Coin Market

Price analysis 4/4: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON, LEO, LINK

Published

3 weeks ago

April 4, 2025

Bitcoin (BTC) price has managed to stay above the $80,000 level as volatility wrecked US stock markets on April 3 and April 4. The failure of the bears to capitalize on the opportunity shows a lack of selling at lower levels.

Risky assets were rattled after US President Donald Trump announced reciprocal tariffs on several countries on April 2. The fall in the US markets deepened on April 4 after China announced a retaliatory tariff of 34% on all imported US goods starting April 10.

While several market participants are concerned about the near-term impact of tariffs, BitMEX co-founder Arthur Hayes said he loves tariffs since he expects them to be positive for Bitcoin and gold in the medium term.

Crypto market data daily view. Source: Coin360

On the more cautious side was market commentator Byzantine General, who said in a post on X that the cryptocurrency market’s upside would be limited due to possible tariff responses.

Capriole Investments founder Charles Edwards said in his analysis that Bitcoin would turn bullish on a break and close above $91,000. If that does not happen, he anticipates Bitcoin to fall to the $71,000 zone.

Could Bitcoin outperform by staying above $80,000? Will the altcoins crumble? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin rose above the resistance line on April 2, but the long wick on the candlestick shows solid selling at higher levels. The price turned down sharply and broke below the 20-day exponential moving average ($84,483).

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The bears will have to sink the price below the $80,000 support to strengthen their position. If they do that, the BTC/USDT pair could retest the March 11 low of $76,606. Buyers are expected to defend this level with all their might because a break and close below $76,606 could sink the pair to $73,777 and eventually to $67,000.

The crucial resistance to watch out for on the upside is $88,500. A break and close above this level will signal that the corrective phase may be over. The pair could then start its journey toward $95,000.

Ether price analysis

Ether (ETH) has been trading between the $1,754 support and the 20-day EMA ($1,928) for the past few days.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

That increases the likelihood of a break and close below $1,754. If sellers can pull it off, the ETH/USDT pair could start the next leg of the downtrend to $1,550.

A minor positive in favor of the bulls is that the relative strength index (RSI) has formed a positive divergence. That suggests the bearish momentum may be weakening. If the price rebounds off $1,754, the pair could face selling at the 20-day EMA. However, if buyers overcome the obstacle, the pair could rally to $2,111. A short-term trend reversal will be signaled on a close above $2,111.

XRP price analysis

XRP (XRP) bears successfully defended the 20-day EMA ($2.23) on April 2 and pulled the price to the critical support at $2.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The downsloping 20-day EMA and the RSI below 44 increase the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. The pair has support at $1.77, but if the level gets taken out, the decline could extend to $1.27.

Buyers have an uphill task ahead of them if they want to prevent the breakdown. They will have to swiftly push the price above the 50-day simple moving average ($2.37) to clear the path for a relief rally to the resistance line.

BNB price analysis

BNB (BNB) bulls failed to push the price back above the moving averages in the past few days, indicating selling at higher levels.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The moving averages have started to turn down, and the RSI is in the negative zone, signaling a minor advantage for the bears. There is support at the 50% Fibonacci retracement level of $575 and next at the 61.8% retracement level of $559.

On the upside, the bulls will have to push and maintain the price above the 50-day SMA ($614) to signal a comeback. The BNB/USDT pair may rise to $644, which is a critical overhead resistance to watch out for. If buyers overcome the barrier at $644, the pair may travel to $686.

Solana price analysis

Solana (SOL) rose above the 20-day EMA ($128) on April 2, but the bears sold at higher levels and pulled the price below the $120 support.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The downsloping moving averages and the RSI in the negative territory heighten the risk of a break below $110. If that happens, the selling could intensify, and the SOL/USDT pair may plummet to $100 and subsequently to $80.

The bulls are unlikely to give up easily and will try to keep the pair inside the $110 to $260 range. Buyers will have to push and maintain the price above $147 to suggest that the selling pressure is reducing. The pair may then ascend to $180.

Dogecoin price analysis

Dogecoin (DOGE) bears thwarted attempts by the bulls to push the price above the 20-day EMA ($0.17) on April 2.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

A positive sign in favor of the bulls is that they have not allowed the price to slide below the $0.16 support. A break above the 20-day EMA could push the price to the 50-day SMA ($0.19). Buyers will have to overcome the 50-day SMA to start a rally to $0.24 and later to $0.29.

Alternatively, if the price turns down from the moving averages and breaks below $0.16, it will clear the path for a drop to $0.14. Buyers are expected to fiercely defend the $0.14 support because a break below it may sink the DOGE/USDT pair to $0.10.

