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Ethereum has begun the year much like it ended the last—under a bearish cloud. The altcoin leader has faced a challenging start, with its price plummeting over 16% since January 6. Weak price action continues to dominate as ETH struggles to find strong support, leaving investors cautious about what lies ahead. Related Reading: Chainlink Forms A Daily Bullish Pattern – Top Analyst Eyes Breakout To $30 Amid the market uncertainty, top analyst Carl Runefelt has shared a technical analysis on X, offering insight into Ethereum’s potential next move. Runefelt highlights that ETH is forming a symmetrical triangle pattern on the 1-hour timeframe—a setup that typically precedes a significant price move. According to his analysis, this formation signals a period of consolidation that could lead to either a bullish breakout or a bearish breakdown. A breakout could provide much-needed optimism for Ethereum investors, potentially reversing the bearish trend and pushing the price toward higher levels. On the other hand, a breakdown could extend ETH’s current losses, raising concerns about deeper corrections in the near term. As the market waits for clarity, all eyes are on Ethereum’s next move, which could set the tone for its performance in the coming weeks. Ethereum Struggle: What’s Next For The Altcoin Leader? Ethereum investors are facing challenging times, with price action continuing to disappoint. After briefly holding key demand levels, many expected a shift in market sentiment. However, ETH has now fallen to its lowest price since late December, leaving investors anxious about its next move. Top analyst Carl Runefelt recently shared a technical analysis on X, shedding light on Ethereum’s current situation. Runefelt revealed that ETH is forming a symmetrical triangle pattern on the 1-hour timeframe—a structure that suggests a significant price move is imminent. The pattern highlights critical levels on both sides of the market, providing a roadmap for potential outcomes. If Ethereum fails to hold above the $3,000 level, a deeper correction is likely, which could push the price significantly lower. Conversely, reclaiming the $3,500 level would signal strength, setting the stage for a massive breakout. Such a move would not only restore investor confidence but also attract new capital into the market. Related Reading: Whales Buy 470 Million Dogecoin In 48 Hours As Price Tests Crucial Demand Level – Details The market as a whole is at a crossroads, with Bitcoin holding above key support levels while altcoins, including Ethereum, continue to experience selling pressure. As traders closely monitor ETH’s next move, its performance in the coming days could set the tone for the broader altcoin market. ETH Tests Crucial Support Levels Amid Downtrend Ethereum is trading at $3,113 after a 6% decline in the past few hours, signaling continued bearish pressure in the market. The price is now testing the daily 200 exponential moving average (EMA) at this level, a critical technical indicator that could determine the direction of the next move. Holding this EMA as support might spark a bullish recovery, giving ETH the momentum needed to reclaim higher levels in the coming sessions. However, the market remains on edge, and the key level to watch for support is the untested $3,000 mark. This psychological and technical level hasn’t been revisited since late November, making it a significant zone of interest for both bulls and bears. A drop to this level could attract strong buying interest, potentially setting the stage for a rebound. Related Reading: XRP Scores A Lower High Break On Daily – ATH Next? On the flip side, if ETH fails to hold the daily 200 EMA or loses the $3,000 level, a deeper correction could ensue, potentially driving the price into new lows for 2025. With market sentiment leaning bearish and key supports being tested, Ethereum’s price action in the next few days will be pivotal in shaping its short-term trend. Featured image from Dall-E, chart from TradingView
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Bitcoin Price Consolidation May Be Nearing an End with Potential for Significant Rebound
Bitcoin’s recent price consolidation may be reaching a critical turning point, with analysts predicting a potential breakout ahead. Recent market behavior suggests heightened activity among traders, particularly in the options NewsBTC
4 of the Best Altcoins That Might Skyrocket if Solana ETFs Launch in 2025
