Saturday, November 22, 2025

Advertise

spot_img
Home Blog Page 1032

Solaxy Presale Ends in 27 Days, Aims for $74M+ Presale Raise โ€“ Buy While You Can

0

Solaxy ($SOLX), the native token of Solanaโ€˜s first-ever Layer 2 solution and one of the most anticipated new cryptos, has entered the last 27 days of its presale, and investors (both retail and whales) canโ€™t keep calm!

The Solaxy presale has emerged as one of the best crypto presales in 2025, having raised nearly $40M at the time of writing. Plus, it shows no signs of stopping.

With an Einstein-like Pepe the Frog as its mascot, Solaxy aims to raise a total of around $74M in early investor funding. Generally, weโ€™d call a goal this high too lofty, but for a revolutionary project like Solaxy, the skyโ€™s the limit.

After all, Solaxy aims to solve congestion and scalability issues on Solana, one of the biggest blockchain networks today.

$SOLX Will Make Transactions on Solana Faster

Solana, in case you didnโ€™t know, is the best blockchain for meme coins. Itโ€™s got everything meme coin traders want: speed, reliability, and low fees.

However, ever since the launch of $TRUMP and $MELANIA, as well as the explosive success of Pump.fun, Solana has become increasingly susceptible to overloading whenever thereโ€™s a spike in network activity.

In short, Solana has become less efficient. It often fails to send transactions through, resulting in network congestion. Needless to say, failed (or slow) transactions can frustrate crypto degens. Enter Solaxy ($SOLX).

By building the first-ever L2 on Solana, Solaxy aims to facilitate faster transactions while maintaining the networkโ€™s security and efficiency.

$SOLX uses a roll-up technology, which processes transactions off-chain and then bundles them for a single on-chain validation.

Doing so will benefit Solana in two ways:

  • First, it will reduce network congestion by lowering the burden on Solanaโ€™s mainnet.
  • Second, because each transaction will no longer be processed individually, the total fees required on Solana will also come down.

Itโ€™s worth noting that this technology also makes Solaxy ideal for high-frequency dApps, such as meme coin platforms, gaming ecosystems, and financial applications.

Increasing $SOLX Whale Activity

You donโ€™t get to $38M in early investor funding without huge contributions from crypto whales.

Of course, weโ€™ve seen unprecedented amounts of retail participation in the Solaxy presale, but whale activity holds special importance.

The most significant piece of positive news is that whale activity in $SOLX has increased over the past few days.

As mentioned earlier, interest from whales is always a good sign for any new meme coin on presale. It indicates that the project is more than just hype and actually can deliver on its promises.

Oh, and itโ€™s worth mentioning that Solaxy is unlike other meme coins in that it has real-world applications, too. When $PEPE alone has recorded triple-digit gains in the last few months, imagine what a utility-driven Pepe could do!

An increase in whale participation is also one of the biggest reasons we believe Solaxy may have the legs to reach its goal of $74M in the next 27 days.

To learn more about Solaxy, read through its whitepaper. As the presale is heading towards a close, weโ€™d also suggest subscribing to Solaxyโ€™s X feed and Telegram channel for regular updates.

Recent Solaxy Developments

A close look at Solaxyโ€™s tokenomics reveals that the developersโ€™ core focus is on project development. A total of 30% of the 138B $SOLX token supply is reserved for funding technological advancements and dApp support.

Another 20% is reserved to ensure the long-term financial stability of the project, and a chunky 25% has been kept for staking rewards and ecosystem incentives.

Solaxy Tokenomics

Itโ€™s worth noting that Solaxy also offers dynamic staking rewards, meaning you can stake your purchase tokens to earn extra income.

The current APY is around 106%, but note that the rate of return is expected to decrease as more and more participants buy $SOLX during the last stage of the presale. So, this might be your last chance to earn some handsome staking rewards.

