Author: Monicah W

Fed Chairman Jerome Powell gave his first speech after the Federal Open Market Committee (FOMC) decided to keep interest rates unchanged. Considering the current economic outlook, the Fed Chair noted that its policies are strong for now. Powell noted that the Fed will continue to watch inflation gauges for changes as part of its measures to maintain economic stability and stem inflation.

Jerome Powell Speech: Quantitative Easing Begins

As reported earlier by CoinGape, the Fed maintained interest rates at 4.5%. Powell stated in his speech that the inflation outlook is transitory with the Donald Trump-induced tariff in North America. 

Speaking on the inflationary trend, the Fed Chair referenced measures from the Bank of Canada to prevent the bloated surge in the price of goods owing to the tariff war. He said the US measures to tighten or loosen gauges to prevent inflation challenge the FOMC. However, he noted that the United States is not at the level where it will be concerned about the longer-term impact of the trade war.

Ahead of the March FOMC Meeting, the forecast to keep interest rates unchanged was resounding. However, speculations trailed the broader Quantitative Easing (QE) outlook. In line with this, the Federal Reserve Chairman has provided definitive guidance.

“The Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $25 billion to $5 billion,” outlining its measures to begin QE.

Jerome Powell said this year that the Fed will adapt based on the market outlook.

Tariff War and Economic Expectation

While the Trump administration has masked the market with tariff concerns, Jerome Powell said in his speech that this trend is partly to blame for the current inflation level.

However, he hinted that the tariff war does not influence all economic activity. He cited the service sector as insulated from this trade war. When asked about his take on Americans who are displeased with the inflation outlook, the Fed Chair said this displeasure is understandable since they are at the price level.

As part of the speech, the Chairman hinted at a possible 2-time interest rate cuts before the end of this year.

Market Reaction to Fed Chair Speech

The market’s volatility recently flipped bullish, drawing on broader economic indices. While keeping interest rates unchanged might help stabilize prices in the short term, lingering uncertainty remains a key headwind in the market.

As of writing, data from CoinMarketCap pegs the price of Bitcoin at $85,516.99, up by 4.30% in 24 hours. Altcoins like Ethereum, XRP, and Solana (SOL) also rallied by 7.61%, 11.85% and 7.11% within the same period.

Beyond the Fed Chair speech, the US SEC’s dismissal of the Ripple lawsuit created a short-term tailwind for the crypto market.

The post Jerome Powell Speech: Fed Chair Break Silence on Inflation, Tariff War appeared first on CoinGape.

Solana Labs co-founder Anatoly Yakovenko has addressed the controversy surrounding the blockchain network’s recently deleted ad. The advertisement, which aimed to promote the upcoming Solana Accelerate conference, faced harsh criticism for its portrayal of gender issues.

The ad, now taken down, sparked backlash from the community, especially for its tone-deaf approach to gender identity. The Solana team has since been forced to manage the aftermath, with investors and users questioning the impact on the project’s public image.

Solana Labs Co-Founder Responds to Backlash

Solana Labs co-founder Anatoly Yakovenko has responded to the backlash in a post on X. He said he was sorry for the lack of sensitivity that was used in the advert and for not considering how such a piece can hurt minority groups. “The ad was bad, and it’s still gnawing at my soul,” Yakovenko said, following the mistake which had been made. He also confessed that at first, he had minimized the situation and did not speak out about it as it deserved to be.

Yakovenko went on to also express gratitude to the developers and artists in the Solana ecosystem who openly seceded the ad; some did it publicly while others privately. He effectively also appericated their collaboration in pointing out such content.

Nonetheless, Yakovenko sought to cool down the tensions, stating that Solana Labs would keep true to its objectives: decentralization and open-source software. He noted that the Solana Foundation would not interfere with culture wars and would stick to the principles on which Solana was established.

Marketing Missteps and Community Reaction

This ad was widely regarded as provocative as it presented a character called “America” speaking about ideas of invention during a therapy session. Instead of giving him theories about technological development, the therapist advised him to stick to matters like gender and pronoun.

In the end, the ad concluded with the character stating that he was going to ‘invent technologies not genders. The depiction was also considered by many as being sexist and an awkward response to the present culture and political correctness.

The response was immediate, with many people in the crypto-sphere expressing their disgust on social networks. Some of the critics felt that the ad was vulgar and insensitive towards some of the vices in the society towards Solana. Subsequently, the company removed the video, however, by that time the video had received millions of viewers and thousands of comments. Some questioned the Solana marketing team for not thinking past such a message, especially during the current political climate of gender issues.

Solana Price Trends Amid the Controversy

Following the controversy, many investors have been closely monitoring the impact on Solana’s market performance. While Solana remains one of the largest blockchain networks, the incident has raised concerns over potential consequences for SOL’s price. As of March 19, Glassnode’s URPD (Unrealized Realized Price Distribution) chart suggests key support and resistance levels that could be affected by this negative publicity.

