Amid the latest market recovery, Ethereum (ETH) attempted to break out from its multi-month downtrend, leading some market watchers to suggest that a new rally could start soon. However, as price struggles to hold the $1,600 level as support, the cryptocurrency risks losing recent momentum. Related Reading: Ethereum Enters Historic Buy Zone As Price Dips Below Key Level – Insights Ethereum Breakout Eyes Key Resistance On Easter Sunday, the crypto market saw a positive end-of-week after jumping 4.2%. Bitcoin (BTC) closed the week above the $85,000 barrier for the first time this month, while Ethereum surged 5.4% to attempt to reclaim the $1,600 resistance for the third time in the past seven days. ETH closed the week around the $1,640 mark before climbing to $1,658 during Monday’s early hours. Amid this performance, the cryptocurrency attempted to break out of its multi-month downtrend for the first time. Crypto analyst Ted Pillows highlighted that Ethereum broke out of its descending resistance on Monday morning. According to the post, the cryptocurrency has been in a downtrend in the one-day chart since early February, retesting the trendline thrice over the past few months, but always being rejected. Its latest rejection from the descending resistance sent the cryptocurrency below the $1,700 mark, which fueled the bearish sentiment brewing toward ETH. The start-of-April retraces, driven by the ongoing tariff war between the US and China, further sent Ethereum to lower levels, hitting its two-year low below $1,400 and retesting the 2018 highs. The analyst noted that ETH could rally toward $2,000 during April’s last leg if the cryptocurrency holds the $1,600 support, which it hasn’t been able to do for most of the month. Is The ETH Bottom Close? Analyst Carl Runefelt also highlighted ETH’s downtrend breakout, affirming that it “might go absolutely parabolic starting from here.” According to Runefelt, the resistance breakout eyes the $3,000 mark, which was lost during the February retraces. However, Ethereum has lost its short-term momentum, retracing its 24-hour gains in the past few hours. Its price dropped below the $1,600 mark into the key $1,500 support level, trading around the $1,570-$1,580 price range. This retracement could hint that ETH’s recovery failed to gain strength, risking a drop to the current level’s lows. However, a bounce from this zone to hold the $1,650 mark could confirm the breakout and propel the cryptocurrency’s price toward $1,700-$1,800 resistance. Analyst Ali Martinez considers that ETH’s new rally won’t start again until it breaks through the $2,330 supply wall, where over 12.6 million addresses purchased around 68-63 million ETH. Related Reading: XRP Wyckoff Pattern Maps Bullish Run To $3.70 This Summer Meanwhile, another market watcher suggested that Ethereum’s trading pair against Bitcoin is “the only chart to look at right now.” Crypto Fella affirmed that the bottom of the ETH/BTC chart is close, as it has reached its lowest level since 2020. Per the chart, the last time ETH/BTC dropped below the 0.022 mark, it hovered between the 0.016-0.022 zone for some months before bouncing toward its late-2021 high. As of this writing, Ethereum trades at $1,571, a 1% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Amid the market volatility, Bitcoin (BTC) has been unable to reclaim the $85,000-$86,000 zone despite its weekly performance. However, some analysts suggest that a breakout from the key resistance level might be around the corner. Related Reading: On-Chain Experiment Or Rug Pull? Base Faces Backlash After Unofficial Memecoin Crashes 90% Bitcoin To Resume Its Bullish Rally? Over the past week, Bitcoin has traded between the $83,000-$86,000 price range, recovering from the sub-$80,000 correction at the start of the month. Notably, the flagship crypto experienced significant volatility last week due to the ongoing trade tariff war between the US and dozens of countries. BTC’s recent recovery began after the US President Donald Trump paused the tariff on over 75 countries for 90 days, which sent BTC’s price back above the $80,000 mark. Amid the volatility, Bitcoin retested the key $78,500 as support and its four-month downtrend resistance, compressing between these two levels. According to market watcher Daan Crypto Trades, Bitcoin has been moving within a significant area, as it was retesting its downtrend line as well as the Daily 200 Exponential Moving Average (EMA) and Moving Average (MA), which “has been a tough price region to crack in recent weeks.” Amid Thursday’s pump, BTC is finally breaking out of its downtrend, which could lead to a surge toward the “ultimate level to break for the