Coin Market

Price analysis 3/31: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON

Published

2 weeks ago

March 31, 2025

Bitcoin (BTC) fell 4.29% last week, but the bulls started a recovery by pushing the price back above $83,500 on March 31. However, traders are likely to remain on edge until April 2, when new US trade tariffs are set to kick in. The event could trigger a sharp, knee-jerk reaction on either side of the market.

Traders remain cautious in the near term, but a minor positive is that lower levels are attracting buyers. Cryptocurrency exchange-traded products (ETPs) witnessed modest inflows of $226 million last week, CoinShares reported on March 31.

Daily cryptocurrency market performance. Source: Coin360

Strategy took advantage of the pullback in Bitcoin by adding 22,048 Bitcoin for $1.92 billion at an average price of $86,969. After the latest purchase, the company holds 528,185 Bitcoin bought for roughly $35.63 billion.

Could Bitcoin break above the stiff overhead resistance, pulling select altcoins higher? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index (SPX) broke above the 20-day exponential moving average (5,706) on March 24, but that proved to be a bull trap.

SPX daily chart. Source: Cointelegraph/TradingView

The price turned down sharply on March 26 and broke below the 5,600 support. Both moving averages are sloping down, and the relative strength index (RSI) is in the negative territory, indicating an advantage to sellers. There is solid support at 5,500, but if the level breaks down, the index could tumble to 5,400 and subsequently to 5,100.

This negative view will be invalidated if the price turns up from the current level and breaks above 5,800. Such a move suggests that the index may have bottomed out in the near term.

US Dollar Index price analysis

The US Dollar Index (DXY) has been trading below the 20-day EMA (104.46), indicating that the sentiment remains negative.

DXY daily chart. Source: Cointelegraph/TradingView

The bears will try to sink the index to 103.37, which is a critical level to watch out for. Buyers are expected to defend the 103.37 level with all their might because if they fail in their endeavor, the index could plunge to 101.

Contrarily, a break and close above the 20-day EMA suggests that the bulls are trying to make a comeback. The index may rise to 105.42 and then to the 50-day simple moving average (106.09).

Bitcoin price analysis

Bitcoin remains under pressure as bears are trying to sink the price to the critical support at $80,000. A minor positive in favor of the bulls is that they are attempting to arrest the decline at $81,100.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to push the price to the resistance line, which is likely to attract strong selling by the bears. If the price turns down from the resistance line, the likelihood of a break below $80,000 increases. The BTC/USDT pair could slump to $76,606 and eventually to $73,777.

On the contrary, a break and close above the resistance line suggests that the bears are losing their grip. The pair could pick up momentum above $89,000 and rally toward $95,000.

Ether price analysis

Ether (ETH) has reached the vital support at $1,754, from where the bulls are trying to start a relief rally.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The bears will try to halt the recovery attempt at the 20-day EMA ($1,980). If the price turns down sharply from the 20-day EMA, it increases the possibility of a break below $1,754. That could sink the ETH/USDT pair to $1,550.

The first sign of strength will be a break and close above the breakdown level of $2,111. The pair will then complete a bullish double-bottom pattern, which has a target objective of $2,468.

XRP price analysis

XRP (XRP) has dropped to the critical $2 support, which is likely to attract solid buying by the bulls.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Any bounce is expected to face selling at the moving averages. If the price turns down from the moving averages, it heightens the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. There is minor support at $1.77, but if the level gets taken out, the pair could collapse to $1.27.

Time is running out for the bulls. If they want to prevent the downside, they will have to quickly drive the price above the moving averages. The pair may then travel to the resistance line.

BNB price analysis

BNB’s (BNB) narrow range resolved to the downside with a break and close below the moving averages on March 29.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The BNB/USDT pair has support at the 38.2% Fibonacci retracement level of $591 and then at the 50% retracement level of $575. If the price rebounds off the support, the bulls will try to propel the pair above the moving averages and the $644 resistance. If they manage to do that, the pair could rally to $686.

Contrarily, a break and close below $575 could sink the pair to the 61.8% retracement level of $559. A deeper pullback is likely to delay the next leg of the up move.

