Ethereum (ETH) price has struggled to regain momentum after losing the $3,000 threshold on February 2, remaining below that level ever since. Over the past 30 days, ETH has dropped more than 20%, reflecting ongoing market weakness and uncertainty about its next move.

Technical indicators like the DMI suggest a lack of a clear trend, with both bullish and bearish pressures weakening in recent days. Meanwhile, the supply of ETH on exchanges has fallen to its lowest level in six months, which could signal accumulation and reduced selling pressure, potentially setting the stage for a recovery attempt.

Ethereum DMI Shows the Lack of a Clear Trend

Ethereum’s DMI chart reveals a weakening trend, as the ADX has declined to 27.5 from 33.8 in the past day. The ADX, or Average Directional Index, is a key indicator used to measure trend strength. Readings above 25 typically signal a strong trend, while values below 20 indicate a weak or nonexistent trend.

The downward movement of the ADX suggests that Ethereum recent trend is losing momentum rather than gaining strength, which could indicate market indecision.

Looking at the directional indicators, +DI has dropped from 17.8 to 15.7, while -DI has also declined from 22.9 to 21.5. This suggests that both buying and selling pressure have weakened, leaving Ethereum without a clear directional bias.

With -DI still above +DI, bears maintain a slight edge, but the declining ADX indicates the trend is not gaining traction.

This setup points to a phase of consolidation or potential trend reversal rather than a continuation of strong bearish momentum. Until there is a clear divergence in the directional indicators or a rise in ADX, Ethereum’s next move remains uncertain.

ETH Supply on Exchanges Reached Its Lowest Level In Six Months

The supply of ETH on exchanges saw a notable shift over the past few weeks. After increasing from 10.35 million on January 19 to 10.73 million on February 1, exchange balances have since declined sharply, falling consecutively to 9.63 million – the lowest level in six months, dating back to August 2024.

This steady decrease in ETH held on exchanges signals a significant shift in investor behavior, potentially impacting price action in the near term.

The supply of ETH on exchanges is a key metric in understanding market sentiment. When exchange balances rise, it often suggests that investors are preparing to sell, as more ETH is readily available for trading. This can create selling pressure, leading to bearish conditions.

Conversely, when Ethereum supply on exchanges declines, it implies that investors are moving their holdings to private wallets, reducing the immediate sell-side liquidity.

This trend is generally considered bullish, as it suggests confidence in holding rather than selling. With ETH exchange supply now at its lowest level in six months, it could indicate strong accumulation, reducing selling pressure and potentially setting the stage for upward price momentum.

ETH Price Prediction: Can Ethereum Rise Back to $3,000?

Ethereum price chart shows that its EMA lines still indicate a bearish structure, with short-term moving averages positioned below long-term ones.

This suggests that ETH price has not yet established a confirmed uptrend. However, if buying momentum strengthens and ETH can recover a sustained upward movement, it may first challenge the resistance at $2,798.

A successful breakout above this level could open the door for further gains toward $3,024. If bullish momentum persists, ETH could eventually target the next major resistance at $3,442, signaling a full trend reversal to the upside.

On the other hand, failure to establish an uptrend could leave ETH price vulnerable to a retest of its key support at $2,524.

A breakdown below this level, especially with increasing selling pressure, would confirm a bearish continuation, potentially driving ETH further down to $2,163.

The past 24 hours have seen bullish momentum return to XRP, with the cryptocurrency now reclaiming the $2.5 price level. This bullish momentum comes after a seven-day stretch of range consolidation between resistance at $2.5 and support at $2.3. Despite this consolidation of the price, technical analysis shows that XRP is still trading in a bullish setup, especially on the daily candlestick timeframe. Notably, this bullish setup shows that the XRP price is about to make a new all-time high run to $5.

Bullish RSI Divergence And Strong Support Set The Stage

Technical analysis of the XRP price, which was posted on the TradingView platform, shows that the cryptocurrency is on the verge of a maximum surge in the coming weeks. Technical indicators play a crucial role in this outlook, which is currently bullish, despite the recent price downturn. 

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One such technical indicator is the Relative Strength Index (RSI), which measures momentum in price movements. The RSI, for one, is flashing a bullish divergence on the daily timeframe. This occurs when the RSI makes higher lows while price action makes lower lows, which is a signal of reversal to the upside. 

Furthermore, technical analysis shows that despite the price downturn, XRP has managed to hold above strong support at $2. The ability of XRP to hold above the support means that the recent selling pressure wasn’t an XRP price weakness as many expect, but only a consequence of a wider downturn in the entire crypto market. With the bullish structure intact and selling pressure appearing to wane, the asset remains in a strong position for a renewed rally, with a $5 target in sight.

