#ETH (weekly) chart tacnical analysis🦅📊🎉
$$ETH looks scary ‼️ as well as Good on the same,today it's retracing it's 7 years of strong uptrend📈.
if this retracement confirms ✅ then a strong dump 📉 is anticipated in $ETH but IMO, this is gonna be very rare case.
On the same side if we got a Weekly close around $2100 🎯 then this Bearish scenario will gets Void❌, we confirm that as a Trap & the rally will be continuing in $ETH from here🚀.
DOGE Undervalued? Crypto Experts Anticipate A Major Rebound!
The Dogecoin is once again flashing on the radars. At $0.13, it teeters on the edge of a technical precipice… or a springboard. The charts whisper a contradictory story: oversold indicators, weakened historical supports, but also signals that have preceded rallies of +400% in 2024. So, is DOGE a neglected gem or a trap for speculators? Crypto experts lean towards the former option… provided the stars align.
The DOGE is navigating a critical zone. Its price is currently testing a key support zone: a bullish trendline drawn since 2020, combined with the 200-week exponential moving average ($0.13).
This technical crossroads has already served as a springboard for spectacular rebounds. In 2023, a similar setup propelled the crypto by +88% in a matter of weeks.
But the real wake-up call comes from the stochastic RSI. This indicator, often overlooked by novices, has just drawn a bullish crossover in oversold territory (below 0.30). A rare signal that has preceded all major DOGE rallies since 2021. “It’s a breath of fresh air for tactical buyers,” explains an anonymous trader, emphasizing that selling pressure is waning.
Santiment’s on-chain data reveals a 1.24% increase in wallets holding at least 1 million DOGE since early February, despite the drop in prices. Meanwhile, the number of active addresses has reached a four-month high, a sign of booming network activity.
There remains a significant hurdle: the wall at $0.22. A level where the 50-week moving average and a tough resistance zone (March-April 2024) converge. For bulls, crossing this threshold would be akin to breaking a spell.
Dogecoin is not a crypto like the others. Born from a joke, adopted by Elon Musk, it embodies the pure psychology of the masses. Today, its rebound potential does not solely rely on the charts. The fundamentals, often mocked, also play a role.
Minimal fees ($0.01 per transaction) and an ultra-engaged community make it an unexpected micro-payment tool.
Yet, the risk is palpable. If the $0.13 support fails, the drop could reach $0.12, a psychological and technical threshold. Nervous short-term holders could amplify the descent.
Dogecoin fascinates as much as it confuses. Undervalued? The technical indicators scream “yes,” but the market remains wary. Experts remind a rule: in crypto, the most mocked assets are often the ones that surprise.
In the short term, everything will depend on institutional flows and the appetite for risky assets. A rebound in BTC ETFs or an unexpected announcement (a boost from Musk?) could electrify the prices. But beware of mirages: the DOGE remains a volatile bet.
The Russian Central Bank Wants To Reserve Bitcoin For The Rich
The president of the Russian central bank has drawn ridicule while trying to rein in bitcoin.
While the European Central Bank remains harsh towards bitcoin, the Russian one is not lagging behind. Its president, Elvira Nabioullina, proposes to “reserve it for the wealthiest individuals,” in a context where the gap between the EU and the United States regarding bitcoin is widening .
This is reported by the Moscow Times about the international payments that the Russian central bank is making in bitcoins to circumvent the Western financial embargo. Bitcoin proves to be a very valuable ally while waiting for international tensions to ease.
These BTC payments are open to banks, insurance companies, and investment funds. However, individuals need an annual income exceeding 50 million rubles (580,000 dollars) to benefit from it.
Of course, this restriction only concerns this “experimental system“ hijacked by the central bank. Buying bitcoins is absolutely not prohibited in Russia. That said, businesses are not allowed to accept it as payment.
Like Christine Lagarde, for whom bitcoin is “a way out”, Elvira Nabioullina prefers the CBDC. It has existed since last year, but nobody is using it.
This distrust contrasts with the opinion of Vladimir Putin, who stated a few months ago:
Who can ban bitcoin? No one. Whatever happens to the dollar, these new technologies will develop in one way or another.
Is it to preserve the margins of payment companies like Visa, Mastercard, or MIR (Russia)? Probably not, since bitcoin is far from competitive: 6 dollars on average per transaction in 2024.