Moreover, the Solana Testnet bridge, which enables users to transfer native $SOL tokens between the Solana Devnet and the Solaxy Testnet, went live on May 15.

Solana Testnet

This marks a significant step towards cross-chain interoperability and full blockchain compatibility. Solaxy will soon launch Ethereum bridging for the mainnet as well.

Along with this, a new block explorer feature was also launched. It allows you to monitor transactions on a layer-2 network in real time.

Become an Early Investor in the Solaxy Presale

As mentioned earlier, Solaxy is currently in presale, meaning you can buy it for some of its lowest-ever prices.

Each token is currentlyย priced at just $0.00173, and according to our $SOLX price prediction, it could reach $0.2 by the end of 2030 โ€“ a brain-melting 11,560% increase.

Simply put, $100 invested in $SOLX now could become $11,560 in around five years. No wonder Solaxy is one of the best cryptos to invest in right now.

Solaxy ($SOLX)

Buying $SOLX is straightforward, too. Just head over to the official Solaxy presale website and connect your crypto wallet. We recommend Best Wallet for this.

Next, punch in the number of $SOLX tokens you want to buy. Alternatively, you can input the money youโ€™re willing to invest. Finally, authorize and complete the transaction from your crypto wallet.

Itโ€™s worth noting that the tokens wonโ€™t be immediately credited to your wallet. Instead, you will have to wait for the official claim date, which will be announced after the end of the proposed 27 days.

On the claim date, youโ€™ll again have to connect your crypto wallet to the Solaxy presale website and claim your tokens. Following this, youโ€™ll receive them in your crypto wallet.

For more information about the purchase process, check out our step-by-step guide on howย toย buyย Solaxy.

Finally, kindly bear in mind that investments in crypto are subject to market volatility, which is highly unpredictable. We recommend that you do your own research before investing. This article is not financial advice.

โ€˜Very Resilientโ€™ US Economy Among Three Reasons Fed Wonโ€™t Cut Interest Rates in 2025: Yardeni Research

0

The president of sell-side Wall Street firm Yardeni Research, Ed Yardeni, believes that the Federal Reserve will stay the course and hold interest rates at current levels.

In a new CNBC interview, Yardeniย saysย heย doesnโ€™t anticipate any monetary policy easing, citing a resilient US economy fueled by robust household spending and strong capital investments from tech companies.

โ€œI was not expecting that there would be a Fed rate cut this year. And I still think that because the US economy is very resilient. The consumer hung in there extremely well over the past three years when the Fed raised interest rates. And now the consumer has held up, I think, quite well with the tariff uncertainty.

And capital spending, for all the concerns that uncertainty would put a hammer to capital spending, the reality is that technology capital spending, which now accounts for over 50% of total capital spending, remains very strong.โ€

Yardeni also believes that the allure and demand for US Treasuries will remain strong.

โ€œThe US is the largest capital market in the world. Thereโ€™s nothing like it. Sure, weโ€™ve got a lot of debt. But people have been buying that debt because they do want Treasuries.

So no, the worst that can happen in the Treasury market, as we saw in 2023, is yields go up to levels of which people want to buy them. And they got up to 5%, people wanted to buy them. And before you know it, the yield came right back down.โ€

ย 

Follow us on X, Facebook and Telegram

Don’t Miss a Beat โ€“ Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post โ€˜Very Resilientโ€™ US Economy Among Three Reasons Fed Wonโ€™t Cut Interest Rates in 2025: Yardeni Research appeared first on The Daily Hodl.

Does Ripple Have the Upper Hand Against Coinbase in the Battle for Circle?

0

TL;DR

  • Ripple and Coinbase are reportedly competing to acquire Circle, with supposed offers exceeding $10 billion.
  • The stablecoin issuer is said to favor Coinbase due to their shared history with USDC, but one X user believes Ripple has the better chance of winning the bid.

