Crypto analyst Unichartz has highlighted a Dogecoin squeeze that could spark the next massive move to the upside for the meme coin. This comes amid a broader crypto market crash, which has also led to a decline for the foremost meme coin. 

Dogecoin Showing A Promising Structure

In a TradingView post, Unichartz declared that a Dogecoin squeeze is incoming. He noted that the meme coin is currently showing a promising structure as it trades within a rising wedge formation. The analyst added that the DOGE price is holding above a rising support line, which it has respected multiple times, indicating a sign of bullish intent from buyers. 

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His accompanying chart showed that this Dogecoin squeeze could lead to a rally to the psychological $0.3 level. If that happens, it will mark the first time DOGE reaches this level since a multi-year high of around $0.48 in 2024. It will also mark a 2025 high for the meme coin, with its current high at around $0.28. 

Unichartz revealed that a descending resistance line and a key horizontal supply zone at around $0.28 are acting as a strong barrier for the meme coin. He remarked that DOGE will need to flip this confluence zone cleanly for it to see a breakout and push higher. In the meantime, the meme coin continues to decline alongside the broader crypto market. 

Dogecoin has dropped from a recent high of around $0.24 and is down over 8% in the last seven days. This has occurred thanks to the massive drop in the Bitcoin price, with the flagship crypto on a downtrend since it reached a new all-time high (ATH) of $124,000 two weeks ago.

The Goal Is For DOGE’s Stoch RSI To Cross The 20 Level

In an X post, crypto analyst Kevin Capital said that the goal is for Dogecoin’s Stochastic Relative Strength Index (Stoch RSI) to cross the 20 level and show a follow-through. He explained that anything below that level is a sign of weak momentum. This technical indicator is currently crossing to the upside and is at the 13 level.  

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This is significant, as Kevin noted that monthly Stoch RSI crosses on Dogecoin, outside of the bear market, and, along with an uptrending monthly RSI, ultimately lead to massive rallies. He further remarked that DOGE’s biggest move of the cycle is likely if Bitcoin can move higher and Ethereum ultimately enters into price discovery with a dropping BTC dominance. The analyst added that DOGE just needs a little more time for BTC and the macro to support this move.

At the time of writing, the Dogecoin price is trading at around $0.21, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

After a tumultuous week, the Bitcoin price is starting to find its footing again, rising from major support around the $115,000 level. Currently, the pioneer cryptocurrency looks to be on the path of recovery and possibly moving toward new highs this week as momentum picks up. There is also the possibility of a coming short squeeze, as explained by crypto analyst Luca on X, using recent developments that show that the recent crash may have only been temporary.

Bitcoin Shows Tendency To Cross $123,000 Again

In an X post, Luca pointed to the Bitcoin market makers as the ones behind the recent price movements and that there was a reason for this. The initial move downward looked to be an attempt to flush out late longs as crypto traders tried to take advantage of the frenzy created by the new all-time highs.

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Then a reversal moved into the works, catching shorters unaware and sweeping liquidity at support levels. This comes as bears were pulled into a false sense of security, believing that the price would continue to decline before being hit with the move back up above $118,000, triggering hundreds of millions of dollars in liquidations.

All of this is happening at a time when things like the Bitcoin funding rate were falling. Coinglass data shows the Bitcoin OI-Weighted Funding Rate had fallen briefly below 0.01% on Sunday after reaching as high as 0.0167% earlier in the week on July 23. Luca further revealed that the Bitcoin Premium metric had also fallen back into the negative.

Another interesting fact was the fact that the open interest had shot up when the Bitcoin price had declined. Then, once the price began to recover, the open interest began to rise once again, and Luca interprets this as short positions starting to get squeezed. If this squeeze continues, then the Bitcoin price could spike very quickly, taking out tens of thousands of short positions with it.

