watching in the future since “an RSI Downtrend break would likely precede a trend reversal to the upside in price.” As of this writing, Bitcoin trades at $85,132, a 4.9% increase in the past week. Featured Image from Unsplash.com, Chart from TradingView.com

SUI, the Sui Network’s native token, is retesting a key support level after surging near the $2.40 mark. As the cryptocurrency attempts to hold its current range, some analysts suggest that a breakout is imminent for the token’s price. Related Reading: Bitcoin Bull Run ‘Is Over’: CryptoQuant CEO Sounds The Alarm SUI Eyes Key Resistance On Monday, SUI saw its price surge 7% near a key resistance level, fueling bullish sentiment among investors. The cryptocurrency has been one of the leading tokens of the cycle, outperforming most of the market during the 2024 pullbacks. Nonetheless, the cryptocurrency has shredded over 57% of its gains in the past few months, falling from its $5.31 January all-time high (ATH) to the $2.20 range. After losing the $4 support zone, SUI has hovered between the $2.1-$3.5 zone, briefly falling below $2 last Tuesday. Since reaching its 4-month low, SUI has recovered 7.8% in the weekly timeframe, climbing to $2.37 today. According to analyst Ted Pillows, its recent price action has completed an inverse head and shoulder pattern, with the price potentially moving toward the $2.45 breakout level. A sustained surge above this level could send the token to retest the recently lost $2.6 support. To the analyst, “a big breakout is just a matter of time,” as institutions are taking interest in the token. Notably, Canary Capital filed a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC) on March 17, fueling yesterday’s 7% rally. This move follows Canary’s March 6 filing to register a trust for an SUI-based fund in Delaware. On the same day, Sui announced it had partnered with World Liberty Financial (WLFI), the US President Donald Trump’s crypto venture, to include the token in its “Macro Strategy” token reserve. $2.26 Retest: Breakout Or Breakdown? Crypto analyst Ali Martinez suggested that the token is ready for a 15% move. In an X post, he highlighted a one-week ascending triangle pattern forming in SUI’s chart, with the ascending support line currently at the $2.26 mark and $2.40 set as a crucial resistance level. According to the analyst, the 15% move’s direction will be determined by a close above the resistance line, which would send the price to the $2.80 price range, or a close below the support level, which could see the cryptocurrency plunge to $1.90. Since hitting its daily high of $2.37, SUI has retraced to the pattern’s support level, briefly falling to $2.22 before bouncing back above the ascending line. Despite the small recovery, the token has struggled to hold above the crucial level, hovering between $2.23-$2.26 throughout Tuesday morning. Related Reading: BNB Ready To Breakout? New ATH Coming ‘In No Time’ If This Resistance Breaks Meanwhile, market watcher Pushpendra Singh highlighted SUI’s current level as a “strong buying zone.” The $2-$2.3 price range served as a key breakout level during the November post-US election pump. Moreover, its recent retest and bounce from this level suggests a “breakout to the upside could be imminent.” According to the post, the cryptocurrency eyes the $7 target in the mid-term. As of this writing, SUI trades at $2.25, a 5% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

BNB is among today’s market leaders after seeing a 5% surge in the past 24 hours. Amid its recent performance, the token is retesting key levels, leading some market watchers to forecast new highs could be around the corner. Related Reading: 130,000 Ethereum Moved Off Exchanges – Bullish Signal? BNB Retest Key Resistance Levels On Monday, BNB crowned itself as one of the best-performing tokens among the top 100 cryptocurrencies after climbing back to a key level, attempting to break from its downtrend. The token has retraced around 20% since hitting its all-time high (ATH) of $793 on December 5, 2024, losing the $700 support zone amid the Q1 market retraces. Since February, its price has hovered between the $500-$700 range, hitting a 6-month low in February. During last Monday’s correction, the cryptocurrency retested the range lows again, briefly touching $510 before bouncing. Nonetheless, the token has recovered 18% from last week’s bottom, hitting a monthly high. Notably, BNB attempted to reclaim the $600 level over the weekend, failing to hold it until Sunday night. The cryptocurrency surged 7.7% in the following hours, hitting $643 on Monday morning before retracing. Crypto analyst Carl Runefelt pointed out that after reclaiming the $600-$620 horizontal level, the token targets its three-month descending resistance line at around $650. According to Runefelt, the token has “all the chances” to break this downtrend line once it “gains some foothold” above the recently reclaimed horizontal levels Meanwhile, AMCryptoAlex highlighted that BNB broke out of an inverse Head and Shoulders pattern following its performance. Alex also noted that the token surged above the $620 barrier, printing “consistent green candles above the crucial resistance level,” which suggests that it is “primed for more upside.” BNB Chain Surpasses Solana’s DEX Volume Ted Pillows also affirmed that BNB’s chart looks promising, with a “double-bottom pattern along with fundamentals getting better.” The analyst highlighted that the BNB Chain has surpassed Solana’s decentralized exchange (DEX) volume in the past 24 hours, which could fuel the token’s rally to reclaim the $640 level. To him, “Once that happens, BNB will hit a new ATH in no time.” Related Reading: Solana Holds Bullish Pattern – Expert Sets $140 Target According to DeFiLlama data, BNB Chain’s trading volume surged to $1.64 billion on Sunday, surpassing Solana’s $1.07 billion registered on March 16. The network’s DEX trading volume has also increased by 13.27% over the past week, ranking third during this timeframe. The surge seems to be fueled by its recent memecoin frenzy, which has been driven by tokens like Mubarak (MUBARAK). The token has seen a trading volume of around $300 million in the past 24 hours, with its price surging 99% in the past day. Meanwhile, Solana’s network has been experiencing bearish sentiment from crypto investors following the performance of TRUMP and MELANIA, the memecoins of the US President and First Lady, and the crash of the Argentina-backed LIBRA token. At the time of writing, BNB trades at $627, a 4.18% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