The Contested Duel

Earlier this year, Circle โ€“ the financial services company behind the popular stablecoin USDC โ€“ revealed its intentions to list its stocks on the New York Stock Exchange under the symbol CRCL. However, its plans to go public might not go forward since two crypto giants are supposedly willing to acquire it.

According to a recent Fortune report, Ripple and Coinbase are ready to pour billions of dollars into a takeover. The coverage became one of the hottest topics in the crypto space, and numerous X users contributed with diverse opinions.ย 

Paul Barron โ€“ an angel investor with over 160,000 followers on the social media platform โ€“ claimed that, according to some sources, Ripple has the upper hand. He also argued that the dealโ€™s price tag might exceed $10 billion.ย 

Just weeks ago, several reports hinted that the company made an offer of around $4-$5 billion to acquire Circle, which the latter supposedly rejected for being too low. Subsequent rumors suggested that Ripple later raised the bar to $20 billion, but those have not been officially confirmed.

Fortuneโ€™s coverage claims that Circle prefers to be acquired by Coinbase. After all, the two have a history of collaboration. In 2018, they co-founded the Centre Consortium to launch USDC, a stablecoin pegged 1:1 to the American dollar. However, in 2023, they dissolved the consortium, with Circle assuming full control over the tokenโ€™s issuance and governance.

Ripple Demonstrates Its Financial Power

The company behind XRP has already shown that it has the capacity to ink multi-billion-dollar deals. Earlier this year, it purchased the prime brokerage Hidden Road for a whopping $1.25 billion, representing one of the largest settlements ever in the crypto world.ย 

โ€œBut the price tag isnโ€™t whatโ€™s most important. Itโ€™s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa,โ€ Rippleโ€™s CEO Brad Garlinghouse said at the time.ย 

The executive also revealed that Hidden Road will use XRPL for post-trade settlement on some transactions, while certain analysts explained why the move could be a game-changer for XRP. Among those sharing that thesis was the X user WrathofKahneman.ย 

The post Does Ripple Have the Upper Hand Against Coinbase in the Battle for Circle? appeared first on CryptoPotato.

Auradine Expands Bitcoin Mining Solutions with Advanced ASIC Chips, Cooling Systems, and Modular Megawatt Containers

0

Bitcoin Magazine

Auradine Expands Bitcoin Mining Solutions with Advanced ASIC Chips, Cooling Systems, and Modular Megawatt Containers

Auradine Inc., a U.S.-based Bitcoin miner manufacturer, today announced it is unveiling a broadened portfolio of mining products at the Bitcoin 2025 Conference in Las Vegas, featuring high-performance ASIC chips, specialized cooling systems, and fully integrated modular containers engineered for scalable, megawatt-class mining operations, according to a press release sent to Bitcoin Magazine.

โ€œOur goal is to democratize access to Bitcoin mining and enable innovative integrations,โ€ said the CEO and Co-Founder of Auradine Rajiv Khemani. โ€œWhether youโ€™re running a megawatt container or building a small form-factor heater-miner for your home, we provide the chips, systems, and support to help you succeed. This new chapter is about giving miners the tools to innovate, scale, and operate efficiently.โ€

The new ASIC offerings, designed for both industrial and small-scale deployments, support customizable form factors and have already been adopted by operators including MARA Holdings, FutureBit, and Deep South Operating. Alongside the chips, Auradine continues to produce a full range of mining rigs to support a variety of deployment needs.

โ€œAuradineโ€™s ability to deliver both high-performance chips and scalable infrastructure aligns with MARAโ€™s mission to stay at the forefront of bitcoin mining,โ€ stated the Chief Technology Officer of MARA Holdings Ashu Swami. โ€œWe have been pleased with the partnership with Auradine with their leading edge engineering capability and innovation.โ€

Auradineโ€™s modular 1 MW container units, developed in collaboration with Fog Hashing and FBox, are designed to accommodate 100โ€“200 miners each. Merkle Standard, the first to deploy the system, reported improved energy efficiency and operational flexibility.

