Bitcoin Price Holds Steady, But Futures Sentiment Signals Caution – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. According to a recent CryptoQuant Quicktake post, while Bitcoin (BTC) has seen a steady rise in price from November 2024 to February 2025, sentiment in the cryptocurrency’s futures market has not shown a corresponding uptick. Bitcoin Futures Sentiment Index Signals Caution Bitcoin’s price surged from approximately $74,000 in November 2024 to a peak of $101,000 by early February 2025. However, following US President Donald Trump’s tariff announcements, risk-on assets – including BTC -have experienced a significant pullback. Related Reading After hitting a potential local bottom of $74,508 earlier this month on April 6, the apex cryptocurrency has recovered some of its recent losses. The top digital asset is trading in the mid $80,000 range at the time of writing. Despite this recovery, BTC’s futures sentiment has continued to decline since February. Even as the price holds near local highs, sentiment in the futures market has notably cooled. CryptoQuant contributor abramchart highlighted this divergence, noting that it could indicate increasing caution or profit-taking behavior despite the ongoing bullish trend. The analyst commented: This indicates a cooling interest or increased fear in the futures market, possibly due to macroeconomic uncertainty, regulatory concerns, or expected corrections. A look at the BTC futures sentiment index shows a resistance zone around 0.8 and a support level near 0.2. The index is currently hovering around 0.4, pointing to a predominantly bearish sentiment across futures markets. The BTC Futures Sentiment Index currently hovers around 0.4 | Source: CryptoQuant Similarly, Bitcoin’s average price has steadily declined from its early 2025 highs. It is now ranging between $70,000 and $80,000, signalling possible market indecision amid heightened tariff tensions. According to abramchart, if futures sentiment remains low, BTC could face extended price consolidation or even downward pressure in the near term. However, any emerging bullish catalyst could quickly shift the sentiment and renew upward momentum. Is BTC Close To A Momentum Shift? Some analysts believe Bitcoin may be nearing a breakout. After consolidating in the mid-$80,000s for several weeks, on-chain metrics suggest BTC may be undervalued at current levels. Indicators such as BTC exchange reserves and the Stablecoin Supply Ratio support this view. Related Reading In addition, momentum indicators like Bitcoin’s weekly Relative Strength Index have begun to break out of a long-standing downward trendline – raising hopes for a potential bullish rally back toward $100,000. However, several risks still remain. The recent appearance of a ‘death cross’ on BTC’s price chart – combined with persistent macroeconomic concerns related to trade tariffs – could still weigh heavily on market sentiment. At press time, BTC trades at $83,917, down 1.8% over the past 24 hours. BTC trades at $83,917 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, Charts from CryptoQuant and TradingView.com
Bitcoin Weekly RSI Breakout Signals Trend Shift – Is $100,000 Next For BTC?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. After weeks of downward price action, Bitcoin (BTC) is finally showing signs of a bullish reversal. The leading cryptocurrency’s weekly Relative Strength Index (RSI) has recently broken its trendline, fueling optimism for a potential major breakout. Bitcoin Weekly RSI Turns Bullish Bitcoin has struggled under the weight of escalating global tariff wars, with the flagship digital asset losing more than 10% over the past three months. However, it appears to have found some stability in the low $80,000 range after dipping as low as $74,508 on April 6. Related Reading In an X post published earlier today, crypto analyst Titan of Crypto suggested that BTC may be on the cusp of a “major breakout.” The analyst highlighted BTC’s weekly RSI breaking above its long-standing trendline – a technical development that often precedes significant momentum shifts in price action. For the uninitiated, BTC’s weekly RSI is a momentum indicator that measures the speed and change of the digital asset’s price movements over a one-week timeframe. It helps identify whether BTC is overbought – typically above 70 – or oversold – typically below 30 – signaling potential trend