Visa and Mastercard, for their part, take 0.3% on each card transaction (it’s much more outside of Europe and the United States). Their payments are therefore much cheaper in the overwhelming majority of cases.
Of course, it is possible to use the Lightning Network (LN) . Fees are 0.02% on average for transactions valued between 100 and 1000 euros. It’s 0.24% for transactions between 1 and 10 euros.
Unfortunately, we would have difficulty using the Lightning Network simultaneously. The reason being that depositing bitcoins into your LN wallet requires first completing an “on-chain” transaction.
In other words, it would take 50 years for each human to make a single transaction… Transaction fees would explode with every enthusiasm for the LN, preventing any lasting enthusiasm.
So there is not much to fear. Bitcoin can only remain a marginal payment currency due to the limit of 1 MB per block, which is at the heart of its decentralization.
Moreover, bitcoin cannot replace banks. For that to happen, governments would first have to agree to abandon their money printing presses. Unlikely, but let’s assume that’s the case.
Let’s imagine bitcoin is the one and only currency on earth. Let’s engage in a thought experiment by asking how to finance the six EPRs for which the bill is estimated at 70 billion euros.
Under normal circumstances, EDF would go to borrow from BNP Paribas, which would create these billions ex nihilo. These billions would then be destroyed as EDF repays them (except for interest, of course). That is the functioning of the “fiat system”.
But how to do that if the amount of money in circulation is fixed? How to find the equivalent of 70 billion in BTC? It would literally require persuading 7 million French people to each lend the equivalent of 10,000 euros for 15 years.
The scaling-up seems very difficult. Creating money ex nihilo appears essential for any complex society.
Not to mention the energy resources. Standard of living = Productivity = machines = energy (and especially oil). Without the abundant and inexpensive energy that productivity requires, wages cannot keep up with inflation exacerbated by the overflowing debts of governments.
All this to say that central banks have nothing to fear from bitcoin. Its low transaction throughput and fixed money supply prevent it from replacing payment companies and banks. Its superiority lies elsewhere.
Above all, bitcoin allows one to protect against inflation, which disproportionately affects those who cannot afford rare assets like premium real estate.
Conversely, anyone can appropriate the best store of value in the history of humanity (bitcoin). It doesn’t matter whether you have a million euros, 10,000 euros, 1,000 euros, or 100 euros in savings.
Bitcoin is poised to become the universal reserve currency. And that’s already a lot! Don’t miss our article: Bitcoin – Soon a Russian strategic reserve?
DWF Labs Co-founder Andrei Grachev Signals Potential Bear Market as Negative Crypto Funding Rates Return
“Market activation and negative funding rates are finally back,’ tweeted Andrei Grachev, co-founder of DWF Labs, suggesting a potential shift towards a bear market.
While overall liquidity is still in recovery, negative funding rates across major centralized exchanges reflect a growing sense of pessimism among traders.
As per on-chain data , most mainstream coins are seeing funding rates below 0.005%. However, historical data reveals that when more than 30% of assets show negative funding rates simultaneously, it presents the chance to employ dollar-cost averaging (DCA) strategies. This analysis is based on the negative funding rates on both Bybit and Binance perps at any given time.
Negative funding rates occur when short positions dominate the market, reflecting bearish sentiment.
Grachev’s comments on X emphasized that the market’s activation phase has returned alongside these negative rates.
During the market correction in January and February, analysts noted an intriguing phenomenon: negative funding rates spiked beyond 30% and even reached 50% for the first time in 18 months – a relatively rare occurrence.
Traders often see this spike as a potential buying signal. Historically, after a sharp rise in negative funding rates, the market has shown tendencies to rebound, making DCA one of the most preferred strategies. Dollar-cost averaging involves systematically investing fixed amounts at regular intervals, reducing the impact of short-term volatility.
Despite the broader market uncertainty, some experts maintain that a market bottom may already be in place, anticipating higher prices in the future. Analysts expect Bitcoin (BTC), the leading cryptocurrency, to revisit its previous range highs, while altcoins could experience partial recoveries.
“At the very least, we expect BTC to revisit range highs, while altcoins should see a nominal recovery, retracing at least half of their downside moves.”
As funding rates continue to fluctuate, investors should closely monitor sustained patterns before making any significant moves. For the time being, a cautious optimism seems to prevail as market participants navigate the ongoing volatility.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.