292 days ago
Bitcoin price is slowly moving higher above the $56,500 level. BTC might gain bullish momentum if it clears the $58,500 resistance zone. Bitcoin started a recovery wave above the $56,500 and $57,000 levels. The price is trading above $57,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $57,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start a fresh increase above the $58,500 resistance zone. Bitcoin Price Aims Higher Bitcoin price started a recovery wave above the $56,500 level. BTC even climbed above the $57,500 level. However, the bears are again active near the $58,500 resistance zone. A high was formed at $58,200 and the price is now consolidating in a range. It also tested the 23.6% Fib retracement level of the upward move from the $54,955 swing low to the $58,200 high. The bulls seem to be active above the $57,000 level. Bitcoin price is now trading above $57,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $57,200 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $58,200 level. The first key resistance is near the $58,500 level. A clear move above the $58,500 resistance might start a decent increase in the coming sessions. The next key resistance could be $59,200. A close above the $59,200 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $60,000 resistance. Any more gains might be difficult. Another Decline In BTC? If Bitcoin fails to climb above the $58,500 resistance zone, it could start another decline. Immediate support on the downside is near the $57,400 level. The first major support is $57,200 and the trend line. The next support is now near $56,200 and the 61.8% Fib retracement level of the upward move from the $54,955 swing low to the $58,200 high. Any more losses might send the price toward the $55,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $57,200, followed by $56,200. Major Resistance Levels – $58,200, and $58,500.
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Strategy Confirms Commitment to Bitcoin with Massive Purchase
Strategy recently purchased 15,355 BTC, reaffirming its commitment to Bitcoin. The company raised significant funds through stock sales to finance its investments. Continue Reading: Strategy Confirms Commitment to Bitcoin with Massive Purchase The post Strategy Confirms Commitment to Bitcoin with Massive Purchase appeared first on COINTURK NEWS . NewsBTC
Incoming XRP price crash alert
Summary ⚈ A large XRP transfer to Coinbase by an unidentified whale suggests a potential sell-off, raising concerns about downward price pressure. ⚈ XRP’s price has risen amid anticipation of ProShares launching three XRP futures ETFs on April 30, following SEC approval. ⚈ XRP is trading at $2.30, with key support at $2.20 and resistance at $2.50, indicating potential for significant price movement in either direction. XRP’s recent short-term gains may be short-lived, as on-chain data suggests whale activity could signal an impending sell-off. Specifically, on April 28, a massive transfer of 29,532,534 XRP, worth approximately $68.7 million, was moved from an unknown wallet to crypto exchange Coinbase , according to Whale Alert data . XRP whale transaction. Source: Whale Alert Large transfers of XRP to exchanges are often considered precursors to sell-offs, which can exert downward pressure on prices. Typically, such movements indicate that the holder may be preparing to sell. The mechanics are simple: If the XRP is sold on Coinbase, the sudden increase in supply could depress prices, especially in a thin market with limited buying interest. This could trigger a cascading effect, where stop-loss orders are activated, and panic selling accelerates the decline. Additionally, such moves often spark fear and uncertainty among retail investors. Mixed sentiment around XRP whale transaction Regarding this particular transfer, crypto insights platform Alva noted that it could precede a “quick dump,” potentially triggering a sharp price drop. However, in an X post on April 28, Alva also pointed out that sentiment among traders remains mixed. While some fear a sell-off, others are optimistic about the broader market backdrop, including growing speculation around a potential XRP ETF. Big size to Coinbase always gets traders talking—right now, the transfer has the community split. Some see a setup for a quick dump as XRP whales move to exchanges, while others are betting ETF hype and legal wins will keep the bid strong. Watch for volatility and fast reactions… — Alva (@AlvaApp) April 28, 2025 In this context, XRP is witnessing increased interest ahead of the ProShares launch of three XRP futures ETFs on April 30. One product seeks to profit from price declines, another aims to target 2x daily gains, and a third aims to achieve 2x inverse daily performance. At the same time, there is growing hype around the possible approval of a spot ETF by the Securities and Exchange Commission (SEC) in the United States, especially as other regions, such as Brazil, have unveiled the world’s first similar product. XRP price analysis By press time, XRP was trading at $2.32, rising over 6% for the day. Similar gains are also visible on the weekly chart, where the token is up almost 10% amid sustained capital inflows. XRP seven-day price chart. Source: Finbold Following the large whale transaction, XRP remains vulnerable. Immediate support lies at $2.20, and a breakdown below this level could accelerate losses toward the key psychological barrier of $2. Conversely, a decisive move above $2.50 suggests bullish sentiment overpowering selling pressure. Featured image from Shutterstock The post Incoming XRP price crash alert appeared first on Finbold . NewsBTC
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Spot ETF Rumors Ignite XRP Demand and Market Activity
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