Latest news with #Vatnani
Time of India
09-07-2025
- Business
- Time of India
Ethereum surges 100% from April lows, but can it break the $2,850 barrier?
Ethereum (ETH), the world's second-largest cryptocurrency, has staged a powerful comeback, surging more than 100% from its April lows below $1,400 to a recent high near $2,800. However, the rally has entered a period of consolidation, with the asset now trading in a tight range between $2,475 and $2,650 over the past eight weeks. At the time of writing, ETH was quoting at $2,628, according to data from CoinMarketCap. Despite the sideways price action, investor confidence remains intact. According to Harish Vatnani, Head of Trade at ZebPay, Ethereum-based investment products recorded $226.4 million in net inflows last week. 'These products are now averaging weekly inflows of 1.6% of assets under management—double that of Bitcoin 's 0.8%,' he said. Crypto Tracker TOP COIN SETS DeFi Tracker 1.72% Buy Crypto Blue Chip - 5 0.90% Buy Web3 Tracker -1.51% Buy NFT & Metaverse Tracker -2.00% Buy AI Tracker -3.32% Buy TOP COINS (₹) Ethereum 224,991 ( 2.91% ) Buy XRP 200 ( 2.67% ) Buy Solana 13,118 ( 2.37% ) Buy BNB 56,800 ( 0.48% ) Buy Bitcoin 9,320,498 ( 0.32% ) Buy Adding to the bullish backdrop, on-chain data from Glassnode shows that ETH balances on centralised exchanges have dropped to an eight-year low of 13.5%, suggesting long-term holders are increasingly shifting assets to cold wallets. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Meanwhile, after touching a high of $2,879, Ethereum witnessed a 26.5% correction, falling to a low of $2,111. It then rebounded strongly from the key support level of $2,150, climbing back toward the current trading range. Live Events "ETH is now moving sideways in the $2,475–$2,650 band with low volumes," said Vatnani. 'To trigger the next leg up, ETH must break and sustain above $2,675 and $2,850—both of which are strong resistance levels. On the downside, $2,350 and $2,150 serve as critical support.' Ethereum's price action reflects a classic tug-of-war between bullish momentum and technical resistance. The sustained inflows into ETH investment products and the declining exchange supply point to strong investor conviction. But for the rally to continue, Ethereum must overcome its current ceiling. 'Technical momentum is constructive, but we need a clear breakout above $2,850 to confirm the next leg higher,' Vatnani added. Also Read: 52% of cryptos launched since 2021 are dead. What should investors focus on in 2025? With institutional inflows rising and exchange balances dropping, all eyes are now on whether ETH can convert its range-bound consolidation into a decisive breakout.
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Business Standard
28-05-2025
- Business
- Business Standard
Bitcoin steady at $108k as market awaits move; Ethereum eyes $3,000
Bitcoin (BTC) price today, Wednesday, May 28, 2025: The cryptocurrency market continues to trade within a narrow range, with leading digital asset Bitcoin (BTC) consolidating around the $108,800 mark following an unsuccessful attempt to break through resistance near $111,000. Market analysts called the current consolidation healthy and said it indicates investors are waiting for clearer breakout or breakdown signals. The bellwether currency was quoted trading at around $108,810.13, lower by 0.21 per cent at 11:40 AM on Wednesday, May 28. The world's most popular cryptocurrency had a 24-hour trading volume of $52.64 billion. Bitcoin's market capitalisation stood at $2.16 trillion, the highest among all cryptocurrencies. The last 24-hour trading range for Bitcoin was between $108,445.43 and $110,744.21, according to data from CoinMarketCap. Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, is currently in a re-accumulation phase, where steady buying interest is helping maintain bullish momentum. "Market sentiment was further boosted by US President Donald Trump's media company announcing plans to raise $2.5 billion to establish a Bitcoin treasury." Calling Bitcoin's consolidation healthy, Vikram Subburaj, CEO, Giottus Crypto Platform, said that, "As long as BTC holds above the weekly open near $109,000, the path to a renewed breakout above $110,000 is likely." A brief dip into the $106,000–$108,000 zone, Subburaj believes, would fall within normal volatility. Ethereum faces resistance at $2,750 Ethereum (ETH), on the other hand, touched the $2,700 mark briefly but failed to hold. Last seen, it was quoted trading at $2,629.79, up 0.92 per cent, with a trading volume of $24.32 billion. It has fluctuated in the range of $2,566.49–$2,712.29 in the last 24 hours. Ethereum's market cap stood at $317.5 billion, making it the second-largest cryptocurrency by market capitalisation. Despite the dip, Harish Vatnani, head of trade, ZebPay, said, the Relative Strength Index (RSI) remains at 64—comfortably below the overbought threshold of 70—suggesting there's still room for bullish momentum if buyers regain control. "However, caution is warranted, as the MACD flashed a bearish crossover on Friday, signalling potential short-term weakness and a possible continuation of the downward move. Traders will likely keep a close eye on these technical levels for confirmation of the next trend direction," said Vatnani. ETH is facing strong resistance at $2,750. If it breaks and closes above this level with good volumes, then Vatnani expects the price to further rally up to $3,000 and $3,350. Altcoins trade mixed Among other popular altcoins, Binance Coin (BNB) was trading higher by 0.69 per cent, while Cardano (ADA) was trading lower by 1.9 per cent, Ripple (XRP) was trading lower by 0.56 per cent, and Solana (SOL) lower by 0.33 per cent.
