TronWeekly

Crypto World News

You are here: Home / All Posts

All Posts

Solana Price Builds Momentum Toward $233.8 as Market Activity Strengthens

By | Edited By Ammar Raza,,

Solana (SOL) price is stable around an important support area that was a trigger for previous upward movements. The interest of investors grows along with the stabilization of price and the waiting period until the next move is confirmed.

At the time of writing, Solana is trading at $86.65, showing a 0.56% gain over the last 24 hours. The SOL continues to attract attention as trading activity remains strong, with daily volume reaching $4.74 billion and market capitalization holding near $50.09 billion, according to CoinMarketCap.

SOL price chart
Source: CoinMarketCap

Also Read | Cardano NFT Trading Volume Jumps 434% in 2026

Solana Price Eyes Major Rally

As noted by the crypto analyst Javon Marks on May 22, 2026, the Solana price has been showing resilience at the support level that has proved successful in launching strong upward surges several times before. In accordance with his opinion, it is this level that has played the role of a launch platform for a number of major price moves.

He observed that previous bounces off this very level led to substantial gains, with one rise exceeding 80%, while another shot up by more than 270%. According to his previous experience with this asset, he believed that this new bounce off the level was preparing a new wave of gains.

SOL price chart
Source: JAVON MARKS’s X Post

In case the momentum gains steam on the back of the existing base of support, Solana price might witness an uptrend by more than 165% towards $233.8. This area is perceived to be a crucial point for determining the future course of Solana price action.

If the purchasing pressure increases and exceeds this point, then, according to MARKS’s opinion, the targets at the $450+ level could become relevant. It will be a major growth stage if Solana can exceed and fix above the resistance level.

Solana Price Sees Strong Participation

Apart from technical indicators, the movements in the market have also been indicating more interest in the Solana price. There has been an increase in trading volume, which is 3.45% to $8.55 billion, and there has been a rise in open interest as well, which is 1.19% to $5.83 billion.

SOL open interest and volume chart
Source: Coinglass

Furthermore, the interest-weighted funding rate is at 0.0088%, indicating that there is a relatively stable market that slightly favors positive outlooks. Such an outlook indicates cautious optimism with respect to Solana’s prices amid the need for support to be sustained to push prices up.

SOL OI Weighted chart
Source: Coinglass

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Hyperliquid Price Surges Toward Record High Amid Strong Momentum

Hong Kong HKDAP Stablecoin Finishes Ethereum Blockchain Test

By | Edited By Ammar Raza,,

The HKDAP stablecoin has successfully completed the Ethereum end-to-end transaction test, with Hong Kong stepping forward to advance its regulated digital asset framework. The trial included the issuance of tokens, redeeming them in bank balances, and fiat deposit under licensed supervision.

Anchorpoint Financial has conducted the HKDAP stablecoin test on May 13, 2026. The firm is licensed under the Stablecoins Ordinance in Hong Kong under FRS01 and collaborated with OSL Group and PantherTrade during the process.

Also Read: SF Holding Launches Hong Kong Gold Vault Amid Bullion Market Expansion

HKDAP Stablecoin First Transaction Under HKMA Rules

According to the report, the HKDAP stablecoin milestone is considered the first real-world transaction under Hong Kong’s Stablecoins Ordinance, which took effect on August 1, 2025. The Hong Kong Monetary Authority (HKMA) supervised the whole process.

During the test, Standard Chartered Hong Kong provided custody and trust services. They guaranteed that the HKDAP stablecoin was pegged 1:1 and backed by 100% reserves in Hong Kong dollars.

The stablecoin, known as “HKD At Par” (HKDAP), is designed to maintain the stablecoin’s parity with the Hong Kong dollar. It maintains its reserve assets in a controlled manner that meets the requirements of the HKMA.

The transaction was executed in a step-by-step manner, involving the exchange of fiat currency for HKDAP stablecoin tokens on the Ethereum blockchain. A controlled settlement mechanism then was provided for the redemption of tokens back into bank deposits.

Anchorpoint Financial led the technical execution of the HKDAP stablecoin test. The company was created in February 2025 as a joint venture between Standard Chartered Hong Kong, HKT, and Animoca Brands.

The test was supported by OSL Group, which noted that the HKDAP stablecoin project is an important step towards large-scale deployment. The company also will be increasing its investments in payments, liquidity, and settlement capabilities throughout digital asset services.