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BTC Open Interest Tells A Story Of Exposure

As the Bitcoin price has bounced between $115,000 and $120,000, the BTC open interest has barreled upwards in response. In fact, this metric sits at all-time high levels, shaking off the market uncertainty as crypto traders continue to open positions to bet on Bitcoin’s next move.

The open interest had touched $87.89 billion back on July 15, and since then, it has averaged above $80 billion every day. Amid this, the Binance Long/Short ratio shows that shorters are currently dominating at 53.97% compared to 46.03% for long accounts. This lends credence to Luca’s expectations that the market could see a short squeeze to take out shorters and push the price to new all-time highs.

Featured image from Dall.E, chart from TradingView.com

Ethereum blasted past $3.6K for the first time since January.

And as the Kobeissi Letter pointed out, it’s right in the middle of one of the biggest short squeezes crypto has ever seen.

Here’s what happened:

At the start of July, tons of traders were shorting ETH.

(Quick explainer: shorting = betting the price will drop. You borrow ETH, sell it now, and hope to buy it back cheaper later so you can keep the difference. But if the price goes up instead, you lose money.)

But at the same time, big dawgs like Ethereum treasury companies and ETFs were steadily buying ETH.

Matter of fact, ETFs just had their best two days ever – $1.32B in inflows.

Now, here’s the problem for the shorts: because demand was steadily building, ETH started increasing. And since they were betting against it, they started losing money.

On top of that, many of those shorts were using leverage (basically borrowing even more money to make their bets bigger), so their losses added up even faster.

Eventually, the losses got so big that exchanges automatically closed their positions – something called liquidation.

To close out, these traders had to buy ETH to pay back what they borrowed.

But here’s the thing: when a bunch of short sellers are forced to buy at the same time, it pushes the price even higher.

And that higher price forces even more shorts to close, which increases the price more.

That’s the vicious cycle known as a short squeeze– and we’re seeing it play out in full force right now.

This cycle has already pumped ETH 40%+ this month and added over $130B to its market cap.

Billions in shorts have already been liquidated, and if ETH climbs another ~10%, another billion dollars in short positions could be wiped out.

If this keeps up, $4K ETH isn’t far off, Kobeissi says.

And ETH isn’t the only altcoin having a moment.

XRP set a new all-time high above $3.60 today, and its market cap topped $200B for the first time ever.

All this altcoin action pushed the entire crypto market past the $4T level – another all-time record.

But why are the vibes soo good?

To be continued…

Features writer

Jeffrey Gogo

Features writer

Jeffrey Gogo

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Jeffrey Gogo is a journalist with 20 years of experience in business, finance, cryptocurrency, and climate change news and analysis.

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Elena Bozhkova

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Elena Bozhkova

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Elena is the Features Lead at Cryptonews.com. With a Master’s degree in science journalism from City University, London, she is passionate about exploring complex topics in the world of technology.

Last updated: 

June 23, 2025

Key Takeaways:

• Donald Trump has criticized Biden-era green energy incentives as a “giant scam”.
• He plans to eliminate the subsidies, with tax credit cuts of 30% on solar energy by 2028.
• Analysts say the move will increase energy costs for Bitcoin miners, though the loss could be offset by the reintroduction of 100% bonus depreciation.

Donald Trump’s tax bill, narrowly passed by the U.S. House of Representatives in late May, could result in a major increase in energy costs for Bitcoin miners who rely on solar power and other renewables, according to industry analysts.

The bill, dubbed by the Republican President “big, beautiful bill,” would phase out Biden-era renewable energy incentives, with tax credit cuts of 30% on solar energy by 2028. The legislation is currently being reviewed by the Senate before it can be passed into law.

“Trump’s bill could result in a 10–15% increase in electricity costs, particularly in areas where miners rely primarily on solar energy,” Michael Jerlis, CEO of Bitcoin mining pool EMCD, told Cryptonews.

Nearly 43% of the Bitcoin network is now powered by renewable energy sources, with solar energy accounting for just 3.2% of the total, according to the latest data from the Cambridge Centre for Alternative Finance.