bulls,” the $90,000-$91,000 barrier, as he suggested that the sideways move in the mid-$80,000 region won’t continue for much longer. Nonetheless, the trader considers that the coming days might not have significant swings due to the Easter weekend, with low volumes and liquidity expected. “Likely going to be quite boring absent any major new headlines,” he asserted, adding that “we’ll see where this wants to go next week.” BTC’s Key Levels To Reclaim Analyst Sjuul from AltCryptoGems pointed out that Bitcoin is trapped below the 50-day EMA, which is “what separated us from a bull run resumption.” He explained that the cryptocurrency has been moving between $78,000-$95,000 since March, with the 50 EMA coinciding with the price range’s mid-zone and seemingly acting as resistance for the past week. Breaking out of the mid-range, between $85,000-$86,000 levels, could send BTC’s price above the $90,000 mark and toward the range’s high. Related Reading: Aptos (APT) To Continue Moving In ‘No Man’s Land’ – Can It Reclaim $5? According to the post, Bitcoin’s current price action resembles May 2021’s performance, before the bull run resumed. At the time, BTC reclaimed the 50 EMA on the daily chart, which “right now, just as back then, (…) has been the line in the sand between the bull and bear markets.” The analyst explained that strong spot buying pressure is necessary to break this resistance and resume BTC’s rally. “Should we finally have this spot buying pressure, and should we finally see the EMA 50 Daily being flipped, all you want next is for that liquidity wall at $87K to be properly broken,” he concluded. As of this writing, Bitcoin trades at $84,521, a 1.2% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
After falling from its Macro Range, Aptos (APT) has faced rejection from key levels. Amid its 15% monthly decline, some analysts suggest that APT’s party won’t continue until the $5 resistance is reclaimed. Related Reading: Is The Storm Over For Ethereum? Analyst Says ‘Face-Melting’ Rally Comes Next Aptos Trades In ‘No Man’s Land’ Over the past two weeks, Aptos has seen its price drop to its lowest levels in two years, falling below the $4 mark for the first time. The cryptocurrency has been trading within the $5.45-$17 price range since 2023, maintaining the Macro Range lows until the March corrections. Notably, APT had tested this key level twice before, but closed below its Macro Range for the first time last month. Analyst Rekt Capital noted that the cryptocurrency has historically developed bases around these levels “in the form of downside wicks for three-month periods,” seemingly forming one for the third time with its current downtrend. Amid the early April recovery, the analyst noted that Aptos was forming a lower timeframe bullish divergence as its Relative Strength Index (RSI) was forming Higher Lows despite the downside deviation. Nonetheless, he warned about “the dangers of a higher timeframe bearish retest for APT.” Since then, Aptos has “followed through on that bearish retest and rejected from the previous Macro Range Low, treating it as resistance.” After the rejection, APT’s price retraced 26% to the $3.9 support, where it “found some liquidity” and bounced to the $4.2-$4.5 range. “However, still, the confirmation for a trend reversal isn’t there just yet,” he explained, adding that Aptos must reclaim the Macro Range Lows or it would risk further bleeding. APT needs to reclaim the $5.44 Range Low level as support to confirm that it is ready to resynchronise with its prior range and try to position itself to challenge for higher prices. Without that confirmation, the risk is a little bit too steep because APT is in the middle of no man’s land. Until then, “it will be important to watch out for signs of mounting strength in the meantime,” the analyst added. APT Party Halted? Similarly, analyst Sjuul from AltCryptoGems considers that there will be “no party on APT” until it reclaims the $5 resistance, which it has been unable to recover for the past two weeks. “As long as we stay below the $5 level, unfortunately, it’s just a bearish retest,” he asserted. Meanwhile, another market watcher pointed out that APT has been moving within a falling wedge pattern for the past five months, with a breakout “imminent.” However, the analyst affirmed that this week’s performance could determine whether the pattern will break out, as it needs to reclaim the $5 resistance and surge above $5.4. Related Reading: On The Brink: Ethereum Challenges Descending Channel, Targets $3,000 Price Rekt Capital noted that Aptos has revisited the 35 Relative Strength Index (RSI) during its recent performance, “which has historically