I started looking into Bitcoin since 2019 and observing market since then. Here I will express my views on Bitcoin based on my prior experience. Any view should not be considered as a financial advice.

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As the crypto market bounces, a key indicator has flashed a key bullish signal 
on the Ethereum (ETH) daily chart, suggesting the end of its six-month 
downtrend could be near. However, some analysts have warned investors of a 
possible bull trap and a subsequent reversal to new lows. Related Reading: 
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Trend Reversal Ethereum kicked off the week by breaking above $2,200 for the 
first time in weeks, reaching a one-month high of $2,320 on Monday morning. 
The cryptocurrency has been trading between $1,825 and $2,150 since the early 
February crash, failing to break out of this range despite multiple attempts. 
Over the past week, the King of Altcoins has bounced 20% from last Sunday’s 
lows, printing seven consecutive green candles in the daily timeframe. Amid 
this performance, ETH has weekly closed above the $2,000-$2,150 area, setting 
the stage for a potential retest of the one-month resistance as support. 
Market observer MacroCRG affirmed that ETH is currently the strongest out of 
the big three: Bitcoin, Ethereum, and Solana. Notably, it has rallied over 
9.7% and 14.5% in the weekly and daily timeframes, recording the strongest 
performance among the top 10 cryptocurrencies by market capitalization. In 
addition, it has moved above the 50-day Moving Average (MA) for the first time 
in 56 days and is back into the 12H Ichimoku Cloud for the first time in 55 
days. Analyst Ali Martinez shared that another key indicator used to identify 
the current market trend had flashed its first bullish signal in six months, 
which “just signaled the end of the downtrend.” According to the X post, the 
SuperTrend indicator has flipped from Sell to Buy for the first time since 
September, highlighting the cryptocurrency’s price breakout and institutional 
demand. As he noted, in the last two instances in which the SuperTrend showed 
a Buy signal, Ethereum rallied 52% and 174%, with the latest move leading to 
its August all-time high (ATH) of $4,946. “We’ve survived the grind from 
September to March,” the analyst asserted. “The next key levels to watch are 
$2,400 and $2,600.” Breakout Or Bull Tap? Market watcher Ted Pillows also 
underscored ETH’s recent performance, asserting that now that $2,150 was 
reclaimed, “there’s not much resistance for Ethereum until the $2,400 zone.” 
However, he warned that the bullish momentum may be short-lived, suggesting a 
bull trap could be unfolding and a reversal toward its potential market bottom 
could follow the ongoing price move. “IMO, ETH could tap the $2,400 zone, as I 
have been saying for days, before a reversal to new lows,” the X post reads. 
Related Reading: XRP Gearing Up For 1,300% Rally? Analyst Sets Bold $48 Target 
For Next Bull Run The analyst explained that Ethereum has been trading 
sideways, consolidating between two key liquidity clusters: one around 
$2,200-$2,600 and another around $1,400-$1,700. He suggested that both 
liquidity clusters will be taken out in the near future. “First, Ethereum 
could rally towards the $2,400 level to wipe out late shorts. Then, ETH will 
start its reversal and hit new lows,” he cautioned. Featured Image from 
Unsplash.com, Chart from TradingView.com

The End Of Ethereum’s Downtrend? Key Indicator Flashes First Bullish Signal Since September

The SEC has proposed narrowing Rule 15c2-11 to equity securities only, and is 
now seeking comment on whether it should apply to certain crypto assets, among 
other questions.

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XRP price started a major increase above $1.50. The price is now consolidating 
gains and might aim for more gains above the $1.60 zone. XRP price started a 
steady upward move above the $1.50 zone. The price is now trading above $1.50 
and the 100-hourly Simple Moving Average. There is a key bullish trend line 
forming with support at $1.5220 on the hourly chart of the XRP/USD pair (data 
source from Kraken). The pair could continue to move up if it settles above 
$1.580. XRP Price Extends Its Surge XRP price started a major upward move 
above $1.450 and $1.480, like Bitcoin and Ethereum. The price gained pace for 
a clear move above the $1.50 resistance. The bulls even pumped the price 
toward the $1.550 zone. A high was formed at $1.6068 and the price started a 
minor pullback. There was a drop below the 23.6% Fib retracement level of the 
upward move from the $1.3855 swing low to the $1.6068 high. The price is now 
trading above $1.50 and the 100-hourly Simple Moving Average. There is also a 
key bullish trend line forming with support at $1.5220 on the hourly chart of 
the XRP/USD pair. If there is a fresh upward move, the price might face 
resistance near the $1.5650 level. The first major resistance is near the 
$1.580 level, above which the price could rise and test $1.60. A clear move 
above the $1.60 resistance might send the price toward the $1.6250 resistance. 
Any more gains might send the price toward the $1.6320 resistance. The next 
major hurdle for the bulls might be near $1.650. Downside Correction? If XRP 
fails to clear the $1.580 resistance zone, it could start a fresh decline. 
Initial support on the downside is near the $1.520 level and the trend line. 
The next major support is near the $1.470 level or the 61.8% Fib retracement 
level of the upward move from the $1.3855 swing low to the $1.6068 high. If 
there is a downside break and a close below the $1.470 level, the price might 
continue to decline toward $1.450. The next major support sits near the $1.420 
zone, below which the price could continue lower toward $1.3880. The main 
support could be $1.3680. Technical Indicators Hourly MACD – The MACD for 
XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength 
Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – 
$1.520 and $1.470. Major Resistance Levels – $1.580 and $1.60.

XRP Price Climbs to $1.60 — Downside Seen Limited by Strong Support

“What’s a better time to cut interest rates than now? A third-grade student 
would know that,” said US President Donald Trump.

Trump ups pressure for Fed chair Powell to cut rates ‘right now’

Argentina&#8217;s ban on Polymarket may hinder access to global prediction markets, 
impacting financial transparency and innovation in the region.
The post Argentina blocks access to Polymarket after early bets on February 
inflation appeared first on Crypto Briefing.

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