After losing a key support level earlier this week, Chainlink (LINK) has surged 24% from the recent lows to lead Friday’s crypto market. Some analysts suggested that a rebound could be around the corner as whales continue to bet on the cryptocurrency. Related Reading: Bitcoin Faces Rejection At $84,000, But Analysts Show 2020 Similarities – Recovery Ahead? Chainlink Recovers Critical Support On Friday, Chainlink surged over 10% to turn the $14 resistance into support again. The cryptocurrency lost this crucial level on Monday following the recent crypto market crash, which saw Bitcoin (BTC) fall to its lowest price in months. During the correction, LINK dropped to a four-month low at $11.71, retesting its post-election breakout levels for the first time since late November. Over the past three days, the token hovered between the $12.5-$13.5 price zone, failing to break above the range’s upper boundary and retest the $14 mark until today. It’s worth noting that this level has been a critical support during LINK’s past rallies, serving as a key breakout and bounce point in the previous cycle, Q1 2024’s high, and the post-US election pump. Moreover, whenever this level has been lost, it has led to long accumulation periods for the cryptocurrency. After today’s surge, LINK has reached a high of $14.71 before retracing to the $14.4-$14.5 price range over the past few hours. Crypto analyst Ali Martinez noted that holding its current level “could set the stage for a rebound to $24.” As Martinez has pointed out, Chainlink has been in an ascending parallel channel since July 2023, moving between the pattern’s upper and lower boundary over the last year and a half.  LINK surged to the channel’s upper trendline every time it retested the lower zone before dropping back, repeating the cycle. Based on this, the recent recovery of the parallel channel’s lower range could send the cryptocurrency to the mid-zone of the pattern before a climb to the upper boundary.  “A Spike in buying pressure at the current levels can help Chainlink rebound to the upper boundary at $45,” the analyst explained. Is LINK Poised For A Reversal? Notably, whales had bought over 3 million LINK in five days, Martinez pointed out on Tuesday, and online reports revealed that an address has continued to purchase Chainlink during the rest of the week. Lookonchain recently reported that a large-scale address has “spent 12.1 million USDC to buy 863,174 LINK at $14,” holding a total of 1.07 million tokens, valued at $15.53 million. Additionally, the address has a long position on LINK, worth $31 million. Analyst AMCrypto Alex pointed out that LINK remained in its long-term uptrend channel despite Tuesday’s low. However, he considers there is a high chance that the token will retest the $10 mark before the bottom formation. Related Reading: Solana (SOL) Retests Crucial Support Level – Is A 50% Price Drop On The Horizon? Meanwhile, trader Crypto Rand suggested that Chainlink is ready to bounce as “LINK marines are getting ready for the bull reversal.” The market watcher pointed out the cryptocurrency has been forming a falling wedge pattern since the start of 2025, and the $14 support recovery is “pushing for the breakout.” A breakout from the pattern’s upper trendline, which is around the $14.5 mark, could propel the token’s price to a 30% surge near the $20 barrier. As of this writing, LINK is trading at $14.51, an 11.6% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Bitcoin (BTC) has failed to reclaim $84,000 resistance again and has fallen 4% to retest another crucial support zone. Some analysts suggested that the cryptocurrency’s rally will be determined by its weekly close, which could see BTC crash or climb to new levels. Related Reading: Solana (SOL) Retests Crucial Support Level – Is A 50% Price Drop On The Horizon? Bitcoin Hits $84,000 Wall Again After losing the $84,000-$86,000 support zone on Sunday, Bitcoin has failed to reclaim this level. The flagship crypto has retraced over 11% in the past week, briefly falling to a 4-month low of $76,600 on Monday. Since then, BTC’s price has hovered between the $80,000-$84,000 range, failing to break above the range’s upper zone for the past four days. Crypto analyst Jelle noted that this resistance level has been a key level throughout the first half of March. Notably, the $84,000 mark served as an important bounce level during the start-of-month price pump and correction, and “reclaiming it will make all the difference for how the rest of the month goes.” Bitcoin has attempted to regain this level in the past 24 hours, climbing to $83,900 on Thursday morning. To the analyst, a reclaim of $84,000 could propel the price back to the post-election breakout range, and things would “get real interesting.” Ali Martinez pointed out that the biggest supply barrier for Bitcoin sits at the $95,000 range, where 1.2 million investors purchased 726,000 BTC. He also noted that the largest cryptocurrency by market capitalization is consolidating within an ascending triangle, which could lead to a 9% surge to the $90,000 mark if it breaks out above $84,000. Nonetheless, BTC failed to reclaim this key resistance and retraced to the $80,000 support zone. Jelle warned that “bulls need to defend the current area, or this could cascade towards the high seventies once more.” Is BTC’s Cycle Top Or Bottom In? Ted Pillows suggested that BTC is poised for another leg up as its price action resembles previous performances. He highlighted that Bitcoin has held its ascending support trendline like in 2017 and 2020, which “shows that the cycle isn’t over yet.” Based on this historical price performance, the analyst considers that the cryptocurrency could retest the $72,000-$74,000 support before a local bottom is in. “After that, there’ll be some consolidation followed by the next leg up,” he explained. Trader Titan of Crypto pointed at a potential reversal as BTC is “showing signs of bottoming on the weekly chart” with the Relative Strength Index (RSI) as support, an Oversold Stochastic RSI bullish crossover, and price at the lower Bollinger Band. He also noted that BTC’s price action resembles 2020’s market structure before a major breakout. Related Reading: Ethereum Risks Another 15% Correction After Fall Below $2,000 – What’s Next For ETH? Meanwhile, analyst Nebraskangooner affirmed that Bitcoin has been “historically predictable,” which suggests that its weekly close range will be key for the next move. According to the post, if BTC closes the week below $67,250, it would potentially indicate the market has already hit the top, as it would become a distribution range. The analyst explained that the cryptocurrency has respected the “distribution, accumulation, and instant reversal” levels in every BTC bear market. If Bitcoin remains “historically predictable,” the cryptocurrency could fall to levels not seen since late 2023 and early 2024. As of this writing, BTC trades at $80,810, a 3.4% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum (ETH) has revisited yearly lows after losing the key $2,000 support, registering its worst performance in years. Some analysts forecasted another 15% drop if the trend continues but suggested that ETH could see a bullish end-of-year. Related Reading: Bitcoin’s Future Comes Down To This One Question, Says Bitwise Ethereum Hits 17-Month Low Ethereum experienced a 15% correction on Monday, falling from $2,150 to $1,810. ETH’s performance followed Bitcoin (BTC) and the rest of the market’s pullback, which saw the flagship crypto drop to $76,000 for the first time since the post-election breakout started. As the retrace continued, the second-largest cryptocurrency by market capitalization dropped to its lowest level since November 2023, touching the $1,750 mark before recovering the $1,900 support. Some market watchers pointed out that Ethereum has been in a three-month downtrend, retracing around 53% since its December peak. Trader Crypto Rand noted that the King of Altcoins has 20 days “to turn green,” or “it will be the first time since 2018 that ETH has experienced 4 x months of red in a row.” That year, ETH spent seven consecutive months recording double-digit losses, losing approximately 80% of its value from May until November. CoinGlass data shows that March tends to be a favorable month for the cryptocurrency, with an average 20% return since 2016. In 2024, the cryptocurrency closed the month with 9.33% gains, following a strong 46% performance in February. However, market sentiment has declined after back-to-back negative performances this year, with a 1.98% and 31.95% decline in January and February, respectively. The cryptocurrency registers a 15.12% loss Month-to-Date (MTD) and could see its worst Q1 close since 2018 at current levels. As a result, Ethereum must close this month above the $2,237 mark to prevent its second-worst historical performance. ETH Drop To $1,600 Coming? Some market watchers highlighted that the cryptocurrency’s current performance reached FTX-crash levels, with sentiment leaning towards a deeper correction. Crypto analyst Ted Pillows noted that Ethereum could see another 15% correction now that the $2,000 support has been lost. According to the post, “there’s a good chance ETH will retest the $1.6K-$1.8K level” as the “manipulation phase is ongoing.” The analyst suggested a potential Power of Three (Po3) pattern on ETH’s chart, which divides the price cycle into three distinctive phases: accumulation, manipulation, and distribution. The accumulation phase consists of a consolidation near the recent high after a strong price performance. In the manipulation phase, a token’s price falls below the accumulation phase’s support level and trades within a range below the lost zone. Meanwhile, the distribution phase sees a strong price breakout to build momentum and drive participants to enter the market. Related Reading: XRP Flirts With A Daily Range Breakdown – Price Must Hold Above $2 Level Ted also stated that ETH’s current performance “feels like it’s trading like the 2016-17 cycle.” At the time, Ethereum consolidated for around a year and dropped below the range’s key support level for a few weeks before surging to new highs.  ETH has been “consolidating for a year now and recently broke below a key support level,” suggesting that the latter half of 2025 could be bullish for the cryptocurrency if history repeats. As of this writing, Ethereum trades at $1,947, a 4.47% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Since January 31, Bitcoin (BTC) has experienced a significant correction, with the leading cryptocurrency plummeting as much as 27.52%. Currently valued around $79,000, Bitcoin’s price is precariously balanced above a crucial support level dubbed as “the magic line,” which is set at $74,000, pivotal in determining the market’s trajectory—bullish or bearish. A Historical Buffer Against Bear Markets In a recent social media post on X (formerly Twitter), market expert Doctor Profit emphasized that “the magic line” placed at $74,000 in his analysis is not just a number but a key indicator of market sentiment.  Related Reading: Charts Reveal Cardano Holds Key Support Zone – Staying Above Could ‘Set The Next Move’ According to the expert, this line has historically acted as a buffer against bear market conditions. For instance, during the 2020 market correction, Bitcoin held above this support level until a bear market was confirmed. Doctor Profit asserts, “A massive correction, even 30-50%, does NOT mean a bear market.”  This market volatility is exacerbated by fears of a recession, driven in part by President Donald Trump’s aggressive tariff policies targeting countries like China, Canada, and Mexico.  These actions have ignited concerns over a potential trade war, further dampening investor sentiment and leading to a retreat from riskier assets, including cryptocurrencies. However, BTC is not alone in this downtrend. Peers such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), have also followed Bitcoin’s lead in this regard, experiencing 10%, 6%,5% and 6% drops respectively in the 24-hour time frame.  Optimal Bitcoin Entry Point Between $52,000 and $60,000? In another recent post on social media platform X, Doctor Profit discussed a possible recession scenario, suggesting that the optimal entry point for investors might be between $52,000 and $60,000.  This forecast implies a troubling potential drop of another 34% from $79,000 towards the worst case scenario for BTC’s price at $52,000 if this occurs, heightening concerns among traders and investors alike. Related Reading: Ethereum Holds Strong For Over A Year: Monthly Close Below This Level Could Be Catastrophic Doctor Profit remains vigilant, monitoring not only Bitcoin’s movements but also the stock market’s influence on crypto prices. He has set his sights on a critical short position with a target profit level (TP1) aligning with the magic line.  “If Bitcoin bounces hard, I’ll re-enter,” the market expert stated. Doctor Profit concluded his analysis saying that “If it shows weakness, I’ll stay in cash and hunt for lower entries between $50,000 and $60,000.” While finding at least a temporary foothold at the $79,460 mark, the largest digital asset, BTC, is down 14% in the past two weeks, reaching its lowest level since November 2024. Featured image from DALL-E, chart from TradingView.com

