Ethereum price is witnessing different predictions about its next move, with some forecasting a “most hated rally” while others point to bearish signals. The multiple analyses come as ETH’s market share approaches all-time lows.
Analyst Says Ethereum Price Will Melt Faces
Analyst Crypto Caesar expresses a bullish outlook. In a recent tweet, he stated that Ethereum will melt faces soon. He also added that the most hated rally is coming.
$ETH – #Ethereum will melt faces soon. The most hated rally is coming.
One of the key factors that Caesar points to is “oversold bullish divergence” that “looks bottomish.” This optimistic view is shared by Merlijn The Trader, who claims that the Ethereum double top is completed. He also mentioned in his tweet that now comes the face-melting rally no one expects.
However, not all analysts share this positive sentiment. Gordon highlights Ethereum’s declining market share. He noted that it has neared all-time lows and mentioned that it points to a potential ETH price drop to $1,100.
Ethereum market share nears all-time lows as bearish chart signals potential $ETH price drop to $1,100 pic.twitter.com/NKr45vB4V5
Multiple technical analysts have identified different chart patterns for Ethereum. Analyst BOBO notes that ETH is currently forming a descending triangle pattern. This is a formation that traditionally has bearish implications but could resolve in either direction depending on market conditions.
BOBO explained that if the market aims to shake out weak hands, another dip could occur before any potential recovery. However, the analyst leans toward a scenario where ETH breaks directly above the $1,700 resistance level.
$ETH is currently in a descending triangle pattern . If the market wants to shake out weak hands, we could see another dip before a potential recovery.
However, I’m leaning toward a direct breakout above the $1,700 resistance level.
Taking a more specific approach, analyst Ted stated in a tweet that ETH is approaching a breakout point. Ted connected Ethereum’s price action to broader market movements. He noted that global markets are gaining strength, which could help ETH maintain support between $1,550 and $1,600. For a bullish outcome, Ted is watching for a breakout and close above $1,670, which could help in a rally toward $2,000.
Analyst Caesar used the term “will melt faces soon” to describe the potential upcoming ETH price movement. This is his analysis that the rally would catch many traders off guard and force those who had taken bearish positions to chase the market higher.
Such rallies can be particularly powerful as they force short-sellers to cover their positions (buy back ETH they had borrowed and sold). This also creates additional buying pressure.
The analysis comes at the backdrop of the US SEC’s decision to delay the Grayscale Ethereum Spot ETF Staking Proposal.
China’s recent directive for its state-owned banks to decrease reliance on the US dollar has amplified a growing trend among countries seeking alternatives to the dominant reserve assets. In some instances, Bitcoin has emerged as a viable competitor.
BeInCrypto spoke with experts from VanEck, CoinGecko, Gate.io, HashKey Research, and Humanity Protocol to understand Bitcoin’s rise as an alternative to the US dollar and its potential for greater influence in global geopolitics.
The Push for De-Dollarization
Since the 2008 global financial crisis, China has gradually reduced its reliance on the US dollar. The People’s Bank of China (PBOC) has now instructed state-owned banks to reduce dollar purchases amid the heightened trade war with US President Donald Trump.
China is among many nations seeking to lessen its dependence on the dollar. Russia, like its southern neighbor, has received an increasing number of Western sanctions– especially following its invasion of Ukraine.
Furthermore, Rosneft, a major Russian commodities producer, has issued RMB-denominated bonds, indicating a shift towards RBM, the Chinese currency, and a move away from Western currencies due to sanctions.
This global shift away from predominant reserve currencies is not limited to countries affected by Western sanctions. Aiming to increase the Rupee’s international use, India has secured agreements for oil purchases in Indian Rupee (INR) and trade with Malaysia in INR.
The country has also pursued creating a local currency settlement system with nine other central banks.
As more nations consider alternatives to the US dollar’s dominance, Bitcoin has emerged as a functional monetary tool that can serve as an alternative reserve asset.
Why Nations Are Turning to Bitcoin for Trade Independence
Interest in using cryptocurrency for purposes beyond international trade has also grown. In a notable development, China and Russia have reportedly settled some energy transactions using Bitcoin and other digital assets.
