On Wednesday, US Federal court decided to strike down Trump tariffs, right from the “Liberation Day’ last month, citing the overreach of power. The U.S. Court of International Trade further stated that under the economic emergency laws, President Trump lacks the authority to unilaterally impose global tariffs. This might help ease the ongoing trade tensions while allowing the Federal Reserve to boldly make decisions by eliminating uncertainties. Crypto market veteran Arthur Hayes believes that it’s time to ‘buy everything’. What’s Next As US Court Strikes Down Trump Tariffs? If the US court upholds its decision on “reciprocal tariffs”, it could have far-reaching implications, such as the refunding of all tariffs collected since April 2. This could amount to $10 billion worth of refunds as per the calculations of 2024 U.S. import levels. The decision covers the 10% baseline tariff applied to all nations, along with higher rates imposed on specific… Read More at Coingape.com
Ethereum (ETH) price continues to exhibit negative sentiment as it hovers at its lowest levels in 2023 against the US dollar. It has crashed to its 2020 lows against Bitcoin and a record low against Solana. However, a contrarian crypto analyst expects the ETH price to rebound, citing a similarity with Bitcoin’s pattern that pushed it to $100k.
Ethereum Price Set for a Surge as Pattern Mirrors Bitcoin Performance
Ethereum price today trades at $1,835, having risen by 32% from its April lows. While this recovery is good, it is showing signs that it is struggling to recoup the crucial resistance level at $2,000. Such a move would likely attract more bulls taking it much higher this year.
A crypto analyst has identified a close similarity between the daily ETH price chart and the three-day Bitcoin chart and predicted that it will have a strong bullish breakout in the coming months or weeks.
The chart below shows that Bitcoin price formed a double-top-like pattern in 2021 and 2022, leading to a crash from $69,000 in 2022 to a low of $15,522 in late 2022. It crossed the neckline of this pattern at $29,361. After staying below the neckline for months, the coin staged a strong bull run that pushed it to a record high of $109,300 earlier this year.
Ethereum price similarity with Bitcoin
The daily ETH price chart also exhibits the same chart pattern. It formed a double-top pattern at $4,086. The first peak was in March last year, and the second one happened in November amid the crypto market rally.
Ethereum price then dropped below the neckline at $2,135 in March and has struggled to move back up. Therefore, if everything works out well as it did with Bitcoin, it means that ETH will also stage a strong comeback later this year. Such a move would likely propel it to $4,000 or Justin Sun’s ETH prediction of $5,000.
Potential Catalysts for ETH Price to Surge
Ethereum price would need a few catalysts for its price to skyrocket this year. Like other altcoins, it needs the value of Bitcoin to surge. Fortunately, analysts see this scenario happening. For example, Robert Kiyosaki sees Bitcoin price hitting $200,000, while Ark Invest expects it to soar to $2.4 million by 2030.
Further, ETH price would also surge if the macroeconomic picture improves. A US-China trade deal, coupled with Federal Reserve rate cuts, would also propel it higher.
Internally, the upcoming Fusaka hard fork may be a good catalyst. It also needs to start gaining market share in industries like DEX, where it is losing ground to chains like Base and Solana.
On Friday, Bitcoin (BTC) witnessed the biggest single-day shift in long-held coins. While, this can happen for various reasons, leading industry figures like Cathie Wood have made a significant claim. Cathie Wood Suggests That Record Bitcoin Shift Could Involve Government On-chain analyst David Puell revealed via X that 1.1 million coinyears were destroyed in 24
The consolidation within the market continues as Bitcoin remains within a narrow range. Meanwhile, the altcoins also face a small pullback, including Avalanche, whose price has dropped from the local highs at $26.88. In the times when the token has been experiencing equal bullish and bearish pressure, here’s what to expect from the AVAX price rally in the next couple of weeks.
Key Support and Resistance Levels for AVAX
The volatility of the token has increased ever since the price jumped above horizontal consolidation during the last quarter of 2024. Meanwhile, despite the correction that followed, the market participants appear to remain extremely bullish over the token, as the network’s high-speed subnets have been a game changer. Therefore, the AVAX price is believed to rise to $0.26 in the next 10 days if the momentum continues to build.
Despite the bearish pullback, the Gaussian channel remains bullish, which keeps the bullish possibility alive. The price is testing one of the crucial supports at $22.75, which has been acting as a strong resistance to clear since March. However, the MACD shows a drop in the buying pressure with a possibility of a bearish crossover. However, the levels remain within the bullish range, which keeps the hopes of a bullish reversal alive.
Hence, the Avalanche price is believed to test the average bands of the rising parallel channel of around $21.45 that could offer a strong base to trigger a rebound. Meanwhile, a rise above $28 could only elevate the levels above the bearish influence and a rise above $30 could reinstate a bull run to $50.
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The post What’s Next For Avalanche Price Rally—Will it Rise to $30 or Drop to $20 in May 2025? appeared first on Coinpedia Fintech News
The consolidation within the market continues as Bitcoin remains within a narrow range. Meanwhile, the altcoins also face a small pullback, including Avalanche, whose price has dropped from the local highs at $26.88. In the times when the token has been experiencing equal bullish and bearish pressure, here’s what to expect from the AVAX price …
