• Bitcoin price reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north.
• Ethereum price holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum.
• Ripple price coils up for a move north as XRP bulls defend $0.5000

Bitcoin (BTC) price slipped below $60,000 on Wednesday as markets tried to front-run the Federal Open Market Committee (FOMC) meeting.

In the mid-April meeting, the Fed alleged new uncertainty concerning whether it could cut rates later this year because of inflation data from the previous quarter. This had markets anticipate a rate hike, causing Bitcoin price to dump, going as low as the $56K range.

In a surprising twist on Wednesday, however, the Fed decided to keep rates unchanged, with the improved sentiment sending BTC back into the $58,000 range.

The sentiment has extended to Ethereum (ETH) and Ripple (XRP) prices as they continue to hold above key support levels.

Also Read:  Relief wave on altcoins likely as Bitcoin price shows a $5,000 range

Key level to watch as Bitcoin price slowly grinds up

Bitcoin price drop on Wednesday saw it draw close to testing the Bull Market Support Band at $55,831. However, dovish news from the FOMC may have turned around fortunes as the BTC price is slowly grinding up. If the bulls can manage to haul BTC back above the $59,200 level, it could solidify the recovery, effectively meaning that BTC has bottomed out at $56,552.

In the meantime, Bitcoin price remains in the woods amid falling momentum and growing bearish sentiment, as shown by the Relative Strength Index (RSI) and the Awesome Oscillator (AO) momentum indicators.

If the Bull Market Support band fails to hold as support, Bitcoin price could extend the fall toward the $52,000 threshold, or in a dire case, test the $50,000 psychological level.

BTC/USDT 1-week chart

Conversely, with the RSI holding well above the mean level of 50, and the AO still in positive territory, all hope is not lost for BTC bulls. And while a flip of $59,200 into support would solidify a recovery rally, the bearish thesis will only be invalidated once BTC breaks and closes above $72,000.

Also Read: Bitcoin price reclaims $59K as Fed leaves rates unchanged

Ethereum price still flirts with 25% upside potential

Ethereum price is consolidating within a falling wedge pattern. This bullish pattern will be executed after a decisive breakout above the upper trendline in the one-day timeframe. 

The target objective for this pattern is a 25% move toward $4,250, determined by measuring the height of the wedge and superimposing it at the expected breakout point. The descending wedge pattern remains viable, given that the Ethereum price continues to hold above $2,900 in the 12-hour timeframe.

ETH/USDT 12-hour chart

On the other hand, with the lower highs of the RSI, the bears could have their way, sending Ethereum price below the $2,900 buyer congestion level. Such a move would not only negate the bullish reversal pattern but also encourage more sell orders.

Traders looking to open long positions for ETH should wait for the RSI to reclaim above 50 mean level, a move that could be accompanied by a bounce of Ethereum price above the lower boundary of the pattern. A 12-hour candlestick close above $3,212 would provide a good entry.

Also Read: Ethereum attempts recovery from dip amid unchanged interest rates and accusations leveled at SEC Chair

Ripple price defends against further downside

Ripple price could pivot around $0.4952, marked by the 50% Fibonacci placeholder, as XRP bulls show commitment to defend the $0.5000 threshold. The RSI has managed to record higher lows in the one-day timeframe, which points to growing bullish momentum.

Increased buying pressure could see the XRP price bounce with the prospect of reclaiming the $0.5715 peak of the range. In a highly bullish case, the gains could be seen in the rippling price foray above $0.6000, which is almost 17% above current levels.  

XRP/USDT 1-day chart

On the flip side, if the 50% Fibonacci placeholder fails to hold as a support, the Ripple price could drop. A candlestick close below $0.4782 would produce a lower low, hinting at a possible trend reversal.

Spooked holders would then pull the trigger, sending Ripple price below the $0.4500, or in a dire case, roll over to $0.4188. This would mean a fall of nearly 20% below current levels.

Also Read: XRP sustains above $0.50 as traders digest news of Ripple XRP Ledger entry in the Japanese market.

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The situation is almost unchanged since yesterday as most of the coins are in the red zone, according to CoinMarketCap.