reversals or continuations. In the chart shared by Titan of Crypto, BTC’s weekly RSI can be seen breaking a downtrend for the third time since September 2024. Interestingly, the previous two breakouts in weekly RSI were followed by major rallies that pushed Bitcoin’s price significantly higher in the weeks that followed. Source: Titan of Crypto on X Using a price fractal pattern – highlighted in yellow – Titan of Crypto suggested that if BTC mirrors previous price behavior following RSI breakouts, it could climb to as high as $130,000. Such a move would mark a new all-time high (ATH) for the asset and signal renewed market enthusiasm. Similarly, fellow crypto analyst RookieXBT pointed out that BTC is currently trading inside a falling wedge pattern on the 12-hour chart. Falling wedge formations typically resolve to the upside, and RookieXBT suggests that a breakout could drive BTC’s price to around $140,575. Source: RookieXBT on X BTC Could Be Showing A False Bullish Momentum However, not all analysts share the same bullish outlook. Seasoned crypto analyst Ali Martinez offered a contrasting view, warning that BTC may be forming a rising wedge pattern – a bearish technical signal that could lead to downside pressure. If this pattern plays out, Martinez believes BTC could fall back to the critical support level at $79,000. Source: ali_charts on X In addition to chart patterns, macroeconomic tensions continue to loom large. The ongoing tariff disputes are putting pressure on risk assets, including BTC. Related Reading Adding to the concerns, Bitcoin recently formed a “death cross” – a bearish technical signal where the 50-day moving average crosses below the 200-day moving average – which may result in further losses. At press time, BTC trades at $85,577, up 1.9% in the past 24 hours. BTC trades at $85,577 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, charts from X and TradingView.com
XRP, SOL, ADA Price Prediction: Ripple, Cardano, Solana Bulls Eye Recovery in Short Term
XRP, Cardano (ADA), and Solana (SOL) tokens are exhibiting technical strength in a signal of potential short-term price recoveries, data indicates. Bullish patterns—XRP’s $2.00 breakout, ADA’s double bottom at $0.55, and SOL’s rally to above $130—suggest accumulation phases despite broader market volatility. However, a bitcoin drop below $80,000 or intensified macro pressures could limit gains. Alex Kuptsikevich, the FxPro chief market analyst, said in a note to CoinDesk that traders must await confirmation of a bitcoin trend reversal before long-term dip buying on major tokens. “Bitcoin has yet to confirm a growth reversal,” Kuptsikevich said. “The key area along the way is the $85,000 level, where the 50-day moving average passes. Its overcoming will be an important confirmation of the bullish sentiment, while fluctuations below it will remain market noise.” “XRP found support last week on the decline to the 200-day moving averages. This small but encouraging signal suggests that market participants are still adhering to a ‘buy on dips’ strategy, believing in the continuation of the bullish trend,” he added. Here are technical analysis highlights for XRP, ADA and SOL, based on CoinDesk data: XRP: $2.00 support signals bullish momentum XRP surged 11% from $1.87 to $2.07 in the past week, breaking a psychological $2.00 barrier earlier Monday. Recent price action shows a higher low at $2.065, recovering to $2.068, with decreasing volatility indicating accumulation. Technical Outlook: Support: $2.00-$2.065, reinforced by the 50-hour moving average at $2.03. Resistance: $2.10, with $2.15-$2.20 possible on a break. Indicators: Volume surges during breakouts, and a higher low structure confirms buying interest. RSI near 60 suggests room for upside without overbought risks. Short-Term Target: If $2.00 holds, bulls may want to watch $2.10-$2.15, with a break below risking $1.99. Solana: Ascending channel eyes $125.50 Solana rallied 3% from a low of $125 to nearly $134 in early European hours Monday, part of a 30% climb from $101.30 to $125.48 in the past week driven by ETF approval optimism (76% odds on Polymarket). Support around the $120 mark remains firm, with recent consolidation between $124.50-$125.30 testing $125.50 resistance. Technical Outlook: Support: $120-$124, with $115 as a deeper base. Resistance: $130-$135, with $145 in sight on a breakout. Indicators: Increasing volume and