“Sovereign adoption of Bitcoin is accelerating this year as demand grows for neutral payments rails that can circumvent USD sanctions,” Matthew Sigel, Head of Digital Assets Research at VanEck, told BeInCrypto.
Two weeks ago, France’s Minister of Digital Affairs proposed using the surplus production of EDF, the country’s state-owned energy giant, to mine Bitcoin.
Last week, Pakistan announced similar plans to allocate part of its surplus electricity to Bitcoin mining and AI data centers.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a 192-179 vote, sending it to the Senate. This development makes New Hampshire the fourth state, after Arizona, Texas, and Oklahoma, to have such a bill pass a legislative chamber.
If HB302 is approved by the Senate and signed into law, the state treasurer could invest up to 10% of the general fund and other authorized funds in precious metals and specific digital assets like Bitcoin.
According to industry experts, this is only the beginning.
VanEck Predicts Bitcoin to Become a Future Reserve Asset
Sigel predicts Bitcoin will become a key medium of exchange by 2025 and, ultimately, one of the world’s reserve currencies.
His forecasts suggest Bitcoin could settle 10% of global international trade and 5% of global domestic trade. This scenario would lead to central banks holding 2.5% of their assets in BTC.
According to him, China’s recent de-dollarization will prompt other nations to follow suit and lessen their reliance on the US dollar.
“China’s de-dollarization efforts are already having second- and third-order effects that create opportunities for alternative assets like Bitcoin. When the world’s second-largest economy actively reduces its exposure to US Treasuries and promotes cross-border trade in yuan or through mechanisms like the mBridge project, it signals to other nations—especially those with strained ties to the West—that the dollar is no longer the only game in town,” Sigel said.
For Zhong Yang Chan, Head of Research at CoinGecko, these efforts could prove catastrophic for the United States’ dominance.
“Broader de-dollarization efforts by China, or other major economies, will threaten the status of the dollar’s global reserve currency status. This could have [a] profound impact on the US and its economy, as this would lead to nations reducing their holdings of US treasuries, which the US relies on to finance its national debt,” he told BeInCrypto.
However, the strength of the US dollar and other dominant currencies has already shown signs of weakening.
A General Wave of Currency Decline
Sigel’s research shows that the four strongest global currencies—the US dollar, Japanese yen, British pound, and European euro—have lost value over time, particularly in cross-border payments.
The decline of these currencies creates a void where Bitcoin can gain traction as a key alternative for international trade settlements.
“This shift isn’t purely about promoting the yuan. It’s also about minimizing vulnerability to US sanctions and the politicization of payment rails like SWIFT. That opens the door for neutral, non-sovereign assets—especially those that are digitally native, decentralized, and liquid,” Sigel added.
This lack of national allegiance also sets Bitcoin apart from traditional currencies.
Bitcoin’s Appeal: A Non-Sovereign Alternative
Unlike fiat money or central bank digital currencies (CBDCs), Bitcoin doesn’t respond to any one nation, which makes it appealing to some countries.
For Terence Kwok, CEO and Founder of Humanity Protocol, recent geopolitical tensions have heightened this belief.
For these same reasons, experts don’t expect Bitcoin to replace fiat currencies fully but rather provide a vital alternative for certain cases.
A Replacement or an Alternative?
While Bitcoin offers several advantages over traditional currencies, Gate.io’s Kevin Lee doesn’t foresee its eventual adoption causing a complete overhaul of the currency reserve system.
Recent data confirms this. The number of Bitcoin transactions has fallen significantly since the last quarter of 2024. Bitcoin registered over 610,684 transactions in November, but that number dropped to 376,369 in April, according to Glassnode data.
The number of Bitcoin active addresses paints a similar picture. In December, the network had nearly 891,623 addresses. Today, that number stands at 609,614.
Bitcoin number of active addresses. Source: Glassnode.
This decline suggests reduced demand for its blockchain in terms of transactions, usage, and adoption, meaning fewer people are actively using it for transfers, business, or Bitcoin-based applications.
Meanwhile, the Bitcoin network must also ensure its infrastructure is efficient enough to meet global demand.
Can Bitcoin Scale for Global Use?
In 2018, Lightning Labs launched the Lightning Network to reduce the cost and time required for cryptocurrency transactions. Currently, the Bitcoin network can only handle around seven transactions per second, while Visa, for example, handles around 65,000.