XRP/USD

The rate of XRP has fallen by 0.62% over the last 24 hours.

On the hourly chart, the price of XRP might have set a local support level of $0.4780. If the daily bar closes near $0.50 or above it, there is a chance to see a resistance breakout, followed by a move to the $0.51 zone.

On the bigger time frame, one should pay attention to the candle’s closure in terms of yesterday’s bar’s low. 

If it happens far from it, bulls may seize the initiative, which can lead to growth to the $0.50-$0.52 zone by the end of the week.

From the midterm point of view, it is too early to make any predictions as the rate is far from the main levels. In this case, ongoing sideways trading in the range of $0.46-$0.54 is the more likely scenario until mid-May.

XRP is trading at $0.4966 at press time.

About the author


Denys Serhiichuk

The prices of most of the coins keep falling, according to CoinStats.

SOL/USD

The price of Solana (SOL) has declined by 4% over the last day.

On the hourly chart, the rate of SOL is in the middle of the local channel, between the support of $118.47 and the resistance of $127.33. 

As most of the daily ATR has been passed, there are low chances to expect any sharp ups or downs by the end of the day.

On the bigger time frame, traders should focus on the bar’s closure in terms of yesterday’s low at $121.21. If a false breakout happens, one can expect a bounce back to the $130 zone within the next few days.

On the weekly chart, there are no reversal signals yet. The price of SOL is approaching the recently formed level of $116. If buyers cannot seize the initiative by the end of the week, the accumulated energy might be enough for a move to the crucial zone of $100.

SOL is trading at $122.43 at press time.

About the author


Denys Serhiichuk

As Bitcoin undergoes a correction, Ethereum feels the brunt of the increased market supply. Further, Ethereum’s price fails to sustain above the critical $3,000 level, suggesting a massive increase in supply.

The downfall in Ethereum price tests the 200D EMA and the rising support trendline with three consecutive bearish candles. Currently, the ETH price trades at $2850, an intraday drop of 5.44%.

The downtrend could hit the $2,500 mark if the rising supply fractures the support trendline amidst the crashing market. However, a positive cycle in the channel could revive the bull run and reclaim the $3,000 mark.

Price Prediction	Potential Low ($)	Average Price ($)	Potential High ($)
May 2024	$2,500	$3,150	$3,800

ETH Price Prediction 2024

As the volatile 2023 concludes, the Ethereum market price recovers remarkably, forming an ascending triangle pattern in the weekly chart. Bouncing from the psychological barrier of $1000 in November 2022, the uptrend continues to gain momentum in the Ethereum weekly chart.

Blazing past the overhead resistance, the ETH price pushes beyond the $4000 barrier. Moreover, the breakout rally signals a longer uptrend and avoids a death cross in the weekly chart. If the buyers cross the Ethereum market value above $5000, the bull run continuation can exponentially increase in 2024. With potential Spot ETF approvals and the Bitcoin Halving effect on altcoins, the price of ETH can reach $10,000.

Price Prediction	Potential Low ($)	Average Price ($)	Potential High ($)
2024	$2160	$5871	$10000

Also Read: Ethereum Price Analysis: With ETH Price Struggling Above $1800, What’s Next? $1600 or $2000?

Factors Influencing Ethereum’s Price in 2024

Bullish factors

• The Dencun upgrade will make Ethereum faster and cheaper to use, and more people will try building apps on it.
• Bitcoin halving – When BTC rewards get cut, some money may flow to Ethereum instead. It could drive up interest.
• Increasing adoption – More companies are experimenting with Ethereum each year. As usage grows, it will attract more builders.

Bearish factors

• Regulatory concerns – Governments may impose strict rules that add risk and uncertainty.
• Market volatility – Crypto prices like Ethereum fluctuate depending on market conditions.
• Competition – Networks like Solana and Cardano are trying to improve on Ethereum. If they work better, some users may switch over time.

ETH Price Prediction 2025

In like fashion, Ethereum, the second-largest cryptocurrency, is expected to maintain its upward trajectory and form higher highs in 2025. Moreover, with increased adoption and the demand for ETH, the ETH coin price can create a new all-time high $14,925.