Source: HKMA

PantherTrade Joins HK Stablecoin Project

OSL Group CEO Kevin Cui said current infrastructure is ready to facilitate the trading of stablecoins and cross-border transfers. He said platforms like OSL StableHub and OSL BizPay will form part of a broader ecosystem connected to the HKDAP stablecoin.

PantherTrade, a subsidiary of Futu Group, was also involved in the project. Zhu Guyi, global head of digital assets at Futu, said that the project will allow regulated access to digital assets in Hong Kong dollars.

The HKDPM stablecoin test showcased the interoperability between blockchain-based settlement and traditional financial systems. It showed the ability to bridge fiat and on-chain environments with a regulated digital token under compliance supervision.

As more businesses have begun to enter the market, Hong Kong regulators have intensified their supervision of stablecoin activities. Previously, the HKMA has warned against fraudulent tokens that use names related to licensed issuers, such as HKDAP and HSBC.

The stablecoin by HKDP is expected for a phased-out public launch in the coming weeks. Authorities continue to focus on balancing financial innovation with investor protection as the regulated digital asset sector expands.

Also Read: Trump Media Bitcoin Losses Explode After $205M Transfer

CLARITY Act Faces Senate Delays Before Key August Crypto Regulation Deadline

By | Edited By Sahana Kiran,,

The CLARITY Act is at a critical juncture in Washington as legislators aim to pass the cryptocurrency markets bill before the congressional August recess. While there remains strong support for crypto legislation, recent setbacks in the Senate and competing policy interests have called the bill’s timeline into question.

Eleanor Terrett, a crypto journalist, claims that currently, there is another piece of legislation that will have to fight for its place on the floor of the Senate, namely CLARITY, amid conversations around reconciliation, FISA, and a housing bill that was passed by the House. There are several important questions before the US Congress.

Also Read | SUI Price Rises 6.50% as $0 Gas Fees and Strong Market Activity Drive Bullish Momentum

Senate Delay Hits Crypto Bill

The deadline issue became even more pressing as Senator John Thune, the Majority Leader, allegedly informed Republican senators that the Senate would not come back to work until June and still not finish its package. According to journalist Jake Sherman, the Senate would “go home until June,” leaving the bill unfinished.

This particular delay is believed to have been caused by disputes related to the funding language for the Department of Justice. Nevertheless, the delay itself brought up concerns regarding whether there is enough time left in order for Congress to pass the CLARITY Act before the recess of August begins. According to Terrett, there are not too many working weeks left until summer ends.

CLARITY Act Gains Senate Momentum

Even with the time crunch, however, Senator Cynthia Lummis is hopeful that the crypto bill will be able to pass this summer. In an interview with FOX Business, she made it clear that legislators are having ongoing conversations behind closed doors regarding crypto legislation, including the CLARITY Act.

According to Lummis, the plans for legislation involve combining the bill that has been passed by the Senate Banking Committee and another bill that has already been passed by the Senate Agriculture Committee. The focus of the latter is believed to be on the Commodity Futures Trading Commission’s jurisdiction within the cryptocurrency market.

She also noted that they are talking about including ethics issues as well as technical issues that have to do with the GENIUS Act before they present the entire bill to the Senate.

Meanwhile, policy analyst Patrick Wilson denied allegations that the CLARITY Act will relax the regulation of the cryptocurrency sector. According to him, the act actually entails new regulations, compliance policies, and even anti-money laundering guidelines aimed at increasing regulation.

Also Read | ONDO Price Shows Accumulation Signals After 82% Crash: Is a $5 Rally Next?

Mark Cuban Sells Majority Bitcoin Holdings After Hedge Doubts Emerge

By | Edited By Sahana Kiran,,

Mark Cuban has confirmed he has sold most of his Bitcoin holdings, recently stating the asset failed to function as a reliable macroeconomic hedge during recent geopolitical tensions and U.S. dollar fluctuations. The multi-billionaire mentioned that Bitcoin did not meet his expectations of being digital gold.

Cuban was known for maintaining a crypto portfolio that consisted mainly of Bitcoin and Ethereum. He believed Bitcoin to be better than gold as it could neither be manipulated nor controlled. He invested heavily in BTC and recommended that it be used as protection against money debasement and monetary inflation by governments through traditional financial institutions.

Speaking on the Front Office Sports podcast Portfolio Players, Cuban said his view changed after observing Bitcoin’s performance during geopolitical tensions involving Iran and dollar weakness. He noted that gold outperformed expectations while Bitcoin failed to behave consistently as a protective asset during market stress periods in recent observations.

