Asia Market Open: Crypto and Asian Equities Make Quiet Gains as Fed-Focused Week Kicks Off

Ethereum price started a fresh increase above $3,000. ETH is now consolidating gains and might aim for more gains above $3,150.

• Ethereum started a fresh increase above the $3,000 and $3,020 levels.
• The price is trading above $3,050 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance at $3,140 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to move up if it settles above the $3,150 zone.

Ethereum Price Eyes Additional Gains

Ethereum price managed to stay above $2,920 and started a fresh increase, like Bitcoin. ETH price gained strength for a move above the $3,000 and $3,020 resistance levels.

Recently, the price saw a downside correction from the $3,240 zone. There was a drop below the 50% Fib retracement level of the upward wave from the $2,718 swing low to the $3,240 low. However, the bulls remained active near the $2,920 zone.

Ethereum price is now trading above $3,050 and the 100-hourly Simple Moving Average. If there is another upward move, the price could face resistance near the $3,140 level. There is also a key bearish trend line forming with resistance at $3,140 on the hourly chart of ETH/USD.

The next key resistance is near the $3,200 level. The first major resistance is near the $3,250 level. A clear move above the $3,250 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,450 resistance zone or even $3,500 in the near term.

Another Downside Correction In ETH?

If Ethereum fails to clear the $3,140 resistance, it could start a fresh decline. Initial support on the downside is near the $3,050 level. The first major support sits near the $3,000 zone.

A clear move below the $3,000 support might push the price toward the $2,950 support. Any more losses might send the price toward the $2,920 region and the 61.8% Fib retracement level of the upward wave from the $2,718 swing low to the $3,240 low. The next key support sits at $2,840 and $2,820.

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 – $3,050

Major Resistance Level – $3,140

Crypto and stock trading platform Robinhood is set to tap into Indonesia’s burgeoning cryptocurrency trading market after an agreement to acquire two local fintech companies.

In an announcement on Sunday, Robinhood said it has entered into agreements to acquire Buana Capital, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader, “marking our entry into one of Southeast Asia’s fastest-growing markets.”

It said that Indonesia has more than 19 million capital market investors and 17 million crypto investors, making it a “compelling market for equities and crypto trading.”

Acquiring an existing brokerage eases the company’s entry into the new market by providing regulatory compliance and an established presence, while buying a licensed digital asset platform accelerates its access to offering crypto products.

“Indonesia represents a fast-growing market for trading, making it an exciting place to further Robinhood’s mission to democratize finance for all,” said Patrick Chan, head of Asia at Robinhood. 

Burgeoning Indonesian crypto market

Robinhood will continue to serve Buana Capital customers with Indonesian financial products, it stated.

“Over time, we hope to also offer Robinhood brokerage and crypto trading products and connect Indonesian customers to US equities, cryptocurrencies, and more at scale,” it added. 

Robinhood did not disclose the financial terms of the deal, which is expected to close in the first half of 2026. 

Related: Indonesia’s digital rupiah CBDC to get ‘stablecoin’ companion backed by government bonds

Chainalysis ranks Indonesia among the world’s top crypto markets, seventh globally in its 2025 adoption index and the leader in Southeast Asia. 

The total transaction value of crypto assets tripled in 2024 from the previous year to more than 650 trillion Indonesian rupiah ($39.7 billion), according to Reuters. 

The decentralized, AI-focused network Bittensor is set for its first halving event on Dec. 14, marking the end of its inaugural four-year cycle. This pivotal event will halve the daily issuance of its native TAO token from 7,200 to 3,600.

Bittensor operates as an open network at the intersection of AI and crypto, allowing users to freely contribute intelligence to improve AI systems. 

The network has subnets that are each dedicated to a specific AI task, and distributes TAO as incentives based on the utility of user input. There are currently 129 active subnets that offer a variety of AI-led services including compute, data storage, AI agents, and deepfake detection.

The network's halving is poised to increase the scarcity of TAO by reducing the token emissions distributed among network participants.