The first strong support level is $112.10 according to Glassnode where 9.7 million SOL (approximately 1.67% of the total) is stored. This level proves important, in the light of the fact long-term investors might be willing to support the stock after acquiring stakes hence this presents a cost base. On this context, the $94, $97, and $100 levels support around 21 million SOL which is 3.5% of the total supply and breakdown of any of these levels may lead to bearish pressure.

On the upside, there is resistance around $135, where 26.6 million SOL is concentrated, and particularly at $144, where 27 million SOL (nearly 5% of supply) is held. These levels could provide significant selling pressure, as many investors who bought at or near these levels may look to exit at break-even, adding additional selling pressure on the price.

The post Solana Labs Co-Founder Breaks Silence on Controversial Ad Amid Backlash appeared first on CoinGape.

Ethereum price surged by 5% on Wednesday, reaching $2,050 for the first time in ten days. With mutiple news catalysts alligning with massive short liquidations, how high can ETH prices go?

Ethereum (ETH) retakes $2,000 after 10-days amid Fed rate pause and SEC news on Ripple

Ethereum’s price surged by 5% on Wednesday, reaching $2,050 for the first time in ten days. This uptick coincided with the U.S. Federal Reserve’s recent policy decision and the conclusion of Ripple’s legal battle with the Securities and Exchange Commission (SEC), events that have significantly impacted the cryptocurrency market.

The Federal Reserve announced a pause in interest rate hikes, maintaining the current rates amid stable economic indicators. This decision has been perceived positively by investors, leading to increased confidence in riskier assets, including cryptocurrencies like Ethereum.

In a parallel development, Ripple’s CEO, Brad Garlinghouse, confirmed that the SEC has dropped its case against the company. The lawsuit, initiated in December 2020, alleged that Ripple’s XRP token was an unregistered security. The dismissal of this case has been viewed as a significant win for the broader cryptocurrency industry, alleviating regulatory uncertainties that have previously hindered market growth.

More Bullish Signals Appear as ETH Short Traders Emerge Biggest Losers

Aside from the latest Federal Reserve decision and Ripple’s SEC victory boosting altcoin market demand, Ethereum has formed internal bullish catalysts. Over the past week, the Ethereum network successfully implemented two key upgrades: the Pectra Upgrade and the Hoodi Update.

These technical improvements have strengthened investor confidence, helping ETH surpass the $2,000 resistance level on Wednesday.

According Coinglass’ latest derivatives crytpocurrency market data suggest further upside potential.

According to the liquidation heatmap, Ethereum saw $86.58 million in total liquidations over the past 24 hours, with short traders suffering the most at $72.62 million. This accounted for a significant 25% of total market-wide liquidations, indicating a short squeeze that fueled ETH’s breakout.

With ETH short traders emerging as the biggest losers, it signals that short sellers are closing their positions at a rapid pace. This has two key implications. First, it suggests that bears are conceding the $2,000 resistance level, reducing downward pressure on ETH.

Second, as ETH advances above $2,050 and stabilizes at $2,067 at press time, many traders who previously placed short positions around key resistance levels have exited. With weaker resistance ahead, ETH could rise rapidly if positive macro sentiment surrounding the Fed’s rate pause persists.

Ethereum Price Forecast: Bulls Need $2,100 Breakout to Confirm Next Move

ETH price surged past $2,036, gaining 5.43% as bullish momentum accelerated following positive  macroeconomic swings and successful network updates. Ethereum price forecast indicators on the daily chart reveals that ETH is trading above the 20-day moving average, signaling a potential short-term bullish reversal. The recent price action also aligns with the VWAP level of $2,009, further validating the strength of this rebound. A decisive close above $2,100 could open the door for a continuation toward the next resistance level at $2,373, as indicated by the upper Keltner Channel boundary.

However, despite the bullish momentum, Ethereum remains under a looming “death cross” overhang, where the 50-day moving average trends below the 200-day moving average, signaling a long-term bearish risk. Additionally, while short-term resistance may have weakened due to the massive $72 million in ETH short liquidations recorded Wednesday, the broader trend remains uncertain. If ETH fails to break and hold above $2,100, a rejection could trigger a retest of lower support around $1,927, potentially extending losses toward $1,801.

For now, bulls need to establish control above $2,100 to confirm sustained upside potential. A breakout beyond this level could drive ETH into a new uptrend, while failure may see renewed selling pressure in the coming days.

The post Ethereum Price Flashing More Breakout Signals after US Fed Decision and Ripple’s SEC Win Sparks $300M Liquidations appeared first on CoinGape.

Solana price has climbed 10% in the last 24 hours as market sentiment turns positive. The surge follows a broader crypto market rebound and a bullish Federal Reserve policy update. Traders are now eyeing further gains as the first Solana ETF prepares to launch tomorrow, potentially driving additional momentum for the asset.

Solana Price Rises 10% Awaiting Tomorrow’s SOL ETF U.S. Launch

Solana price increased 10% as traders anticipate the first-ever Solana futures ETFs launching in the U.S. on Thursday. Volatility Shares will introduce these ETFs on Nasdaq, allowing more institutional participation in the Solana market.  