However, on the flip side, the ETH coin price can dip to $8,917, with an average ETH price of $10,421.

Price Prediction	Potential Low ($)	Average Price ($)	Potential High ($)
2025	8917	10421	14925

Ethereum Price Prediction 2026 – 2030

ETH Price Prediction	Potential Low ($)	Average Price ($)	Potential High ($)
2026	5,566.77	8,713.12	16,610.75
2027	6,800.10	15,246.74	28,705.44
2028	12,613.01	24,482.48	36,410.87
2029	26,192.00	35,010.77	41,994.32
2030	30,647.23	23,563.01	56,575.21

ETH Price Prediction For 2026

By 2026, the Ethereum coin price is expected to reach a high of $6,610. Conversely, the ETH price might drop to $5,566 with an average of $5,713.

ETH Price Prediction For 2027

Similarly, the Ethereum 2027 forecast expects the ETH coin price to make a new all-time high at $8,705. However, a correction based on market shortcomings may drive the ETH crypto to $6,800, with an average of $7,246.

ETH Price Prediction For 2028

In 2028, the chances of Ethereum dominating the crypto market rise up as the ETH coin price will potentially reach a new high at $16,140. Conversely, the altcoin might fall to $12,613, making an average of $14,482.

ETH Price Prediction For 2029

Approaching its all-time high of $21,994.32 in 2029, the Ethereum price is expected to surpass the psychological barrier of $20,000. Conversely, in case of a correction, ETH may reach a low of $16,192.00, with an average price of $19,010.77.

ETH Price Prediction For 2030:

Lastly, the ETH crypto price is projected to reach a new all-time high of $26,575.21 in 2030. Conversely, with a potential low of $20,647.23 and an average price of $23,563.01.

CoinPedia’s Ethereum Price Prediction

Factors like the successful change to PoS and the upcoming Danksharding upgrade will incline stars in favor of the protocol. If the Ethereum network manages to scale remarkably with the upcoming upgrades and ace the adoption race, then the ETH crypto price will skyrocket. 

Potentially, the Ethereum (ETH) coin price will reach a new swing high of $3582 before the end of 2024. Conversely, increasing FUD amongst investors and a lack of updates could curb the value of 1 ETH at $2160. 

ETH Price Prediction	Potential Low ($)	Average Price ($)	Potential High ($)
2024	$2160	$5871	$10000

Market Analysis

Firm Name	2024	2025
DigitalCoinPrice	$4760	$6763
Gov.Capital	$6622	$8893

*The aforementioned targets are the average targets set by the respective firms.

Upcoming Tokens in Dencun Upgrade

• EIP-4788: EIP-4788 enhances the EVM’s capabilities, securely bridging Ethereum’s Execution layer with beacon chain data for advanced LSD operations.
• EIP-7514: Increasing Epoch loss limits via EIP-7514 aims to balance scalability with network accessibility amid surging validator numbers.
• EIP-7044: Simplifying staking with EIP-7044, this upgrade introduces permanent signatures for voluntary exits, improving stakeholder security.
• EIP-7045: EIP-7045 proposes extended attestation slots, bolstering LMD-GHOST’s security and paving the way for faster Ethereum block confirmations.
• EVM Upgrade: EVM’s evolution continues with opcodes like EIP-1153 and EIP-5656, aiming to streamline smart contracts while cutting gas costs.
• EIP-7516: Introducing EIP-7516’s BLOBBASEFEE opcode, this facilitates real-time rollup cost delivery and derivatives creation based on L1 fees.

Historical Ethereum Price Sentiments 2016 – 2024

FAQs

ETH

BINANCE

After a market cool down the past month, meme coins could be set for another monumental rally. Will Dogecoin, the sector’s godfather, continue to lead the way?

We use technical analysis and expert opinions to predict where Dogecoin’s price could be headed this month.

Dogecoin is trading at a 38% discount this month, reflecting that selling pressure has drastically outweighed demand.

Dogecoin Will See New Local Highs in May

However, with its current price at $0.13, the bottom could be in for DOGE, allowing a longer-term uptrend to resume.

Dogecoin’s current price marks a retest of its support from March, presenting a perfect reversal opportunity. This is amplified by the RSI indicator being in the oversold region, reflecting that sellers are exhausted.