โ€œWe were the first to deploy Auradineโ€™s container solution, and it immediately exceeded our expectations,โ€ said the COO at Merkle Standard Monty Stahl. โ€œThe combination of performance, energy efficiency, and modular design gives us the flexibility to scale our operations faster and smarter than traditional infrastructure allows. This is the kind of innovation the mining industry has needed for a long time.โ€

Their recent $153 million Series C funding supports its push to offer flexible mining infrastructure and supplying ASIC chips for third-party integration. The company also plans to extend its hardware expertise to AI and networking through its AuraLinks initiative.

โ€œWe were one of the first to try Auradineโ€™s ASIC chips and were immediately impressed by the support and customization that the team provided,โ€ย  added the CEO of Deep South Operating, LLC Brock Tompkins. โ€œIt helps miners like us to stay scalable and efficient while raising the standard for what decentralized mining looks like.โ€

This post Auradine Expands Bitcoin Mining Solutions with Advanced ASIC Chips, Cooling Systems, and Modular Megawatt Containers first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Massive XRP Selling Pressure Is Stalling Price Action, Analyst Warns

0

XRPโ€™s latest rally attempt has stalled just beneath a key volume-weighted average price (VWAP) level that traces back to the assetโ€™s all-time high, according to a market update published on X earlier today by independent trader Dom (@traderview2).

XRP Selling Pressure Is Capping Price Gains

The 12-hour Binance chart shared by the analyst shows XRP/USDT changing hands at $2.4375 at 12:18 UTC-4, up 2.08 % on the session but still unable to reclaim what Dom labels the โ€œATH VWAPโ€โ€”a long-term metric drawn from the April 2021 peak. A green band representing that average is currently drifting downward through โ‰ˆ $2.47, capping every intraday advance since mid-May.

XRP price analysis

Beneath the price action, the sellerโ€™s footprint is unmistakable. โ€œThereโ€™s simply been an overload of market selling and passive buyers have really tried their best to hold it up so far,โ€ Dom wrote, citing proprietary order-flow statistics that record a net outflow of 240 million XRP across spot venues in the past week. Roughly 180 million of those units were allegedly dumped on Coinbase and South Korean exchange Upbit, while Binance has actually been decently flat, the post adds.

The same chart plots two shorter-term anchored VWAPs that have become the coinโ€™s last line of near-term support: a one-month rolling VWAP at $2.31, currently 5.22% below the session high (orange), and a three-month VWAP at $2.28, 6.40 % lower (cyan).

XRP is โ€œhanging on to the monthly and quarterly VWAP by a thread,โ€ Dom warns. A decisive breach of those bands around $2.31โ€“2.33 would leave the market โ€œreally just mid-range noise until โ€ฆ $2.20 is lost,โ€ he adds, pointing to the Decemberโ€“February midpoint drawn on the left-hand volume profile.

While Bitcoin has been โ€œreally just bouncing aroundโ€ in a broad consolidation zone, the correlation has offered little relief to XRP bulls. Every minor rise in BTC has been met by fresh spot offers in XRP, underscoring what Dom calls the โ€œvery hard to see upward moves when we are seeing this type of market selling pressure.โ€

For now, the technical chessboard is clear: reclaim the ATH VWAP and the path opens toward the late-March swing high above $3.00; lose $2.20 and the door swings the other way, toward the confluence of high-volume nodes stacked below $2.00. Until one of those barriers gives, the analyst concludes, XRP โ€œhas lost its pep in its stepโ€ and remains caught in a tug-of-war between relentless spot sellers and a thinning layer of passive bids.

At press time, XRP traded at $2.36.