tightening Bollinger Bands hint at an explosive move. MACD’s bullish divergence supports gains. Short-Term Target: Clearing $135 could push SOL to $140 and above. A drop below $120 risks $105, but the channel favors bulls. Cardano: Double bottom drives rebound ADA rebounded 18.6% from $0.537 to $0.637 in the past week, forming a double bottom at $0.55 with strong volume on April 9th. Despite bitcoin’s 15% weekly decline and trade tensions (China’s 34% U.S. import tariffs), ADA’s consolidation above 60 cents (now support) signals strength. With the ascending channel with support at 63 cents, bulls can now target at least 70 cents. Technical Outlook: Support: $0.632-$0.636, backed by the 50-minute moving average at $0.636 as of Monday. Resistance: $0.641, with Fibonacci extensions at $0.645-$0.658. Indicators: Healthy volume and declining volatility suggest accumulation. Stochastic RSI shows building momentum. Short-Term Target: A break below 63 cents risks 55-59 cents, but the double bottom supports the upside. Read more: Bitcoin Faces ‘Cloud Resistance’ at $85K, Neutralizes Risk-Reward for Bulls: Godbole
XRP Surges 13.7% as Rare Bullish Cross Signals Potential Rally
XRP’s Bullish Momentum Shows No Signs of Slowing XRP continues its impressive upward trajectory, demonstrating remarkable strength with consistently higher lows and higher highs. The recent price action shows resilience, with buyers stepping in at every dip, particularly during the April 12th surge when XRP broke above $2.07 resistance with 240M in trading volume. Market experts are increasingly optimistic about XRP’s future, with some projecting targets between $10-$20 in the coming months. The technical setup appears particularly compelling, with XRP currently trading within an ascending triangle pattern that could trigger a move toward $2.40 if the $2.22 resistance is breached, according to CoinDesk Research’s technical analysis data. This comes as the XRP/BTC chart shows a bullish crossover that preceded a 958% rally in 2017.With XRP now trading around $2.00 and showing signs of continued momentum, traders are closely watching key resistance levels. The broader market recovery provides additional tailwinds for potential further gains. Technical analysis highlights XRP has demonstrated remarkable strength, climbing from $1.93 to $2.24 (a 13.7% range) over the range of the analyzed period. The price action formed a clear uptrend with higher lows and higher highs, establishing strong support at $2.08. Volume significantly increased during key breakouts, particularly during the April 12th surge when XRP broke above $2.07 resistance with 240M volume. The 48-hour Fibonacci extension suggests potential targets at $2.28 and $2.35. The current consolidation between $2.13-$2.16 appears to be forming a bull flag pattern. Recent price action shows resilience, with buyers consistently stepping in at dips, indicating sustained bullish sentiment. In the last 100 minutes, XRP continued its bullish momentum with a notable 0.77% gain from $2.143 to $2.160. A significant breakout occurred at 10:42 when the price surged through $2.153 resistance with elevated volume. The price action has formed an ascending channel with support at $2.148 and resistance at $2.160. Volume spikes during upward movements confirm buyer conviction, particularly during the 11:07 and 11:31 surges when volume exceeded 1.4M and 2.2M, respectively. XRP surges 13.7% from $1.93 to $2.24, establishing strong support at $2.08 with significant volume backing key breakouts. Technical analysis shows XRP forming a bull flag pattern with potential targets at $2.28 and $2.35 based on Fibonacci extensions. Crypto analyst EGRAG CRYPTO identifies a rare bullish cross between the 55-week EMA and 155-week MA, suggesting potential for massive price growth similar to the 958% rally following the same signal in 2017. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable. External References: Times Tabloid, “XRP Chart Signals Parabolic Surge Toward $70 This Timeline,” published April 12, 2025. Times Tabloid, “XRP Price Prediction For April 11, 2025,” published April 11, 2025. Times Tabloid, “XRP Price Prediction For April 13, 2025,” published April 13, 2025. NewsBTC, “XRP Targets $19 Or $45 In Possible Blow-Off Top, Analyst Predicts,” published April 13, 2025. Coinpedia, “XRP Price Next Targets, Elliot Wave Analysis and More,” published April 12, 2025.
