Market
Ethereum Price Path to Recovery Blocked by Key Barriers
Ethereum price started a recovery wave above the $2,550 zone. ETH is showing positive signs but faces many hurdles near the $2,880 level.
- Ethereum started a decent upward move above the $2,550 zone.
- The price is trading below $2,880 and the 100-hourly Simple Moving Average.
- There is a short-term declining channel forming with resistance at $2,800 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh decline if it stays below the $2,880 level.
Ethereum Price Recovery Faces Hurdles
Ethereum price started a recovery wave after it dropped heavily below $2,500, underperforming Bitcoin. ETH tested the $2,120 zone and recently started a recovery wave.
The price was able to surpass the $2,500 and $2,550 resistance levels. It even climbed above the 50% Fib retracement level of the downward move from the $3,402 swing high to the $2,127 swing low. However, the bears are now active near the $2,900 zone.
The price failed to clear the 61.8% Fib retracement level of the downward move from the $3,402 swing high to the $2,127 swing low. There is also a short-term declining channel forming with resistance at $2,800 on the hourly chart of ETH/USD.
Ethereum price is now trading below $2,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,800 level.
The first major resistance is near the $2,880 level. The main resistance is now forming near $2,920. A clear move above the $2,920 resistance might send the price toward the $3,000 resistance. An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,120 resistance zone or even $3,250 in the near term.
Another Drop In ETH?
If Ethereum fails to clear the $2,880 resistance, it could start another decline. Initial support on the downside is near the $2,640 level. The first major support sits near the $2,550.
A clear move below the $2,550 support might push the price toward the $2,500 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,550
Major Resistance Level – $2,880
Market
XRP Price Tests Critical Barrier: Will Bulls Lose Steam?
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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
Cronos ETF Incoming? Crypto.com Sets 2025 Target
Cryptocurrency exchange Crypto.com is gearing up to launch a Cronos (CRO) spot exchange-traded fund (ETF) in 2025.
The company has already begun expanding its platform’s offerings in the first quarter of the year.
Cronos Spot ETF in 2025?
According to Crypto.com’s released roadmap, the ETF submission is scheduled for the fourth quarter of 2025. Nonetheless, specific details about the proposed ETF have yet to be disclosed.
The push for a Cronos ETF comes as institutional interest in crypto investment products soars. Following the success of Bitcoin ETFs, a wave of new filings has emerged, with institutions eager to capitalize on the growing momentum.
“So far, so good: Spot bitcoin ETFs pulled in $4.94 billion in January, which annualizes to ~$59 billion. For context: In all of 2024, they brought in $35.2 billion,” Matt Hougan, CIO of Bitwise, posted on X (formerly Twitter).
Additionally, with a more favorable regulatory environment under President Donald Trump’s administration and Gary Gensler’s exit from the SEC, filings for altcoin ETFs have increased significantly.
Notably, issuers have also submitted proposals for meme coin ETFs. These include filings from Rex Shares, Tuttle Capital, and Bitwise.
Meanwhile, in the lead-up to the filing, Crypto.com plans to introduce a range of new services, including stock trading, stock options, and ETFs, beginning in the first quarter.
Additionally, the company is set to roll out new banking features, such as personal multicurrency accounts and cash savings accounts, further expanding its financial services ecosystem. The exchange also plans to release a new stablecoin by the third quarter.
Crypto.com has already implemented five of the six planned products from its Q1 roadmap, including the early launch of institutional custody services. In fact, on January 27, Crypto.com’s Malta subsidiary received a Markets in Crypto-Assets Regulation (MiCA) license from the Malta Financial Services Authority (MFSA).
As per the announcement, this made Crypto.com the first major global crypto service provider to secure the full MiCA license. This followed the company’s earlier in-principle approval of its MiCA license.
“Securing a MiCA licence has been a major priority for us in recent years, and receiving this approval further cements our continued commitment to being the most compliant and regulated crypto platform globally,” said Crypto.com’s President Eric Anziani.
This regulatory achievement aligned with Crypto.com’s broader expansion strategy. Despite these developments, the price of CRO has been in a sustained downtrend since early December.
Over the past month, the token has declined by 35.7%, erasing a significant portion of its previous gains.
At press time, CRO was trading at $0.10, marking a 3.6% drop in the past 24 hours. The persistent downward momentum suggested continued selling pressure in the market.
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Market
Can It Break Through and Turn Bullish?
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
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