"Bitcoin's history shows that reduced supply can enhance network value despite smaller rewards, as its network security and market value have strengthened through four successive halvings," said Grayscale Research Analyst Will Ogden Moore. "Similarly, Bittensor's first halving marks a key milestone in the network's maturation as it progresses toward its 21 million token supply cap."

Moore said Bittensor is currently seeing strong adoption and rising institutional interest. The Grayscale analyst pointed to the February launch of dynamic TAO (dTAO) as a major achievement for Bittensor. This mechanism made subnets directly investible, leading to a sharp expansion in the total market capitalization of those subnets, Moore said.

Since the launch of dTAO, institutional investors such as Yuma Asset Management and Stillcore Capital, have launched funds investing in Bittensor's top subnets. Moreover, three public companies have established dedicated TAO treasuries. TAO Synergies, the leading firm, currently holds about $12 million worth of the token.

"The early success of certain subnet-based applications and an increase in institutional capital in the Bittensor ecosystem, combined with the forthcoming TAO supply halving, could be a positive catalyst for price, in our view," Moore wrote. 

According to The Block's crypto price page, TAO is up 0.5% in the past 24 hours to trade at $282.31. It is down 28.4% in the past month.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. 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.

The Trump administration did not mention cryptocurrency or blockchain in its latest national security strategy, despite the industry’s growing ties to the financial system and President Donald Trump’s claim of increased competition from overseas.

Trump’s national security strategy, outlining his administration’s priorities, released on Friday, instead said the “core, vital national interests” of the US revolved around artificial intelligence and quantum computing.

“We want to ensure that U.S. technology and U.S. standards—particularly in AI, biotech, and quantum computing—drive the world forward,” the administration said.

The omission of crypto from the national security strategy comes despite Trump telling CBS’ 60 Minutes last month that he did not want to “have China be number one in the world in crypto” and has previously said he wants all Bitcoin (BTC) mining to take place in the US.

CIA deputy director Michael Ellis also said in May that crypto was “another area of technological competition where we need to make sure the United States is well-positioned against China and other adversaries.”

There is, however, one section of the document that states that Trump wants to preserve and grow “America’s financial sector dominance” by using the country’s “leadership in digital finance and innovation” to ensure market liquidity and security, which could be a hint at crypto.

Bitcoin price started a fresh increase above $90,500. BTC is now consolidating gains and might attempt an upside break above $91,650.

• Bitcoin started a fresh increase above the $90,500 zone.
• The price is trading above $91,000 and the 100 hourly Simple moving average.
• There was a break above a key bearish trend line with resistance at $90,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move up if it settles above the $91,650 zone.

Bitcoin Price Faces Resistance

Bitcoin price managed to stay above the $90,500 zone and started a fresh increase. BTC gained strength for a move above the $91,500 and $92,500 levels.

There was a clear move above the $93,000 resistance. A high was formed at $94,050 and the price recently corrected some gains. There was a drop below the 50% Fib retracement level of the upward move from the $83,871 swing low to the $94,050 high.

However, the bulls were active near the $87,800 support and the 61.8% Fib retracement level of the upward move from the $83,871 swing low to the $94,050 high. The price is again rising above $90,000.

There was a break above a key bearish trend line with resistance at $90,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $91,000 and the 100 hourly Simple moving average.

If the bulls remain in action, the price could attempt another increase. Immediate resistance is near the $91,650 level. The first key resistance is near the $92,000 level. The next resistance could be $93,000. A close above the $93,000 resistance might send the price further higher. In the stated case, the price could rise and test the $95,000 resistance. Any more gains might send the price toward the $95,500 level. The next barrier for the bulls could be $96,200 and $96,450.

Another Decline In BTC?

If Bitcoin fails to rise above the $91,650 resistance zone, it could start another decline. Immediate support is near the $90,000 level. The first major support is near the $89,500 level.

The next support is now near the $87,800 zone. Any more losses might send the price toward the $87,250 support in the near term. The main support sits at $86,500, below which BTC might accelerate lower in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $90,000, followed by $89,500.

Major Resistance Levels – $91,650 and $92,000.