BTC Price Forecast: Bitcoin Faces ‘Cloud Resistance’ at $85K, Neutralizes Risk Reward for Bulls
In markets, securing the best entry point is often half the battle, as timing and level significantly influence success by skewing the risk-reward ratio in traders’ favour. While bitcoin’s (BTC) near-term outlook may appear constructive with increased demand for bullish bets in the options market, the cryptocurrency’s proximity to key resistance that capped the upside in recent months means the risk-reward profile for those looking to capitalize on the bullish prospects is less favourable. Since Saturday, BTC has been pushing against the lower boundary of the Ichimoku cloud at around $85K. Developed by a Japanese journalist in the 1960s, the Ichimoku cloud is a technical analysis indicator that offers a comprehensive view of market momentum, support, and resistance levels. The indicator comprises five lines: Leading Span A, Leading Span B, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-Sen (K) and a lagging closing price line. The difference between Leading Span A and B forms the Ichimoku Cloud, with its upper and lower boundaries serving as potential support and resistance levels based on the price’s position relative to the cloud. When prices are above the cloud, it indicates a bullish trend, while prices below suggest a bearish trend. In early February, BTC fell below $100K, trading beneath the Ichimoku Cloud. Since then, the lower boundary of the cloud has functioned as a strong resistance and supply zone, limiting recovery rallies. As BTC trades near this level again, bulls, especially those looking to hit the market with fresh bids, might want to be cautious, as the immediate upside may be restricted by cloud resistance around $85K, while support lies below $75K, that is nearly $10K lower from the going market rate. The situation equates to an unfavourable risk-reward for longs. BTC’s daily chart with Ichimoku cloud. (TradingView/CoinDesk) The rejection at the Ichimoku Cloud on April 2 resulted in a substantial sell-off, pushing BTC below $75K, mirroring a similar pattern that followed the February 21 rejection. Thus, the latest interaction with cloud resistance warrants close monitoring for the potential return of selling pressure. A downturn from this resistance level would shift attention back to the $75K mark. On the contrary, a potential move beyond $90K, marking a breakout above the cloud, would signal a resumption of the broader bull run and a rally to record highs.
Bitcoin Breaks Out: Chart Pattern Targets $96,200 To $102,100 As Next Big Test Zone
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin has broken out of a technical formation that may place it on track toward a decisive test zone between $96,200 and $102,100. If confirmed in the coming days, the movement would represent a major price development in Bitcoin’s ongoing market structure. A crypto analyst highlighted this zone as one where Bitcoin’s trajectory could either extend to new highs or face its next rejection. Related Reading Descending Broadening Wedge Breakout Clears Path To $100,000 Again Bitcoin’s price action in the past 24 hours is highlighted by a return to $85,000 as buying pressure started to creep in. Interestingly, this buying pressure has broken out above the upper trendline of a descending broadening wedge formation. This pattern is typically considered a reversal signal, and its breakout implies strong upward continuation if validated. The breakout of the formation was noted in an analysis posted on social media platform X by crypto analyst Titan of Crypto. Notably, the price chart shared by the analyst shows that the wedge formation has been taking place in the daily candlestick timeframe over the past three months. The wedge began forming after Bitcoin’s peak above $108,000 in late January and gradually widened. At the time of the analysis, Bitcoin’s price had already made two daily candlestick closes above the upper trendline of the broadening wedge. According to the analyst, the breakout will most likely be confirmed this week. If confirmed, this will open up the stage for a run above the $100,000 price level again or at least $96,200. Particularly, Titan of Crypto highlighted the region between $96,200 and $102,100 as the next target zone. The analyst emphasized that this range may act as the actual test of Bitcoin’s strength, as it will reveal whether the breakout leads to continuation or stalls into rejection. Image From X: Titan of Crypto Leverage Build-Up Points To $8 Billion