been a key region in facilitating basing periods from which price would reverse to the upside over time.” With APT at this level, the RSI would need to break its multi-week RSI Downtrend to “confirm a sign of emerging strength in price, building out a bottoming-out area here. Until then, it is a waiting game for the most part.” As of this writing, APT trades at $4.5, a 1% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum (ETH) continues to hold a crucial support level after recovering from last week’s correction. Its recent bounce from historical demand zones has led some analysts to suggest that the altcoin is gearing up for a breakout. Related Reading: Forget XRP At $3, Analyst Reveals How High Price Will Be In A Few Months Ethereum Holds Key Support Ethereum has reclaimed the key $1,600 level after dropping below the $1,400 support for the first time since 2023. The second-largest cryptocurrency by market capitalization recently fell to a two-year low during last week’s correction, fueled by US President Donald Trump’s trade tariff war. ETH touched $1,385 last Wednesday, retesting the 2018 all-time high (ATH) levels before recovering. Amid Trump’s 90-day tariff pause announcement, Ethereum jumped over 10% from $1,480 to $1,600, briefly nearing the $1,700 resistance. However, its price retraced to the $1,400-$1,500 support zone on Thursday amid the market’s volatility. Over the weekend, the King of Altcoins recovered, hovering between the $1,580-$1,680 price range for the past four days. Ethereum has reclaimed the $1,600 support in the past 24 hours, fueling a bullish sentiment among some market watchers. Analyst Ted Pillows noted that ETH might be getting closer to a breakout from its short-term downtrend line. According to him, investors could expect the cryptocurrency to hold the $1,550-$1,600 level now that global markets are gaining some strength. He considers holding this range could propel Ethereum’s price toward the one-month downtrend line. A breakout and confirmation of this resistance, at around $1,670, could set the base for a 20% jump toward the $2,000 resistance level. Is ETH Out Of The Woods? Merlijn The Trader suggested that ETH is gearing up for a breakout. The market watcher pointed out the cryptocurrency’s two-month descending channel, which could be “history” if volume surges. The analyst considers that as Ethereum nears the channel’s upper boundary, “all we need now is volume” for a surge above the $1,690 mark, adding that a breakout from this level would target $2,700. He also underscored that ETH’s double top formation was completed after “smashing” the $1,432 target, signaling that it “survived the storm.” Notably, the cryptocurrency confirmed this pattern, which developed within its $2,196-$3,904 Macro Range, following its March close below the $2,100 support. After recovering from the recent lows, “Now comes the face-melting rally no one expects. $4,000 is only the beginning.” Meanwhile, Rekt Capital highlighted that Ethereum’s Dominance has almost equaled old All-Time Lows. He explained that since June 2023, ETH’s Dominance has dropped from 20% to 8%, historically a reverse area for the cryptocurrency. Related Reading: Ethereum Rally May Unleash Massive Gains For 3 Altcoins “Generally, Ethereum Dominance needs to hold this green area for a chance at reversal Increasing ETH Dominance would be highly beneficial for Altcoin valuations over time,” he noted Monday. When the ETH Dominance hit the $7.5%-8.25% range, it reversed “to become more market-dominant,” which could signal a reversal for the King of Altcoins. As of this writing, ETH trades at $1,609, a 1% decrease in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
As Bitcoin (BTC) recovers from its five-month low, the cryptocurrency attempts to reclaim the $84,000 resistance. Some market watchers suggest that more volatility could be around the counter, as the price is compressing between two key levels. Related Reading: Ethereum ‘Set For Potential Rally’ After 10% Surge – Can ETH Recover $1,800? Bitcoin Retests 4-Month Downtrend Line Over the past week, Bitcoin has been trading between the $74,000-$84,000 price range following the recent tariff war-related volatility. After hitting a one-week high of $84,720, the flagship crypto hit a five-month low of $74,773, driven by this week’s market correction. Amid this performance, the cryptocurrency risked a 13.7% drop to the $69,000 support, as it generally needs a daily close above the $78,500 level for a potential short-term rebound. However, BTC’s price has surged 13.5% since Monday’s lows and attempted to reclaim the $84,000 resistance. The market recovery was fueled by US President Donald