Hydropower accounts for the biggest share with 23.4%, followed by wind energy at 15.4%, and other renewables at 0.5%. It’s unclear what proportion of the 137 Bitcoin miners across 21 U.S. states rely on solar power.

“The industry may be significantly impacted by any changes to the regulations that affect these [energy] sources,” Jerlis said, adding:

“The bill’s impact on the mining sector will be largely determined by local laws, energy mix configurations, and the specific tax burden miners face in each region.”

Solar projects, often built in remote areas, rely on Bitcoin miners as “anchor tenants” to justify development. Experts say without subsidies, new solar farms could stall, causing a squeeze on miners’ access to low-cost power.

Can Bitcoin Thrive Without Subsidies?

But that may not always be the case. According to Mason Jappa, CEO of U.S.-based Bitcoin miner Blockware, the assumption that miners depend on solar is misguided.

“Miners don’t necessarily rely on solar,” he said, in response to questions from Cryptonews. “In fact, it’s really the other way around. Solar energy producers are very reliant on Bitcoin miners.”

That’s because large-scale solar farms are often located in remote areas where retail energy demand is low and transmission to cities, to larger consumers, is costly.

But BTC miners “are able to provide solar power producers with a ‘backstop’ of demand” because they can operate anywhere there’s a cheap power source, said Jappa.

In this light, he says, Trump’s clean energy tax credit cuts do not spell disaster for miners who depend on electricity generated from the sun. On the contrary, the economic incentive for collaboration could actually increase. Jappa explains:

“Investors looking to build new solar farms have less uncertainty because they know that Bitcoin miners are almost always willing and able to purchase their energy. Ultimately this will lead to increased solar energy production even in the absence of government subsidies.”

Environmental analyst Daniel Batten concurred with Jappa, saying Bitcoin doesn’t need subsidies to make renewables like solar economically viable.

“Bitcoin mining is politically agnostic,” Batten said. “It can operate in an environment with or without subsidies just as well.”

Speaking to Cryptonews, Batten cited academic research by Hakimi et al, which shows that utility-scale solar projects achieve faster ROI, or return on investment, in less than half the time when using Bitcoin mining.

Rooftop solar installations, too, achieve 57% better ROI, outperforming batteries by a factor of four when combined with mining. Batten sees any tax cuts from Trump’s bill as encouraging more market-driven innovation.

“So if solar operators (as some already have), start looking at a coordinated solar/Bitcoin mining rollout solution, that’s a more economically sustainable alternative than depending on subsidies, which may or may not exist depending on factors outside of your direct control.”

Bonus Depreciation: A Lifeline for Bitcoin Miners

On the campaign trail, Donald Trump promised to eliminate the clean energy tax credits passed by former President Joe Biden under the Inflation Reduction Act of 2022. The tax credits were a key pillar of the Biden administration.

Trump argued that energy subsidies are expensive and harmful to business. In a post on his Truth Social network over the weekend, Trump continued his attacks on green tax credits, calling them a “giant scam”.

“I would prefer that this money be used somewhere else, including reductions,” he said. “Windmills and the rest of this junk are the most expensive and inefficient energy in the world, is destroying the beauty of the environment (sic).”

However, Trump’s “big, beautiful bill” revives an old provision that could help Bitcoin miners “wipe out” their tax bills — 100% bonus depreciation.

As Cryptonews previously reported, the clause allows companies to promptly deduct the full cost of capital expenditures like new mining equipment from taxable income. Under the bill, Bitcoin miners can write off 100% of hardware costs in the year of purchase. It can apply when a firm buys new mining equipment, such as application-specific integrated circuit (ASIC) miners.

For example, a miner spends $30,000 to buy three ASIC miners for $10,000 each. Under 100% bonus depreciation, the miner’s $30,000 mining hardware purchase becomes a $30,000 tax deduction upfront.

