Notably, the 20-day SMA has crossed above the 50-day SMA, with Ethereum price eyeing the 50-day EMA next at $2,160. Additionally, the supertrend has flashed green, indicating a buy signal. According to data from crypto.news, Ethereum (ETH) price rose to a six-day high of $2,153 on Wednesday, April 1.
The momentum suggests a potential retest of the $2.3k–$2.4k resistance zone is likely – a significant daily level that sits directly above and has already rejected ETH once recently. However, failure to keep the bullish momentum can cause the market to drop toward the $1.8k key support zone once more. Bitcoin is trading at $68,574 amid a neutral bias, with a slight bearish tilt, as spot holds below the descending resistance line, which now caps the upside near $73,900. The price also sits below the 50-day Exponential Moving Average (EMA), while remaining well above the 100-day and 200-day EMAs, outlining a medium-term uptrend under short-term pressure.
XRP tests rebound strength amid ETF and futures drawdowns
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- The MACD indicator rises toward the zero line as histogram bars contract on the daily chart, suggesting fading downside momentum rather than aggressive selling.
- The $2.4k resistance band has now rejected the asset decisively after the February low.
- As for XRP, the price holds above $1.35, with a near-term bias mildly bearish as it sits below the downward-sloping trendline.
- The latest rejection occurred near $1.44 and remains capped by the 50-day, 100-day, and 200-day EMAs, which are clustered between $1.45 and $1.90.
The Relative Strength Index (RSI) near 48 on the same chart stays close to the midline, indicating balanced forces after the recent pullback. The firm still holds about $300 million worth of SOL, $35 million worth of Bitcoin, and $20 million worth of USDT. Therefore, there may be impending selling pressure on ETH and SOL as a result of the firm’s liquidation events. Ethereum is a programmable blockchain that enables developers to build and deploy decentralized applications (dApps) and smart contracts. As a Turing-complete platform, it can execute complex code and has become the second-largest cryptocurrency by market capitalization, behind Bitcoin. A break above this level could spur Ethereum towards the neckline of the cup and handle pattern at $2,384, with the next major target at $2,450, which coincides with the 100-day SMA.
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Ethereum is opening Q trading above $2.1k, still well below the levels needed to suggest any meaningful trend reversal. The MACD indicator rises toward the zero line as histogram bars contract on the daily chart, suggesting fading downside momentum rather than aggressive selling. The RSI at 53, around neutral territory on the same chart, supports a range-to-upward bias. Bitcoin’s immediate resistance lies at the 50-day EMA around $71,000, followed by the recent high zone near $72,800 and the descending trendline break area at $73,900. A daily close above that cluster would reopen the path toward the March high of $76,000. On the downside, initial support is seen around $68,000, ahead of the late-March lows near $65,000.
Bitcoin, Ethereum and XRP tick up amid depressed sentiment
With the RSI now pushing into the low-70s, which is the highest reading since the March peak, the market is likely to climb higher in the short term. Meanwhile, institutional demand for XRP digital investment products has dropped significantly over the last few weeks, as evidenced by muted spot ETF activity on Tuesday. Moreover, outflows totaling $2.3 million were recorded on Monday, undermining investor interest. Sentiment, as reflected in the Fear & Greed Index, which shows a reading of 8 on Wednesday, has remained in extreme fear territory since March 19. There was a brief spike to 28 on March 17, but the index retreated, signaling that the broader crypto market sentiment remains weak. Bitcoin (BTC) mirrors a neutral-to-bullish outlook, rising above $68,000 at the time of writing, while Ethereum (ETH) follows suit, steadying above $2,100.
Ethereum Kurs-Übersichten
Dogecoin is approaching the descending trendline, trading at $0.092 on Tuesday, which could determine DOGE’s next directional move. A confirmed breakout could suggest an upside move, as optimism builds around Qubic’s DOGE mining mainnet launch scheduled for Wednesday. The United States (US) and Israel’s war with Iran, which is now in its second month, has continued to weigh on crypto assets as recovery attempts are quickly absorbed, leading to frequent pullbacks. AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers. We have quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe.
The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
The author has not received compensation for writing this article, other than from FXStreet. Bitcoin hovers slightly below $68,000 after a 2% gain in March, ending the streak of five consecutive bearish months. The US President Donald Trump foresees the Iran war ending in two or three weeks. In the meantime, Algorand, Stable, and Midnight are leading gains over the last 24 hours. However, a break above would strovemont invalidate the signals sent by Alameda Research’s move, at least for now. This showed buying was weak at a price zone that has led to bearish reversals previously.