Short Squeeze Potential Above $90,000 Crypto analyst Sensei also commented on Bitcoin’s current price structure, noting that a move to $90,000 could trigger a massive liquidation event. Based on data from Coinglass, more than $8 billion in short positions would be vulnerable if Bitcoin rose above $90,000 again. BTC is now trading at $84,706. Chart: TradingView The cumulative short liquidation chart from Coinglass shows a large wall of leveraged short interest concentrated below that level across major exchanges like Binance, OKX, and Bybit. Image From X: Sensei Related Reading The data reflects a significant imbalance in the derivatives market, with short positions dominating until the $90,000 mark, beyond which liquidation-driven buying could intensify. If Bitcoin does push into this zone, the resulting cascade of liquidations among short positions may provide the momentum required to push the Bitcoin price toward the $96,200 to $102,100 target zone. At the time of writing, Bitcoin was trading at $84,706. Featured image from Freepik, chart from TradingView
Expert Analyst Warns Bitcoin/VIX Is Not Bullish: Bear Market Signals
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Technical expert Tony Severino has warned that the Bitcoin/VIX is not as bullish as market participants might believe. Instead, the expert revealed that the current indicators point to the flagship crypto being in a bear market. Bitcoin/VIX Points To A Bear Market: Analyst In an X post, Severino warned that the Bitcoin/VIX isn’t bullish as some crypto influencers might paint it out to be. He remarked that the technical analysis of it suggests that the current signals are what market participants tend to see during Bitcoin bear markets. However, the expert noted that the month isn’t over yet, which suggests that these indicators could still turn bullish. Severino previously highlighted several reasons why he is no longer bullish on Bitcoin and other crypto assets. Back then, he alluded to BTC’s chart, which, based on the Elliott Wave theory and other technical indicators, showed that the flagship crypto has likely topped in this market cycle. Amid Severino’s warning, crypto analysts like Saeed have offered a more bullish outlook for Bitcoin. Saeed stated that this correction is simply a healthy retracement and that the flagship crypto’s broader trend is still bullish. The analyst highlighted $85,000 as the level Bitcoin needs to break above to reach new highs. BTC is now trading at $84,688. Chart: TradingView The macro side also looks to be bullish for Bitcoin at the moment. The latest CPI and PPI inflation data, which were released, came in lower than expectations, raising hopes of a Federal Reserve rate cut soon. According to a recent report, Boston Fed President Susan Collins also assured that the US central bank is ready to help stabilize the market if necessary. With US President Donald Trump’s tariffs persisting, the US Fed might have to step in soon, which is bullish for Bitcoin and other crypto assets, as more liquidity will flow into them. Bullish Technical Analysis For BTC In a recent X post, crypto analyst Titan of Crypto revealed that Bitcoin is forming an inverse Head-and-Shoulders pattern, although it still looks like a clean retest for now. He remarked that if this pattern plays out, the flagship crypto could reach $125,000 this year, marking a new all-time high (ATH). Meanwhile, crypto analyst Rekt Capital revealed that Bitcoin is developing another Higher Low on the Relative Strength Index (RSI) while forming Lower Lows on the price. He noted that throughout the cycle, BTC has formed bullish divergences like this on a few occasions. This is a positive for the flagship crypto, as each divergence has always preceded reversals to the upside, indicating that BTC could again rally to the upside soon. Related Reading At the time of writing, Bitcoin price is trading at around $83,400, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pexels, chart from TradingView
Dogecoin (DOGE) Surges 21% Amid Crypto Comeback, Holds Key Support at $0.142