Can XRP Break Its All-Time High And Rally To $5?

XRP’s all-time high remains at $3.40 and has yet to return to this price level since January 7, 2018. However, the altcoin has been one of the best performers this cycle, and this all-time high might not stand for long. In a recent rally, the cryptocurrency surged to $3.36, only to face sharp rejection from bearish resistance just before breaking new ground.

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A move to $5 would not only mark a new all-time high but also solidify XRP as the best performer this cycle. The path to this milestone, however, will require the cryptocurrency to overcome key resistance zones, particularly around the $2.8 and $3 levels, where selling pressure has shot up this cycle. 

At the time of writing, XRP is trading at $2.51, having increased by about 4.5% in the past 24 hours. If bullish momentum continues to build and XRP successfully clears these barriers, the projected $5 price target could be within reach.

Featured image from Adobe Stock, chart from Tradingview.com

The cryptocurrency market has continued to show resilience in the wake of trade tensions. Most majors have recorded some gains as investors beyond the current instabilities and onto the expected surge in cryptocurrency adoption rates. 

Notably, more market participants are broadening their horizon to include fresh projects with great potential. iDEGEN, a revolutionary force within the AI crypto space is one such entity. 

With about two weeks left for its presale, savvy investors are steadily amassing $IDGN tokens. Based on its potential, its current token price of $0.0236 is likely the lowest it will ever get to moving forward.

Bitcoin’s steady appeal to sustain it above months-long support zone

Even with the recent risk-off mood, bitcoin price has held steady above $90,000, a support zone that has been steady since mid-November 2024. As a cryptocurrency, it is categorized as a risky asset. 

Nonetheless, it continues to attract more individual and institutional investors as its global adoption increases. Indeed, countries like the US and Czech Republic may soon join the growing number of nations and sovereign wealth funds that have included Bitcoin in their strategic reserves. It is this optimism, coupled with eased cryptocurrency regulations, that will support bitcoin in the short and medium-term. 

A look at its daily chart shows Bitcoin price hovering around the 50-day EMA while still trading below the short-term 20-day EMA. At the same time, its RSI is at 47, slightly below the neutral level of 50. Notably, the RSI is facing upwards, indicating that the current rebounding may continue in the ensuing sessions.

At its current level, the range between the psychologically crucial zone of $100,000 and the support level of $96,005 remains worth watching. Further rebounding will have the bull eye the next target at $102,595. However, this bullish thesis will be invalid if the cryptocurrency pulls back below the lower support zone of $94,444.87.

iDEGEN’s positioning turns early adopters to rich crypto investors ahead of its listing

iDEGEN, an AI crypto project that has been making waves in the market since late November 2024, is set to hit the public shelves in about two weeks. Notably, the powerful trifactor that has captured the attention of investors is expected to catapult it to great heights upon listing.

To begin with, the AI crypto space has grown to a market cap of $29.2 billion as seen on CoinGecko. AI16z, one of iDEGEN’s rivals which was launched in October 2024, is valued at over $618 million. As a revolutionary force that has succeeded at curving its niche in the sector, iDEGEN also has the potential to have its value surge by 20x post-listing.

Besides, its positioning as a community-driven project with no guard rails has given it a competitive edge in the market. For instance, its previous ban on X on grounds of “violent content” attracted more investors; enabling it to raise an additional $1 million within 24 hours. 

It has gone on to expand its reach with it the latest V3 upgrade allowing for video content. These upgrades, coupled with its integration of the viral DeepSeek, have yielded fresh waves of buying pressure. 

So far, it has raised over $21 million with more than 1.7 million $IDGN tokens already sold. As it stands, investors only have a few more weeks left to get onto this highly profitable bandwagon. With returns of over 21,000%, the early adopters are already earning big even before the project’s listing. You can buy the iDegen token here.

Cardano price to rebound within a range amid competition from smart contract projects 

Cardano price appears set for a week of gains after being in the red over the past three weeks. On the one hand, new projects in the smart contract space have exerted pressure on Cardano. However, its healthy adoption rate and blockchain infrastructure continues to support the altcoin.

On its daily chart, cardano price remains below the 25 and 50-day EMAs. At an RSI of 39, it has some room for a rebound. However, while the rebounding will likely continue in the ensuing sessions, it may be range-bound in the short term.

 At its current level, the range between the support zone of $0.7005 and the 20-day EMA at $0.8185 is worth watching. With additional bullish momentum, the bulls will be eyeing the next resistance level at $0.8875.