Cardano price analysis

Cardano (ADA) turned down sharply from the 20-day EMA ($0.69) on April 2 and closed below the uptrend line.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are trying to push the price back above the uptrend line but are likely to face solid selling at the 20-day EMA. If the price turns down from the overhead resistance, the ADA/USDT pair could descend to $0.58 and then to $0.50.

This negative view will be invalidated in the near term if the price turns up sharply and breaks above the 50-day SMA ($0.74). That opens the doors for a rally to $0.84, which may attract sellers.

Toncoin price analysis

Toncoin’s (TON) failure to maintain above the $4.14 resistance on April 1 may have tempted short-term traders to book profits.

TON/USDT daily chart. Source: Cointelegraph/TradingView

The TON/USDT pair broke below the 20-day EMA ($3.65) on April 3, indicating that the bullish momentum is weakening. There is support at $3.32, but if the level cracks, the pair may drop to $2.81.

Instead, if the price rebounds off $3.32, the pair could attempt to form a range in the near term. The pair could swing between $3.32 and $4.14 for some time. A break and close above $4.14 will signal that the downtrend may be over. The pair could then jump to $5.

UNUS SED LEO price analysis

UNUS SED LEO (LEO) bears pulled the price below the uptrend line on March 2 but could not sustain the lower levels. That suggests buying at lower levels.

LEO/USD daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($9.57) is turning down gradually, and the RSI is in the negative zone, signaling a slight advantage to the bears. If the price turns down from the moving averages, the bears will make one more attempt to sink the LEO/USD pair below the $8.84 support. If they succeed, the pair may tumble to $8.

Contrarily, a break above the moving averages opens the doors for a rise to the overhead resistance of $9.90. If buyers pierce the $9.90 resistance, the pair will complete a bullish ascending triangle pattern. The pair may then climb toward the target objective of $12.04.

Chainlink price analysis

Chainlink (LINK) once again turned down from the 20-day EMA ($13.98) on March 2, indicating that the bears continue selling on rallies.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The LINK/USDT pair has strong support in the zone between $12 and the support line of the descending channel pattern. A rebound off the support zone will have to rise above the moving averages to signal a stronger recovery toward $17.50.

Sellers are likely to have other plans. They will attempt to pull the price below the support line. If they can pull it off, the pair could extend the downtrend toward the crucial support at $10 and, after that, to $8.

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

Bitget takes legal action on alleged VOXEL futures price manipulation

Published

12 minutes ago

April 28, 2025

Crypto exchange Bitget says it is sending letters from its lawyers to account holders it alleges were involved in manipulating the price of perpetual futures contracts tied to the VOXEL token.

Eight account holders that the exchange accuses of being involved in the April 20 incident and who allegedly pocketed $20 million between them will receive a letter from the exchange’s lawyers in “quick succession,” Xie Jiayin, Bitget’s head of Chinese operations, said in an April 27 X post.

“These eight accounts are the main instigators of the VOXEL incident and have improperly gained more than 20 million US dollars from it,” she said, according to a translation of the post.

“Except for these eight accounts, all other users who participated in VOXEL trading on April 20 and have withdrawn funds do not need to worry,” she added. “The accounts have been restored to normal and no responsibility will be pursued in the future.”

Source: Xie Jiayin

On April 20, Bitget said it discovered “abnormal trading activity” on its VOXEL/USDT perpetual futures contract and paused accounts it suspected of market manipulation.

The trading pair clocked over $12 billion in volume, dwarfing the metrics of the same contract on Binance. After the pause, Bitget rolled back the irregular trades to claw back the gains.

At the time, Bitget CEO Gracy Chen told Cointelegraph that the trades were between individual market participants, not the platform itself, and insisted the losses were not platform-wide and user funds remained safe.

Bitget still investigating cause of incident

Jiayin said Bitget plans to distribute 100% of the recovered funds to affected users through airdrops while a complete incident report is still in the works.

Some X users claimed the incident was caused by a bug in a market maker bot, which caused VOXEL’s excessive volume. Traders who spotted the suspected bug early used high-leverage bets to boost their profits in a zero-cost exploit.

VOXEL is the native utility token of Voxies, a free-to-play, 3D turn-based tactical RPG game built on the Ethereum blockchain.

Decentralized exchange Hyperliquid suffered a similar incident on March 27, when a whale allegedly exploited the liquidation parameters to profit at least $6.26 million on the Jelly my Jelly (JELLY) memecoin.

Hyperliquid has since delisted perpetual futures tied to the JELLY token, citing evidence of suspicious market activity as the reason for the decision.