If a miner earns as little as $5,000 in revenue that year, they can report a $25,000 paper loss. Mining firms or individuals can use the faux loss “to offset income from your job, business, or investments.”

“Depending on your tax bracket, that could save you $7,000 to $10,000 in taxes,” tax expert Arniel Sia posted on X in late May.

Existing Internal Revenue Service (IRS) rules require firms to depreciate large equipment buys over many years. Tax deductions are spread out across an asset’s useful life, typically five years for ASIC miners.

Blockware’s Jappa believes the 100% bonus depreciation is a game-changer.

“This will allow miners to write off the full cost of their mining hardware (ASICs) in a single tax year – leading to major tax savings and higher net returns for Bitcoin miners,” he told Cryptonews.

Jerlis, the EMCD Bitcoin mining pool CEO, said hardware makes up the majority of mining capital expenditures, estimated at somewhere between 60%-70%. The tax break from bonus depreciation could offset solar-related price hikes, especially for miners using mixed energy sources, he said.

Energy Independence

Apart from solar, Trump’s push for “domestic energy independence,” with plans to scale back environmental regulations while promoting things like natural gas and nuclear expansion, could lower costs across the industry.

As the Blockware CEO Jappa notes, Bitcoin miners are “adaptable and non-discriminatory,” prioritizing the cheapest source, whether subsidized solar or deregulated gas. They could benefit from Trump’s pivot, he says.

“Policies that encourage natural gas production, reduce regulatory barriers for new energy projects, etc., would all result in lower energy prices for Americans and higher profitability for Bitcoin mining.”

According to the latest Cambridge Centre for Alternative Finance study, more miners are switching to cheaper, off-grid power. It says the 52.4% sustainable power used in BTC mining includes 9.8% nuclear and 42.6% renewables like hydro, solar, and wind.

For the first time, natural gas has replaced coal as the single largest energy source in Bitcoin mining — a process that involves solving complex mathematical puzzles to verify transactions and add them to the blockchain.

The report, published in April, says natural gas, a cleaner burning fuel, now accounts for 38.2% of the electricity used to mine BTC, up from 25% three years ago. Coal usage has dropped to 8.9% from 36.6% during the same period.

Meanwhile, Bitcoin-related emissions have remained steady over the last three years, stabilizing at 39.8MtCO2e (megatons of carbon dioxide equivalent), thanks to improved machine efficiency and a switch to renewable power.

Crypto Writer

Arslan Butt

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Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis…

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Last updated: 

June 3, 2025

Bitcoin (BTC)’s price action around the $105,000 level has market technicians buzzing. After its historic push into six figures, BTC has carved out a textbook symmetrical triangle formation that’s nearing completion. What makes this setup particularly compelling isn’t just the pattern itself, but the convergence of multiple technical factors suggesting we’re on the cusp of a breakout.

The triangle pattern, visible on the 2-hour chart, shows a series of lower highs meeting ascending lows, creating a compression zone that typically resolves with a powerful directional move. The trendlines are converging at around $105,500, forcing a decision point for traders within potentially the next 24-48 hours.

Bitcoin Key Technical Indicators Signals Flash Green

The current technical landscape strongly favors the bulls:

1. RSI divergence is unmistakable, with the indicator forming higher lows while price temporarily dipped, a classic sign of waning bearish momentum.
2. The MACD histogram which has shifted from negative (-8.218) to positive territory (+218) with the blue line crossing above the signal line, indicating building momentum.
3. 50-period EMA at $105,420 has repeatedly caught price drops, functioning as dynamic support

What’s particularly telling is the volume profile during this consolidation. Trading volume has steadily decreased as the pattern forms, exactly what technical analysts want to see before a breakout. This declining volume confirms the pattern’s validity and suggests accumulation rather than distribution.

Smart Money’s Triangle Trading Playbook: Bitcoin Breakout Ahead?

For the moment, Bitcoin price prediction remains neutral, given the symmetrical triangle pattern, keeping BTC in a narrow range. For traders looking to capitalize on this high-probability setup, the strategy is surprisingly straightforward, though timing is everything.