Global economic uncertainties and escalating trade tensions are creating ripple effects throughout cryptocurrency markets, with Dogecoin demonstrating remarkable resilience amid the turbulence. After experiencing a sharp 21.2% correction that saw prices tumble from $0.165 to $0.130, DOGE has staged a significant recovery, while the broader crypto market staged a comeback as the CoinDesk 20 Index rose 9% in the last 24 hours. It established strong support around the $0.142-$0.145 zone with substantial buying volume, confirming the rebound’s legitimacy. Technical Analysis Breakdown DOGE/USD experienced extreme volatility, dropping from $0.165 to $0.130 (21.2% range) before staging a significant recovery. A strong bullish reversal pattern formed with solid support established in the $0.142-$0.145 zone, according to CoinDesk Research’s technical analysis model. Volume analysis confirms recovery legitimacy, with peak accumulation during the April 9th rally pushing prices above the critical $0.160 resistance. Price currently consolidating at the 61.8% Fibonacci retracement level with horizontal support at $0.155. In recent trading, DOGE formed a clear ascending channel with support at $0.155 and resistance at $0.156. Significant accumulation occurred during the 11:32 period with 7 million units of volume, confirming buyer interest. 30 minutes of trading during early U.S. hours showed increasing momentum with consecutive higher lows and a breakthrough above the $0.156 resistance. The pattern suggests a potential continuation of the uptrend toward the previous 48-hour high of $0.165. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable. External References: Times Tabloid, “Dogecoin (DOGE) Price Analysis: Indicators Point to Potential Bullish Reversal,” published April 8, 2025. The Crypto Basic, “Analyst Shares Realistic Dogecoin Targets Highlighting Critical Support and Resistance Levels,” published April 8, 2025. CoinGape, “Analyst Forecasts Over 59% Dogecoin Price Crash Coming Soon, Here’s Why,” published April 8, 2025.CoinGape NewsBTC, “Dogecoin Fading Fervor: Has The Meme Coin Lost Its Mojo?” published April 7, 2025. Bitzo, “Bitcoin, Solana, and Dogecoin in Freefall Amid Massive Sell-off – Is the End Near?” published April 8, 2025
BTC, XRP, DOGE Technical Analysis: Bitcoin Eyes $87K After Double Bottom Breakout, Dogecoin, XRP Bulls Look to Establish Control
The news cycle has turned chaotic for crypto traders, courtesy of President Donald Trump’s back-and-forth tariffs announcement. In such situations, traders tend to ignore the noise and follow the tape – monitor the price chart, identify the path of least resistance and follow the same. In case of bitcoin (BTC), the tape has turned bullish, with short-duration price charts flashing a pattern opposite of the one that characterized the January-February price peak above $109K. We are talking about the double bottom pattern comprising two consecutive troughs with lows at about the same price, representing downtrend exhaustion, and a trendline drawn through the high point between the two troughs. A move above the trendline, also called the neckline, confirms a breakout and a bullish shift in the market trend. BTC put in a double bottom at around $74,600 between April 7 and April 9, separated by a temporary recovery (high point) to nearly $80,800. On Wednesday, prices rose past that neckline level, confirming the double-bottom breakout. Technical analysis theory suggests adding the gap between troughs and the neckline to the breakout point to gauge the potential upside move, which suggests scope for a BTC price rally to $87,000. As of writing, bitcoin changed hands at $82,000. Bitcoin hourly and daily chart (TradingView/CoinDesk) Supporting the bull case is the appearance of a “bullish outside day” candle on the daily chart, suggesting a trend reversal higher. The candle gets its name from its distinctive shape, featuring a green body and wicks that entirely engulf the negative price action of the preceding day. This pattern indicates a strong effort by buyers to reassert control, reflecting renewed bullish sentiment in the market. These bullish signals risk invalidation in case of a renewed move below $75,000. XRP, DOGE recovery may have legs Payments-focused cryptocurrency XRP and the leading memecoin by market value, DOGE, surged by 14.3% and 12.7% on Wednesday, respectively, as a renewed uptick in BTC encouraged risk-taking across the broader crypto market. Both cryptocurrencies formed bullish outside day candles, signaling the bulls’ efforts to regain market control after an extended sell-off. The pattern suggests potential for continued gains in the short-term. XRP and DOGE chart (TradingView/CoinDesk)
Ethereum May Be Headed To $1,200 – Can ETH Make A Comeback? Analysts Explain