XRP price

DigiAsia sparks short-term rally after announcing plan to buy BTC

0

DigiAsia, an Indonesian fintech company, is the latest to showcase the effect of announcing a potential BTC treasury. The mere announcement of plans to buy BTC led to a 91% stock rally within the past day.ย 

DigiAsia, an Indonesian fintech company, saw its stock rally over 91% hours after announcing an upcoming BTC treasury. The firm joins a long list of public announcements, some of which served to boost the companyโ€™s stock and profile.ย 

โ€œWe believe Bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification,โ€ said Prashant Gokarn, Co-CEO of DigiAsia, in an earlier statement.ย 

โ€œThis move positions DigiAsia at the forefront of institutional crypto adoption and reflects our broader commitment to fintech and blockchain innovation,โ€ย he said.

DigiAsia plans to keep BTC as a long-term asset, while also seeking passive income through lending or other yield-generating solutions.

DigiAsia seeks a $100M financing round

Shares of FAAS rose from $0.19 to $0.56 immediately following the announcement, but then fell to $0.36. FAAS is currently down from $9.45 in 2022 and has been declining over the past few years.ย 

DigiAsia sparks short-term rally after announcing plan to buy BTC
DigiAsia shares jumped immediately after the BTC treasury announcement. | Source: Google Finance

The BTC treasury announcement arrives after a long slide for the stock price, so the daily gains are not as significant in the long term. Even the plans to acquire BTC often give a short-term boost to a companyโ€™s stock price and improve attention and social media presence.ย 

DigiAsia faces the challenge of raising $100M to achieve its purchasing goals. The company has secured board approval at this stage, but will still have to gauge the demand for its financial instruments. The company will also allocate up to 50% of any net earnings to acquire BTC.

DigiAsia reported $101M in revenues for 2024, with a small net loss. The company projects revenues of $125M for 2025, as the fintech sector expands in Southeast Asia. DigiAsia taps into the model of supplying small and medium companies with financial services. The companyโ€™s products include cashless payments, digital wallets, and banking ramps. It is active in Southeast Asia, India, and the Middle East.

For now, not all companies have fulfilled their intentions, and they are still working out the details of fundraising. Even those that are building treasuries are nowhere near the achievements of Strategy, MARA Holdings, or Metaplanet.ย 

Corporate treasuries lag behind ETFs

Pubic companies still lag behind ETFs in terms of BTC demand. The relative novelty of corporate treasuries signals that buying may just be starting out.ย 

Strategy currently holds 2.74% of the BTC supply, still lower compared to BlackRockโ€™s IBIT ETF, which holds 3.04% of the supply.ย 

In total, public companies hold 795,887 BTC, with only a few successful instances of leveraged purchases and regular treasury additions. For some of the companies, BTC holdings were a legacy from mining operations. ETFs and other funds are much more active buyers, holding over 1.34M BTC.ย 

The main difference is that ETFs are usually highly active sellers, often worsening BTC market crashes. Corporate treasuries are more long-term focused, with only limited selling from mining corporations.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

5 Bullish and 2 Bearish Indicators for Bitcoin as BTC Price Approaches ATH Levels

0

Just a month and a half ago, this article would have made no sense when BTCโ€™s price tumbled below $75,000 and the main speculations within the community turned on whether the bull run had abruptly ended.

Yesterday, bitcoinโ€™s price stood at $30,000 higher, and it came just 2% away from breaking its all-time high from January. It sits slightly lower now, but thereโ€™s something in the air that suggests a new peak is coming. Letโ€™s see what on-chain data and some technical indicators will say about that.

The Bull Case

We begin with large accumulations. After all, prices tend to rise if thereโ€™s more buying momentum, right? Lookonchain listed a number of whales that have gone on an accumulation spree in the past few days, purchasing in total over $250 million worth of BTC.

The accumulation group is typically led by Michael Saylorโ€™s Strategy, and the worldโ€™s largest corporate holder of bitcoin didnโ€™t disappoint this week. On Monday, the NASDAQ-listed company announced the latest purchase of BTC, worth three-quarters of a billion. Metaplanet also joined the pack by acquiring over 1,000 BTC for $104 million.

