SUI’s general outlook remains bullish but appears to have lost steam following a 10% drop in a week. The price currently looks weak on the day as it broke down steadily from a five-month support line. Looking back, SUI’s performance has been highly impressive following an overwhelming gain in the past few months. Its overall structure is still considered bullish on the daily chart; But the trend has shifted briefly to the downside as it undergoes a major correction for the first time in five months. This correction came after increasing by over 10x to $5.36 – marked as the current all-time high. That led to a breakdown from a mid-term rising support line and is now looking bearish on the daily timeframe. Although the market is still in favour of the bulls in the long-term despite the latest price weakness. A drop below the holding $3.5 level could trigger a major drop capable of dipping the price to a low of $1. But from the look of things, the price is likely to retest the $4.3 level before advancing bearish correction. If SUI manages to stay above the mentioned support, it could resume swing high in no time. But as it stands, the bears are much more likely to resume pressure amid rising supply. SUI Key Levels To Watch Source: Tradingview Breaking down the current holding level could bring more sell actions in the market. The potential level to consider for support is $2.973 and the $2.37 level. Right below it lies the key $2 level. For a retest, the $4 level is the closest resistance for the bulls. A push above this level could pave the way for more increase to the current all-time high of $5.36 before breaking to $7. Key Resistance Levels: $4, $5.36, $7 Key Support Levels: $2.973, $2.37, $2 Spot Price: $3.73 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: asifmunir07/ 123RF // Image Effects by Colorcinch
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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 Prediction: Experts Predict ETH Could Rally to $16,000 in 2025 – Here’s What Needs to Happen for This to Become a Reality
Some are speculating, could Ethereum ($ETH) reach $16,000 by May 2025, potentially elevating its market cap above $1 trillion? As interest in Ethereum continues to soar, the innovative PlutoChain ($PLUTO) project could also attract whale attention thanks to bringing innovative technologies. It introduces smart contracts and decentralized applications directly onto the Bitcoin network, thanks to its new hybrid Layer-2 blockchain. This new solution could also address Bitcoin’s scalability problems, offering faster transactions and reduced fees. Let’s explore this topic in more detail below! Will ETH Break Records and Reach 16,000 in 2025? Many are forecasting a significant surge in Ethereum’s price, with some predicting it could reach $16,000 by 2025. This optimism stems from Ethereum’s historical patterns and growing institutional interest. Analysts at Cointelegraph anticipate an “impulsive breakout,” potentially driving ETH to approximately $15,937 by May 2025. This projection is based on Ethereum’s consolidation within a three-year ascending triangle pattern, suggesting a forthcoming significant price movement. Some analysts, like VirtualBacon , forecast ETH to reach $14,000 by year-end, citing factors such as increased staking and supply reduction. Others, including Standard Chartered , predict ETH could climb to $10,000 by the end of 2025 and $22,500 by 2030. However, not all forecasts are as bullish. For instance, CryptoNewsZ forecasts Ethereum could exceed its previous all-time high of $4,800, but they predict more modest figures for 2025 – like a high of $3,700 and an average of $3,300. PlutoChain ($PLUTO) Introduces Smart Contracts To Bitcoin’s Underdeveloped Network Through a New L2 Solution PlutoChain ($PLUTO) brings the first hybrid Layer-2 solution that could bring smart contracts and decentralized applications (dApps) directly to the Bitcoin network. This new solution offers a significantly faster block time of just 2 seconds, compared to Bitcoin’s 10-minute interval, potentially solving scalability issues while offering low transaction costs. It also features Ethereum Virtual Machine (EVM) compatibility which could allow developers to seamlessly migrate Ethereum-based applications to Bitcoin. This integration might merge Ethereum’s flexibility with Bitcoin’s security, potentially opening doors for decentralized finance (DeFi), non-fungible tokens (NFTs), and AI-driven projects on the Bitcoin blockchain. The platform has successfully passed multiple independent audits from SolidProof , QuillAudits , and Assure DeFi , ensuring a reliable environment for both developers and users. Furthermore, PlutoChain’s scalability isn’t theoretical anymore – its testnet has achieved an impressive 43,200 daily transactions, demonstrating its real-world readiness. Thanks to it having a community-driven governance model all community members have a say in all project-related decisions, creating a decentralized and user-centric ecosystem. All these features could potentially enhance Bitcoin’s functionality without compromising its core principles. It could transform it into a hub for blockchain innovation, competing with dominant networks like Solana and Ethereum. PlutoChain’s innovative approach could not only scale Bitcoin, but also potentially expand its utility beyond a mere store of value, expanding its reach into previously untapped sectors. Final Words Ethereum’s price could reach between $3,700 and $14,000 by 2025, with some forecasts suggesting a potential high of $16,000. Factors such as increased staking and supply reduction contribute to this optimism. However, new projects like PlutoChain ($PLUTO) could be worth taking a closer look at due to its transformative capabilities for Bitcoin’s network. Its hybrid Layer-2 solution offers an improved average block time of just 2 seconds and also enables smart contracts. These features could be the foundation for Bitcoin’s ecosystem and case-use expansion. ——– This article is purely informational and should not be interpreted as financial advice. Readers are encouraged to carry out their own due diligence. Predictions involve risk and may not undergo updates. Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here . NullTx
Did the Trump administration quietly begin buying Bitcoin since inauguration?
The coming of the Trump administration swiftly bore fruit for the cryptocurrency industry since, as it entered the white house, Gary Gensler exited the Securities and Exchange Commission (SEC), thus ending what many called ‘operation chokepoint 2.0’ and the ‘war on crypto.’ Still, more direct actions favoring digital assets have been scarce – though not non-existent – and such has been the case with the hoped-for strategic Bitcoin ( BTC ) reserve. Under the circumstances, Finbold elected to examine blockchain sources such as Arkham Intelligence to try and determine if the incumbent government has been buying cryptocurrencies behind the scenes. Is the Federal Government loading up on Bitcoin? As quickly became apparent from the available data , even if the Trump administration has been buying BTC, the quantities have been trivial . Indeed, Arkham Intelligence shows no noteworthy change in the total amount of cryptocurrency owned by the U.S. government. This, however, does not mean the already-existing reserve is negligible. Specifically, records show the Federal Government holds nearly 200,000 BTC at press time. U.S. top cryptocurrency holdings on January 20 and 30. Source: Arkham Many other cryptocurrencies are also in the hands of the administration, and – other than Bitcoin – the top holdings include Ethereum ( ETH ), BNB ( BNB ), the wrapped versions of the major coins and tokens , and a selection of stablecoins like USDC and USDT. In total, the value of government cryptocurrency stands at a substantial – but not staggering – $21 billion. The U.S. Government crypto trading activity revealed Though no substantial buying has occurred since January 20, it is worth pointing out that sections of the government, such as the Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI), have not exercised their right to sell BTC seized from the Silk Road. Thanks to Bitcoin appreciating to its press time price of $101,436, their holdings have grown to nearly $7.3 billion in value. Silk Road Bitcoin balance on January 1 and 30. Source: Arkham Such trading activity – or rather, the lack thereof – indicates that the authorities are following the guidelines set by Trump when he promised not to sell any cryptocurrency found under Federal control. Featured image via Shutterstock The post Did the Trump administration quietly begin buying Bitcoin since inauguration? appeared first on Finbold . NullTx