Trump’s 90-day pause on the trade tariffs for over 75 nations, which saw the crypto market and stock prices jump 6%-10% in an hour this Wednesday. Nonetheless, the tariffs-driven rally slowed Thursday, with Bitcoin retracing nearly 5% to the $79,000 support. Analyst Alex Clay asserted that despite the bullish rally, BTC’s price needed to reclaim the broken $80,000 support and break through the descending 4-month resistance as its short-term structure continued looking bearish. During BTC’s 7% surge in the past 24 hours, the analyst highlighted the key support zone held, invalidating his bearish scenario. However, a breakout and reclaim confirmation of the $84,000 remained crucial for BTC’s price. BTC Preparing For More Volatility? Analyst Rekt Capital pointed out that Bitcoin successfully retested the $78,500 support, but its price was rejected from the 4-month downtrend resistance. Therefore, the flagship crypto’s price is now compressing between these two levels, which usually “precedes volatility.” The analyst also noted that BTC is “developing yet another Higher Low on the RSI while forming Lower Lows on the price.” During this cycle, the cryptocurrency has formed multiple bullish RSI divergences in the daily chart, each preceding a reversal to the levels. Bitcoin’s Daily RSI equaled 2022 Bear Market RSI levels (RSI=23.93) when price crashed into the high $70,000s. The only lower Daily RSI in this cycle was back in August 2023 (RSI=18.28). Throughout this cycle, each visit into sub-25 RSI resulted in a trend reversal to the upside over time. Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? Meanwhile, crypto analyst Ali Martinez suggested that BTC could see a retrace back to the $74,000 support zone. He observed that Bitcoin’s movements within its weekly range display a W-shape to the upper boundary, and its price action seemed to be forming an M-shape after Thursday’s retrace and Friday’s jump, which eyes the range’s lower boundary. On the contrary, the analyst also highlighted Bitcoin’s Friday performance, affirming that it “is slicing through key resistance at $82,360.” Notably, BTC’s price then jumped toward the $84,000 barrier, hitting a daily high of $84,220 before retracing to the $83,500 mark. According to Martinez, “A sustained breakout could open the door to $91,500.” As of this writing, Bitcoin trades at $83,640, a 1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum (ETH) has recovered 10% in the past 24 hours, driven by the US administration’s 90-day pause on the trade tariffs for over 75 nations. The second-largest crypto by market capitalization now targets the $1,800 resistance as the next key level to reclaim for a rally continuation. Related Reading: Bitcoin (BTC) Jumps To $82,000 As Trump Announces 90-Day Pause On Tariffs Except China Ethereum Jumps To $1,600 Ethereum’s price hit a 2-year low of $1,385 during this week’s correction, fueling a bearish sentiment among many investors. The cryptocurrency lost the lower zone of its $2,100-$3,900 macro range on March 9 and has retraced around 16% in the past month. Since then, Ethereum eyed a retest of historical demand zones, dropping below the $1,640 area to hit this week’s lows. As a result, many analysts have noted that ETH’s bleeding might not be over, and a retest of the $1,000-1,200 price range is likely if the king of altcoins doesn’t reclaim key levels. Amid its recent performance, ETH dropped below its realized price by accumulating address of $2,000, which some market watchers consider a potential bottom sign. According to research and analytics platform Crypto Rank, the last time Ethereum fell below this level was in March 2020, when the price dropped from $283 to $109 before significantly recovering in the coming months. Notably, US President Donald Trump’s 90-day pause on tariffs for multiple nations, except China, saw the crypto market and stock prices soar, with Ethereum recovering 10% in an hour. Is A Breakout In The Horizon? Analyst Titan of Crypto noted that Ethereum could be on the verge of a comeback based on the ETH/BTC trading pair. In the ETH/BTC chart, the “RSI is showing a familiar pattern. One that previously signaled a potential shift in momentum.” Notably, the multi-year chart shows that the pair tested the trendline three times before momentum shifted and the ETH price surged toward its 2021 ATH. Similarly, the pair has tested the trendline thrice since 2022, suggesting the cryptocurrency might be headed for a comeback. Analyst Crypto Bullet considers a weekly close above $1,550, a key historical support level, necessary for ETH’s bullish momentum. Meanwhile, pseudonym trader Lluciano affirmed that Ethereum “is showing signs of a breakout after holding strong at key support.” Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? Yesterday, ETH, which was retesting the 2018 all-time high (ATH) levels, jumped from $1,480 to $1,600, briefly nearing the $1,700 resistance before stabilizing between the $1,580-$1,640 price range. He pointed out that “the market could be ready for a bullish reversal” as the cryptocurrency has formed a falling wedge pattern. Per the post, if ETH breaks above the pattern’s upper trendline, at around the $1,840 mark, ETH could see “significant gains” and rally toward higher levels. As of this writing, Ethereum trades at $1,566, an 11% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Crypto and stock prices have surged in the past hour after US President Donald Trump announced a 90-day pause for tariffs on multiple nations, except China. Bitcoin (BTC), the flagship crypto, now eyes the $83,000 barrier after jumping 6.1% following the news. Related Reading: Bitcoin’s Next Big Move? Open Interest Says ‘Get Ready’ Trump Authorizes 90-Day Pause On Tariffs In a Truth Social post, President Trump announced he was raising China tariffs to 125% “effect immediately” due to a “lack of respect” shown to the World’s markets. This move follows China’s recently announced reciprocal 84% tariff rate on US goods, starting April 10. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump explained. In the Wednesday post, the US President also revealed he had authorized a “90 days PAUSE” for other countries, as 75 nations reached out to multiple US Representatives, including the Departments of Commerce, Treasury, and the US Trade Representative, to “negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non-Monetary Tariffs.” Additionally, he authorized an immediate substantially lowered Reciprocal Tariff of 10% during the 90-day pause. In a second post, the President stated, “This is a great time to buy.” Following the news, stock prices surged, with the S&P 500 (SPX) surging around 6% since the announcement. Meanwhile, the crypto market saw its total market capitalization jump around 5%, with assets like Bitcoin, Ethereum (ETH), XRP, and Solana (SOL) increasing 6%-12% in an hour. Bitcoin Price Surges To $82,000 The flagship crypto climbed from the $76,000-$77,000 range to the $82,000, momentarily reclaiming this level for the first time since Sunday. Its 6% surge has sparked optimism among investors, who saw Bitcoin fall to a five-month low over the weekend. BTC dropped nearly 10% between Sunday and Monday, fueled by the ongoing tariff war. Amid the correction, Bitcoin hit the $74,000 support zone for the first time since November. Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? On Monday, BTC also saw a brief recovery of the $80,000 barrier after major media outlets reported the White House was considering a 90-day pause on tariffs. However, the cryptocurrency erased most gains after the news turned fake. According to online reports, today’s surge triggered $75,000,000 worth of Bitcoin shorts being liquidated in the past 60 minutes. As of this writing, Bitcoin trades at $82,444, a 4.1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Amid the market correction, Solana (SOL) has reclaimed the $100 mark after dropping below this crucial support for the first time in over a year. However, some analysts consider a 15% bounce toward a key historical support is necessary to target higher levels. Related Reading: Bitcoin Headed To $69,000? Analyst Says BTC’s Short-Term Future Hangs On These Levels Is Solana Bull Run Over? Solana hit a 14-month low on Monday after falling 20% in 24 hours, momentarily trading around the $95 mark for the first time since February 2024. After the correction, SOL bounced around 18% to $112 before retracing toward the $100-$110 price range. Fueled by the market’s memecoin frenzy, the altcoin was one of the leading cryptocurrencies last year, hitting an all-time high (ATH) of $270 on January 19. Since then, the cryptocurrency has dropped over 63% from the start-of-year highs. During the Q1 retraces, Solana retested the $120 support zone several times, bouncing from the range, which served as a crucial level during the 2021 and 2024 rallies. However, several analysts pointed out that the support weakened with each retest, and losing that level could see Solana fall under the $100 mark and risk a 50% drop to the $60 support zone. After dropping below the key barrier, trader Crypto Bullet highlighted that SOL’s recent price action broke below August 5 lows, which signals that the cryptocurrency’s bull market could be over. According to the trader, Solana had a “clear 5-wave impulse to the upside that