Ethereum price is consolidating above the $2,500 zone. ETH might gain bullish momentum if it clears the $2,700 resistance zone.

• Ethereum started a fresh decline below the $2,650 level.
• The price is trading below $2,680 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance at $2,690 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent upward move if it settles above $2,700 and $2,735.

Ethereum Price Eyes Upside Break

Ethereum price started a fresh decline below the $2,800 support zone, like Bitcoin. ETH declined below the $2,750 and $2,700 support levels to move into a short-term bearish zone.

The price dipped and tested the 50% Fib retracement level of the upward wave from the $2,125 swing low to the $2,922 high. Finally, it found support near the $2,500 zone. The price is now consolidating and seems to be forming a base above the $2,500 level.

Ethereum price is now trading below $2,680 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,690 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $2,680 level. The first major resistance is near the $2,735 level. The main resistance is now forming near $2,800 or $2,820. A clear move above the $2,820 resistance might send the price toward the $2,920 resistance.

An upside break above the $2,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone or even $3,050 in the near term.

Another Drop In ETH?

If Ethereum fails to clear the $2,700 resistance, it could start another decline. Initial support on the downside is near the $2,550 level. The first major support sits near the $2,520 zone.

A clear move below the $2,520 support might push the price toward the $2,440 support or the 61.8% Fib retracement level of the upward wave from the $2,125 swing low to the $2,922 high. Any more losses might send the price toward the $2,365 support level in the near term. The next key support sits at $2,250.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,525

Major Resistance Level – $2,700

Key takeaways

• A soft U.S. inflation report later today could see Bitcoin rally above the $97k level.
• iDEGEN’s presale surpasses $21m ahead of the Feb. 27 listing. 

Bitcoin trades above $96k ahead of CPI

The cryptocurrency market has been bearish this week, with BTC dipping below $94k on Tuesday. However, it is trading above $96k per coin and could rally higher on CPI news later today.

Analysts expect the January U.S. CPI report to show limited progress on inflation. It’s expected to show that the cost of living increased by 0.3% month-on-month in January, slowing down from December’s 0.4% rise.

This will be positive news for risk-based assets like Bitcoin, and BTC’s price could surge past the $97k mark in the coming hours. 

What is iDEGEN?

The cryptocurrency market is bearish this week, but investors continue to push more funds into new and promising projects. iDEGEN is a promising project that has attracted millions of dollars from investors. 

It is a meme project that leverages the benefits of AI to create the next billion-dollar memecoin. The project has raised over $20 million in its presale and allocated the money to launch several products and services. 

According to the whitepaper, iDEGEN is an AI tool that primarily functions as such. It continuously evolves and adapts by leveraging community feeds on X. While iDEGEN is powered by AI, degens ultimately raise the tool. 

Its native token, $IDGN, will power various activities within the ecosystem. Although it will launch as a memecoin, iDEGEN will offer various utilities to its community and the broader crypto space.

Its launch as a memecoin stems from the recent growth of the meme narrative in the crypto space. Last year, the memecoin ecosystem grew from a $20 billion market cap to $120 billion, representing a 500% growth within 12 months. 

The $IDGN launch on exchanges will occur in roughly two weeks. Once it goes live, it could become one of the best-performing coins in the broader crypto market. 

iDEGEN users feed the tool their data through tweets, tags, and comments. The iDEGEN tool absorbs the post and adds it to its knowledge base; that’s how it learns. Furthermore, iDEGEN posts on X every 60 minutes and can generate and post memes. 

iDEGEN’s presale hits $21m

Despite the current market conditions, the iDEGEN project continues to achieve new milestones. The presale has now officially surpassed $21 million from early investors. 

In the current stage, the $IDGN token is worth $0.0236, and its price will increase to $0.0259 in the next stage. In the final presale stage, it will be worth $0.038, giving early investors a massive ROI before the token launches on exchanges. 

Once the presale ends, iDEGEN’s native token will list on centralised and decentralised trading platforms. 

Is it ideal to invest in iDEGEN before its exchange listing?

The iDEGEN presale is still ongoing but will end in 14 days. It could become one of the biggest performers in the market once the $IDGN token is listed on cryptocurrency exchanges. 

Its unique value proposition makes it an interesting memecoin. iDEGEN could gain massive adoption within the crypto ecosystem as its tool offers an excellent use case. Early investors stand a chance to earn excellent ROI once $IDGN goes live.

Cryptocurrency custodian BitGo is exploring an initial public offering (IPO) in the second half (H2) of 2025.

The move comes amid renewed confidence in crypto regulation under the second Donald Trump administration, which has vocally supported the digital asset sector.

Crypto Unicorn BitGo Mulls Going Public

Bloomberg reported that discussions are underway with potential advisors, though no final decision has been made. BitGo has not officially confirmed its IPO plans. However, the deliberations suggest the company is positioning itself for a public debut amid increasing institutional interest in the crypto industry.

Founded in 2013, BitGo has grown into a leading crypto custodian with over 1,500 institutional clients across more than 50 countries. The company offers various services, including crypto custody, trading, borrowing, and lending.

It processes approximately 8% of all global Bitcoin transactions, further solidifying its status as a major player in the industry. More recently, BitGo revealed an important milestone for the crypto custodian.

“BitGo now secures over $100 billion in assets under custody, earning the top spot as the world’s leading independent custodian,” the announcement read.

Meanwhile, BitGo’s IPO aspirations align with a broader trend of crypto firms preparing to go public. They appear to be capitalizing on what industry insiders describe as a favorable regulatory environment emerging under the Trump administration.

The Winklevoss twins’ cryptocurrency exchange Gemini is exploring an IPO with Bullish Global, a platform backed by billionaire Peter Thiel.

Kraken and stablecoin issuer Circle are also evaluating IPO opportunities. Ark Invest recently stated that a “window” for crypto companies to go public has opened under the Trump administration.

“Among the possibilities are…the re-opening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken…,” read a paragraph in Ark Invest’s newsletter.

Meanwhile, European crypto platform Bitpanda is also weighing its options for an IPO or sale at a $4 billion valuation. This momentum in crypto IPOs reflects the industry’s increasing mainstream acceptance despite past regulatory uncertainties.

Elsewhere, BitGo’s CEO, Mike Belshe, has been an outspoken supporter of Donald Trump’s policies on digital assets. In July 2024, Belshe hosted a fundraising event for Trump’s presidential campaign, featuring the Republican nominee’s running mate, JD Vance. They highlights the close ties between BitGo’s leadership and the US president.