The classic entry point comes on a confirmed breakout above $106,767, with most professionals requiring both price action and volume confirmation. The typical target, measured by projecting the triangle’s height from the breakout point, suggests a move toward $109,000.

Smart money places stops just below the most recent swing low at $104,098, tight enough to quickly invalidate the trade if wrong, but with enough room to avoid getting shaken out by normal market noise.

With institutional players like Sber launching Bitcoin-linked bonds and Strategy (formerly MicroStrategy) raising another $250M for BTC purchases, the fundamental backdrop supports what the charts are telling us: Bitcoin’s next leg up may be closer than many realize.

BTC Bull Token Presale Nears $7.8M Cap as 61% APY Staking Attracts Investors

With BTC/USD trading near $105K, attention is rapidly shifting to altcoins, especially BTC Bull Token ($BTCBULL). As of today, the presale has raised $6,772,528.93 out of a $7,789,647 cap, with just over $1 million left before the next price hike.

BTC-Pegged Rewards and Supply Burns Drive Scarcity

BTC Bull Token’s innovative mechanism ties rewards directly to Bitcoin’s price. Here’s how it works:

• BTC Airdrops: Token holders receive BTC rewards, with presale participants enjoying priority.
• Supply Reductions: For every $50,000 increase in BTC’s price, a portion of $BTCBULL is burned, reducing overall supply and supporting token value.
• Current Token Price: $0.002545, poised to rise as the cap nears.

This approach blends dynamic rewards with built-in scarcity, aligning $BTCBULL’s value with Bitcoin’s performance.

61% APY Staking Pool Without Lockups

BTC Bull Token’s staking pool offers an enticing 61% APY, currently holding 1,731,936,103 $BTCBULL. The key benefits include:

• No Lockups or Fees: Investors can stake and unstake their tokens freely without incurring penalties.
• Full Liquidity: Access funds anytime, unlike typical DeFi lockups.
• Consistent Yields: Passive income for token holders, independent of market conditions.

This structure appeals to both seasoned DeFi investors and newcomers seeking yield without complex terms.

Momentum Builds Ahead of Presale Cap

With less than $1 million left before the presale closes, buyers are moving fast. BTCBULL’s combination of BTC-tied rewards, strategic burns, and high-yield staking is driving participation. The presale offers an opportunity to enter before the subsequent price increase, especially as BTC’s price action intensifies.

Key Highlights:

• USDT Raised: $6,772,528.93 / $7,789,647
• Token Price: $0.002545
• Total Staking Pool: 1.73 billion $BTCBULL
• Staking APY: ~61%

BTCBULL Token’s innovative model is attracting attention as it nears its hard cap. The presale window is closing quickly, making this the last chance to secure the current price before the subsequent price increase.

In a fresh 12-hour chart shared on X, independent technician Cantonese Cat (@cantonmeow) underscores what he calls a “Bollinger Band squeeze” on Dogecoin, hinting that volatility could be about to erupt.

Dogecoin Bollinger Bands Hint At ‘Huge Move’

The chart, captured at 03:54 UTC on May 21, fixes the memecoin at $0.22967 while the 20-period simple moving average (the Bollinger basis) tracks marginally lower at $0.22717. The upper and lower bands are parked at $0.24260 and $0.21175 respectively, compressing the trading envelope to barely three US cents and leaving just a 13.6% gap between the extremes—its tightest spread since early April’s doldrums.

The chart lays out a clear chronology of volatility expansion and subsequent contraction. From May 6 onward Dogecoin erupted out of a month-long base, sprinting from the mid-$0.16 zone to print a local peak roughly at $0.26. That impulse detonated the bands to their widest reading in six weeks. Since then, the DOGE price has traced a shallow pull-back but—importantly—has not surrendered the 20-SMA. Each dip into the mid-$0.21 area has been absorbed, carving out progressively higher lows and turning the mid-band into dynamic support.