Binance co-founder Changpeng Zhao has suggested that the highly anticipated Altseason isn’t here yet as most altcoins continue bleeding, while some market watchers consider the worst might be over soon. Related Reading: ‘All Options On The Table’: Bitcoin Must Hold This Level Ahead Of Trump’s Crypto Summit CZ Says There’s No Altseason Yet On Friday, Changpeng Zhao, also known as CZ, responded to an X user asking when the Altseason will happen. The Binance founder pointed out the price tracking and market data website CoinMarketCap (CMC), which recently added an “Altcoin Season Index.” CZ highlighted that “of the top 100 altcoins,” very few have outperformed Bitcoin (BTC) in the past three months, suggesting that the Altseason won’t happen yet. As the website states, the CMC Altcoin Season Index page “provides real-time insights into whether the cryptocurrency market is currently in Altcoin Season,” based on the performance of the top 100 altcoins against the flagship crypto over the past 90 days. Under this metric, an Altseason is in if 75% of the top 100 altcoins outperform BTC during the established period. To CZ, “This is a tough ranking system,” as he considers that 50 would be a good score for Altcoins. The CMC index page shows a score of 14/100, with only 14 altcoins outperforming BTC since early December. Some of the tokens in this list include Monero (XRM), Hyperliquid (HYPE), Pi (PI), Mantra (OM), Berachain (BERA), and the official Trump memecoin (TRUMP). Leading cryptocurrencies of 2024, like SUI and Solana (SOL), show 37% to 41% price decreases in the past 90 days. Meanwhile, memecoin sensations like dogwifhat (WIF), PEPE, FLOKI, and BONK have bled between 70% and 80% during this period. Analyst Michaël van de Poppe also noted that altcoins have had an overall negative performance on higher timeframes despite some recent price rallies. “Massive green day on some Altcoins, they are up 2%! Then, you zoom out, and you zoom out, and you zoom out,” he asserted. Altcoins Bottom Could Be Near Altcoin Sherpa stated that altcoins were in “about the same or worse” positions during the Summer 2024 retrace, pointing out that “things were also pretty bleak overall and then we saw some strong bounces in August.” However, he noted that, unlike last year, the market doesn’t have a “Trump Pump coming.” Recently, some of the top cryptocurrencies saw a significant price increase after US President Donald Trump announced a strategic reserve that would include SOL, XRP, Cardano (ADA), Ethereum (ETH), and BTC. Nonetheless, after the March 6 executive order establishing a Strategic Bitcoin Reserve and a “Digital Asset Stockpile,” the White House AI and Crypto Czar, David Sacks, clarified that the previously named altcoins were used as references for the most valuable tokens in the market. Sherpa considers that the market’s bottom is close, but “we still also probably have the chop period to get through” before any substantial recovery. On the contrary, some industry figures have also commented on altcoins’ overall performance this cycle, suggesting that the Altseason already started but will be different from previous cycles. Related Reading: Stellar (XLM) Price Setting Up For Rally To $1.60 – Here Are The Levels To Watch Recently, CryptoQuant’s founder and CEO, Ki Young Ju, stated that the Altseason had begun. He affirmed there will not be a direct Bitcoin-to-altcoins rotation this cycle, as BTC dominance isn’t the key metric that defines it. To the CEO, trading volume is the metric that defines it this time. Ju also pointed out that this will be a very selective and challenging altseason, with only a few altcoins with strong narratives expected to thrive. Featured Image from Unsplash.com, Chart from TradingView.com

As Bitcoin (BTC) attempts to reclaim the $90,000 mark, some market watchers have warned investors about Friday’s potential market volatility. Various analysts suggest that the flagship’s crypto performance could “go either direction” depending on the White House crypto summit’s outcome. Related Reading: Stellar (XLM) Price Setting Up For Rally To $1.60 – Here Are The Levels To Watch Bitcoin Price To See Volatile Friday Over the past two days, the crypto market has recovered from this week’s lows ahead of the US crypto summit. Last Friday, news that US President Donald Trump would host the first-ever White House crypto summit filled investors and industry participants with bullish expectations. Scheduled for March 7, several high-profile figures will attend the event, including Strategy’s Michael Saylor, Coinbase CEO Brian Armstrong, and Robinhood CEO Vladimir Tenev. Since Tuesday, Bitcoin’s price has surged around 9% from the $81,500 support to surpass the $90,000 barrier, but some market watchers have warned investors about the expected volatility for Friday’s crypto summit. Analyst Altcoin Sherpa noted that Bitcoin “doesn’t have much clarity on higher timeframes” despite retesting its post-November breakout range and holding the 200-day Exponential Moving Average (EMA). Sherpa suggested holding the $89,000 support is key for BTC’s price as the crypto summit’s volatility leaves “all options on the table.” He added that the crypto market will likely “whipsaw in both directions” this Friday. Meanwhile, trader Daan Crypto Trades pointed out that Bitcoin’s current levels are worth watching over the next few days, as it “is still struggling to hold on to the range, but bears have also failed a further breakdown after the initial rejection.” Nonetheless, he considers that the crypto summit is a “very promising sign for the next 4 years,” regardless of the outcome: It’s something we couldn’t have dreamt of the past few years. With the industry being attacked on a regular basis. Let’s hope the focus will be on the right things and that the administration is choosing the right way to do things. BTC Recovery Targets Surge To $140,000 Analyst Crypto Jelle affirmed that “things are developing well, but it all hinges on the crypto event on Friday.” He noted that an underwhelming event could trigger another sell-off, as there aren’t other potential bullish catalysts on the horizon. Jelle also advised investors “Don’t get too excited until we get some more clarity.” However, he highlighted a Potential Power of 3 (PO3) forming on BTC’s chart, targeting $140,000 “once range lows are successfully reclaimed.” This pattern divides the price cycle into three distinctive phases. In the first phase, accumulation, the price consolidates near the recent high following strong price action. The second phase, manipulation, consists of a token’s price falling below the previous phase’s support level and trading within a range below this zone. The third phase, distributions, sees a strong price breakout, building momentum and driving participants to enter the market. Related Reading: Ethereum Price ‘Between Heaven And Hell’: $2,000 Level Retest Key For ETH’s Next Move According to the post, Bitcoin is “pushing for the reclaim” of the post-November breakout’s lower range. Holding through the $90,000-$92,000 zone “would trigger the power of three set up” third phase, which would see BTC’s price expand to new highs. After today’s rejection from the $90,000 range, the analyst signaled that Bitcoin could form a higher low around $87,500 before retesting the range lows again. At the time of