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Crypto Price Analysis March-06: ETH, XRP, ADA, BNB, and SOL

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This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail.

cryptopost_friday (1)

Ethereum (ETH)

Ethereum closes another week in red after the price fell by 3%. Buyers tried to keep it above $2,400 after the news that ETH will be included in the upcoming US Crypto Strategic Reserve. However, they could not hold it there for long.

At the time of this post, Ethereum is trying to return to the resistance at $2,400, which has to break if an uptrend is to follow. While momentum on lower timeframes such as the 4h is bullish, on higher timeframes, like weekly, the trend is still bearish.

Looking ahead, ETH has a good shot at a recovery as long as it holds above $2,000. With the White House Crypto Summit expected this Friday, more good news could follow that can bring buyers back.

ETHUSDT_2025-03-06_14-20-40
Chart by TradingView

Ripple (XRP)

XRP rallied hard this week on the news that it will be included in the US Crypto Strategic Reserve. The price closes the week with a 13% gain. This is extremely positive, and for a brief period, the asset nearly touched $3.

To return on an uptrend, buyers will have to break the resistance at $3, which stopped the bullish impulse earlier this week. Considering the strong rally on Monday, the price entered a pullback, which may last a while before the next attempt at a breakout.

Looking ahead, XRP appears to be consolidating between $2 and $3. A breakout from this range will likely see the price move in a significant way. This latest news has also put buyers in an advantage.

XRPUSDT_2025-03-06_14-20-04
Chart by TradingView

Cardano (ADA)

ADA rallied 80% between last Sunday and Monday when Trump made his tweets about the US Crypto Strategic Reserve. The price stood around $1 for a brief period before a pullback took it under this key level. Nevertheless, ADA closes the week with an impressive 41% price increase.

This news has turned the chart bullish, but to confirm this trend can be sustained, ADA’s price has to reach a higher high. That would require a level above $1.32.

Looking ahead, ADA has a real shot at re-igniting its rally from November 2024. If buyers are to take over the price action, the current resistance at $1 and $1.3 will need to break. Support is found at $0.9.

ADAUSDT_2025-03-06_14-21-05
Chart by TradingView

Binance Coin was not mentioned by Trump last Sunday, hence its price did not move much and closed the week with a 2% loss. Nevertheless, BNB is found around $600 at the time of this post which is a great place for buyers to make their presence felt.

In the past week, BNB found excellent support around $550 where the asset always bounced as buyers returned. Right now, they are trying to turn $600 into a key support, but it is still early to confirm it.

Looking ahead, momentum may start to favor bulls in the coming days and volatility could spike on Friday as more news will emerge from US on their latest crypto policy. If BNB can stay above $600, buyers have the upper hand.

BNBUSDT_2025-03-06_14-21-24
Chart by TradingView

Solana (SOL)

Solana spiked to $180 when Trump tweeted about it being included in the US Crypto Strategic Reserve. However, sellers quickly rushed to take the price back to its starting position within 24h. This is why the asset only booked a 5% gain this week.

Even if the pullback on this news was significant, Solana still managed to confirm $134 as a key support that was tested several times and did not fold. This is positive and shows that buyers may soon try to break the current resistance at $164.

Looking ahead, Solana has a good opportunity to reverse the current downtrend which made a lower low recently. To confirm a reversal, bulls will have to bring SOL above $164 in the nearby future.

SOLUSDT_2025-03-06_14-19-40
Chart by TradingView
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Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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