The market is certainly ready for a recovery, but there's a big catch that most investors shouldn't be ignoring at this point in time. Shiba Inu might remove a zero, Ethereum is certainly seeing a small recovery while XRP's chances to retrace increase.

Shiba Inu could be ready

The chart indicates that the market may be preparing for a more rapid recovery than many anticipate, and Shiba Inu is exhibiting early, but significant, indications of entering an uptrend. SHIB has finally stabilized after months of relentless downward pressure. It formed a higher low in late November, and despite numerous tests, refused to break below the crucial $0.0000080 region. That, in and of itself, indicates a change in the structure of the market: buyers are steadily absorbing supply, while sellers are no longer able to drive prices into new lows. Chart by TradingView" />

The improvement is most noticeable in the short-term trend. In opposition to the 20-day moving average, SHIB is rising and moving closer to the 50-day, which has leveled off and is no longer sharply declining. Bullish breakouts are frequently preceded by this flattening, particularly when coupled with a longer stabilization period.

The change is also supported by momentum indicators, the RSI is rising from the mid-40s, indicating fresh purchasing activity without going into overheated territory. The next logical target is located close to the $0.0000095-$0.0000105 zone, a resistance cluster that has capped prices for months, if SHIB successfully reclaims the 50-day moving average. A break above that range would validate a mid-term trend reversal and reopen the much-discussed zero removal option.

 Similar compression phases, when the majority of participants had already written it off, have historically been the beginning of SHIB’s strongest runs. Managing risk around recent lows, while treating this zone as an accumulation window, is consistent with the chart’s evolution.

Ethereum sell off conclusion

The market is displaying several indicators that the downward momentum is waning, suggesting that Ethereum’s selloff may be coming to an end. ETH has finally stabilized and begun to carve out a local floor after falling from the $4,600 area to the sub-$3,000 zone. Bearish follow-through has clearly slowed over the last few sessions, indicating that the asset may already be past the peak of the selling pressure.

This is supported by the layout of the chart. ETH has formed a distinct higher low around $2,800, instead of creating new lows, the first positive change in several months. Since then, the price has increased and is pushing against the 20-day moving average while consolidating slightly below the $3,100 mark. 

Now that October’s strong cascading momentum has subsided, buyers are finally retaliating. Volume has also returned to normal, and stable participation has replaced panic-driven spikes, a typical marker of transitional periods where supply from weak hands has largely washed out. Another sign of stabilization is the RSI sitting in the mid-40s, indicating balance rather than capitulation.

For now, Ethereum appears to be shifting from breakdown to stabilization, and the selling cycle is likely nearing its end. Instead of expecting a new collapse, investors should anticipate a cautious recovery phase, with momentum gradually leaning back toward buyers.

XRP is entering important range

XRP is getting close to a technical zone where there is a significant increase in the likelihood of a bounce. The asset is still defending support in the $2.00-$2.10 range, despite months of controlled selling pressure and a distinct declining channel. The current market structure indicates that sellers are losing momentum at precisely the moment when buyers usually try a counter-move, and every retest of the channel’s lower boundary has resulted in a reaction.

First, there are no new lows. XRP has repeatedly dipped toward the same support line over the last few weeks, but it hasn’t been able to cross it. This indicates that supply isn’t increasing at lower levels, which is a typical sign of short-term reversals. 

This interpretation is further supported by volume, which shows that selling spikes have decreased and that the market is entering a quieter, compression-driven phase where volatility first contracts before increasing once more.

Momentum indicators support the configuration. When the RSI is in the low-40s, it indicates that the market is under pressure but is not giving up, indicating that there is still potential for growth without creating overbought conditions. This is precisely the point at which XRP typically produces strong relief rallies, particularly in well-established downward channels.

In the case that XRP recovers, the first resistance is located between $2.16 and $2.20, close to the 20-day moving average. The price may move closer to the 50-day MA at $2.28, which has been a reliable rejection point, if there is a stronger reaction. 

A move toward the mid-channel area around $2.40-$2.45 would be possible if that level were to be broken, which would be the first real improvement in medium-term sentiment.