Most of the altcoins are trying hard to make a strong comeback after the latest pullback from their respective local highs. Meanwhile, the Dogecoin price continues to maintain a strong descending trend after the rejection from the local resistance zone close to $0.2. While Bitcoin & Ethereum prices are closely consolidating within a narrow range, aiming to trigger a rebound above the bearish range, DOGE price seems to be losing its grip over the rally. The token is about to erase the gains incurred in the past 30 days, which hints towards the resurgence of a fresh bearish trend.
This raises concerns about whether Dogecoin has a future. Will the cost of 1 Dogecoin reach $0.5 in 2025?
The DOGE price is maintaining a horizontal trade without displaying any strong possibility of a trend reversal. As a result, enough liquidity is accumulated on either side, which suggests the token has entered a decisive phase.
The DOGE price has triggered a rebound before reaching the liquidating zone around $0.164, where the liquidation leverage has surpassed $500 million. Therefore, to reclaim the higher levels, the price is required to liquidate the leverage within this range by plunging below the range. This could squeeze out all the shorts, enabling a significant rebound and a continued upswing. Still, the question remains: Will this help the DOGE price reach $0.2?
The short-term price action of DOGE suggests the price is experiencing tremendous upward pressure after failing to hold above the ascending trend line. The conversion line of the Ichimoku cloud is acting as a strong resistance, without displaying any chance of a bullish crossover. On the other hand, the Stochastic RSI faced a pullback after testing the average range, hinting at the growing dominance of the bears.
Therefore, the Dogecoin (DOGE) price is expected to test the local support at $0.162, which is below the liquidation level at $0.164. This move is expected to cause a short liquidation and trigger a strong upswing towards higher targets, probably at $0.18 initially and later at $0.2.
The US job data by the Labor Department showed that the nonfarm payrolls increased by 177,000, down from 228,000 recorded in the prior month. However, it still comes in hotter than Wall Street expectations, putting pressure on investors’ hopes for riskier assets like Bitcoin and altcoins. Notably, the unemployment rate stayed steady at 4.2%, with the overall market now eying what the Fed’s move will be with their rate cut plans.
US Job Data Weighs On Crypto Market Sentiment
The latest Labor Department report showed that the US nonfarm payrolls came in at 177,000 in April, up from the market expectations of 133,000. However, it marks a sharp decline from the robust 228,000 figure recorded in March.
On the other hand, the unemployment rate remained unchanged at 4.2% from the prior month and came in tandem with Wall Street expectations. This latest US job data indicates that the ongoing macroeconomic pressure, like the US-China trade war and other factors, has weighed on the economy.
Despite that, this hotter-than-expected job data could be a bearish sign for Bitcoin and altcoins. Now, the market eagerly awaits cues from the central bank ahead, especially as Donald Trump also warned of a slowing economy if the central bank doesn’t go for a rate cut decision.
Bitcoin Rally To Stall?
BTC price today has continued to move upward, soaring past the $97K mark again just after the US job data. Interestingly, investors seem to view the jobs report as a modest positive, as the payroll growth, although above expectations, shows a slowdown from the previous month’s strong numbers.
Furthermore, it is also evidenced by the US Dollar Index Futures going down by 0.42% to $99.635 following the release. However, the US 10-year Bond Yield rose more than 1.3% at the same time. Talking about the Fed rate cut plans, it appears that the central bank will keep the interest rate unchanged at their upcoming meeting next week, the CME FedWatch Tool showed.
Source: CME FedWatch Tool
However, the recent on-chain metrics and market trends hint that Bitcoin may continue to move upward in the coming days. For context, the US Bitcoin ETF has continued to see inflows, after a brief pause till mid-April, indicating a renewed investors’ confidence.
Meanwhile, investors should still exercise caution, given the ongoing market uncertainties and Trump tariff tension. Besides, it is also to be seen if BTC could hold the bullish momentum ahead, with major events awaiting in the coming week.