Also Read | SpaceX Bitcoin Holdings Surge to $1.29 Billion After S-1 Filing Reveal

Bitcoin Holdings Debate Intensifies After Market Volatility

The anticipation for Bitcoin to perform as a hedge arises due to its capped supply of 21 million, decentralized nature, and global availability without involving banking institutions. Investors believed it would mirror gold during crises, rising when fiat currencies weakened, but Cuban argues these characteristics did not translate into consistent safe-haven performance.

Market statistics of the Iran conflict indicate varied outcomes where, according to Cuban, gold went up while Bitcoin fell short. However, Bitcoin has been performing well during the Iran conflict period, not gold. Overall, globally, conditions are observed.

Cuban Ethereum Stance and Bitcoin Holdings Debate

However, Cuban seems optimistic about Ethereum due to its use case and stronger ecosystem than the Bitcoin one. In addition, he favors regulations for the adoption of cryptocurrencies since more clearly established laws can facilitate the involvement of institutions in the crypto markets.

The uncertainty regarding whether Bitcoin should be considered digital gold or an asset carrying significant risks for the future. Market behavior continues to show correlation with equities during stress periods, leaving the classification of Bitcoin as a hedge or speculative instrument unresolved among institutional participants globally.

Meanwhile, Bitcoin is trading at $77,653 with a 24-hour decrease by 0.49%, indicating slightly bearish sentiments from traders amid volatility. Regardless of the current pullback in the price of Bitcoin, the asset still dominates the crypto landscape.

Bitcoin price chart
Source: CoinGecko

Also Read | Strategy Buys 3,273 BTC as Bitcoin Holdings Surge Past 818K

US Treasury Holdings Plunge: Turkey’s $14B Shock

By | Edited By Sahana Kiran,,

Escalating macroeconomic turmoil is forcing countries to reassess how they hold reserves, with implications for supplies of global liquidity and digital assets. In March, Turkey cut its own US Treasury holdings from $16 billion to $1.8 billion, an effort to support the lira through rising energy costs. This is just the beginning of how geopolitics and currency volatility are shaping sovereign assets, a trend that is front of mind for crypto and blockchain markets harvesting macro signals.

Treasuries, the Lira, and Crypto Capital

Central banks are normally large holders of liquid dollar-denominated reserves in the form of US Treasury holdings to defend their local currencies. Turkey’s very large sell-off of US Treasury holdings tends to be linked to its particular need for FX interventions due to the burden of rising energy imports on the lira. For digital investors, it raises awareness that the use of such measures to support fiat stability can and does distort capital flows, and the resulting global dollar liquidity shares tend to drive the Bitcoin/stablecoin flows.

US Treasury Holdings in March
Source: Bloomberg

Also Read: US Treasury Targets Iran-Linked Crypto Wallets, Freezes $344M in Digital Assets

Implications for Crypto Market Sentiment

Pour-overs when cyborg and Vietnam shift resources away from US Treasury holdings, wondering whether this spells the end of long-term dollar hegemony or offers currency-hedging alternative safe assets. Blockchains, in the form of crypto like Bitcoin, are promoted as non-sovereign safe assets against currency debasement. But in the short-term, reduced US Treasury holdings have a more ambiguous impact.

Mandatory reserve liquidation could constrict dollar supply and come as a headwind to risk assets. Even though the ongoing de-dollarization rhetoric could support wider crypto use.

Also Read: Bitcoin Rises On US Treasury Liquidity, Not Fed Policy

On-Chain Clarity vs Central Bank Secrecy

Another area this episode illuminates is the transparency deficiencies in the old financial system. Public blockchain networks provide instantaneous, auditable reserves, unlike the hidden policies of the central bank.

Stablecoin publishers and tokenized real-world assets more and more claim integrity through on-chain proof-of-reserves, a benchmark that could shape subsequent sovereign-digital-currency structures.

Also Read: US Treasury Sanctions Garantex and Grinex Over $100M in Illicit Crypto Transactions

Trump Media Bitcoin Losses Explode After $205M Transfer

By | Edited By Sahana Kiran,,

Trump Media Bitcoin holdings are under pressure again as Trump Media & Technology Group moved 2,650 Bitcoin to Crypto.com. The transfer was worth around $205 million at current prices.

Blockchain analytics platform Lookonchain flagged the transaction. The move marks the second major Bitcoin outflow from the company this year. Still, a transfer to an exchange does not always mean an immediate sale. The timing matters. Bitcoin trades far below the company’s average purchase price. That gap is now growing wider.