ended in January with TRUMP coin blow-off top,” which suggests a corrective a, b, c zigzag will follow. Based on this, the trader expects “a good mid-term bounce to ~$200 (Lower High)” for wave b and a drop to the $30-$40 price range for wave c. SOL Needs 15% Jump Analyst Ted Pillows considers that Solana could see a massive rally after the correction. He explained that SOL bounced from its multi-year ascending support trendline, a key rebound point in Q3 2023. The last time Solana retested this trendline, it rallied 1,000% toward the $270 mark. If the cryptocurrency holds this level, the analyst considers that SOL could bounce to its ATH in the coming months. Meanwhile, several analysts noted that recovering the $120 support zone is crucial after the recent price action, as this level could determine the altcoin’s next move again. Related Reading: XRP Breaks Out Of Head-And-Shoulders Pattern — Eyes Move Toward $1.30 Sjuul from AltCryptoGems highlighted that SOL needs to “give a clear bounce and reclaim the $120 level” now that “liquidity is taken.” He asserted that failing to recover this key range would suggest that another drop could be ahead. Similarly, Ali Martinez pointed out that Solana’s TD Sequential flashes a buy signal on the weekly chart. Per the post, SOL “needs to stay above $95 and break $121 to set the stage for a rally toward $147.” As of this writing, Solana trades at $105, a 1% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The market volatility, fueled by the ongoing tariff war, saw Bitcoin (BTC) trade below the $75,000 mark for the first time since November. Despite recovering from the dip, the flagship crypto risks more short-term volatility if it doesn’t reclaim key support levels soon. Related Reading: XRP Confirms Head And Shoulders Breakdown: How Low Can It Go? Bitcoin Hits 5-Month Lows Bitcoin ended the week with a price drop below the $80,000 support zone, closing Sunday below the $78,500 mark. In the early hours of Monday, the largest cryptocurrency by market capitalization continued bleeding toward the $74,500 support zone before bouncing. Amid the 9.1% correction, Bitcoin registered its lowest trading price in five months, touching November 6 levels. Market watcher Daan Crypto Trades noted that BTC has been trading below its Bull Market Support Band for the past few weeks, attempting to get back above this level but ultimately facing rejection. According to the trader, “This is a good metric to gauge high timeframe market momentum. So far this cycle, price has traded below it shortly a few times (2023 & 2024) but never traded away from it for much more than ~20%,” suggesting that bull would like to reclaim this region. Analyst Rekt Capital noted that BTC’s current correction is “very close to equaling the retracement depth of the Post-Halving pullback of almost -33%.” The ongoing retrace has seen Bitcoin drop 31% since January’s all-time high (ATH) of $108,786. However, he considers that Bitcoin could bleed into the $70,000 support before hitting the correction’s bottom. “Whenever Bitcoin’s Daily RSI crashed into the sub-28 RSI levels – that wouldn’t necessarily mark out the price bottom. In fact, historically, the actual price bottom would be -0.32% to -8.44% lower than the price when the RSI first bottomed,” he explained, adding that Bitcoin is forming its second low, 2-79% below the first low. If it follows the same pattern and drops 8.44% below the first low, investors could see Bitcoin’s price bottom at around $69,000-$70,000. Another 10% Correction Ahead? Moreover, Rekt Capital outlined the key levels to reclaim after BTC’s weekly close below the $80,650 support. The analyst noted that Bitcoin already has “upside wicked into this level to tag it as potential new resistance” this week. As a result, it must recover last week’s close level if BTC wants to challenge 2025’s Weekly Downtrend, and it also needs to hold Sunday’s daily close level of $78,500. Bitcoin failed to Daily Close above the Downtrend. In fact, price continued to form new Lower Highs in its already extended series of Lower Highs. On the latest rejection, BTC landed into the ~$78,500 lows. Continue to hold this level as support, and BTC has a chance at challenging the $82,500 level in the short term. The analyst detailed that Bitcoin generally needs to close above the $78,500 level to “build a base here for a potential short-term rebound.” On the contrary, a daily close below this level would see BTC positioned for a bearish retest after closing below it for two consecutive days. Related Reading: Bitcoin Goes Beast Mode—Mining Power Tops 1 Zetahash In First-Ever Surge He concluded that “turning this level into a confirmed