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Coin Market

Bitcoin acts like ‘store of value that it is’ amid Trump policy chaos: NYDIG

Published

1 hour ago

April 28, 2025

Bitcoin is starting to act as a store of value during times of “US-risk-off” sentiment, marking a potential shift in its relationship with traditional assets, according to the New York Digital Investment Group.

Bitcoin (BTC) felt “noticeably different” over the trading week ended April 25, NYDIG’s global head of research Greg Cipolaro said in an April 25 market note.

“We’ve been observing subtle shifts in its behavior over the past few weeks,” he added. “The decoupling from traditional risk assets is still very early and fragile, but for those watching crypto markets 24/7, the shift is palpable.”

“Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is.”

Cipolaro noted that Bitcoin has gained more than 13% since the beginning of April, while US markets such as the S&P 500 and tech-heavy Nasdaq have declined amid escalating global trade tensions due to US President Donald Trump’s tariffs.

He added that the US dollar and long-term US Treasurys have also underperformed since the election and Trump’s April 2 “Liberation Day” tariff announcements, which lumped every country with various rates, the minimum being 10%.

Gold and currencies such as the Swiss franc have been consistent winners as safe havens, Cipolaro said, noting that Bitcoin is emerging as a non-sovereign store of value.

Amid surging volatility in equities, measured with the VIX index, foreign exchange rates (CVIX index), and interest rates and bonds (MOVE index), investors have been on the hunt for these safe haven assets.

Several asset classes have recently seen high volatility. Source: NYDIG

Cipolaro said investors are also seeking alternatives to US hegemony, whether that is stocks, bonds, forex, or commodities.

Few large liquid options

However, Cipolaro said investors seeking alternatives outside traditional financial systems have few large, liquid options.

Gold remains the largest non-sovereign store of value at around a $22 trillion market cap, while Bitcoin has just a fraction of that at $1.8 trillion.

Additionally, Bitcoin is the only top crypto asset listed that “solely focuses on monetary or store of value use cases,” while the others are better described as the fuel for decentralized application platforms, he said.

Cipolaro concluded that despite Bitcoin’s recent gains, “there are few signs of the market overheating,” and the recovery is still in early stages.

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Coin Market

Researcher proposes scaling Ethereum gas limit by 100x over 4 years

Published

2 hours ago

April 28, 2025

The Ethereum mainnet’s gas limit could theoretically grow 100-fold and reach 2,000 transactions per second under a new Ethereum Improvement Proposal (EIP) put forward by Ethereum Foundation researcher Dankrad Feist.

Feist, who had the blockchain’s “danksharding” data storage solution named after him, put forward EIP-9698 on April 27, which would introduce a “deterministic gas limit growth schedule” starting at epoch 369017, or around June 1.

The proposal would gradually increase the gas limit by a factor of 10 for roughly two years, or 164,250 epochs, when one final tenfold increase would occur.

Ethereum clients would need to vote on the proposal for it to take effect, Feist said.

“By introducing a predictable exponential growth pattern as a client default, this EIP encourages a sustainable and transparent gas limit trajectory, aligned with expected advancements in hardware and protocol efficiency,” he added.

As Ethereum can occasionally reach up to 20 TPS in blocks dominated by simple transactions, a 100x gas limit increase could theoretically increase Ethereum’s TPS to 2,000. Feist’s proposal would better position Ethereum to compete with the likes of Solana, which currently processes a non-vote TPS between 800 to 1,050 and has a theoretical TPS of 65,000.

Source: Fabda.eth

The EIP would expand the current gas limit of 36 million to 3.6 billion, potentially allowing around 6,000 transactions to fit into Ethereum blocks.

Feist’s proposal comes after Ethereum validators agreed to raise the gas limit from 30 million to 36 million in February.

Before that, the last change to Ethereum’s gas limit occurred in August 2021 under the London hard fork, where the figure was roughly doubled from 15 million to 30 million.

Daily change in Ethereum Average Gas Limit over the last five years. Source: YCharts

Feist acknowledged that a rapid increase in the gas limit under his proposal may stress less-optimized nodes and increase block propagation times.

“However, the exponential schedule with very gradual increments per epoch gives node operators and developers ample time to adapt and optimize,” he said.

EIP-9698 marks the Ethereum community’s latest effort to boost scalability at the base layer after predominantly focusing on scaling through layer 2 solutions in recent years.

Critics of Ethereum’s layer-2 focused strategy claim that it has fragmented the ecosystem into several siloed chains with little interoperability, leading to a worse user experience.

EIP-9678 looks to increase gas limit

Ethereum developers are also looking to test a fourfold increase of Ethereum’s gas limit in the Fusaka hard fork under EIP-9678.

Fusaka has been flagged as possibly going online in late 2025, while the next major Ethereum upgrade, Pectra, is scheduled to go live on the mainnet in May.

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