Solana (SOL) price tumbles as Bitcoin and SUI steal the show this week
Solana (SOL) price fell short of investor expectations this week as capital inflows favored market leaders Bitcoin and emerging altcoins like SUI.
The global crypto market trended bullish on Friday, with Bitcoin price gaining 0.3% on Friday and 2.1% over seven days.
Meanwhile, Solana slipped 1.7% on the day and a steeper 1.9% over the week.
Top 10 Cryptocurrencies Performance, May 2, 2025 | Source: Coingecko
The figures suggest a noticeable exit of short-term traders from SOL, as they rotated funds into assets with stronger short-term narratives.
A major catalyst driving Bitcoin’s rise continues to be institutional accumulation, with spot Bitcoin ETFs posting record-breaking inflows.
Meanwhile, SUI surged following news that 21Shares filed for a spot ETF with the U.S. SEC. SUI spiked to $3.71 on Thursday before correcting to $3.40 at press time, still up nearly 60% in the past two weeks.
This stark contrast reflects a pattern of selective capital rotation among traders seeking profitable opportunities within short-term market narratives.
SOL price fell below $150 on Friday, flipping negative on the weekly candle and highlighting a lack of short-term bullish conviction.
Solana investor Eric Trump warns banks to adopt crypto within 10 years
Adding to Solana’s long-term narrative, Eric Trump, a known investor in Bitcoin, Ethereum, Solana, and SUI, made headlines this week with a stark warning to traditional financial institutions.
In an interview with CNBC, Trump cautioned that banks risk extinction within a decade if they fail to integrate cryptocurrency infrastructure into their core operations.
Systems like SWIFT are a disaster. The traditional banking system is slow and inefficient.
Right now, you can open a cryptocurrency app and transfer money from wallet to wallet instantly, without any bank fees.
I’m telling you if banks don’t realise what’s coming they will be gone in 10 years – Eric Trump, May 2025
Trump remarked, criticizing the inefficiency and cost of the existing financial system.
He argued that decentralized finance (DeFi), enabled by blockchain platforms like Ethereum and Solana, presents a far superior alternative in speed, accessibility, and cost-effectiveness.
The timing of Eric Trump’s statements is crucial, with Congress fast-tracking Stablecoin regulations and SEC dropping charges on crypto trading platform, an Arizona state passing a bill to launch the first cryptocurrencies strategic reserve. and institutional adoption deepens, tokens like Solana could see renewed long-term demand.
This long-term bullish outlook as seen Solana bulls speculate on a potential rally toward the $750 mark if market conditions align.
While this ambitious Solana price forecast remains plausible, technical indicators SOLUSD daily chart shows highlights key hurdles ahead around the $160 mark.
Solana Price Forecast Today: Bulls Target $156 If Support Holds Above $142
Solana (SOL) is trading at $147.98 after a modest 1.9% decline, but the broader technical setup continues to favor a bullish continuation. The price remains comfortably above the midline of the Bollinger Bands, suggesting that recent consolidation may be a temporary pause rather than a reversal.
The Parabolic SAR indicators, positioned below current price levels since mid-April, continue to signal a sustained uptrend, despite Thursday’s slight retracement.
Solana Price Forecast Today
SOL price forecast today leans cautiously optimistic, supported by underlying momentum shown in the Bull Bear Power (BBP) oscillator, which remains positive at 8.13. This indicates that bulls still hold the short-term advantage.
The daily close remains above the 20-day moving average near $142 and well above the lower Bollinger Band at $124.77, reinforcing the view that key support zones are intact.
The resistance zone around $156, marked by the upper Bollinger Band and previous local highs, represents the next test for buyers. If bullish volume resumes and price action closes decisively above $150, a retest of $156 appears likely. A failure to hold $142, however, could expose downside risk toward $135.
As we enter Q2 of 2025, the global crypto market finds itself steering a complex intersection of macroeconomic and geopolitical pressures.