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With the bands now coiling, traders are eyeing the inflection points telegraphed by the indicator. A decisive 12-hour settlement beyond the upper rail at $0.243 would release price into open air, exposing the recent swing high at $0.27 and, beyond that.

Conversely, a candle body punched through the lower rail at $0.212 would nullify the short-term bullish structure and likely drag Dogecoin toward the psychological $0.20 handle and May’s value area near $0.16. Until either threshold gives way, the squeeze itself remains the story. “Bollinger band squeezing, getting ready for the next huge move,” the analyst writes fittingly.

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DOGE Channel Breakout Is Brewing

Shifting up to the one-day view, Dogecoin’s action since the November-2024 peak is contained by a broad descending channel whose ceiling now descends through the $0.24 corridor. Price is camped directly beneath that upper rail at $0.231, an area that also coincides almost to the cent with the 61.8% Fibonacci retracement of the full November-high–to–mid-March-low leg ($0.234).

The confluence creates a technically potent lid: a daily close above it would not only mark the first breach of the seven-month channel but would simultaneously reclaim the “golden ratio,” an event that historically invites trend acceleration.

If bulls can force settlement north of the overhead trendline and the 0.618 Fib, the next magnet resides at the 0.5 retracement ($0.2824). Beyond that, the 0.382 level at $0.3300 and the 0.236 at $0.3890 bracket the higher targets inside the channel’s former interior.

Failure here would leave a well-defined support ladder: the 200-day EMA at $0.217, the 100-day at $0.207, and the cluster around the 0.786 Fib at $0.1669. Only a decisive break of those shelves would re-energise bears sufficient to revisit the March capitulation trough at $0.13.

Featured image created with DALL.E, chart from TradingView.com

It was quite the coincidence that the cryptocurrency market jolted back to life after Easter Sunday, with Bitcoin leading the way with more than a double-digit gain. While the price of BTC continues to hold above the critical $94,000 level, the premier cryptocurrency seems to be losing some momentum.

Unsurprisingly, investors appear to be increasingly confident in the promise of this recent rally, as significant amounts of BTC continue to make their way off major centralized exchanges over the past few days. Here’s how much investors have moved in the past few days.

Over 35,000 BTC Move Out Of Coinbase And Binance

In a Quicktake post on the CryptoQuant platform, crypto analyst João Wedson revealed that Binance, the world’s largest cryptocurrency exchange by trading volume, has seen increased activity over the past few days. The exchange netflow data shows that huge amounts of Bitcoin have been withdrawn from the platform in recent days.

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According to CryptoQuant data, a total of 27,750 BTC (worth $2.63 billion at current price) was moved out of Binance on Friday, April 25. This latest round of withdrawals represents the third-largest net outflow in the centralized exchange’s history.

The movement of significant crypto amounts from exchanges, which offer services like selling to non-custodial wallets, suggests a potential shift in investor sentiment and strategy. Large exchange outflows often signal increased confidence of holders in the long-term potential of an asset.

Wedson noted that the recent outflows do not guarantee a price rally for Bitcoin, but they do signal strong institutional activity, which is often a precursor for major volatility. Citing China’s crypto ban in 2021, the crypto analyst highlighted how massive exchange outflows didn’t prevent the dump.

At the same time, Wedson mentioned that the continuous Bitcoin outflows over several days, like during the FTX collapse, preceded a price bottom and the eventual market recovery. Ultimately, the online pundit hinted at paying close attention to the overall trend of the exchange netflow rather than a single-day activity.

Similarly, more than 7,000 BTC (worth approximately $66.5 million) have made their way out of the Coinbase exchange. According to the CryptoQuant analyst Amr Taha, this negative exchange netflow could be an indicator of increased institutional activity, as Coinbase is known as the primary crypto vendor for US-based institutions.

Taha said:

These large outflows typically suggest accumulation by institutions or large investors, potentially signaling bullish sentiment.