Also Read: SpaceX Bitcoin Holdings Surge to $1.29 Billion After S-1 Filing Reveal

Trump Media Bitcoin Holdings Keep Shrinking

Trump Media Bitcoin reserves once stood at 11,542 BTC. The company bought the stash at an average price of $118,522 per coin. In total, the firm deployed nearly $1.37 billion into Bitcoin.

Today, Bitcoin changes hands near $77,700. That leaves the position about 34% underwater. On paper, the unrealized loss now sits close to $455 million.

This is not the first large transfer. Four months ago, the company moved another 2,000 BTC worth around $175 million. At the time, Bitcoin traded near $87,378.

Following that transaction, Trump Media disclosed holdings of 9,542 BTC in its Q1 earnings report. After the latest transfer, the company’s Bitcoin treasury appears to have fallen again, this time to roughly 6,889 BTC.

Source: X

The shrinking reserve is drawing attention across the crypto market. Investors are watching closely to see whether these transfers become confirmed sales.

Trump Media Bitcoin Losses Deepen After Earnings Hit

The latest Bitcoin movement comes shortly after Trump Media posted a massive quarterly loss. Earlier this month, the company reported a net loss of $406 million.

Most of that damage came from unrealized markdowns tied to digital assets and equity securities. The filing showed that about $368.7 million of the loss came from those paper declines alone.

Trump Media also holds 756 million Cronos tokens, worth roughly $2.64 million. The company continues to maintain a broad crypto treasury strategy despite recent losses.

The next on-chain settlement window could reveal more. If the transferred Bitcoin leaves exchange wallets, the market may treat it as another confirmed sale.

Also Read: Bitcoin Cycle Analysis Shows Three Major Market Tops Over the Last Decade

FET Price Prediction: Bull Flag Pattern Points to Possible Breakout to $0.2350

By | Edited By Ammar Raza,,

Artificial Superintelligence Alliance (FET) is testing a key demand zone where technical signals suggest selling pressure may be fading and a short-term rebound for the FET price is if support holds. Indicators show early stabilization despite bearish momentum. Meanwhile, its new Agent Launchpad expands AI agents’ ability to raise funds and operate autonomously on-chain.

At the time of writing, FET is trading at $0.1928 with a 24-hour trading volume of $176.08 million and a market capitalization of $434.84 million. Despite the signs of stability over the last 24 hours, the FET bullish structure and strong network growth point to a breakout ahead.

FET Price chart

Source: CoinMarketCap

FET Price Signals 20% Bounce From Demand Zone

According to the crypto analyst Team LAMBO, the FET price is currently trading at a technically important zone where a bull flag structure meets a daily fair value gap, creating a strong confluence of support. 

The FET price has returned to this demand area after a prior impulsive move, suggesting potential exhaustion of selling pressure and increasing the likelihood of a short-term reversal.

FET Price Signals 20% Bounce From Demand Zone

Source: Team LAMBO’s X Post

If the buyers come to the rescue, then it will be possible to witness a FET rally of about 20% until resistance is encountered at the $0.2350 mark. 

If the FET price manages to move above the resistance level, then the bull flag formation will have broken out to the upside, resulting in further price increases within the uptrend.

Also Read: FET Price Analysis: The Price Could Fall Further If $0.20 Support Fails

FET Technicals Show Early SIgns of Stabilization

According to TradingView, the FET price is cooling off after an aggressive reversal from its high of $0.26000 in late March. 

The FET price is now trading close to the lower Bollinger Bands level of $0.17924 with the price sitting near $0.19319. Movement below the simple moving average of 20 days ($0.21145) suggests that selling pressure may be easing off.

FET Technicals Show Early SIgns of Stabilization

Source: TradingView

Momentum indicators continue to remain bearish; however, there are initial indications of weakness. The MACD line and the signal line both remain entrenched in the negative below zero. However, the reduction in size of the red MACD histogram bars is pointing towards weakening bearish momentum.

Fetch.ai Launches Agent Launchpad for AI Agent Funding

The data from Fetch.ai further highlighted that the firm now offers a tool known as Agent Launchpad, where the agent can create tokens and access funds from within the chain. 

The latest development provides extra abilities to agents, which goes beyond mere trading, negotiations, and coordination. The biggest challenge for the agents had always been their ability to be financially independent.