Meanwhile, Coinglass data shows that Dogecoin’s funding rate (the premium that traders pay to long or short an asset) has gone negative. 

This means that bears have taken over the market and now must pay bulls a fee to balance liquidity. 

In other words, bears are now disincentivized from trading, potentially enabling bulls to take over.

Leading traders are displaying optimism on Dogecoin’s upcoming trajectory, with Ali Martinez explaining that its price action resembles that of early cycles before explosive rallies.

“Dogecoin is showing its classic pattern once again! DOGE is currently consolidating after breaking out from a descending triangle.”

He continued, “Based on past trends, we might see DOGE rocket towards $1 in the coming weeks!”

Meanwhile, TradingView analyst ArmanShabanTrading speculates a move toward $0.229 shortly, followed by advancement to its previous cycle all-time highs.

The analyst explained, “Dogecoin is trading with more than 10% growth in the $0.16 range, and by maintaining support in the $0.124 range, we can expect the price to push higher.”

He continued, “The price targets are $0.229, $0.35, $0.374, and $0.75, respectively. The expected yield of this cryptocurrency in the long term is above 300%.”

Indeed, these factors reflect a bullish outlook for the market-leading meme coin. Still, its 11-figure market cap pushes many traders to cheaper alternatives with beta exposure.

One promising Dogecoin alternative is Dogeverse, a multichain meme coin currently undergoing a presale.

Potential Dogecoin Alternative: New Meme Coin Dogeverse Raises $12M at Presale, is Tipped to 100X 

Step inside a revolutionary domain of enthralling memetic innovation with Dogeverse, the first-ever multichain Doge-themed cryptocurrency. 

His epic chain-hopping adventure begins on Ethereum, Base, BSC, Avalanche, and Polygon and will also launch on Solana.

This narrative will undoubtedly strike a chord with traders, but it must not be mistaken for optics.

The multichain approach offers tangible and unprecedented benefits, such as negating the risk of user migration between blockchains and establishing a chain-agnostic community with widespread accessibility.

In a bid for sustained growth, the Dogeverse team launched a staking mechanism in unison with the presale.

That means presale buyers can lock up their tokens for passive rewards, helping compound their initial investment. 

Currently, they can garner an 87% APY, but this will decrease as more tokens are staked.

Adding to the excitement, industry commentators are overwhelmingly bullish on the new presale. For instance, the 99Bitcoins YouTube channel analysts recently dubbed it a “100x potential meme coin” and speculated it could be the “best crypto to buy now.”

The Dogeverse presale has raised a staggering $12.5 million so far. The current price is $0.000304, but this will rise throughout the campaign, so potential buyers should not wait around.

Visit Dogeverse Presale

The XRP has caught the eyes of investors today, amid a slump in its price. Notably, the crypto was on the investors’ radar today, especially after Ripple unlocked 500 million XRP from Escrow, triggering discussions over its potential impact on the XRP price.

Generally, such unlocks tend to boost the supply of the crypto in the market, which in turn impacts the prices. So, let’s take a closer look at XRP’s recent development and see how it might affect the XRP price.

Ripple Unlocks 500 Million XRP Sparking Speculations

Ripple has initiated the unlocking of 500 million XRP from escrow, a move that reverberates throughout the crypto sphere, as reported by Whale Alert, an on-chain transaction tracking platform. This release forms part of Ripple’s routine strategy, with 1 billion XRP typically freed from escrow monthly, often distributed across two or three transactions. Notably, the 1 billion release usually happens in two or three transactions, and considering that, some more transactions could be witnessed shortly.

While this surge in XRP supply may momentarily dampen prices, Ripple’s Escrow Strategy aims at sustaining market liquidity and facilitating cross-border transactions. Despite concerns over short-term price impacts, the majority of released XRP is re-escrowed, ensuring long-term stability and aligning with Ripple’s ecosystem sustainability goals amidst ongoing regulatory hurdles, notably the SEC lawsuit.

As demand from businesses, partners, and exchanges escalates, Ripple’s balancing act underscores its commitment to maintaining ecosystem integrity amid regulatory uncertainties, emphasizing its strategic vision beyond immediate market fluctuations.