resistance would send price into additional downside continuation,” which targets the pre-halving highs price range between $69,000 and $72,000. As of this writing, BTC trades at $79,200, a 1% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Amid the market retrace, Aptos (APT) has seen an 8% decline in the past 24 hours, falling below a key support zone for the second time this week. Despite the correction, some analysts consider that the cryptocurrency could be poised for a breakout soon. Related Reading: Ethereum Trading In ‘No Man’s Land’, But Analyst Says Breakout Is A Matter Of Time Aptos Loses Macro Range Lows During the March retraces, Aptos fell below a crucial support level for the first time since August 2024 but recovered 24% near the end of the month. However, APT followed the rest of the market and dumped 11% to close the March below key levels. Analyst Rekt Capital noted that APT closed last month below its Macro Range Low of $5.44 for the first time. The cryptocurrency has been trading within the $5.45-$17 price range since 2023, retesting the range lows two times before. Historically, “APT tends to develop bases here in the form of downside wicks for three-month periods,” he explained, adding that the cryptocurrency seems to be developing a third three-month base, with the difference that it has closed below this range for the first time in the monthly timeframe. Following this performance, Aptos will need to reclaim the $5.44 level as support “to end this Monthly close as a downside deviation” and “avoid a bearish retest here.” Previously, the analyst suggested that holding this level could reverse ATP’s price action in the coming months, as it has done with the other clusters. Additionally, he pointed out the previous consolidations included a “downside wicking below support.” In his recent analysis, Rekt Capital considers that APT’s daily bullish divergence “is still something worth watching” as the cryptocurrency’s Relative Strength Index (RSI) continues to form Higher Lows despite the recent downside deviation, and its price “is trying to transition away from Lower Lows into a new Higher Low.” According to the analyst, “a clear market structure is developing here, and a breakout from it would validate the Bull Div and set APT up for a reclaim of the Macro Range Low of $5.44,” which is key for a bullish rally. APT To Reclaim $6.5 Resistance? Analyst Sjuul from AltCryptoGems highlighted Aptos’ strength amid the market volatility, which saw Bitcoin (BTC) drop from $88,000 to $81,000 in the past 24 hours. APT dropped from the $5.40 mark to the $4.95 support. The analyst considers that a retest of the local range lows could be necessary before the cryptocurrency aims for the next crucial level, as the current price zone has been tested many times. Related Reading: ACT Memecoin Crashes 50% As Several Altcoins Suddenly Tank On Binance – What’s Going On? Moreover, a reclaim of the $5.44 range could see the APT surge another 20% to the $6.5 resistance lost two months ago. Another market watcher suggested that Aptos is “showing potential for a bullish breakout as it trades within a descending channel.” Per the chart, the cryptocurrency has been trading within a descending channel since early February, testing the channel’s lower and upper boundaries throughout March. “After testing the lower trendline, it may be finding support, and a break above the upper resistance will signal a significant rally,” the analyst concluded. As of this writing, Aptos trades at $5.02, a 16.1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
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
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
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
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
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
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
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
Following the market’s recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETH’s performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETH’s price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the “King of Altcoins” surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been “running into critical resistance on the Daily chart,” as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrency’s run and send the price toward the previous support zones. However, Ethereum’s price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereum’s price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it “an important level to watch.” A breakout above this mark could further propel ETH’s price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereum’s chart is “looking a lot like a 2023 redux.” Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrency’s current market structure resembles its 2023 movements very closely. A repeat of ETH’s previous bullish trajectory suggests that ETH’s price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereum’s price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com
Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardano’s price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a “lack of appeal” to the broader public. Additionally, many have criticized ADA’s “underwhelming” price action. However, the token’s recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardano’s recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardano’s token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADA’s price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADA’s market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance “indicates a huge trend reversal for Cardano.” However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structure’s higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For ‘Strongest September Performance’, Is $90,000 Next? Other analysts also highlighted ADA’s performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern.” To the analyst, “If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste.” ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com
Celsius token skyrockets 300% a month after paying $2.5 billion to creditors, marking a strong rebound in the aftermath of its bankruptcy settlement.
Solana (SOL) joined the recent crypto market pump after climbing 10% on Thursday. SOL’s price broke above a key resistance level, reigniting the bullish sentiment among investors and traders who believe the cryptocurrency is soon poised to reclaim higher targets. Related Reading: October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000 Solana Breaks Above Key Resistance Level Following the highly anticipated US Federal Reserve (Fed) rate cuts, the crypto market rebounded 5% in the last 24 hours. Most cryptocurrencies have registered green numbers in the past day, recovering from their performance in the past few weeks. Solana, the fifth-largest cryptocurrency by market capitalization, regained momentum on Thursday after reclaiming a key level. The token had failed to break about the $140 resistance level throughout September, consolidating between the $130-$139 price range in the last few weeks. SOL had registered a 7% weekly drop by Wednesday, which alarmed many investors and market watchers. Some crypto analysts considered the token’s recent performance hinted at a possible correction that could drive the token’s price to a yearly low. Seasoned trader Peter Brandt suggested that the cryptocurrency could face a significant correction to the $80 support zone if it unsuccessfully continued retesting this resistance level. Nonetheless, SOL’s price recovered from its disappointing performance, jumping over 10% in the last 24 hours. The cryptocurrency moved past the $140 mark on Thursday morning, breaking out of a two-month downtrend. The price surge represented a 5.4% and 8.3% increase in the weekly and biweekly timeframes. Additionally, its daily market activity soared 81.3% in the past day, with a daily trading volume of $3.76 billion. Experts Set Next Targets For SOL Some analysts highlighted Solana’s performance, suggesting that the cryptocurrency is ready to aim for higher targets. Crypto analyst Jelle stated that, in the higher timeframes, Solana has performed considerably better than most altcoins. Other market watchers previously noted Solana’s strength since Q3 started. During the market retraces, the cryptocurrency was deemed “one of the strongest assets” after moving sideways while other tokens made new lows. Jelle highlighted that SOL’s price still held “all key support levels even though most altcoins are down >50% from the highs.” Effectively, Solana has remained above the $120 support zone since March, currently being 31% down from March’s highs. Related Reading: Will Bitcoin Bullish Swing Continue? Top Analyst Says Yes Similarly, crypto analyst Yuriy considers SOL’s recent performance has set the stage for a breakout above the $150 resistance level. However, he warned that bulls must hold the $138 mark, as failing to maintain this support could lead to a correction to the $120 level. The analyst believes a successful breakout will send SOL’s price to the $160 resistance zone next, potentially moving toward the $180-200 targets. As of this writing, SOL is trading at $143.3, a 12.2% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com