writing, BTC trades at $88,372, a 1.3% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Stellar (XLM) is attempting to reclaim a recently lost level that could propel the price to a retest of a key resistance zone. Some market watchers suggested that its price could be preparing for a massive surge to a new all-time high (ATH). Related Reading: Cardano 125% Pump Coming? Analyst Says ADA ‘Could Be Poised’ For Rally To $2.20 Stellar Getting Ready For 300% Breakout Stellar has seen a 9% surge in the past day, recovering from this week’s market dump and rallying to the $0.30 mark again. According to crypto analyst Ali Martinez, Stellar could witness a 300% breakout soon as the cryptocurrency appears to be forming a bullish pattern. After the November 2024 breakout, XLM started to form a bullish flag, with the 600% post-US election rally forming the pattern’s flagpole. Since then, Stellar has been consolidating between the $0.63 and $0.25 price range, forming the pattern’s flag. Since hitting its 3-year high in December, XLM has seen a 52% price decrease, failing to break above its downtrend line. During the February market retraces, the cryptocurrency retraced nearly 40% from its monthly opening, hitting its lowest price action since November. Over the weekend, Stellar followed the rest of the crypto market, fueled by US President Donald Trump’s announcement of a US Crypto Strategic Reserve comprised of “made in the USA” cryptocurrencies like XRP, Cardano (ADA), and Solana (SOL). XLM surged around 25% from the range’s lower levels to $0.37, retesting the $0.35 key resistance. The $0.32-$0-35 range has been a key zone for the cryptocurrency since the Q4 2024 breakout, serving as a crucial support level until turning into resistance in February. As the analyst pointed out, “A sustained break above the $0.42 resistance could trigger a bull run to $1.60.” Nonetheless, the cryptocurrency’s recent performance has failed to reclaim a key level in the mid-zone of its 3-month price range. XLM Following 2017’s Playbook? XLM failed to hold the $0.35 level amid the Monday market dump, retracing 20% and erasing the Sunday gains. Breaking above this resistance could send Stellar’s price to the bull flag’s upper range while failing to reclaim it could send the price to the pattern’s lower range between $0.20 and $0.23. On Tuesday, the cryptocurrency continued bleeding and retested its recent lows as support. XLM bounced from $0.27 above the $0.30 level on Wednesday morning, attempting to reclaim it. Technical Analyst Charting Guy highlighted that XLM’s Relative Strength Index (RSI) recently broke out of a 96-day downtrend “while price consolidated in the golden pocket with time capitulation getting to people.” Related Reading: Ethereum Price ‘Between Heaven And Hell’: $2,000 Level Retest Key For ETH’s Next Move He also noted that XLM’s bull flag “coincidentally targets” the 1.272 Fibonacci level at around $2.46. After its recent performance, the cryptocurrency appears to be following its 2017 pattern, which adds “more confluence to 1.272 fib target,” he explained. In Q4 2017, Stellar saw a similar price breakout, followed by a consolidation period within a bullish flag. XLM then broke out of this pattern and rose over 190% to ATH in early 2018. To the analyst, “Once we break above the top of the golden pocket, it’s game on.” At the time of writing, Stellar trades at $0.30, a 2.4% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

On Tuesday, Ethereum (ETH) retested the $2,000 support zone, falling below this level for the first time in over a year. Some analysts suggested the second-largest crypto risks a 40% correction as its price attempts to hold its support level “between heaven and hell.” Related Reading: Cardano 125% Pump Coming? Analyst Says ADA ‘Could Be Poised’ For Rally To $2.20 Monday Dump Sends Ethereum To 15-Month Low Ethereum has fallen to a yearly low of $1,993, according to Binance market data. The cryptocurrency has dropped below $2,000 for the first time in 15 months, hitting its lowest price since late November 2023. Amid the February market retraces, ETH failed to hold the $3,000 level, hovering between the $2,500 and $2,8’00 price range for most of the month, despite the February 3 market crash to $2,100. However, the end-of-month correction saw Ethereum bleed 17% to a new low of $2,076. Per Coinglass Data, the King of Altcoins closed last month with a 31.95% decline, registering its first February Close with red numbers since 2018. ETH recovered 17% on Sunday, attempting to reclaim the $2,500 resistance level after US President Donald Trump announced the establishment of a “Crypto Strategic Reserve,” which will have Bitcoin and Ethereum “at the heart” of it. On Monday, ETH fell below the $2,000 mark during the market’s dump and risks dropping another 40%. Ali Martinez highlighted that Ethereum could fall as low as $1,250 if it doesn’t reclaim some key levels. The analyst noted that Ethereum has been consolidating in a parallel channel since 2024, bouncing from the channel’s upper boundary to the middle or lower boundary before bouncing back to the upper zone. Nonetheless, ETH broke below the channel’s lower boundary after dipping below $2,200 last week. If the cryptocurrency doesn’t reclaim the channel’s lower boundary, its price could retrace to the $1,600 or even $1,250 support zones. Martinez noted that Ethereum’s most critical resistance barrier is at the $2,400 mark, where over 2.41 million investors bought 62,68 million ETH. To the analyst, a breakout above this level could “clear the path for a rally toward $3,000.” ETH Following Bear Market Years’ Playbook? As Ethereum retested the barrier “between heaven and hell,” some market watchers pointed out that ETH’s recent performance resembles its 2018 and 2022 price action. According to the pseudonym trader 5.0 Inverted, the king of altcoins is “following 2018 and 2022 bear market price action.” The chart shows that ETH steadily declined throughout those years, retracing 82,71% and 68.29% in 2018 and 2022, respectively. Related Reading: Polkadot Price Crisis: Further Losses Incoming After DOT Falls Under $4.8 The cryptocurrency saw small price rallies in the first six months of both years but continued the downtrend. ETH has declined 36.4% year-to-date (YTD), showing a similar performance to the mentioned years. Another trader suggested that Ethereum dropped 60% from $4,200 to $1,800 last cycle before pumping 170% to its $4,800 all-time high (ATH) in the coming months. Based on 2021’s playbook, the cryptocurrency might continue its negative performance before recovering at the end of the year. At the time of writing, ETH has recovered nearly 7% from its drop below $2,000 and trades at $2,135. Featured Image from Unsplash.com, Chart from TradingView.com