Solana price analysis

Solana (SOL) is finding support near $120, indicating that the buyers are fiercely defending the level.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The first sign of strength will be a break and close above the 20-day EMA ($133). That opens the doors for a rise to the 50-day SMA ($148), which may again act as a stiff resistance. However, if buyers pierce the resistance, the SOL/USDT pair could rally to $180.

If sellers want to strengthen their position, they will have to pull the price below the $120 to $110 support zone. If they manage to do that, the pair could start the next leg of the downtrend toward $80.

Dogecoin price analysis

Dogecoin (DOGE) is trying to take support at the $0.16 support, but a weak bounce suggests a lack of demand from the bulls.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The DOGE/USDT pair could skid to $0.14, where the buyers are expected to step in. Any bounce-off of $0.14 is expected to face selling at the moving averages. If the price turns down from the moving averages, it increases the possibility of a break below $0.14. If that happens, the pair could plummet to $0.10.

Buyers will have to push and maintain the price above $0.20 to suggest that the pair may have formed a floor at $0.14. The pair may then ascend to $0.24.

Cardano price analysis

Cardano (ADA) has slipped to the uptrend line, which is an important near-term support to watch out for.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The downsloping 20-day EMA ($0.71) and the RSI in the negative territory signal a slight advantage to the bears. A close below the uptrend line could start a downward move toward $0.50.

On the other hand, a bounce off the uptrend line could push the ADA/USDT pair toward the moving averages. Buyers will be back in control after they propel and maintain the price above the 50-day SMA ($0.75).

Toncoin price analysis

Toncoin (TON) is getting squeezed between the 20-day EMA ($3.63) and the overhead resistance at $4.14.

TON/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA and the RSI in the positive territory suggest the path of least resistance is to the upside. If buyers drive the price above $4.14, the TON/USDT pair is likely to pick up momentum and climb to $5 and later to $5.65.

This positive view will be invalidated in the near term if the price turns down from the overhead resistance and breaks below the 50-day SMA ($3.46). That could sink the pair to $3.30 and later to $2.81.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Chipmaker stocks slide as Nvidia faces $5.5B charge with US restrictions

Published

2 hours ago

April 16, 2025

Chipmaking giants Nvidia and AMD have seen their share prices slide in after-hours trading after Nvidia said US restrictions on artificial intelligence chips to China would cause it to face major costs.

Nvidia stated in an April 15 regulatory filing that it is expecting around $5.5 billion in charges associated with its AI chip inventory due to significant export restrictions imposed by the US government affecting the company’s business with China.

Nvidia said that the US government informed it on April 9 that export licenses are now required for its popular H20 integrated circuits and any chips with similar bandwidth capacity.

“First quarter results are expected to include up to approximately $5.5 billion of charges associated with H20 products for inventory, purchase commitments, and related reserves.”

The restrictions specifically mention China, Hong Kong and Macau, and the government indicated that the license requirement “addresses the risk that the covered products may be used in, or diverted to, a supercomputer in China.”

The H20 is the most advanced AI chip Nvidia can export to China under previous export rules. Government officials have been calling for stronger export controls on the chip, which was reportedly used to train models from China-based AI startup DeepSeek.

The Trump administration initially put the restrictions on hold following President Donald Trump’s meeting with Nvidia CEO Jensen Huang earlier this month, NPR reported.

On April 14, Nvidia announced that it would spend hundreds of millions of dollars over the next four years manufacturing some AI chips in the US.

However, that has not prevented the stock slump in light of the latest filing and predicted impact on its upcoming revenue report. “Truly no company is safe from tariffs,” commented the Kobeissi Letter.

Nvidia’s first quarter of fiscal year 2026 ends on April 27.

Nvidia, AMD stocks slump after hours

Shares in Nvidia (NVDA) fell 6% in after-hours trading on April 15 to $105, according to Google Finance.

Nvidia’s share price is down 22% so far this year, slumping in a wide market rout caused by Trump’s escalating trade war and tariff threats.

NVDA price tanks in after-hours trading. Source: Google Finance

Rival chipmaker Advanced Micro Devices (AMD) saw a similar share price drop, falling more than 7% to $88.55 in after-hours trading. AMD shares have declined by more than 25% since Jan. 1.