Fetch.ai Launches Agent Launchpad for AI Agent Funding

Source: Fetch.ai’s X Post

AI agents would be able to fund their own economic activities via decentralized means, using tokens for incentive structures to remain active and alive. 

This is a move that points towards an age of agentic economics, where systems are not tools but rather economic actors. This also brings into focus other issues regarding self-governance and self-control within such an environment.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: FET Price Outlook: Can Buyers Break Resistance and Reach $0.60?

NEAR Price Eyes $2.50 Breakout Amid Bullish Momentum and Network Growth

By | Edited By Ammar Raza,,

NEAR Protocol (NEAR) is showing bullish momentum, holding support and pushing upward toward resistance zones, though there is short-term pullback risk for the NEAR price due to strong momentum signals. However, integration with RocketX Exchange enhances cross-chain trading, liquidity access, and execution efficiency across networks.

At the time of writing, NEAR is trading at $1.79 with a 24-hour trading volume of $423.87 million and a market capitalization of $2.32 billion. As the NEAR price has surged by 7.2% over the last 24 hours, it means that the token is poised for a breakout to new highs.

NEAR price Eyes Bullish Breakout Toward $2.50

According to the crypto analyst Michaël van de Poppe, the NEAR price is showing strong technical resilience as it holds a key support zone, reinforcing a continued bullish structure. 

The NEAR price action suggests accumulation rather than weakness, with traders viewing the trend as intact. Attention is now on resistance at $2.00, followed by $2.25–$2.50, where momentum may face its next test.

NEAR price Eyes Bullish Breakout Toward $2.50

Source: Michaël van de Poppe

The market players see the strength of NEAR amid the Bitcoin attack as an encouraging signal regarding interest in altcoins. 

Since there is a clear uptrend for the NEAR price without any weakness below, sentiment remains bullish. Traders will be holding onto their positions in hope of profits if the NEAR price moves up toward major resistance levels.

Also Read: NEAR Price Analysis Shows 60% Recovery From $0.90 Zone to Potential $2 High

Momentum Indicators Point to Strong Bullish Outlook

According to TradingView, the NEAR price is currently caught up in a strong bullish trend. After stabilizing around the $0.94 level, the NEAR price continued its rise by forming a series of higher lows, breaking through resistance levels of $1.40 and $1.50. The rising level now stands at $1.7902 after the formation of a series of green candles.

Momentum Indicators Point to Strong Bullish Outlook

Source: TradingView

The technical indicators reveal that momentum is building up quite rapidly. The Relative Strength Index is at 72.96, having risen above its moving average to enter the overbought region. 

This represents a massive amount of buying activity. In addition to this, there has been a crossover between the MACD line and signal line, while the green histogram bars continue to widen.

NEAR Intents Expands into RocketX Exchange

The data from the NEAR protocol further highlighted that the incorporation of NEAR Intents in RocketX Exchange has been achieved; the latter is an advanced multi-chain swapping aggregator, which has already facilitated over one million swaps. 

By being included in the platform, NEAR Intents becomes a swap route provider in the execution layer, thereby making trades more efficient through the process of route discovery.

NEAR Intents Expands into RocketX Exchange

Source: NEAR protocol’s X Post

The NEAR Protocol provides the foundation for NEAR Intents, enabling users to specify their intentions, with the routing process occurring invisibly in the background. 

In the RocketX ecosystem, such an integration enables enhanced liquidity exposure, reduces friction, and increases the efficiency of execution, resulting in a more efficient swapping process.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: NEAR Price Analysis: Strong Breakout Above $1.60 Fuels Hope for a $2 Rally

RENDER Price Analysis: Bulls Defend Critical Support With a $5 Rally in Focus

By | Edited By Ammar Raza,,

RENDER price remains bullish despite market weakness, holding key support while consolidating below major resistance, with analysts expecting a breakout that could drive strong upward momentum as technical indicators continue signaling healthy accumulation and further upside potential.

At the time of writing, HYPE is trading at $1.92 with a 24-hour trading volume of $53.51 million and a market capitalization of $996.66 million. Following the signs of stability over the last 24 hours, the focus is on whether the token could maintain its momentum or lead to deeper retracements.

RENDER Price chart

Source: CoinMarketCap

Also Read: RENDER Price Prediction: Breakout Above $2.05 Could Trigger Strong Rally

RENDER Price Eyes $5 Rally After Holding Support

Furthermore, the crypto analyst Team LAMBO revealed that the RENDER price has continued to show exceptional strength during the recent crypto market retracement, holding its breakout structure while many altcoins experienced deeper corrections. 