In the same context, itโ€™s also worth exploring the ETF inflows, which have been in the green for most of the past month. In fact, there have been only four red examples since April 14 out of 25 trading days. According to data from Farside, the value of net inflows has surged past $3.3 billion since May 1.

Finishing off the accumulations with data from Glassnode, which reads that (almost) all sorts of BTC wallets have been buying recently โ€“ itโ€™s not just whales and corporations.

The fifth bullish signal for bitcoin comes from a slightly different perspective, as the overall market sentiment has switched to more positive ground. This is evident from the growing number of BTC leaving exchanges and the MVRV ratio, which is far from the peak levels.

The Bearish Side

When there are bulls, there have to be some bears, right? Well, their narrative receives support from the daily RSI, which has gone into an overbought territory, according to data shared by Ali Martinez.

The popular analyst shared another worrying sign for BTCโ€™s future price movements as miners, the backbone of the worldโ€™s largest blockchain network, have gone on a selling spree in the past day or so, disposing of over $250 million worth of the asset.

The post 5 Bullish and 2 Bearish Indicators for Bitcoin as BTC Price Approaches ATH Levels appeared first on CryptoPotato.

Cardano (ADA) Exploded to New ATH the Last Time This Happened: Details

0

TL;DR

  • Cardano (ADA) shows bullish signs as almost one billionย tokens have been moved from exchanges in 2025, reducing the immediate selling pressure โ€“ a pattern similar to the lead-up to its 2021 all-time high.

  • Analysts forecast a major breakout, with Ali Martinez eyeing $1 under certain conditions. Others predict a climb to $3 before the end of the year.

Major Rally in the Cards?

Cardanoโ€™s native token might be down 9% in a week, but some essential metrics hint that the price may soon rebound and even head toward historic peaks. An example is the exchange netflow, which has been predominantly negative in the last several months.

Data compiled from CoinGlass shows that investors have moved almost 980 million ADA tokens since the beginning of 2025. Calculated at current rates, the stash equals roughly $680 million.ย 

ADA Exchange Netflow
ADA Exchange Netflow, Source: CoinGlass

Moreover, there has been only one week this year when the netflows were positive. A similar trend was observed between mid-May 2021 and the end of August the same year. At the start of the period, ADAโ€™s valuation hovered at less than $1.80, while months later, it skyrocketed to an all-time high of over $3 (representing a nearly 75% increase).ย 

The cryptocurrency currently trades at around $0.72, meaning that a potential ascent of that type would push the price above $1.25.ย 

Even if the development doesnโ€™t result in such a gigantic surge, it is generally considered a bullish factor. It suggests that investors have shifted from centralized exchanges toward self-custody methods, which reduces the immediate selling pressure.ย 

Price Forecasts

Some popular market participants also assume that ADA could head north soon. Ali Martinez recently predicted that the price may reach $1 if it first rises above $0.81.ย 

Another analyst who chipped in is Henry, an X user with almost 120,000 followers. They characterized ADA asย  the ocean: โ€œcalm, deep, and misunderstood.โ€ Nonetheless, Henry claimed that when the asset moves, it sends ripples throughout the entire market.

โ€œWhile the crowd chases fireworks, Cardano is shaping infrastructure. Slow is smooth. Smooth is fast, and ADAโ€™s tide is turning,โ€ the X user argued.

The analyst concluded with a price forecast, envisioning a rise to as high as $3 sometime this year.ย 

The post Cardano (ADA) Exploded to New ATH the Last Time This Happened: Details appeared first on CryptoPotato.

Ripple Price Analysis: XRP Seems Ready to Break Out of Consolidation Phase

0

XRP remains in a prolonged consolidation phase, trading within channels across both its USD and BTC pairs. The structure is tightening, signalling an imminent breakout. However, momentum has cooled, and the market is awaiting a catalyst.

Technical Analysis

The USDT Pair

XRP/USDT continues to respect the boundaries of a large descending channel. The price recently failed to break above the $2.60โ€“$2.80 resistance zone, which aligns with the upper trendline of the pattern. On the downside, the $2.10-$2.30 support area remains critical, especially with both the 100-day and 200-day moving averages holding below the price in this range.