BeInCrypto spoke with analysts Leena ElDeeb of 21Shares and Max Shannon of CoinShares, who offer distinct but insightful perspectives on the crypto space’s outlook for the new quarter.
Bitcoin’s Future: Bullish or Bearish?
The two analysts share a bullish outlook on Bitcoin, albeit with differing views on its short-term fluctuations. Leena ElDeeb sees the potential for Bitcoin to surpass $90,000, driven by macroeconomic factors such as a possible rate cut by the US Federal Reserve.
“February’s softer-than-expected CPI print boosted rate cut expectations. If rate cuts materialize, a wave of liquidity could reignite bullish momentum, pushing equities and Bitcoin past key resistance levels,” she told BeInCrypto.
In her view, Bitcoin could eventually hit a range between $150,000 and $200,000 by the year’s end, bolstered by growing regulatory clarity and political support, such as President Trump’s proposal for a strategic crypto reserve.
Max Shannon, on the other hand, remains more cautious about Bitcoin’s immediate future. He predicts that Bitcoin will continue to trade within a wide range of $70,000 to $90,000 in Q2, constrained by persistent tariff issues.
“The moment they [tariffs] get lifted will likely be a massive boon for the equities and crypto market,” he notes, indicating that a resolution could pave the way for Bitcoin’s next big move.
Both analysts acknowledge Ethereum’s struggles, particularly its nearly 40% drop in Q1. However, they also highlight key developments that could support a recovery in the next quarter.
ElDeeb points to Ethereum’s upcoming upgrade, the Pectra upgrade, which is expected to improve staking and network scalability.
“Ethereum’s staking is also about to be improved with the launch of Pectra. These changes are expected to boost the appeal of staking-enabled products,” she explained.
Additionally, she sees growing competition from other blockchain platforms like Solana and Sui, which are attracting retail users with faster and cheaper transactions. Despite this, ElDeeb remains optimistic about Ethereum’s long-term potential, particularly as scalability solutions begin to take effect.
Shannon is more skeptical of Ethereum’s future, specifically with its ongoing challenges in both the monetary and smart contract spaces.
“Ethereum is attempting to function both as a monetary asset, where it struggles to compete with Bitcoin, and as a smart contract platform, where it faces strong competition from Solana,” the CoinShares analyst stated.
Shannon also highlights Ethereum’s changing monetary policy and the increasing technical debt as concerns that could limit its growth in the short term.
The rise and fall of celebrity meme coins like TRUMP, MELANIA, and LIBRA were hot topics in Q1 2025. Both analysts agree that the hype around this category of tokens is unlikely to be sustained in the long run.
“The forthcoming cryptocurrency market rally is anticipated to be driven by significant advancements in decentralized finance (DeFi), particularly through innovative mechanisms that enhance token holder engagement,” she notes, citing Aave’s recent proposal to share revenue with AAVE token holders as a prime example of this trend.
On the flip side, Shannon suggests that the decline in meme coins and altcoins could be a sign of broader challenges in the altcoin market.
“The Melei controversy, pump.fun decline, and declining centralized and decentralized exchange volumes show altcoins could have a very hard time this year in my opinion,” he cautions.
As trading volumes continue to drop, Shannon forecasts that altcoins may continue to underperform.
“Even in a BTC bull run altcoins could underperform,” the analyst added.
The Road Ahead
Looking ahead to Q2 2025, both ElDeeb and Shannon anticipate continued market volatility. External macroeconomic conditions like US tariffs, interest rate decisions, and geopolitical factors will largely shape the market.
While ElDeeb maintains a generally optimistic view, predicting a recovery for both Bitcoin and Ethereum, Shannon advises caution, particularly with altcoins.
For investors, diversification remains key. ElDeeb emphasizes the value of Bitcoin’s fixed supply and decentralization, which have historically helped it recover from turbulent periods.
“We consider these market corrections as great market entry points,” she says.
Shannon, meanwhile, stressed the importance of caution in navigating the altcoin space. He added that Bitcoin could be the best bet for those seeking stability.