On Sunday, Cardano (ADA) saw a massive 80% pump following the US President’s announcement of a “Crypto Strategic Reserve” that will include ADA. As the cryptocurrency retests its key support levels, some analysts believe it might be poised for a 125% rally from current levels. Related Reading: Dogecoin Breaks Above Falling Wedge Pattern – Analyst Sets $0.43 Target Cardano Attempts Reclaiming $1 On March 2, US President Donald Trump announced the establishment of a “US Crypto Reserve” comprised of Cardano, XRP, and Solana (SOL), with Bitcoin (BTC) and Ethereum (ETH) at the heart of the strategic reserve. On his social media platform, Truth Social, Trump stated the strategic reserve would “elevate the critical industry after years of corrupt attacks by the Biden Administration.” The announcement sent many cryptocurrencies into an end-of-week pump to reclaim some recently lost support levels. ADA has been in a downtrend since December when it hit its 3-year high of $1.32 but failed to hold the $1 support in mid-January. The February market retraces sent the cryptocurrency’s price below several key support zones, with the token hovering between the $0.60-$0.80 price range. Following Trump’s announcement, Cardano rose 60% in two hours, climbing from $0.64 to the $1 barrier for the first time in over a month. ADA continued its surge in the following hours, recovering over 80% from its Friday low of $0.58. On Sunday, ADA hit a two-month high of $1.17 before retracing over 20% to the key $0.90 support zone. Cardano investor Sebastian noted that the retest of the $0.92 level was “perfectly normal after such an insane move.” The investor suggested it could consolidate within the $0.90-$1.00 range for a few days before resuming its ascending trajectory. Moreover, he asserted that If ADA breaks above its December high, the token could likely see a new all-time high (ATH) soon. ADA’s New High Could Be Near Crypto analyst Ali Martinez stated that Cardano “could be poised for a rally to $2.20.” According to the post, investors should “watch for a 12-hour candlestick close above $1.19” to confirm the bullish breakout and target an 84% jump from the breakout level. Martinez also highlighted that Cardano whales bought over 420 million ADA in the past 24 hours, which could signal strong sentiment from large-scale investors on the cryptocurrency. Meanwhile, Sjuul from AltCryptoGems affirmed that Cardano’s chart displays a “big power of 3 in the making.” This pattern divides the price cycle into three phases: accumulation, manipulation, and distribution. Related Reading: Bitcoin Reclaims Key Levels And Faces Resistance At $97K – Can It Break $100K This Week? The first phase consists of a consolidation near the recent high after a strong price performance. The second phase sees a token’s price falling below the accumulation phase’s support level and trades within a range below the recently lost zone. In the third phase, a strong price breakout occurs, with momentum building and participants entering the market. According to Sjuul, “the chart never lies,” and Cardano entered the distribution phase after Sunday’s pump, suggesting that ADA could retest December highs soon. As of this writing, ADA trades at $0.91, a 9.9% retrace in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

This week’s market correction has seen Bitcoin (BTC), the largest cryptocurrency by market capitalization, retest some of its key support levels. As the price starts to recover from the recent lows, some analysts consider the weekend might bring some bullish relief for investors. Related Reading: Ethereum Drop Coming? ETH Risks Fall To $2,180 If This Support Fails – Analyst Bitcoin Recovers From $78,000 Drop Bitcoin has experienced significant selling pressure over the last week, fueling doubts about a potential market top. The flagship crypto has dropped 21% from last week’s high of $99,000, dipping below the $80,000 level for the first time since November. The correction also saw BTC drop nearly 30% from its January all-time high (ATH) and trade below its post-US election price range. A week after the market bleeding started, Bitcoin hit a new three-month low, retesting the $78,000 support on Friday morning. Various market watchers noted that BTC’s most recent decline reached and partially filled its November 2024 CME Gap between $78,000 and $80,700. Rekt Capital pointed out that Bitcoin is experiencing a “strong rebound against the partially filled CME Gap and is doing so on above-average seller volume.” The flagship crypto has surged around 7% from today’s lows, hovering between the $83,000 and $84,000 support zone for the past few hours. To the analyst, the CME Gap support and sell-side volume will be two key indicators to pay attention to over the weekend as constant, uninterrupted BTC sell-side pressure is unsustainable, and seller exhaustion potentially accelerates in the next few days. Bitcoin is finally starting to experience above-average seller volume. There’s still scope for more seller volume to come in, but the chances of Seller Exhaustion occurring are increasing. And Seller Exhaustion tends to precede price reversals. Is A Weekend Rebound Coming? Crypto analyst Jelle highlighted that Bitcoin has done “three drives in deeply oversold territory” this week and is retesting the local lows before today’s drop, which suggests that a “weekend relief seems likely.” The analyst stated that reclaiming the $84,500 support is key for BTC’s recovery as “the past two retests ended up resulting in new lows.” Nonetheless, he noted that today’s rebound seems different due to BTC “touching the 200-ema cluster” for the first time this week and breaking above it. To Jelle, this could signal an “interesting weekend,” with the new CME Gap at $93,000 open. Rekt Capital pointed out that Bitcoin “has filled every CME Gap that has formed since mid-March 2024” and that only the newly formed CME Gap between $92,800 and $94,000 remains open after this retrace. If BTC continues this pattern, the price could see a rebound to fill the new gap soon. Related Reading: Memecoin Scam Alert: Pump.Fun X Account Hacked, Promotes Fake PUMP Token The analyst has outlined two potential scenarios for BTC’s current “downside deviation.” According to the post, Bitcoin’s price could revisit $93,500 by the end of the week if the deviation “is to end up as a downside wick.” Meanwhile, if the deviation is “to end up as the Post-Halving deviation featuring Weekly Candle Closes below the Re-Accumulation range,” BTC’s price could revisit the $93,500 level in the next two to three weeks as “part of a post-breakdown relief rally.” As of this writing, Bitcoin trades at $85,120, a 0.5% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Amid the market retrace, Ethereum (ETH) has lost its key $2,600 support zone and fallen below the next crucial level. As the second-largest