As the crypto market buzzes with growing institutional interest ($DOGE’s price has more than doubled since the elections, for instance), the potential launch of Solana ETFs in 2025 may open doors for massive growth for several altcoins. Solana has emerged as a fierce rival of Ethereum thanks to its low transaction fees and high scalability. Investors are lining up to buy Solana, which has resulted in a price increase of over 300% in the last two months alone. It’s currently priced at $186.52. And this momentum should be amplified by the launch of ETFs. For fellow crypto traders and investors, we’ve shortlisted four of the best altcoins that are all set to benefit from Solana’s potential ETF launch. 1. Solaxy ($SOLX) – Solana’s First-Ever Layer-2 Solution Solaxy ($SOLX) is designed to enhance liquidity, speed, and multi-chain interoperability on Solana. It benefits from the high-performance infrastructure of Solana, supporting seamless liquidity pools and fast swaps. This altcoin has raised an impressive $10M during presale, which reflects the strong confidence of investors in its vision. Currently priced at $0.0016, it offers a significant upside potential. As Solana continues to expand into institutional finance through its upcoming ETF, $SOLX is likely to ride this growth trajectory. Solana can process thousands of transactions per second with minimal fees. This makes it a preferred choice for DeFi and enterprise applications. With $SOLX being integrated into this ecosystem, it’s positioned as a key player for investors looking for exposure to Solana. 2. Wall Street Pepe ($WEPE) – Empowers Retail Traders with Unique Market Insights Wall Street Pepe ($WEPE) has captured the attention of crypto enthusiasts and influencers alike with its serious ambitions. This altcoin brings a fresh twist with its community-driven ecosystem that engages users with innovative features. The project powers several decentralized applications (dApps) and rewards users when they engage with its ecosystem. Furthermore, $WEPE investors will get unique market insights often reserved for whale investors. Simply put, it aims to even the playing field and empower the average Joe. $WEPE also boasts gamified staking options. As a holder, you can earn passive income while participating in its vibrant community activities. The presale has raised over $47M, which demonstrates the strong interest in its playful approach. As Solana ETFs move closer to approval, $WEPE is poised to gain further traction. It’s currently available at just $0.00036647, with prices set to increase in the next couple of days. 3. Bonk ($BONK) – Proven Performer to Get a Boost The first dog-themed coin on the Solana blockchain, $BONK, is revolutionizing the concept of community-driven cryptocurrencies. This altcoin was launched in December 2022 and carries the ethos ‘for the people, by the people.’ 50% of $BONK’s total supply has been airdropped to the Solana community. This strategic move significantly enhanced its visibility and led to a 34% rise in $SOL’s price in just 48 hours. $BONK was designed to bring back liquidity to the Solana-based DEXs. However, its broader mission is to create a full-fledged ecosystem where all participants have an equitable chance to contribute and benefit. The uniqueness of the project lies in its airdrop mechanism, which significantly rewarded collectors, developers, and artists across the Solana network. This initiative has increased trading activity, with Orca, Solana’s DEX, reporting a trading volume of $20M. $BONK had grown over 2,000% within a week by January 2023, which made it the top-performing crypto asset in terms of percentage return that year. Currently, the tokens have over 350 on-chain integrations from various verticals. As the launch date of Solana ETFs approaches, $BONK will ride the momentum, emerging as a key force in the Solana ecosystem. 4. Pudgy Penguins ($PENGU) – One of the Most Popular Meme Coins Pudgy Penguins is a meme coin inspired by the popular NFT project that shares the same name. Since its launch in late 2024, it has been gaining traction. This altcoin combines the playful essence of its NFT with Solana’s efficient blockchain infrastructure. Pudgy Penguins has established itself as a favorite among community-driven projects. Currently, it has a market cap of $2.06B , which reflects $PENGU’s rapid surge in popularity . Analysts also consider its influencer partnerships and the growing trend of Solana-based meme coins to be key drivers of this demand. $PENGU’s future largely hinges on market sentiment and how it engages with the Solana ecosystem. The launch of the Solana ETF is likely to further drive the momentum of this promising meme coin. Verdict – Where There’s Reward, There’s Risk While these 4 of the best altcoins are undoubtedly poised for massive returns, it’s always advisable to do your own research before investing your money into them or any other asset class for that matter. After all, the crypto market has its fair share of ups and downs, and you must be prepared for it all. Also, remember that none of the above is financial advice, so you need to DYOR before investing in cryptocurrencies. NewsBTC