The analyst outlined that if the dwindling exchange reserves correlate with an increased spot demand or ETF inflows, a supply squeeze could be on the horizon, potentially pushing the price to the upside.

Bitcoin Price At A Glance

As of this writing, the price of BTC sits just beneath $95,200, reflecting an almost 2% increase in the past 24 hours.

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Featured image from iStock, chart from TradingView

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Ethereum is down 55% from its December high, reflecting the broader weakness that has hit the crypto market amid escalating global uncertainty. Much of the recent pressure comes from US President Donald Trump’s aggressive tariff policies and unpredictable economic stance, which have rattled investor confidence and driven a risk-off sentiment across financial markets. High-volatility assets like Ethereum have been particularly hard hit, with bulls struggling to hold critical support levels and sellers continuing to dominate short-term price action.

Despite the bearish outlook, on-chain data provides a glimmer of hope for Ethereum’s long-term prospects. According to CryptoQuant, Ethereum exchange reserves have been steadily declining since 2022 — a trend that suggests a continued reduction in available supply on centralized platforms. While this hasn’t translated into upward price action yet, it points to a potential supply squeeze once demand returns.

For now, ETH remains under pressure with no immediate signs of a reversal, but the shrinking exchange supply could set the stage for a strong rally if buying interest picks up. Until then, Ethereum continues to trade in a fragile state, with investors closely watching for signs of support or further breakdown in the coming weeks.

Ethereum Tests Critical Support As Exchange Supply Drops

Ethereum is testing critical demand levels as the market continues to lean bearish. After weeks of persistent selling pressure, ETH is now trading below the $1,800 level — a zone that many analysts view as a last line of defense before deeper losses. The broader macroeconomic backdrop remains challenging, with trade war fears and tightening financial conditions keeping risk assets under pressure.

Ethereum has been particularly weak since late February, when bulls lost control following the breakdown below $2,500. Since then, price action has steadily declined, and hopes for a bullish cycle have faded. Investor sentiment is fragile, and bulls have yet to show enough strength to reclaim broken support levels or initiate a meaningful recovery.

However, there are signs of long-term potential building beneath the surface. According to top analyst Quinten Francois, ETH supply on exchanges is plummeting. Shared via X, CryptoQuant data shows a significant downtrend in Ethereum held on centralized platforms — a signal that investors may be moving assets into cold storage, reducing sell-side pressure.

This ongoing decline in exchange supply historically precedes bullish breakouts. Once demand returns and price consolidates, the thin supply on exchanges could act as fuel for a sharp rally. While current conditions remain bearish, the structural reduction in available ETH offers a compelling setup for a future rebound.

For now, Ethereum must hold above the $1,750–$1,800 range to prevent a deeper slide, but long-term holders are watching closely for the moment when reduced supply meets renewed buying pressure.

ETH Trades Below Key Weekly Indicators

Ethereum is currently trading below both the weekly 200-day moving average (MA) around $2,500 and the exponential moving average (EMA) near $2,250 — key long-term indicators that now act as overhead resistance. This breakdown highlights the severity of the ongoing correction, with bulls under heavy pressure to prevent further losses. ETH is now flirting with its lowest weekly close since October 2023, adding to concerns that the downtrend could deepen if buyers fail to step in soon.

Momentum remains weak, and bullish attempts to recover have been short-lived, as macroeconomic instability and continued selling pressure weigh on the broader crypto market. For Ethereum to avoid further downside, it must hold the $1,800 level — a key demand zone and psychological threshold.

If bulls manage to defend this level and reclaim the $2,000 mark in the coming days, it could signal the beginning of a recovery rally. Reentering this range would shift sentiment and possibly trigger renewed buying interest. Until then, ETH remains vulnerable, and a close below $1,800 could open the door to a retest of lower support levels, potentially accelerating the decline if sentiment worsens further.

Featured image from Dall-E, chart from TradingView 

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