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Coin Market

Bitcoin’s wide price range to continue, no longer a ‘long only’ bet — Analyst

Published

2 hours ago

April 16, 2025

Bitcoin could be heading into another extended consolidation phase, with short-term indicators suggesting a more bearish outlook, contrary to the broader crypto community’s view, according to the head of research at 10x Research.

While many crypto analysts predict new Bitcoin (BTC) all-time highs by June, Markus Thielen said in an April 14 markets report that he is skeptical, pointing out that onchain data signals “more of a bear market environment than a bullish one.”

Short-term indicators signal potential market top

Thielen said the Bitcoin stochastic oscillator — which compares a particular closing price to a range of prices over a specific period to determine momentum — shows patterns “more typical of a market top or late-cycle phase rather than the early stages of a new bull run.”

Bitcoin is trading at $83,810 at the time of publication. Source: CoinMarketCap

“As a result, short-term signals are not aligning with longer-term indicators, highlighting the disconnect in the market outlook,” Thielen said.

“Bitcoin is no longer a parabolic ‘Long-Only’ retail-driven market,” he added, explaining it now “demands a more sophisticated, finance-oriented approach.”

“Bitcoin’s rally over the past year hasn’t been driven by typical ‘crypto-bro’ speculation but by long-term holders seeking diversification and adopting a buy-and-hold strategy,” Thielen said.

Over the past 12 months, Bitcoin is up 32.80% and is trading at around $83,810 at the time of publication, according to CoinMarketCap.

Bitcoin price action may repeat 2024 pattern

Thielen reiterated his stance that Bitcoin may consolidate for an extended period, much like it did in 2024.

“Despite our cautious optimism, we view Bitcoin as trading within a broad range of $73,000 to $94,000, with a slight upward bias,” he said.

In March 2024, Bitcoin reached its then-all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 until Donald Trump won the US elections in November.

Many crypto analysts are eyeing June as the month when Bitcoin could surpass its current all-time high of $109,000, which it reached in January just before Trump’s inauguration.

Swan Bitcoin CEO Cory Klippsten told Cointelegraph in early March that “there’s more than 50% chance we will see all-time highs before the end of June this year.”

Sharing a similar view, Bitcoin network economist Timothy Peterson and Real Vision chief crypto analyst Jamie Coutts have also marked June as when Bitcoin could reach a new high.

“It is entirely possible Bitcoin could reach a new all-time high before June,” Peterson said.

Meanwhile, Coutts said, “The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out.”

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Aztec launches StealthNote app giving privacy to corporate whistleblowers

Published

3 hours ago

April 16, 2025

Developers behind the Ethereum layer 2 Aztec Network have launched a whistleblowing platform called StealthNote that allows workers to vent about their employer without revealing themselves.

StealthNote uses zero-knowledge proofs to prove that posts on its platform are written by someone with access to an email address of the company that they’re reviewing.

Aztec Labs developer Saleel Pichen wrote in an April 14 X post that StealthNote creates a zero-knowledge proof of a Google JSON Web Token, which is used to authenticate users and allows the platform to prove a poster owns “an email from a company domain without revealing any personal info.”

Two of the latest posts on StealthNote from personnel at Aztec Labs and Cornell University. Source: StealthNote.xyz

According to Aztec’s documentation, the privacy solution had been in development since at least Oct. 22, while the first test post from Aztec occurred about three months ago.

Workers from Ethereum Foundation, StarkWare and Scroll as well as Columbia and Cornell universities have made posts on StealthNote, primarily sharing greetings and voicing their support for privacy solutions.

“Let’s make privacy cool again,” a worker from Nim Network wrote.

ZK-proofs needed more than ever, says Buterin

ZK-proofs have become an increasingly used privacy solution in the internet age as concerns over data security and government surveillance continue to grow.

The concerns were raised in an April 14 blog post by Ethereum co-creator Vitalik Buterin, who criticized the assumption that governments are generally well-intentioned when it comes to sacrificing privacy for a more “transparent society.”

He championed ZK-proofs as a solution to mitigate this trade-off, highlighting the technology’s ability to provide “fine-grained control of who can see what information.”

The privacy-focused Aztec Network launched on Ethereum in February 2020.

The firm raised $100 million in Series B funding led by the tech-focused venture capital firm Andreessen “a16z” Horowitz in December 2022, with A Capital and King River also contributing.

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