Also Read: Bitcoin ETF Outflows Surge to $161 Million Ahead of FOMC

Price & Performance

The XRP price, along with the broader cryptocurrency market witnessed a downturn momentum today. On the other hand, the recent release from Escrow has also sparked concerns over further pressure on the crypto’s price.

Notably, an unknown whale with wallet address “r4wf7….h4Rzn” sent 30.6 million XRP, worth $15.11 million, to Bitstamp exchange. This has also sparked concerns over a potential downward pressure on the XRP price. In addition, the same XRP whale has been seen transferring massive amounts of XRP recently.

As of writing, the XRP price was down 2.74% to $0.4995, while its trading volume rose 31.66% to $1.37 billion. Notably, the crypto has touched a high of $0.5139 and a low of $0.4905 in the last 24 hours, reflecting the highly volatile scenario in the market.

Also Read: Bitcoin (BTC) Price Relief Rally Ahead As ‘Buy The Dip’ Calls Surge

The top crypto prices today crashed heavily as the Bitcoin (BTC) price plunged to the $60,000 level despite the recent Hong Kong ETF launch. In addition, the Ethereum (ETH) price plummeted below the $3,000 mark, losing hold on a crucial level. Moreover, other top altcoins, such as Solana (SOL), XRP, Cardano (ADA) plunged notably, mirroring the bearish trend.

Major Crypto Prices Today

1. Bitcoin Price

The Bitcoin price crashed by 5.13% reaching $60,191.06 at the time of writing on Wednesday, May 1. On the other hand, it’s trading volume spiked 41.71% to $37.91 billion in the last 24 hours. Whilst, the crypto’s market capitalization slipped to $1.18 trillion.

2. Ethereum Price

The Ethereum price tumbled 5.46% to $2,999.10 at press time with a market valuation of $365.74 billion. Whilst, ETH saw its trading volume surge 29.66%, reaching $17.99 billion.

3. Solana Price

The Solana price extended below the $130 mark today. The Solana price lost 7.06%, settling at $126.06. In contrast, SOL witnessed a 42.20% surge in trade volume to $3.48 billion in the last 24 hours.

4. XRP Price

Whilst, the XRP price inched closer to drop below the $0.50 level amid the broader market crash. The XRP price recorded a slump of 2.66%, reaching $0.5026. On the other hand, XRP’s trading volume soared 24.41% to $1.36 billion.

5. Cardano Price

Meanwhile, the Cardano crypto price slipped 2.96% to $0.442 today. Whilst, ADA recorded a hike of 40.13% in its 24-hour trading volume, settling at $416.32 million.

6. Dogecoin & Shiba Inu Price

The Dogecoin price crashed by 7.29% to $0.1324 while its rival, Shiba Inu price tumbled 7.57% and traded at $0.00002215.

Also Read: How Will Bitcoin Price React To FOMC Meeting?

Top Crypto Gainers Today

• Cosmos (ATM): The Cosmos crypto surged 5.43% and traded at $8.56.
• Optimism (OP): The OP crypto price rallied 2.52% to $2.58.
• Starknet (STRK): The Starknet crypto price was up 2.22% and was valued at $1.24.
• Tron (TRX): The TRX crypto price rose 0.45% to $0.1201.

Top Crypto Losers Today

• Arweave (AR): The AR price plummeted 17.25% to $29.74.
• Stacks (STX): The STX price plunged 15.01% to $2.04.
• Sei (SEI): The Sei price witnessed a dip of 11.75% to $0.542.
• Lido DAO (LDO): The LDO crypto slumped 11.43% to $1.90.

Due to the sudden bearish trend, none other crypto made it to the top gainers list. Moreover, millions worth of crypto liquidations were noted in the past 24 hours, which could have catalyzed the latest crash. According to Coinglass, Bitcoin alone witnessed $107.64 million liquidations in the last 24 hours. Out of this $93.26 million has been attributed to longs.

