Ethereum’s downtrend has paused at the critical $1.5K support zone. While this level may continue to provide short-term stability, a breakdown below it could initiate a sharp decline toward the $1K region.

Technical Analysis

By Shayan

The Daily Chart

ETH’s strong bearish momentum has been temporarily paused at the critical $1.5K support zone, resulting in a phase of sideways consolidation with mild volatility. This area has historically acted as a major support and holds psychological significance for market participants.

However, the recent formation of a death cross, where the 50-day MA crosses below the 200-day MA, reinforces the prevailing bearish sentiment. If the $1.5K level fails to hold, Ethereum will likely experience a sharp decline, with the $1.1K zone being the next significant target.

The 4-Hour Chart

On the lower timeframe, ETH continues to trade within a descending price channel, fluctuating between its upper and lower boundaries. The price recently bounced from the channel’s lower trendline, triggering a short-term bullish correction.

Yet, Ethereum has now approached the upper boundary of the channel near the $1.7K level, facing mild rejection. With overall market activity remaining subdued, any resurgence in selling pressure could invalidate the correction and lead to a fresh downward movement, potentially breaching the $1.5K support and targeting the $1K level in the medium term.

Onchain Analysis

By Shayan

The Binance liquidation heatmap offers valuable insights into potential price targets, as liquidity zones often serve as magnets for market movements. Ethereum’s recent consolidation phase has resulted in a significant cluster of liquidation levels just below the $1.5K support zone.

These levels, tied to long-position liquidations, are particularly appealing targets for institutional sellers and bearish traders. Should renewed selling pressure drive the price into this liquidity pocket, a wave of long liquidations could be triggered, potentially amplifying the downward momentum and pushing ETH toward the $1K threshold.

[PRESS RELEASE – Singapore, Singapore, April 16th, 2025]

Today, AB DAO officially announced the launch of a dual reward campaign in collaboration with Bitget (bitget.com), the world’s second-largest digital asset trading platform. In celebration of AB’s Token Generation Event (TGE), the campaign will distribute a total of 213,307,000 $AB, valued at approximately $2.6 million USD, to users worldwide—aiming to ignite participation and accelerate ecosystem activation.

Campaign 1: PoolX Staking – Stake AB & BGB to Earn $AB Airdrops

Staking Period: April 16, 2025, 10:00 – April 30, 2025, 10:00 (UTC+8)

Total Airdrop Pool: 135,173,000 $AB

Campaign 2: CandyBomb – Trade AB or BGB to Win $AB Airdrops

Event Period: April 16, 2025, 10:00 – April 23, 2025, 10:00 (UTC+8)

Total Airdrop Pool: 78,134,000 $AB

Official Bitget Event Announcement:

https://www.bitget.com/zh-CN/support/articles/12560603825693

In addition to this incentive campaign, AB DAO and Bitget will jointly execute a global co-marketing initiative, with a focus on key markets such as Southeast Asia, Europe, the Middle East, and North America. This partnership aims to expand AB’s visibility and presence across the global Web3 ecosystem.

The initiative marks a key milestone in AB DAO’s global expansion strategy. Moving forward, AB DAO will continue to onboard new trading platforms and ecosystem partners, accelerating the development of an open, transparent, and inclusive Web3 infrastructure.

AB DAO’s Mission: Empower 100 Million People Worldwide to Hold $AB

About AB Charity Foundation

AB Charity Foundation is dedicated to serving as a bridge between blockchain innovation and social welfare. We drive the development of the public chain ecosystem, establishing a transparent, efficient, and inclusive blockchain infrastructure to serve social good through technology.

Official Website: https://ab.org

Global Community Portal: https://www.ab.org/zh/community

Bitcoin’s price ascent came to a halt at $86,500 yesterday, where the asset faced enhanced selling pressure and dropped by over three grand in the following hours.

The altcoins are also in the red, with SOL, ADA, SUI, AVAX, and HBAR posting the biggest losses from the larger-cap cohort.

BTC Stopped at $86.5K

After last week’s violent rollercoaster, which saw BTC dumping from over $83,000 to under $75,000 and then recovering to the starting point, the cryptocurrency entered the weekend at around $84,000. It managed to defend itself from a possible price slip on Saturday and even went on the offensive on Sunday.

Monday began on an even more positive note as BTC challenged $86,000 for the first time in about a week. It failed there at first and was pushed south to $83,000, but the bulls seemed determined to continue this rally. The culmination, at least for now, came yesterday when bitcoin spiked above $86,000 and tapped a two-week peak of $86,500.

However, that was a brief run that ended there with a violent rejection. In the following hours, BTC lost a significant chunk of its value and dropped to $83,000 once again.

It has defended that level once again and now sits close to $84,0,00, but it is still over 2% down on the day. Its market cap has dropped to $1.660 trillion on CG, but its dominance over the alts keeps rising and is at 61% now.

Alts Back in Red

Most altcoins charted impressive gains over the past few days, but have turned red on a daily scale. The most painful declines come from SOL, ADA, AVAX, SUI, and HBAR, as all of those have dropped by more than 5% daily. Ethereum has lost the $1.6 support after a 4% slip, while XRP is below $2.1 after a 4.6% plunge.

Pi Network’s native token is back in the deep red, with a massive 16% drop to just over $0.6. Recall that PI’s price tumbled by double digits within an hour yesterday.

OM is the only evident exception today with a notable price surge, gaining over 25% daily after the recent crash.

The total crypto market cap has shed around $70 billion in a day and is down to $2.730 trillion on CG.