Bitcoin Price Unshaken Even as Trump-Putin Peace Meeting Fails

Lemmy The Bat will get listed on XT.COM, a global crypto exchange. New listings often bring in new buyers, which can push the LBAI price up, at least for a short time. If there is strong interest from XT.COM’s users, the price may jump in the first hours or days. However, after the first excitement, prices may drop if traders sell for quick profit. Listings are usually big news for smaller tokens. Watch trading volume closely. More info here: source.

Rice AI is having its Token Generation Event (TGE) on PancakeSwap. This event may raise the price of RICE because PancakeSwap is a very popular place for trading new tokens. Only users with Binance Alpha Points can join, which may limit supply and create more demand at first. Early trading often brings strong price moves, but prices may drop after the event if early users sell their tokens fast. Traders should watch the price closely after launch for sudden changes. More here: source.

Flare is launching FAssets V1.2 after finishing a strong security check. Updates like this can help the price go up, because they show trust and growth. If the new version works well, more developers and users may use Flare. However, during the upgrade, some features will stop for about 8 hours, which could cause short-term worries. If the upgrade goes without problems, the price could move higher. But if there are bugs, some traders may lose trust. Read more here: source.

Ethereum had a difficult beginning to the year. From January to late April, the coin lost more than half its value, falling to around $1,300. However, according to Eric Jackson, founder of EMJ Capital, that sharp decline actually set the stage for Ethereum’s rebound. He explained that the drop showed “seller exhaustion,” as many traders were heavily shorting ETH while staying long on Bitcoin. Once that pressure eased, Ethereum started climbing again and has since regained strength.

The Big Catalyst: Ethereum ETFs With Staking

Jackson’s prediction is strongly tied to the possibility of Ethereum exchange-traded funds (ETFs) with staking being approved in the United States. BlackRock, the world’s largest asset manager, has been pushing regulators to allow this. If approved, investors would be able to earn yield through these ETFs, something Jackson says could open the floodgates for institutional money flowing into ETH. A decision from the SEC is expected by October.

Ethereum as the Financial Rails of the Future

Beyond ETFs, Jackson reflected on Ethereum’s growing role in powering the digital economy. Stablecoins like USDC are built on its network, and big companies including Shopify, Coinbase, and Robinhood are adopting Ethereum-based solutions. He argues that Ethereum is not just “digital oil” but the financial infrastructure, or rails, on which future global payments and digital assets will run.

Long-Term Price Targets

Jackson sees strong upside for ETH in both the short and long term. His near-term forecast suggests Ethereum could reach $15,000 in the next cycle. Looking further ahead, he projects ETH could one day hit $1.5 million per coin if adoption continues to grow globally.

At the time of writing, Ethereum is down by more than 4% and is trading at $4,400.

US-based spot Bitcoin and Ether exchange-traded funds (ETFs) just logged their strongest week of trading volume yet, according to an ETF analyst.

“Biggest week ever for them, thanks to Ether ETFs stepping up big,” ETF analyst Eric Balchunas said in an X post on Friday.

Ether “was asleep” for 11 months, says Balchunas

“Ether ETFs’ weekly volume was about $17b, blowing away record, man did it wake up in July,” Balchunas said.

It came the same week Bitcoin (BTC) reached a new all-time high of $124,000 on Thursday, while Ether (ETH) came close to reclaiming its November 2021 high of $4,878 on the same day, reaching $4,784 — just 1.94% below — according to CoinMarketCap.

XRP is testing a technical level at the 26-day EMA, which could decide whether a deeper pullback is likely or if the recent uptrend can be sustained. A clean rebound is less likely given the current circumstances, even though the 26 EMA has historically served as a springboard for continuation. The price action has been consolidating following a strong rally earlier this month. 

Since the last local low, there has been a sharp upward trendline, but its steep angle indicates limited sustainability. A quick breakdown toward lower supports frequently results from such aggressive slope lines failing under selling pressure. The trendline will probably also be broken if the 26 EMA does not hold, which would allow for faster downward movement. There are not any significant tailwinds for XRP in the larger market context.  Chart by TradingView">

Trading volumes have been tapering off, and it looks like the recent rally has lost steam. In the absence of fresh buying interest, the price runs the risk of falling below the EMA support, which might draw technical sellers into the market. In the event that XRP drops this level significantly, the first important support is located close to the 50-day EMA at $2.89. 

Failure there would reveal $2.70 as the next important zone, which was crucial as support during the consolidation in July. In order to reopen the path toward recent highs and restore bullish confidence, a significant rebound from the 26 EMA and a break above $3.20 would be required. 

Stakes on Ethereum increase

In recent sessions, the volume of Ethereum trades has increased by over 300%. As ETH stays close to the $4,600 mark, the surge shows that market activity around Ether is still through the roof from both retail and institutional sides. The volume increase can indicate a possible turning point around here and hint at increasing volatility.

Technically, ETH's Relative Strength Index (RSI) is not at extreme levels, but it is situated just above the overbought threshold. According to historical data, this reading may indicate that the market may experience consolidation or slight pullbacks before regaining its bearings. Ethereum is still technically stretched, though, given its sharp increase from the $3,000 range only a few weeks ago, regardless of the RSI's position.

A robust uptrend has been driving the sustained momentum, with ETH trading significantly above important moving averages. The trend structure is still in place as of right now, and the price has continuously respected the 26 EMA as dynamic support. However, the rally's steepness raises the possibility of fatigue. 

These kinds of overheated conditions frequently lead to corrective phases, particularly if volume spikes start to align with profit-taking. If Ethereum retreats, the first significant support — which corresponds to recent levels of consolidation — is located close to $4,000. The $3,500 range below that is a more advantageous one where buyers may reenter. 

Bitcoin's breakthrough attempt

The recent price action of Bitcoin is displaying warning indicators following an unsuccessful attempt to break above the $121,000 resistance level. At first, the move appeared promising, with Bitcoin surpassing a crucial level. However, the inability to maintain momentum has resulted in a significant decline. Failed breakouts like this one have typically indicated weakness in the past and can lead to additional downside pressure as traders unwind long positions.

The significant increase in trading volume during this decline only serves to heighten the worry. Expanding volume during a downward price movement typically indicates more selling activity and insufficient buying support to counteract the pressure. This dynamic makes deeper reversals more likely. With its current flat position, the 26-day EMA provides little directional guidance. 

At this point, it cannot function as a trustworthy trend-support indicator in the absence of a strong angle. Before oversold conditions are reached, there is still plenty of opportunity for further downward movement, as indicated by the RSI's hovering around the neutral 50 level. The first significant support, which is in line with recent consolidation and near the 50-day EMA, is located close to $115,000 if the bearish trend persists. 

The level of $110,000, a crucial level that has served as a significant pivot in previous cycles, would come into focus if there was a breakdown here. A drop of $110,000 might increase selling pressure and allow Bitcoin to move closer to $102,500, which is the 200-day EMA, a historically important long-term support level.