cryptocurrency by market capitalization attempts to hold its current range, some analysts predict a 6% drop could be coming. Related Reading: Solana Sentiment Hits 1-Year Low Amid Market Correction – Analyst Suggests Drop To $70 Ethereum Risks Fall To $2,180 Following the $1.5 billion hack of crypto exchange Bybit, the crypto industry experienced a market correction that sent most cryptocurrencies below their key support levels. Bitcoin’s price fell below the $90,000 mark for the first time since November. Meanwhile, Solana, one of the leading Altcoins of the cycle, dropped 30% in five days, hitting a five-month low. Nonetheless, Ethereum’s price held relatively well compared to most cryptocurrencies despite accounting for $1.2 billion of the assets stolen in the hack. The “King of Altcoins” initially dropped 10%, staying around its pre-Bybit hack levels over the weekend, but failed to sustain the $2,600 support after the market crash resumed on Monday. Crypto analyst Ali Martinez had previously warned that this level was key for cryptocurrency’s bullish trend continuation, and failing to hold this support zone would send the price to the $2,4000 mark. After the drop, the analyst stated that the $2,425 level was Ethereum’s next most critical support zone, as 10.33 million wallets accumulated 63.43 million ETH. However, the cryptocurrency failed to hold this level on Wednesday, dropping to $2,300 in the past 24 hours. Martinez warned that Ethereum needs to hold the $2,345 support level now, where 2 million investors bought 58.88 million ETH. If it falls below this level, the millions of investors will be in the red numbers. Analyst Carl Runefelt also cautioned about ETH’s current levels, suggesting that Ethereum risked dropping another 6%. The analyst advised investors to monitor the bearish flag forming in Ethereum’s hourly chart for the past day, as it could send ETH’s price near the $2,000 support line. If the cryptocurrency fails to hold the $2,320-$2,330 level, Ethereum’s price targets a breakdown to $2,180. Short-Term Rally Or Sideways Move Coming? Crypto analyst Ted Pillows highlighted ETH’s bullish divergence in the 3-hour chart, suggesting that “a short-term rally towards $2,600-$2,700 looks possible.” However, he noted that the potential rebound could be a “dead at bounce.” Meanwhile, Altcoin Sherpa indicated that the cryptocurrency could move sideways for the next few months, pointing to ETH’s performance after losing the $2,900 support in August 2024. Ethereum moved within the $2,100-$2,800 price range from August to November 2024, with the second-largest crypto’s current price action starting to resemble last summer’s performance. Related Reading: Memecoin Scam Alert: Pump.Fun X Account Hacked, Promotes Fake PUMP Token Another market watcher also suggested that the King of Altcoins needs an extended re-accumulation period to attempt to reclaim the higher levels, as seen during the FTX collapse, 2023’s capitulation, and Summer 2024’s capitulation. Based on this, ETH could move within its current range for the next two to three months. Lastly, analyst Titan of Crypto pointed out a Wyckoff Check accumulation pattern in ETH’s weekly chart. He stated that Ethereum appears to retest its key level after a breakout to confirm the trend continuation. Per the post, if the $2,140 level holds, there’s a “potential spring and rally continuation.” As of this writing, Ethereum trades at $2,324, a 15% drop in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

On Wednesday, Bitcoin (BTC) prices plummeted to a four-month low, reaching as low as $81,000, as the anticipated “Trump bump” in the markets faded. This has prompted investors and traders to hedge against further decreases, with Bitcoin options indicating a notable interest in put options with a strike price of $70,000.  Bitcoin Plummets 20% Since Trump’s Inauguration According to data from Deribit, the largest crypto options exchange, this strike price represents the second-highest open interest among all contracts set to expire on February 28, with a total of $4.9 billion in open interest poised to expire by Friday. Related Reading: Solana (SOL) Sees Red—What’s Next for the Price? Since President Donald Trump’s inauguration in January, Bitcoin has experienced a substantial decline of roughly 20% from its record highs.  Market analysts attribute this downturn to a combination of factors, including Trump’s “aggressive geopolitical” stance and ongoing concerns about elevated inflation. Chris Newhouse, director of research at Cumberland Labs, noted, “Tariff policies are further dampening the outlook, and stubbornly high short-term inflation expectations add to the overall caution.”  Newhouse also highlighted that the Bybit Ethereum (ETH) hack has not only exerted downward pressure on Bitcoin’s price but has also negatively impacted overall market sentiment. Investors Pull Back Amid Declining Demand For ETFs The market has also witnessed a significant liquidation of bullish bets, with around $2 billion wiped out over the past three days, according to data from Coinglass.  Bitcoin perpetual futures—a popular method for offshore investors to leverage their positions—saw a sharp decline in long positions during this timeframe. Adding to the bearish sentiment, demand for Bitcoin exchange-traded funds (ETFs) has waned, with the group experiencing approximately $2.1 billion in outflows over the past six days.  This reflects a broader trend of investors pulling back, with more than $1 billion withdrawn from spot Bitcoin ETFs on Tuesday alone, marking the largest outflow since these funds debuted in January of the previous year. The Fidelity Bitcoin Fund (FBTC) and BlackRock iShares Bitcoin Trust ETF (IBIT) were among the hardest hit. Related Reading: Avalanche (AVAX) Overextended—Is A Market Shakeup Imminent? Bohan Jiang, head of over-the-counter options trading at Abra, commented, “This is a mix of spot selling and basis unwind. In my view, nearly all of this is from ETF spot outflows from directional traders.” Ethereum has also felt the impact of the Bybit incident, amplifying its volatility, while Solana (SOL) has surrendered gains achieved in recent months amid declining interest in memecoins. The market’s search for a new catalyst to reverse its bearish sentiment has led many investors to remain on the sidelines, rotating out of cryptocurrencies in a risk-off environment.  Ravi Doshi, co-head of markets at crypto prime broker FalconX, stated, “The crypto market is still in search of a new catalyst to reverse bearish sentiment.” Currently, BTC is attempting to find support at $84,578, but has fallen another 4.5% in the 24-hour time frame.  Featured image from DALL-E, chart from TradingView.com 