This development has fueled strong buying activity, signaling optimism among traders ahead of the launch. The ETFs will track Solana futures, marking a significant step for crypto investment products in the U.S. market.  

With heightened interest, analysts speculate on whether this launch could drive a bullish trend for Solana. Investors remain watchful as the market prepares for a new phase in Solana trading.

ICYMI: Solana $SOL ETFs are set to launch in the US tomorrow!

BULLISH! https://t.co/yXc0mIhjzU pic.twitter.com/EPjUlb7wCv

— CryptoBusy (@CryptoBusy) March 19, 2025

Will the Bullish Momentum Continue for Solana Price?

The latest Solana price has surged over the past 24 hours, showing notable upward momentum. 

The SOL price is currently hovering around $133, reflecting a 10% increase following the crypto market recovery. The BTC price is trading above $85k, while ETH hovers above $2k, fueling the surge. 

The top altcoin has been trending upwards in a clear channel, aiming for key resistance near the $140 mark.

Technical indicators confirm this positive momentum. The Moving Average Convergence Divergence (MACD) shows bullish signals, with the MACD line at 0.98, surpassing the signal line of 0.48. 

This suggests strong buying interest. Moreover, the Chaikin Money Flow (CMF) stands at 0.21, indicating a positive capital flow into SOL.

The first target for Solana price prediction would be around $140, which aligns with the recent resistance level. A successful breakout above this level could see the price rise towards $150, a significant psychological resistance zone. If the bullish trend continues, the next target could be $160. 

If the price faces significant downward pressure and breaks below $130, the next support level to monitor is around $120.

Final thoughts, the recent Solana price surge, combined with the anticipation of the first ever ETF launch, suggests a bullish outlook. Traders remain optimistic as they watch for continued momentum. The coming days will reveal whether the rally can maintain its strength and push Solana to new highs.

The post Solana Price Soars 10% Ahead of First SOL ETF Launch Tomorrow appeared first on CoinGape.

Dogecoin price may be on the verge of another price rally, according to a market analysis comparing its current trend to the 2017 cycle. A detailed chart analysis suggests a similarity between DOGE price movements in 2017 and its trajectory in 2024.

The data shows that in 2017, the meme coin experienced a surge followed by a consolidation period lasting 115 days before another upward movement. The present cycle has now extended to 119 days, indicating a potential repeat of past trends. If the pattern holds, analysts predict DOGE price could reach the $1 mark by June 2024.

Analyst Predicts Dogecoin Price Could Hit $1 by June

Analyst Master Kenobi took to the X platform, formerly known as Twitter, to highlight a potential repetition of Dogecoin’s historical price cycle. According to his analysis, Dogecoin had a 115-day consolidation period between major price surges in 2017. The current market structure shows a similar pause, now lasting 119 days. This resemblance to past movements suggests that Dogecoin price could be approaching another breakout phase.

The analysis also points to technical indicators supporting this prediction. The Relative Strength Index (RSI) displayed a sharp increase during the initial rally in both cases, followed by a downward correction during the consolidation phase.

Once RSI stabilized in 2017, the price experienced another surge. A similar pattern appears to be forming in 2024, reinforcing the expectation of a possible upward movement.

Historical price cycles further strengthen the argument for a potential rally. The 2017 surge followed a prolonged accumulation phase, which appears to be repeating in the current cycle. If the top meme coin follows the same trend, analysts believe the meme coin rally could push DOGE toward the $1 mark in the coming months.

Technical Indicators Suggest a Meme Coin Rally

The analysis of Dogecoin price trends incorporates several technical indicators that align with the 2017 price cycle. Moving averages, RSI, and price action suggest that the current consolidation phase may be setting up for another strong rally. 

More so, the Moving Average Convergence Divergence (MACD) indicator is signaling a potential bullish crossover as the blue MACD line is rising and appears to be crossing above the orange signal line. This crossover is a classic technical indicator of increasing bullish momentum, often interpreted as a buy signal by traders. 

Additionally, the histogram bars have transitioned to blue, reinforcing the likelihood of an upward trend. As the histogram expands positively, it suggests growing buying pressure, which could push Dogecoin’s price higher in the coming sessions. This development indicates that momentum is shifting in favor of the bulls, potentially setting up a price recovery.

Furthermore, the Awesome Oscillator (AO) is reflecting a similar sentiment, as the histogram bars are beginning to lighten in color, transitioning from deep red towards green. This shift in momentum suggests that bearish pressure is weakening, and a potential reversal may be forming. If the AO continues to print green bars, it would confirm a bullish divergence, adding weight to the bullish case

At press time, the top meme coin is trading at $0.1743, reflecting a 5.34% surge in the past 24 hours. Additionally, the 24-hour trading volume has increased by 11.81%, reaching $1.16 billion, while its market cap stands at $25.89 billion, indicating strong bullish momentum.

The post Analyst Reveal When Dogecoin Price Could Hit $1 Based on This Pattern appeared first on CoinGape.