Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Ethereum Price Gains Traction: Can It Sustain the Climb?

Ethereum price started a fresh increase above $3,220. ETH is now consolidating and might eye more gains above the $3,270 resistance zone. Ethereum started a fresh increase above the $3,120 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it stays above the $3,200 level. Ethereum Price Recovers Ethereum price started a decent increase from the $3,020 zone, like Bitcoin . ETH was able to surpass the $3,120 and $3,150 resistance levels to move into a positive zone. There was a break above a key bearish trend line with resistance at $3,200 on the hourly chart of ETH/USD. The pair surpassed the 50% Fib retracement level of the downward move from the $3,427 wing high to the $3,020 swing low. However, the bears are now active near the $3,270 and $3,280 resistance levels . Ethereum price is now trading above $3,200 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,270 level and the 61.8% Fib retracement level of the downward move from the $3,427 wing high to the $3,020 swing low. The first major resistance is near the $3,330 level. The main resistance is now forming near $3,360. A clear move above the $3,360 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,550 resistance zone or even $3,650 in the near term. Another Drop In ETH? If Ethereum fails to clear the $3,270 resistance, it could start another decline. Initial support on the downside is near the $3,220 level. The first major support sits near the $3,200. A clear move below the $3,200 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,200 Major Resistance Level – $3,270 CoinOtag

---

Crypto News: Bankman-Fried’s Family Seeks Trump Pardon After Ulbricht’s Release

The post Crypto News: Bankman-Fried’s Family Seeks Trump Pardon After Ulbricht’s Release appeared first on Coinpedia Fintech News The parents of Sam Bankman-Fried, the founder of FTX who was sentenced to 25 years for fraud, are reportedly seeking a possible pardon from President Donald Trump. According to Bloomberg, they have met with lawyers and figures connected to Trump’s circle to explore their options. Bankman-Fried, who is also appealing his conviction, argues that his sentence is excessive, especially considering that most FTX customers have managed to recover their funds. This push for clemency follows a trend set by Trump’s previous pardons, including that of Ross Ulbricht, the founder of the Silk Road marketplace. Ulbricht was convicted in 2015 for running an online platform Silk Road that facilitated over $200 million in illegal transactions. Trump granted Ulbricht a pardon, citing his libertarian views and the belief that his sentence was excessive. This move has sparked growing support for Ulbricht, particularly within libertarian circles. While Bankman-Fried’s case lacks broad public support, his legal team is pushing for a pardon by leveraging Trump’s history of granting clemency, which has often been based on informal appeals rather than traditional Justice Department channels. Bankman-Fried is not alone in his pursuit; Ryan Salame, another former FTX executive, is also reportedly exploring similar efforts for a pardon. As Trump’s administration has been more open to considering clemency for controversial cases, including Ulbricht’s, the push for a pardon signals a shift in the broader landscape of white-collar criminal justice. However, no formal outreach to the White House regarding Bankman-Fried’s case has been confirmed as of now. CoinOtag