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Ethereum (ETH) has plunged 30% over the past two weeks, reflecting broader weakness across the crypto market as the global economy reels from escalating tariff wars. Crypto analyst Ali Martinez warns that ETH could fall even further in the near term, potentially testing the $1,200 level. More Pain For Ethereum, But A Recovery Is Possible Ethereum continues to struggle amid global economic pressures. The world’s second-largest cryptocurrency by market cap has dropped another 8.3% in the past 24 hours and is currently trading in the mid-$1,000 range. Related Reading Commenting on the recent price action, seasoned analyst Martinez highlighted that ETH could find key support at the $1,200 mark. He shared the following daily chart of ETH, showing how the digital asset has broken through multiple support levels since December 2024, when it was trading near $4,000. ETH may be heading to $1,200 after breaking through multiple support levels | Source: ali_charts on X Meanwhile, renowned analyst Carl Moon noted that ETH is currently trading below its realized price of $2,000. He pointed out that the last time this occurred – back in March 2020 at the height of the COVID-19 pandemic – ETH had dropped from $289 to $109. Source: Carl Moon on X On a more optimistic note, Moon added that ETH recovered swiftly after that steep decline. Based on historical trends, the current price level could present a potential buying opportunity for long-term investors. For those unfamiliar, the realized price for accumulation addresses – as shown in the above CryptoRank chart – represents the average price at which long-term holders acquired ETH. This metric has historically acted as a strong support zone. Is ETH About To Surprise The Market? With market sentiment approaching historical lows, confidence in ETH appears to be dwindling. The Ethereum Fear & Greed Index currently sits at 20, indicating “extreme fear” among investors. Related Reading Despite the bearish mood, some on-chain metrics and historical patterns suggest ETH could be on the verge of a strong bullish reversal – potentially catching investors off guard. For example, crypto analyst Mister Crypto recently drew a comparison between ETH’s current price action and that from 2020, suggesting that Ethereum could embark on a price rally by Q2 2025. Similarly, Ethereum’s Market Value to Realized Value (MVRV) Z-score hints that ETH may be undervalued at current price. The last time it was this undervalued – in October 2023 – it witnessed a sharp rally of 160%. That said, not all indicators are bullish. Rising ETH exchange reserves continue to raise concerns about potential sell pressure from holders. At press time, ETH is trading at $1,457, down 8.3% over the past 24 hours. ETH trades at $1,457 on the daily chart | Source: ETHUSDT on TradingView.com Featured image from Unsplash, charts from X and Tradingview.com
Bitcoin Flashes ‘Death Cross’ Amid Tariff-Induced Market Turmoil – Is Further Decline Inevitable?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The global equity and cryptocurrency markets experienced significant downturns earlier today, as US President Donald Trump’s country-specific reciprocal tariffs are set to take effect on April 9. The leading cryptocurrency, Bitcoin (BTC), has declined by more than 7% in the past 24 hours, and analysts predict further near-term challenges for the digital asset. US Tariffs Lead To Crypto Market Rout Notably, Trump’s baseline 10% tariffs on all countries went into effect on April 5, while the higher, country-specific reciprocal tariffs are scheduled to commence on April 9. These developments have raised fears of a global recession and widespread job losses. Related Reading The digital assets market has felt the impact of these tariffs, with BTC slipping over 7% in the past 24 hours – from approximately $82,300 on April 6, to a low of around $74,500 earlier today. Altcoins such as Ethereum (ETH), Solana (SOL), and XRP have experienced even greater declines, tumbling by 17.2%, 16%, and 15.8% respectively over the past 24 hours. Similarly, the total crypto market capitalization has shed almost $130 billion during the same period. Commenting on BTC’s price action amid the market turmoil, seasoned crypto analyst Ali Martinez highlighted that there may be more challenges ahead for the leading digital asset, as it has flashed the infamous death cross on the daily chart, indicating the potential for further price pullbacks. Source: ali_charts on X For the uninitiated, a death cross is a bearish technical signal that appears when the 50-day moving average (MA) drops below the 200-day MA. It often suggests a potential downtrend or increased selling pressure in the