US President Donald Trump is again getting much attention from the crypto community due to the upcoming meme coin dinner on May 22. The dinner invitees will be the largest holders of the TRUMP meme coin and include Tron founder Justin Sun. With only a day left to this event, the TRUMP meme coin price is already gaining with a 9% surge in 24 hours to trade at $14.38 at press time. In this article, we explore what to expect from this token’s performance before and after this event. Tron Founder to Attend Trump’s Meme Coin Dinner The number one attendee to this event is the founder of Tron, Justin Sun, who is also the largest holder of the TRUMP meme coin. Sun confirmed his attendance through an X post on May 20, saying that he is going to discuss crypto and the future of the industry. Justin Sun X… Read More at Coingape.com
Ethereum price sits at $3,677, up about 16.5% this week. It keeps stepping over $3,800, only to get shoved back down.
With a big unstaking queue hanging in the background and momentum cooling a bit, the obvious question is whether this door finally swings open or shuts again. Two key metrics can help understand what happens from here.
Exchange Supply Ratio Near Lows
The Exchange Supply Ratio (ESR) is around 0.145, close to this year’s low of 0.142. A ratio is used instead of raw exchange balances because it measures exchange holdings against total circulating ETH, which changes with staking, burns, and unlocks.
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Ethereum price and exchange supply ratio: CryptoQuant
A low ESR means only a small chunk of supply sits on exchanges and is ready to sell. That is the setup right now.
According to the chart, local ESR highs often came before Ethereum price pullbacks. Therefore, low ESR levels exude confidence.
If ESR goes up while price slips, it usually means unstakers or large holders are moving coins to exchanges, and a dip can follow.
Funding and Open Interest
Open interest is about $55.9 billion, so a lot of futures positions are open. The funding rate is near 0.01%, still positive but lower than recent spikes (anything above 0.02% might be worrisome as that would mean high Long leverage).
The current market structure means that traders lean long (expect prices to go higher), yet they are not paying a heavy premium to stay there. That says leverage is present without being extreme. This is a healthy scenario, and the ETH price rally looks spot-driven.
Funding is the fee that longs and shorts pay each other to keep perpetual prices near spot. Open interest is the total value of all open contracts.
Ethereum (ETH) Price Needs To Beat Key Levels
ETH is trading inside two key ranges of $3,832 and $3,635 (the 0.786 Fib level). As the upper level (resistance) would suggest, the real block sits just above the “$3,800 door.” Yet simply breaching the $3,832 resistance like earlier might not help.
There is a holder cluster above $3,888, which also needs to be breached. That cluster likely explains why quick moves above $3,800 fade; many wallets are near break‑even there and sell into strength.
A daily close above $3,896 would open doors to $4,402 (the 1.618 extension). If ETH corrects again, $3,635 is first support, then $3,480. A drop under those levels, together with a rising ESR, would weaken the bullish setup fast.
Fibonacci levels flag common reaction zones. The in-and-out-of-money map shows where many wallets bought; those areas often act as real resistance or support, validating the Fib levels.
However, the entire short-term bullish hypothesis might get invalidated if the ETH price dips under $3,128 or the 0.238 Fib extension level.
Gemini co-founder Tyler Winklevoss has called out JPMorgan over its treatment of his crypto exchange. Winklevoss accused the largest U.S. bank of refusing to re-onboard the exchange after he criticized them last week over their involvement in Operation Chokepoint 2.0. JPMorgan Holds Off On Re-Onboarding Gemini In an X post, Winklevoss revealed that the U.S.
After a mildly bearish week, the coming weekend is expected to be a turning point for the crypto market. This is if the Trump-Musk feud comes to a halt, which is unlikely given their tenacity to have the final word.
BeInCrypto has identified three altcoins to watch this weekend and the direction in which they will be taking over the next two days.
1Inch Network (1INCH)
1INCH price is expected to rise in the next two days as the protocol undergoes a significant upgrade. The 1IP-78 update will introduce key improvements aimed at boosting the adoption and usage of the 1inch Protocol. This upgrade could be a catalyst for positive price movement in the short term.
Despite being down 6% in the last 24 hours, trading at $0.1982, 1INCH shows signs of recovery. The Ichimoku Cloud indicates persistent bullish momentum, which could help push the price above the crucial support level of $0.2092. This support level will be key in determining the price direction.
If bearish market conditions continue, 1INCH may experience further losses. A drop below $0.2092 could send the altcoin toward $0.1886 or even lower to $0.1793. A decline to these levels would invalidate the bullish outlook and could result in a prolonged downward trend for 1INCH.
Hyperliquid (HYPE)
HYPE has been one of the best-performing tokens this week, with an 8% increase. This strong momentum is expected to continue into the weekend, potentially pushing the price above $36.47. If this trend holds, HYPE could see further upward movement, making it one to watch closely.
The Chaikin Money Flow (CMF) indicator shows that despite some outflows, it remains above the zero line. This suggests that there is still buying pressure in the market, which could drive HYPE closer to its all-time high (ATH) of $42.25. The coin is currently 23.8% away from reaching this level.
If outflows intensify and market sentiment weakens, HYPE could experience a decline. A drop below the support level of $31.26 would signal further weakness, potentially leading to a fall to $27.31. Such a scenario would invalidate the current bullish outlook and shift the market sentiment towards bearish.
Quant (QNT)
QNT has performed well this week, showing strong bullish signals similar to HYPE. The Exponential Moving Averages (EMAs), which recently formed a Golden Cross, continue to expand. This pattern indicates sustained bullish momentum, suggesting that QNT could see further price increases in the near term.
The upward momentum could help QNT bounce off the $110 support level, with a potential rise to $121. If the price breaks above this resistance, it would open the door for a move toward $126. This positive price action indicates that QNT is likely to maintain its bullish trend for now.
However, if the price fails to breach $121, QNT may continue to consolidate under this level. If the $110 support is lost, the altcoin could experience a sharp decline to $101, invalidating the current bullish outlook and signaling a shift toward bearish market conditions.