“If expansion solutions (such as the Lightning Network) fail to become popular, Bitcoin’s ability to process only about 7 transactions per second will be difficult to support global demand. At the same time, as Bitcoin block rewards are gradually halved, the decline in miners’ income may threaten the long-term security of the network,” Guo, Director of HashKey Research explained.
While the confluence of geopolitical shifts and Bitcoin’s inherent characteristics undeniably create a space for its increased adoption as an alternative to the US dollar and even a potential reserve asset, significant hurdles remain.
Achieving mainstream Bitcoin adoption hinges on overcoming scalability, volatility, regulatory hurdles, stablecoin competition, and ensuring network security.
The unfolding panorama suggests Bitcoin will carve out an important role in the global financial system, though a complete overhaul of established norms seems unlikely in the immediate future.
Shiba Inu price looks prime for a parabolic rally amid a looming supply crunch and a recovery across the meme coin sector. In the last seven days, the total meme coin market cap has gained nearly 10% from $48 billion to $52 billion at press time. Amid these bullish tailwinds, can SHIB price reach the highly anticipated psychological level of $0.001?
Shiba Inu Price in Focus Amid Mysterious 1B SHIB Burn
The Shiba Inu burn rate skyrocketed recently after an unknown user burned 1,000,000,000 SHIB tokens. Data from Shibburn shows that this user sent these tokens to the burn address in a single transaction. Yesterday, another address also sent 23M SHIB to the burn address.
SHIB Burn
One of the main factors contributing to the high burn rate is a spike in activity on the Shibarium network. DeFi tracking tool DeFiLlama shows that in just one week, Shibarium’s TVL has increased by over $1M and recently reached its highest level since late January.
Shiba Inu DeFi TVL
As Shibarium records an uptick in activity, the burn rate will continue to surge and bring down SHIB’s supply. This will bode well for Shiba Inu price.
SHIB Supply Crunch Looms
Besides the token burns, Shiba Inu supply on exchanges has also reached its lowest level in four years. According to Santiment, SHIB’s exchange experienced a sharp decline earlier this year, and only 100.42 trillion tokens, valued at around $1.3 billion are available on exchanges.
Shiba Inu Supply on Exchanges
The amount of SHIB held on exchanges is only 16% of the meme coin’s circulating supply of 589 trillion tokens. This decline indicates that many SHIB holders are not holding their tokens on exchanges, which highlights a lack of intent to sell.
As this supply continues to fall, it might cause a supply crunch where demand outpaces the supply. This could spark a parabolic rally for Shiba Inu price.
Can Shiba Inu Reach $0.001?
The $0.001 price target is realistic for Shiba Inu as that would give it a $589B market cap. One of the factors that could aid such a rally is a gradual increase in the SHIB burn rate.
Additionally, increased activity on Shibarium could sustain a long-term uptrend. Early Bitcoin advocate Davinci Jeremie previously stated that Shibarium will unlock SHIB’s potential.
The possible launch of a spot SHIB ETF as highlighted by SHIB marketing executive LUCIE could also drive a price rally to $0.001. If Shiba Inu outperforms the rest of the crypto market and attains this price target, it will not only be the largest meme coin but also the largest altcoin.
Shiba Inu Price Analysis
Shiba Inu price today trades at $0.0000135 with a 2.5% gain in 24 hours, The meme coin is on the verge of a breakout after breaking above the upper trendline of a descending parallel channel, indicating that bears are losing control as buying pressure rises.
The rising RSI line also supports this bullish Shiba Inu price prediction. This indicator stands at 51, which is a neutral level. However, the making of higher lows shows that selling pressure is easing.
Shiba Inu faces two key resistance levels which, if breached, will confirm a bullish reversal. One of these levels is the 50-day SMA of $0.0000141. If the meme coin flips this resistance, it could trigger a 36% surge to the 200-day SMA of $0.000019.
SHIB/USDT: 4-hour Chart
In summary, Shiba Inu price is likely to break crucial resistance at the 50-day SMA, which will confirm a reversal from bearish to bullish trends. The increasing burn rate caused by an uptick in activity on Shibarium as well as the falling supply on exchange could trigger a supply crunch. This could precede a parabolic rally for SHIB.