market. Similarly, veteran trader Peter Brandt shared the following chart, showing BTC trading in a symmetrical triangle pattern, with a wedge retest located at $81,024. The trader hinted that BTC may follow a drop to the 50% retracement level of $54,000. Source: Peter Brandt on X To elaborate, a symmetrical triangle pattern in trading is a chart formation where the price consolidates with converging trend lines connecting a series of lower highs and higher lows, indicating a period of indecision before a potential breakout in either direction. Similarly, a wedge retest refers to the price action where, after breaking out from a wedge pattern – a formation with converging trend lines – the price returns to test the breakout level before continuing in the breakout direction. An Opportunity To Stack Bitcoin? While heightened fears surrounding further price declines in BTC have unsettled investors and traders alike, some risk-seeking investors view this as an opportunity to accumulate more BTC at lower prices. Related Reading For instance, CryptoQuant analyst BorisVest, in a recent analysis, emphasized that if BTC falls between $65,000 to $71,000, it could offer a favorable buying opportunity for investors with a decent risk-reward ratio. At press time, BTC trades at $76,678, down 7.5% in the past 24 hours. BTC trades at $76,678 on the daily chart | Source: BTCUSDT on TradingView.com Featured image created with Unsplash, charts from X and TradingView.com
Bitcoin Price On The Verge Of 15% Breakout As Analyst Spots This Formation
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin’s price is reaching a pivotal moment as it coils within a tightening triangle pattern that could soon resolve in a dramatic breakout. The ongoing consolidation around $80,000 to $85,000 is part of a classic technical setup that can cause strong directional moves in the market. Notably, this triangle pattern was shared in an analysis on social media platform X by crypto analyst Ali Martinez, where he advised traders to keep a close eye on Bitcoin’s next breakout move. Related Reading The current pattern hints at a possible 15% swing in either direction, and with Bitcoin now hovering around $83,000, the stakes are high. Triangle Pattern Forms As Bitcoin Compresses Between Lower Highs, Higher Lows Martinez’s highlight of a triangle formation examines Bitcoin’s price action since March 7, when it briefly crashed from $91,000 until it broke below $80,000. The ensuing recovery above $80,000 eventually led to the Bitcoin price creating a lower high at $87,000 before correcting again. Since then, Bitcoin’s price action has been highlighted by the formation of lower highs, higher lows, and an increasingly tightening range, all of which are classic parts of a triangle pattern formation. Bitcoin is currently trading right in the heart of this tightening range. The 4-hour timeframe chart shows the upper trendline of the triangle, which caps the price at nearly $86,000, while the lower trendline provides support at around $82,000. These levels have effectively boxed in Bitcoin’s price over the past few weeks, and any clean breakout beyond these boundaries could define the cryptocurrency’s direction in the near term. Image From X: @ali_charts Analyst Predicts 15% Move, Warns Traders To Watch Closely Martinez’s analysis points to a significant price shift once Bitcoin breaks out of the triangle. “#Bitcoin $BTC is consolidating within a triangle pattern, setting the stage for a potential 15% move. Watch closely for a breakout!” he wrote on X. The warning carries weight, especially for short-term traders and those managing leveraged positions. BTC is now trading at $83,007. Chart: TradingView If Bitcoin breaks above the $86,000 resistance line, it could spark a rally toward $90,000 or higher and usher in a renewed wave of bullish momentum. On the other side, a break below the $82,000 support could lead to a quick drop toward the $70,000 level, a scenario that would deal a harsh blow to bullish market sentiment and delay the hopes for predictions of new all-time highs. Related Reading Although a downward move to $70,000 would be brutal, its possibility cannot be ruled out, with the bull score currently at a low level of 10. Most investors are positioning for a bullish outcome and a return above $100,000, but analysis of buy zones shows that Bitcoin must break past $85,470 and $92,950 convincingly before this can happen. At the time of writing, Bitcoin was trading at $83,070. Featured image from Fortune, chart from TradingView