Also Read: Here’s Why Pepe Coin Price Sees a 20% Breakout Rally in May

A new top-earning crypto has emerged with massive profit potential: a network that has already amassed over $21.7 million in its presale, showing its strong market presence. BlockDAG, employing advanced Directed Acyclic Graphs (DAG) technology, enhances transaction speeds and boosts overall network efficiency, setting new standards in blockchain capabilities. Amidst this innovation, it stands as a strong challenger to well-established cryptocurrencies like Solana and Cosmos. With a stunning potential for a 30,000x return on investment and strategic initiatives like a vesting period to align long-term investor interests with the project’s success, BlockDAG is eyeing immediate gains and is fostering sustained growth and stability, securing its position at the forefront of next-generation crypto investments.

Solana’s Current Market Position and Future Prospects

Solana currently trades at approximately $143.91, having previously surged 550%. Despite recent stagnation, it retains substantial growth potential. Market indicators hint at a potential reversal, with experts suggesting that Solana could rebound to $200, surpassing previous highs by the end of 2024, bolstered by its strong fundamentals and popularity in the meme coin and NFT sectors.

Cosmos’s Market Trajectory: Cautious Optimism

Cosmos, known for its innovative “internet of blockchains” model aimed at enhancing scalability and interoperability, shows promise despite a current price of $8.9 and a recent decline. Analysts remain optimistic, projecting a price recovery to between $12 and $22, as it gains momentum and establishes more robust support levels.

The Rise of BlockDAG

BlockDAG is swiftly gaining traction in the crypto community, with more than $21.7 million already raised in its presale, and aims for a staggering $600 million by 2023. With a price prediction of $30 by 2030, the project is set for broad adoption and significant technological impact. BlockDAG’s global influence is evident, from its viral keynote in Shibuya to its impactful whitepaper launch in Las Vegas. The upcoming keynote, potentially delivered from the moon, underscores BlockDAG’s ambitious reach and innovative spirit.

BlockDAG’s Strategic Implementation of Vesting Period

In alignment with its long-term strategic goals, BlockDAG has introduced a carefully planned vesting period for coins acquired during its initial presale phase. This pivotal strategy is crafted to enhance the overall stability of the project and to cultivate a committed investor base. By implementing a controlled release of $100 million in liquidity, BlockDAG is setting the stage for a stable market environment, aiming to mitigate potential volatility and promote sustained growth.

The vesting period is designed to encourage investors to stay engaged with the project over the long haul, fostering a deeper level of commitment that extends beyond short-term market gains. This approach secures a loyal investor base and aligns with BlockDAG’s overarching vision of long-term success and continuous development.

With staggered fund releases over a specific timeframe, BlockDAG aims to maintain a balanced market presence, avoiding the sudden influx of coins that could disrupt market dynamics. This strategic release mechanism is intended to provide ongoing liquidity, thereby supporting the coin’s price stability while also protecting investor interests. Through these measures, BlockDAG is demonstrating a robust commitment to both its investors and the sustained advancement of its innovative blockchain project.

Looking Ahead: BlockDAG’s Position in the Crypto World

In the fast-evolving cryptocurrency arena, BlockDAG distinguishes itself with a unique approach that could redefine decentralised finance. The combination of ambitious goals, advanced technology, and a growing global community positions BlockDAG as a promising investment opportunity. Participating in BlockDAG’s presale offers financial potential and supports a visionary approach to decentralised systems, emphasising innovation and user empowerment.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

The cryptocurrency market is slightly rising, according to CoinMarketCap.

BNB/USD

The rate of Binance Coin (BNB) has increased by 2% over the last 24 hours.

The price of BNB is in the middle of a wide channel, between the support of $599.6 and the resistance of $618.3. From the technical point of view, there are low chances to expect any sharp moves until the end of the day as most of the daily ATR has been passed. 

On the bigger time frame, neither bulls nor bears are dominating as the rate is far from the key levels. Such a statement is also assumed by the falling volume. 

In this case, sideways trading in the zone of $600-$620 is the more likely scenario for the next few days.

On the weekly chart, one should pay attention to the vital zone of $600. If the candle closes above it, traders may expect a test of the resistance level of $645.2 by the end of the week.

BNB is trading at $607.6 at press time.

About the author


Denys Serhiichuk