A confirmed breakdown of this level could open the door for a retest of the $1.90 zone, while a breakout above $2.60 may push the price toward the $3.20 region. Meanwhile, the RSI sits around 50%, indicating a neutral stance with a slight bearish bias.

The BTC Pair

XRP/BTC is compressing within a falling wedge, currently trading just above the 2100 SAT support area. The pair recently got rejected from the 2500 SAT resistance zone, which overlaps with the wedgeโ€™s upper trendline and the 100-day moving average.

The 200-day MA near the 2300 SAT mark has also been broken to the downside, making further downside and breakdown of the 2100 region highly probable. The RSI also shows values around 40%, signaling that the bearish momentum is still in play. So, unless buyers step in soon, a breakdown from the wedge pattern could trigger further Ripple weakness against Bitcoin, which could also translate to a downtrend against the dollar.

The post Ripple Price Analysis: XRP Seems Ready to Break Out of Consolidation Phase appeared first on CryptoPotato.

Ethereum Price Analysis: ETH Testing Crucial Resistance Line, Is $3K Next?

0

Ethereum is currently testing a decisive resistance region near the 200-day moving average at $2.5K, which has triggered a consolidation phase.

While a deeper short-term correction remains possible due to prevailing supply and overbought conditions, market structure and momentum suggest a potential bullish breakout in the mid-term.

Technical Analysis

By ShayanMarkets

The Daily Chart

ETHโ€™s recent bullish momentum has pushed the price toward the critical $2.5K resistance zone, which aligns with the 200-day moving averageโ€”a historically significant level of supply and market reaction. Upon testing this confluence of resistance, Ethereum has lost its upward momentum, entering a temporary consolidation phase.

A decisive breakout above this psychological barrier and the 200-day MA would signal a shift in market sentiment, potentially marking the beginning of a broader bullish reversal. Such a move could propel the price toward the $3K threshold in the mid-term.

However, the presence of a resting supply at this level, combined with the RSI indicator showing overbought conditions, increases the likelihood of a short-term corrective move. A continued consolidation within the $2.1Kโ€“$2.5K range remains plausible, offering the market time to reset before another breakout attempt.

The 4-Hour Chart

In the 4-hour timeframe, Ethereumโ€™s rally has visibly stalled at the $2.5K mark, with signs of distribution and selling pressure becoming apparent. This consolidation has formed a bullish continuation wedgeโ€”an often reliable pattern suggesting a temporary pause before a potential breakout.

If the wedgeโ€™s lower boundary successfully holds, Ethereum could soon initiate a bullish breakout, reclaiming momentum and potentially breaching the $2.5K resistance zone. Conversely, a breakdown below this pattern would indicate a deeper correction, likely driving the price toward the key support level of $2.1K.

In summary, ETH remains in a state of consolidation under a major resistance level. Traders should closely monitor the wedge structure and the $2.1Kโ€“$2.5K range for clues on the next significant move.

Onchain Analysis

The bubble chart below illustrates total trading volume across all exchanges, where bubble size reflects volume magnitude and colour indicates the rate of volume change, categorized as Cooling, Neutral, Overheating, and Highly Overheating.

As shown, Ethereumโ€™s approach to the critical $2.5K resistance level has led to an overheating state, characterized by a significant surge in trading volume. This spike is primarily driven by profit-taking activity and the presence of resting supply at this psychologically significant price zone. The overheated condition points to a likely short-term correction as the market cools down, paving the way for renewed accumulation.

Consequently, Ethereum is expected to continue its consolidation phase until fresh demand emerges to drive a breakout above this resistance range in the mid-term.

The post Ethereum Price Analysis: ETH Testing Crucial Resistance Line, Is $3K Next? appeared first on CryptoPotato.

Translate ยป