The crypto market is experiencing a significant upheaval, with a staggering $300 billion erased in just 24 hours. This massive sell-off has raised concerns among investors, prompting analysts to explore the underlying causes of this dramatic decline. Bitcoin And Ethereum Plummet According to insights from the Kobelsi Letter, a global commentator on capital markets, the frequency of “flash crashes” in the crypto sector has surged since January. These rapid price declines can occur without major bearish news, leaving investors puzzled about the sudden volatility. The recent downturn began with Bitcoin (BTC), which initially fell below $95,000. However, a sharp drop from $95,000 to $90,000 within just 30 minutes early in the morning served as a wake-up call for traders.  Ethereum (ETH) has fared even worse, experiencing a staggering 37% drop over 60 hours on February 2nd, despite trade war headlines that had already been priced into the market. Related Reading: Why Ethereum Is A Must-Watch: Expert Analysis Highlights 4 Strong Bullish Indicators One of the critical factors contributing to this crypto volatility, according to the analysts, is the drastic shift in liquidity and short positioning in Ethereum. In a single week, short positions surged by 40%, and since November 2024, they have skyrocketed by 500%.  This unprecedented level of shorting by Wall Street hedge funds has created a precarious situation for Ethereum, which is now valued at approximately $300 billion. As institutional investors increasingly short Ethereum, many have turned their attention to Bitcoin, creating a stark contrast in market dynamics. While retail interest in Bitcoin has waned, driven partly by a surge in memecoins, institutional capital continues to flow into Bitcoin, exacerbating the volatility in altcoins like Solana. Retail Vs Institutional Investors Amid Crypto Volatility Kobelsi further highlights that the current market environment is characterized by a polarization between retail and institutional investors. As liquidity decreases, price movements become increasingly erratic. This has resulted in significant “air pockets,” where sentiment can shift dramatically, leading to rapid price changes. Recent sentiment analysis reveals that the crypto market is experiencing its lowest levels of enthusiasm for 2024. The Crypto Fear and Greed Index, which previously indicated a state of greed, has now dropped to a fear level of 29%. Such shifts in sentiment often precede flash crashes, as traders react to the changing landscape. Related Reading: XRP Price Continuation After Crash Below $2.4? New Targets Emerge Adding to the complexity of the situation, public figures like Eric Trump have been vocal about their views on the largest crypto assets, Bitcoin and Ethereum. Trump has suggested that these price dips present buying opportunities, a perspective that may influence retail investors’ behavior. Furthermore, companies like MicroStrategy have also impacted the crypto market dynamics. Despite a 45% drop in its stock since its November 20th peak, MicroStrategy continues to accumulate Bitcoin through convertible note offerings, reinforcing its commitment to the crypto and potentially influencing market sentiment. So far, Ethereum has managed to regain the $2,500 level after falling below $2,300 on Tuesday, recording losses of 7% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com 

As the broader cryptocurrency market grapples with significant downturns, Ethereum (ETH) and Solana (SOL) have emerged as some of the hardest-hit assets among the top ten digital currencies.  On top of that, recent allegations by market experts on social media suggest potential market manipulation by major players in the space, raising further concerns for investors. Ethereum Falls Below $2,600: Potential End To Altseason Over the past few days, on-chain data has surfaced, indicating large-scale selling of Ethereum and Solana tokens primarily by Binance (BNB), the world’s largest cryptocurrency exchange.  Market expert Crypto Rover highlighted that these sales, which occurred over a span of just 48 hours, have contributed to a staggering 7% drop in Ethereum and a 12% decline in Solana’s value. Related Reading: Bitcoin Crashes: Experts Warn Of 6-Month Slump To $73,000 Ethereum has now breached its critical support level of $2,600, a point that analysts like Ali Martinez caution could signal the end of the altcoin season if confirmed on higher time frames.  Martinez notes that the next significant threshold for the Ethereum holders is set at $2,300; falling below this level could jeopardize the psychologically crucial $2,000 mark. For Solana, the situation is similarly dire. The asset has retraced below its major support level at $150, settling around $140. This decline represents a considerable 51% gap from its all-time high of $293 reached in January. The bearish sentiment surrounding Solana is further underscored by a stark drop in network activity. Martinez pointed out that Solana’s active addresses have plummeted by 60%, falling from an impressive all-time high of 18.5 million in October to just 7.3 million. Market Manipulation Allegations Arise Amidst these troubling developments, voices within the crypto community are suggesting that the market turbulence may not be coincidental.  Experts like Marty Party have expressed concerns about the role of Binance, asserting that the exchange may have offloaded its holdings in Solana and Ethereum to cover fines imposed by the Department of Justice (DOJ) while also profiting from liquidating leveraged futures positions. Such actions have been characterized as “manipulative,” with Marty noting the timing of these sales. Doctor Profit, another market expert, also suggests that platforms like Bybit may have engaged in similar practices to recover “lost Ethereum” after its recent hack, fueling further speculation about the integrity of these exchanges. Critics argue that these “market maneuvers” are indicative of a broader pattern of manipulation, particularly aimed at triggering mass liquidations among long positions.  Related Reading: Ethereum Price Crash To $2,000 Could Happen As Smaller Timeframes Turn Bearish Doctor Profit remarked on the apparent transparency of these manipulations, suggesting that market players are exploiting the naivety of average crypto investors. Given the current climate, there is a growing call within the crypto community to shift away from centralized exchanges and traditional financial structures.  Advocates like Doctor Profit are urging investors to embrace decentralized finance (DeFi) and monolithic networks, emphasizing the importance of self-custody and minimizing reliance on institutions that may be susceptible to manipulation. For now, Ethereum has managed to stabilize at $2,390, which is nearly 50% below the record high of $4,878 reached during the 2021 bull market. Featured image from DALL-E, chart from TradingView.com