SOL price today is trading 2% down amid the broader crypto market selloff, slipping under $170 levels. Following a rejection at $185 resistance, Solana has corrected nearly 10%, however, on-chain data shows the possibility of a strong upside moving ahead. Market analysts are hopeful that this rally can continue moving ahead all the way to $350, provided the altcoin knocks off key resistances on its path. SOL Price Prediction: Analysts Eye $350 as Key Milestone Despite the recent pullback in Solana, the crypto community remains bullish as the altcoin shows the preparedness to break past its accumulation zone of $115-$190. Market analyst Crypto Spaces noted that once SOL price crosses the critical resistance of $200, the next major target of $350 would come very early. Source: Crypto Spaces This potential rally is drawing attention from traders, with the surge in engagement activity, including rising demand for Solana meme coins. Amid… Read More at Coingape.com
In the ongoing tariff war between the United States and other countries, the cryptocurrency market has significantly plummeted. Amid this, Ethereum (ETH), the second-largest cryptocurrency, is on the verge of a major crash.
According to CoinMarketCap data, ETH has lost almost 25% of its value in just five trading days and has reached a make-or-break level.
Ethereum (ETH) Price Action and Technical Analysis
While examining the weekly chart of ETH, it appears that the asset has recently lost its long-held support from the ascending trendline that had been in place since July 2022.
Source: Trading View
Following the breakdown, the asset has been steadily falling, during which it has lost two key support levels at $2,200 and $1,830, and has now reached another critical support level at $1,530.
Ethereum Price Prediction
According to expert technical analysis, if this downside momentum does not stop, the price could crash hard.
The daily chart reveals that if the ETH price fails to hold this support level and closes a daily candle below $1,450, there is a strong possibility it could drop by another 30% to reach its next support level at $1,000 in the near future.
Source: Trading View
Following the continuous price decline, ETH is now trading below the Exponential Moving Average (EMA) on the four-hour, daily, and weekly timeframes, indicating a strong bearish trend.
Current Price Momentum
At press time, ETH is trading near $1,550 and has lost nearly 10.50% of its price over the past 24 hours. However, during the same period, the asset’s trading volume jumped by a record 550%, indicating heightened participation from traders and investors compared to the previous days.
$200 Million Worth of Bullish Bet
This record surge in trading volume includes the liquidation of traders’ short and long positions, recent investor accumulation or sell-offs, and all other ETH-based trading activity.
Despite the massive price crash over the past 24 hours, traders seem optimistic and are strongly betting on the bullish side, according to on-chain analytics firm Coinglass.
Source: Coinglass
Data reveals that traders are currently over-leveraged at the $1,526 support level, having built $201 million worth of long positions. On the other hand, $1,571 is another over-leveraged level, where traders have built $100 million worth of short positions.
While examining these levels and traders’ positions, it appears that the bulls are currently dominating and could potentially liquidate $100 million worth of short positions. However, if the market sentiment continues to remain unchanged, it could also lead to the liquidation of traders’ long positions.
The post Ethereum on the Verge of Crash, $1,000 Calling? appeared first on Coinpedia Fintech News
In the ongoing tariff war between the United States and other countries, the cryptocurrency market has significantly plummeted. Amid this, Ethereum (ETH), the second-largest cryptocurrency, is on the verge of a major crash. According to CoinMarketCap data, ETH has lost almost 25% of its value in just five trading days and has reached a make-or-break …
US President Donald Trump is inching toward a major announcement in the coming days as trade negotiations reach a crescendo. US Treasury Secretary Scott Bessent says the US is in talks with 17 key trade partners, hinting at a seismic announcement capable of jolting the crypto market.
Donald Trump Negotiates With Key Trade Partners Amid Global Tariff Warfare
As tariffs heat up, US Treasury Secretary Scott Bessent says the US is in talks with 17 out of 18 key trade partners. According to an X post by the pseudonymous Walter Bloomberg, the discussions revolve around Trump tariffs and fresh concessions being offered by US trade partners.
Bessent testified before the House Appropriations Subcommittee on Financial Services and General Government, confirming ongoing discussions. Per Bessent, the lone nation not engaged in trade negotiations with Donald Trump is China, noting that a major announcement is in the offing.
“I would think that perhaps as early as this week, we will be announcing trade deals with some of our largest trading partners,” said Bessent.
Already, India has offered big concessions in the trade war with the US, providing a template for incoming trade deals.
Details of the announcements are under wraps, but a consensus is that the US will lower tariffs on key imports. A previous Coingape report anticipates a UK-US pact to lower steel and car export tariffs this week.
Crypto Markets Prepare For Seismic Announcement
Scott Bessent’s disclosure of an incoming ‘major announcement’ by Donald Trump has whipped the crypto markets into a frenzy. However, in the minutes following the disclosures, Bitcoin’s daily trading volume rose to $23 billion while prices gained a modest 1% as investors brace for impact.
While investors have their eyes peeled on trade negotiations, emerging reports indicate an incoming “earth-shattering” announcement by President Trump.
“It’s not about trade. It’s about something else,” wrote financial commentary platform The Kobeissi Letter. “A positive development for this country.”
This comes barely hours after India launched a volley of missiles into Pakistan, sparking concerns of a potential crypto crash. Pseudonymous cryptoanalyst Crypto TA King warns that an all-out military conflict between the two nations will adversely affect crypto prices.
As the spectre of bearishness hangs around the market, key declarations by Donald Trump can prop up cryptocurrency prices. Opening discussions with China is a potential needle-moving event, capable of triggering a cryptocurrency rally for the broader market.