The asset remains firmly above key support levels, signaling strong buyer confidence and maintaining its higher timeframe bullish trend. Analysts believe this resilience could position RENDER for another major upward move soon.

Price movement appears to be gaining traction just above the important $2.10 resistance level, where traders believe there is potential for another breakout. 

Once the RENDER price manages to break above this level, it may pave the way for strong positive momentum, driving prices towards the $2.50 and $3.00 levels in the short run. Market sentiment remains upbeat, and technical indicators continue to support this optimism.

RENDER Price Eyes $5 Rally After Holding Support

Source: Team LAMBO’s X Post

The breakout witnessed presently developed from a large build-up structure that took nearly two years to develop, and this lends extra significance to the current setup as far as investors who have a long-term view are concerned. 

In the higher timeframes, there is still evidence that suggests that the RENDER price may end up near the $5.00 mark with time. As long as the supports stay intact, any dip will be seen as an opportunity to retrace the existing trend for the RENDER price.

RSI and EMAs Point to a Bullish Outlook

According to TradingView, after falling to $1.25 in March, the RENDER price is bouncing back, moving within an ascending but bumpy channel. 

The RENDER price formed robust floors for support using the short-term 20, 50, and 100 exponential moving averages (EMAs). Currently trading near $1.92, the token exhibits an obvious setup of higher lows formed during spring.

RSI and EMAs Point to a Bullish Outlook

Source: TradingView

The technical indicators suggest a squeeze right below the 200-day EMA of $2.02, which acts as strong resistance above. The EMA range between $1.81 and $1.87 serves as support and limits any downside movement for the RENDER price. 

Moreover, a neutral RSI reading of 55.27 shows even momentum, allowing ample scope for an explosive breakout.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: RENDER Price Prediction: Strong Fundamentals Could Fuel Long-Term Move to $50

Ethereum Price Struggles Below Key Resistance, Eyes Recovery Toward $2,200

By | Edited By Ammar Raza,,

Ethereum (ETH) price is weak after it continued trading below important resistance zones, though maintaining its position close to the significant support zone from which its future action can be determined.

At the time of writing, ETH is trading at $2,130.02. The asset has recorded a 24-hour trading volume of $15.94 billion and a market capitalization of $257.10 billion. Over the last 24 hours, the Ethereum price has declined by 0.43%, reflecting continued selling pressure across the market.

Ethereum price chart

Source: CoinMarketCap

Also Read | Terra Collapse: Jane Street Accused of $192M UST Insider Exit

ETH Price Awaits Breakout Confirmation

On May 21, 2026, a popular crypto analyst, More Crypto Online, reported that the Ethereum price stays below an important resistance level from $2,156 to $2,200. This indicates that the market remains vulnerable to more declines in case the resistance holds.

ETH Price Awaits Breakout Confirmation

Source: More Crypto Online’s X Post

Meanwhile, the ETH price is now probing a critical support zone from which it can experience a corrective bounce in the short term. The ongoing setup is not out of a 1-2 setup towards the upside, though this will happen only on the condition that the Ethereum price manages to hold its support level, ranging from $2,066 to $2,099.

But then again, there is always risk involved. If the ETH price falls below the level of $2,040 with good momentum, it will be quite difficult for this trend to continue.

The key areas of support for Ethereum price are found at $2,099, $2,066, and $2,040, with resistance at $2,156 and $2,200. Unless the resistance level is breached, it would appear that the Ethereum.

Momentum Signals for Ethereum Price

Momentum oscillators are also indicating an ongoing downtrend in the price of Ethereum. The relative strength index (RSI) is down at 36.87 levels, which is below its average level of 44.00 and is inching towards oversold territory. This indicates that the sellers have become dominant in the market.

The ETH price is also currently trading below the 20-day simple moving average, valued at $2,258, and the 50-day simple moving average at $2,262, indicating that trend conditions remain unfavorable.

Momentum Signals for Ethereum Price

Source: TradingView

The MACD indicator remains bullish towards the Ether price trend. MACD is at -43.16 while the signal is at -21.24, with the MACD Histogram sitting at -21.91. This indicates continued downside momentum. The price of Ether may continue to find it tough unless it returns above $2,250-$2,260.

Overall, the ETH price is currently at a crucial support level; however, a break above resistance would be necessary for confirmation of an upturn.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Crypto Scam: India Busts ₹226 Cr USDT Terror Network