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ETH Poised To Test $2000 And SOL Set To Challenge $150 In May – Key Factors That Could Drive A May Rally

Ethereum and Solana are gearing up for significant price movements this May. ETH is eyeing the $2000 mark, while SOL could surge to $150. Several factors are at play, hinting at a possible rally. This article delves into what could trigger these key price levels and which other coins might follow suit. Ethereum: Past Decline Meets a Cautious Current Range Ethereum experienced a significant drop over the last month with a decline of 18.22% and a half-year loss of 40.3%. The sold-off sentiment dampened momentum and left investors wary of the prolonged downturn. Price data from recent sessions reflect these steep losses and the weight of recent sell pressure while hinting at an opportunity for recovery if conditions stabilize. Currently, Ethereum trades between $1,538 and $2,325.86, with immediate support at $1,255.61 and resistance at $2,829.45. Bears dominate as the RSI hovers near 39, and technical signals indicate a modest bearish bias. Trading ideas include watching for dips near the support level and testing the resistance before committing to longer-term positions. SOL Price Dynamics Amid Shifting Momentum Solana saw a 7.14% gain over the past month while dropping 15.91% in the last six months. Price has moved between roughly $98 and $166, reflecting mixed performance during recent trading sessions. A one-week surge of 19.10% highlighted short-term gains, even as longer-term trends reveal some downside pressure. Current trading levels show clear markers, with support near $71 and resistance around $207, with a second resistance at about $275. Indicators suggest a cautious bullish outlook, with an RSI above 55 and modest moving averages. The overall trend remains uncertain, and traders might consider positions near these levels for short-term gains amid the volatile backdrop. Conclusion ETH and SOL show strong potential for significant growth in May. ETH is getting close to the $2000 mark, driven by increased investor interest and market activity. Meanwhile, SOL aims for $150 as it gains traction and attracts attention from both developers and users. These key factors suggest a promising upward trend for these tokens. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Bitcoin.com

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Bullish Momentum Returns: Binance Taker Buy/Sell Ratio Signals Crypto Market Shift

Bullish sentiment is returning to the crypto market – at least that`s what a key metric related to major crypto exchange Binance indicates. The metric shows that buyers are beginning to dominate transaction volumes on the platform. We are talking about the so-called Taker Buy Sell Ratio, i.e. the ratio of buys and sells on Binance, which calculates the ratio of buyers and sellers of BTC. According to a CryptoQuant analyst under the nickname DarkFost, the indicator ”has returned to the neutral zone, which indicates a new balance in trading.” When will cryptocurrencies start to rise again? Currently, the aforementioned ratio is 1.008. When the ratio is above 1, it indicates a dominance of buyers, which in turn is usually an indicator of bullish sentiment. If the ratio is below 1, sellers dominate, which indicates a bearish sentiment. Currently, the aforementioned ratio is 1.008. When the ratio is above 1, it indicates a dominance of buyers, which in turn is usually an indicator of bullish sentiment. If the ratio is below 1, sellers dominate, which indicates a bearish sentiment. Today, Bitcoin is trading around 83.8 thousand dollars. Thus over the past 7 days, the value of the major cryptocurrency has risen by 8.5 percent, which does hint at the beginnings of positivity among investors. Here is DarkFrost`s comment on the situation. Over the past few days, the ratio has been mostly positive, indicating a return of bullish sentiment in derivatives trading on Binance. According to CoinGlass, if Bitcoin passes the $85,000 mark, short positions of nearly $637 million will be at risk of liquidation. In turn, these funds will become ”fuel” for the continuation of the bullrun wave. When a short position is liquidated, it is forcibly closed by the exchange, and the trader`s pledged funds are used to purchase assets, which exerts buying pressure and affects the value accordingly. According to Cointelegraph sources, the positive news so far is exclusive to Bitcoin. Still, the so-called altcoin season index from CoinMarketCap is now at 15 out of 100 points, indicating a lack of major interest in other digital assets. Meanwhile, market share for BTC capitalization has increased by nearly 10 percent since the beginning of the year. In general, the market is still in a negative mood. The Fear and Greed Index from Alternative portal analysts has dropped to a level of 29 out of 100 points, indicating ”fear” among traders. This means that Bitcoin fans are in no hurry to open new positions, as they are surely counting on further clarification of the situation with Donald Trump`s tariffs and the economy. So far, experts disagree on the future direction of Bitcoin price movement. For example, Real Vision`s chief crypto analyst Jamie Cootes admits the prospect of a sharp recovery of the former positions of coins. He said: The market may be underestimating how fast Bitcoin is able to grow – perhaps to new all-time highs as early as the end of the second quarter. But Rob Hamilton, head of AnchorWatch, noted on Twitter the reason for the rather low volatility of BTC at the moment. Still, the cryptocurrency has somehow been in a fairly narrow price channel for several weeks now. ”Bitcoin`s price is staying put because there is an epic battle going on right now between those who sell BTC to pay taxes and those who use tax refunds to buy the cryptocurrency.” he said. The deadline for filing tax returns in the US is April 15, 2025. The market is likely to get more upside stimulus after this season is over as investors can get back to work. Why China is selling crypto Meanwhile, local authorities in China are looking for ways to dispose of previously confiscated cryptocurrencies amid a total ban on digital assets in the country. The lack of clear rules on how to handle seized crypto has led to ”uncoordinated and non-transparent approaches.” According to lawyers , this may contribute to corruption. Officials use private companies to sell seized cryptocurrencies on offshore platforms in exchange for cash to supplement government budgets. It is reported that by the end of 2023, local governments owned approximately 15,000 BTC worth $1.4 billion, and coin sales have become an important source of revenue for budgets. In total, China owns about 194 thousand BTC worth about 16 billion dollars. It is the second largest holder of BTC after the United States. Chen Shi, a professor at Zhongnan University of Economics and Law, said the government does not have a clear understanding of how to capitalize on the volume of confiscated cryptocurrencies. Selling for cash is only a ”temporary solution.” In addition, such transactions do not fully comply with China`s current ban on crypto trading. Compounding the problem is the rise of cryptocurrency-related crimes in China, from online fraud to money laundering and illegal gambling. In particular, in 2024, the state filed lawsuits against more than 3,000 people involved in money laundering through cryptocurrency. According to lawyer Guo Zhihao, the central bank is better suited to manage seized digital assets and should either sell them overseas or set up a corresponding crypto reserve. Ru Haiyan, co-CEO of Hong Kong-based crypto exchange HashKey, supported the idea, adding that China should probably replicate the implementation of US President Donald`s Trump idea with a national reserve. Against the backdrop of general market instability, Bitcoin is showing signs of revival: a positive shift in indicators on Binance, a rise in value and investor interest point to a possible continuation of the bullrun. If the selling pressure subsides after the tax season ends, BTC will have a real chance to enter a new round of growth. At the same time, pulling the rest of the market with it. Bitcoin.com