XRP and Cardano are experiencing significant growth, with both digital currencies seeing sharp increases in value. Meanwhile, the presale of XYZVerse is drawing considerable interest from investors. What is fueling these sudden movements in the market? This piece delves into the factors behind the surge and the buzz surrounding these assets.
XYZVerse: The Best New Meme Project You Can’t Afford to Bench!
XYZ is your exclusive VIP pass to a sports-driven, meme-fueled revolution. Think of it as the MVP of the XYZVerse ecosystem, where crypto enthusiasts can score big off the growing demand for meme coins.
But every revolution needs a hero—someone willing to fight against the odds and push the $XYZ token to the top.
That hero is XYZepe, the masked fighter, the true believer, the relentless $XYZ holder whose mission is to bring XYZVerse to the #1 spot on CoinMarketCap. It’s about proving that underdogs can rise to greatness.
With millions of sports fans ready to hit the field, the XYZVerse ecosystem is set to keep expanding—and your rewards will slam dunk through the roof!
And here’s a highlight reel moment: XYZVerse has been officially recognized as the Best NEW Meme Project—a title that underscores its explosive potential in the meme coin arena.
Meme coins are the undisputed champions of the crypto world, and XYZ is set to crush the competition. Currently priced at $0.0025, $XYZ remains an undervalued crypto gem poised to rise to $0.1 at the final presale stage.
But victory doesn’t happen overnight—it takes dedication, strategy, and a fighter willing to go the distance. XYZepe knows the battle ahead, but with the community behind him, he’s taking $XYZ to legendary status.
With upcoming listings on major CEX and DEX platforms, rock-solid defense in the form of audited smart contracts, and a fully vetted team, XYZ is already ahead of the game. The first-mover advantage is key here—get in before the crowd storms the field, and you’ll be sitting on way bigger returns!
XRP Shows Potential Upside as Bulls Regain Momentum
XRP is currently trading between $2.26 and $3.32. In the past week, its price has increased by 5.86%, signaling a possible resurgence of bullish momentum. Over the last six months, XRP has seen substantial growth of 350.33%, although it experienced a slight decline of 4.78% over the past month. The recent price movement suggests that bulls may be gaining strength after a period of consolidation.
Technical indicators show potential for further growth. The Relative Strength Index is at 51.80, indicating neutral momentum. The MACD level is slightly positive at 0.007322, suggesting an upward trend. If XRP breaks through the nearest resistance level at $3.70, it could rise by approximately 50% from the current price of around $2.46. Further upward movement could see it reach the second resistance at $4.76, representing a potential gain of around 93%. However, the nearest support level is at $1.58, which could act as a base if prices pull back.
Cardano (ADA) Gains Over 38% in a Week, Eyes Higher Resistance Levels
Cardano (ADA) has seen significant price movement recently. In the past week, its price increased by over 38%, moving within a range of $0.76 to $1.33. The 10-day simple moving average is at $0.94, higher than the 100-day average of $0.84. This suggests a positive short-term trend. The Relative Strength Index (RSI) is at 57.19, indicating that the coin is neither overbought nor oversold.
If the upward trend continues, ADA may test the nearest resistance level at $1.53, which could represent an increase of up to 30% from current prices. Breaking through this resistance might open the path to the second resistance level at $2.10, implying a potential gain of about 57%. However, if the price declines, the nearest support level is at $0.38, where buyers might step in.
Conclusion
While XRP and ADA perform well, XYZVerse’s unique sports memecoin aims for 20,000% growth, blending meme culture with sports to become a cultural icon.
You can find more information about XYZVerse (XYZ) here:
The post Breaking Crypto News: XRP & Cardano Skyrocket While XYZVerse’s Presale Gains Momentum – What’s Behind the Hype? appeared first on Coinpedia Fintech News
XRP and Cardano are experiencing significant growth, with both digital currencies seeing sharp increases in value. Meanwhile, the presale of XYZVerse is drawing considerable interest from investors. What is fueling these sudden movements in the market? This piece delves into the factors behind the surge and the buzz surrounding these assets. XYZVerse: The Best New …
Oversold
pic.twitter.com/NKr45vB4V5
.
