Japan is planning to earmark $6.3 billion (900 billion yen) for US tariff relief amid escalating economic turmoil. This strategic allocation is likely to send shockwaves through both traditional and cryptocurrency markets. Reportedly, the government intends to tap into budget reserves and existing allocations, with a decision potentially coming as early as Tuesday. $6.3 Billion Boost: Japan to Ease US Tariff Tensions According to a Kyodo news report, the Japanese government intends to deploy about $6.3 billion in state funds for emergency relief to ease the effects of US tariffs. Prime Minister Shigeru Ishiba emphasized that the relief package aims to mitigate concerns that US tariffs could harm Japan’s exports and subsequently impact the broader economy. Warning that the increased US tariffs could adversely affect key Japanese industries, such as automobiles and steel, Ishiba called for the government to take all possible measures to mitigate their impact. The Prime Minister… Read More at Coingape.com
Ethereum price fell nearly 10% to $2,530 after rejecting the $2,800 resistance.
Analysts confirm significant whale buys, including a stockpile of 1 million ETH worth over $2.5 billion.
Ethereum shows the highest net flows compared to other blockchains, indicating strong fundamentals.
After the Ethereum price failed to break the $2,800 hurdle on Thursday, it dropped to $2530, at the time of writing, which shows a near 10% correction.
However, while retailers are panic-selling, whales are jumping in aggressively to accumulate. Prominent analysts and on-chain platforms are confirming ongoing whale buys.
Moreover, the Ethereum price forecast from top analysts remains strongly bullish, framing the current pullback as the perfect entry point for sidelined market participants. Also, experts highlight its fundamental strength, rising with ETH having the highest net flows compared to other blockchains. Keep reading to know more.
Whales Are Bullish On Ethereum Price
Since the Ethereum price rejected from the $2,800 resistance, which caused a retrace, it doesn’t show that ETH crypto has weakened yet.
However, it’s getting strengthened in the shadows as whales are doubling down on the second-largest top coin after BTC, which is boosting the possibility of an alt season coming.
Recently, Ali Martinez highlighted via his x post that the biggest smart whale on the ETH network has stockpiled 1 million ETH, worth over $2.5 billion, within just a 48-hour window.
Moreover, the Data from Lookonchain confirms Ali Martinez’s perspective. The post reveals that a whale withdrew 34,343 ETH from Aave, which amounts to nearly $89 million in the altcoin.
Meanwhile, another analyst, TedPillows, shows its number 1 spot at 3 months net flows that are $1,100,1000,000; experts suggest that ETH, in his opinion, is the number one crypto asset.
Moreover, adding to the optimism another analyst Trader Tardigrade also added that Ethereum is going to pump higher after the current consolidation ends.
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The post Ethereum Price Forecast: Pullback Sparks Bullish Sentiment and Whale Action appeared first on Coinpedia Fintech News
Story Highlights Ethereum price fell nearly 10% to $2,530 after rejecting the $2,800 resistance. Analysts confirm significant whale buys, including a stockpile of 1 million ETH worth over $2.5 billion. Ethereum shows the highest net flows compared to other blockchains, indicating strong fundamentals. After the Ethereum price failed to break the $2,800 hurdle on Thursday, …
Altcoins continue to shine not just on the top blockchains in the crypto space but even on the ones that are less well-known. One such is the Kaia network, which was noted to have a massive surge in users in April.
According to the data on Dune, the total monthly active users peaked at 22.63 million in April, with the addition of 8 million users. BeInCrypto has analyzed three of the top-performing altcoins on the Kaia Network for investors to watch heading into May.
Superwalk (GRND)
Launch Date – September 2022
Total Circulating Supply – 625.92 Million GRND
Maximum Supply – 1 Billion GRND
Fully Diluted Valuation (FDV) – $57.07 Million
GRND has risen by nearly 31% this month, but it is still short of recovering the losses from the end of March. The altcoin is currently trading above the critical support level of $0.0568, showing positive momentum. If GRND can maintain its position above this support, it could see further gains in the coming days.
Securing the $0.0568 support level is vital for GRND to continue its upward trajectory. The altcoin is aiming to breach the next resistance at $0.0627, which would help recover recent losses. Successfully surpassing this level would place GRND on track to reach $0.0696, a key target for future growth.
However, if GRND fails to hold above the $0.0568 support level, the bullish outlook could be at risk. A drop below this level would likely lead to a decline toward $0.0494, wiping out a significant portion of the recent gains. This would invalidate the current bullish thesis and signal a potential shift in market sentiment.
Kleva (KLEVA)
Launch Date – December 2022
Total Circulating Supply – 68.91 Million KLEVA
Maximum Supply – 95.34 Million KLEVA
Fully Diluted Valuation (FDV) – $5.75 Million
KLEVA has recently experienced both impressive and disappointing price action. The altcoin surged 119% at the beginning of last week, showing strong bullish momentum. However, in the last 48 hours, it has faced a 33% decline. This volatility reflects uncertainty in market sentiment, making the future direction unclear.
The recent drop has brought KLEVA down from $0.125 to $0.083, with the altcoin currently holding above the crucial $0.081 support level. If KLEVA manages to bounce off this support, it could attempt to recover by breaching the $0.092 resistance. Successfully surpassing this level would signal a potential rally.
However, if KLEVA fails to hold the $0.081 support, the bearish outlook could intensify. A drop below this level could lead to a decline toward $0.063, erasing much of the recent gains. This would invalidate the bullish thesis and raise concerns about a possible extended downtrend.
Marblex (MBX)
Launch Date – May 2022
Total Circulating Supply – 207.53 Million MBX
Maximum Supply – 1 Billion MBX
Fully Diluted Valuation (FDV) – $62.75 Million
Another one of the altcoins to watch, MBX, has experienced a 15% rise over the past 10 days, quickly recovering the losses from the end of March. As MBX nears $0.20, it will likely maintain its upward momentum. This improvement signals that MBX could continue its uptrend, potentially heading toward new resistance levels in the near future.
Currently holding above the crucial support level of $0.189, MBX is positioning itself to rally toward the next major resistance at $0.21. Surpassing this resistance would allow MBX to recover losses from the end of March, reinforcing the current bullish sentiment and attracting further investor interest.
However, the bullish outlook could be invalidated if MBX fails to hold above the $0.189 support. A fall below this level could lead to a decline, with potential drops to $0.177 or even $0.160. Such a move would undermine the current uptrend and signal a shift toward a bearish market sentiment for MBX.
