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ETH Poised for a Large Move Following Successful Defense of $3K Level: Ethereum Price Analysis

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Ethereum’s price has been correcting over the last few weeks following a decisive rejection from the $4,000 resistance level back in March. Yet, the market might be about to make a U-turn.

Ethereum Price Analysis: Technicals

By TradingRage

The Daily Chart

On the daily chart, the price has been forming a large descending channel pattern since the beginning of the correction. The lower boundary of the channel has recently been tested and pushed ETH to the upside.

The market has also held above the $3,000 support level, and investors are hoping for a rally toward the $3,600 resistance zone in the short term. Yet, so long as the channel remains intact, a further bullish continuation cannot be expected.

eth_price_analysis_chart_2204241
Source: TradingView

The 4-Hour Chart

The 4-hour chart further clarifies the recent price action. It is evident that the $3,000 support level has prevented the price from dropping any lower, and the market is forming a bottom.

The cryptocurrency is currently running toward the midline of the descending channel, and a breakout above would pave the way for the price to attack the $3,600 resistance level once again. With the Relative Strength Index showing values above 50%, the momentum is also in favor of a bullish move in the next few days.

eth_price_analysis_chart_2204242
Source: TradingView

Sentiment Analysis

By Shayan

Ethereum Open Interest

The impact of futures market sentiment on significant price movements cannot be underestimated, as the intensity of long and short positions, coupled with the possibility of substantial liquidations, serves as a primary catalyst for market volatility.

A crucial indicator in assessing this sentiment is Open Interest, which quantifies the number of open perpetual futures contracts across various cryptocurrency exchanges.

In light of Ethereum’s recent downtrend, it is noteworthy that the Open Interest metric has followed a similar trajectory, experiencing a substantial decline. This alignment suggests a slowdown of activity within the futures market.

Consequently, ETH appears poised for the resurgence of either long or short positions, potentially initiating a fresh and decisive market movement in either direction.

eth_open_interest_chart_2204241
Source: CryptoQuant
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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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3 Months Post-Launch: Nexchain’s AI-Powered Blockchain Gains Traction as One of the Best Presale Cryptos in 2025

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Nexchain is leading the next wave of blockchain innovation by integrating artificial intelligence directly into its core architecture. Launched as the world’s first AI-powered blockchain platform, Nexchain aims to solve long-standing challenges in speed, scalability, and decentralization.

At the heart of this ecosystem is the NEX token, now in an active presale in stage 14. Whether it’s powering AI services, enabling lightning-fast smart contract execution, or connecting dApps across multiple blockchains, Nexchain sets a new benchmark for what Web3 platforms can achieve.

With a successful presale already underway, Nexchain is quickly trying to position itself as one of the best crypto presales in 2025.

Nexchain Brings AI to the Blockchain World

Nexchain is the first AI-powered blockchain platform that leverages machine learning to deliver lightning-fast, highly secure, and adaptable network operations. Built to overcome the limitations of traditional blockchain systems, Nexchain introduces a hybrid consensus model that merges Proof-of-Stake with AI algorithms. This combination ensures real-time optimization, network stability, and maximum efficiency for every transaction and smart contract.

One of Nexchain’s defining features is its unmatched transaction throughput—up to 400,000 transactions per second. This speed is achieved through parallel processing and predictive resource allocation, allowing for instant transfers even under heavy network load. It positions Nexchain as a go-to platform for DeFi, gaming, and AI-based decentralized applications.

Another core advantage is Nexchain’s low fees. Thanks to its energy-efficient architecture and AI-enhanced operations, the platform offers transaction costs as low as $0.001. This makes it accessible to users and developers across all markets.

Finally, Nexchain supports true interoperability. Through cross-chain bridges and seamless blockchain integrations, Nexchain enables developers to create dApps that connect across multiple networks.

From Ethereum to Solana, Nexchain ensures fluid communication and asset transfer across platforms. Combined, these features make Nexchain a powerful, future-ready platform that aligns AI with decentralized finance and development.

NEX Token Presale Gains Momentum

The NEX token is the engine that powers the entire Nexchain ecosystem. Currently priced at $0.054, it has entered its 13th stage of presale and has already raised $2.6 million. This steady fundraising success reflects strong investor confidence in Nexchain’s AI-powered blockchain vision.

NEX serves multiple functions within the platform. It is used to pay transaction fees, stake in the network’s hybrid consensus mechanism, access AI services, and participate in decentralized governance. Token holders can vote on proposals and upgrades and even influence how resources are allocated within the platform, empowering the community from the ground up.

With each presale stage, the token’s price increases, potentially rewarding early adopters and encouraging long-term participation. Given its technical capabilities and real-world utility, NEX is more than just a token—it’s a core component of a scalable, intelligent blockchain network.

As demand for AI-integrated solutions grows, the team behind Nexchain is attempting to position its fundraise as one of the top crypto presale opportunities of 2025.

Nexchain Emerges as a Top Crypto Presale for 2025

With over $2.6 million raised and a rapidly growing user base, Nexchain is making a strong case as one of the more interesting presale tokens of 2025. It combines the speed and scalability of advanced blockchain systems with the intelligence and adaptability of artificial intelligence—something few other platforms can offer.

As the NEX token fuels every layer of the network, from staking and governance to smart contract execution and AI service payments, it offers tangible value to holders from day one. Its low transaction fees, ultra-fast performance, and cross-chain capabilities make it highly relevant in today’s fast-evolving crypto economy.

What sets Nexchain apart is its focus on long-term utility, developer support, and community empowerment. Rather than chasing trends, it is building foundational infrastructure for the AI-powered Web3 era. For investors looking for a future-proof crypto project with real-world potential, Nexchain stands out as one of the more interesting projects of the year.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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XRP and DOGE ETFs Face SEC Review Extension as Public Comment Sought

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The US Securities and Exchange Commission (SEC) has extended its review timeline for proposed spot cryptocurrency exchange-traded funds (ETFs), tied to XRP and DOGE.

After temporarily halting decisions originally slated for May 21 and 22, the Commission is now seeking public comments on them.

Ruling on XRP, DOGE ETFs

The delay affects the 21Shares Core XRP Trust, Grayscale XRP Trust, and Grayscale Dogecoin Trust. All three aim to offer investors exposure to their respective digital assets via ETF shares backed exclusively by XRP or DOGE, with index tracking and custodial services provided by industry-standard partners such as Coinbase Custody and CoinDesk Indices.

While the SEC has stated that this move does not suggest a leaning toward approval or denial, it is calling for public comments to assess better whether the proposals meet the standards of investor protection and market integrity outlined in the Exchange Act.

In the filings, the agency explained,

“Institution of proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. The institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”

Besides, the agency also postponed a decision on Bitwise’s proposal to allow staking in its Ethereum ETF, continuing a trend of extended timelines as the SEC sifts through an increasing number of crypto-related filings.

ETF Delays Are Routine, Not Surprising

Industry observers, including Bloomberg ETF analyst James Seyffart, weighed in on the SEC’s latest delay and noted that such extensions are routine. According to Seyffart, while several XRP-related products have upcoming review dates, early approvals are unlikely.

He added that the securities watchdog typically uses the full allotted time to evaluate 19b-4 filings, making October the more realistic window for final decisions. Seyffart also said that any approvals before late June or early July would be considered unusual, regardless of the SEC’s current stance toward crypto. In his view, early action, not delays, would be the real deviation from standard regulatory procedure.

Seyffart even went on to say that Litecoin ETF has a “higher likelihood” of getting approved first before all the other crypto ETFs.

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Ethereum Shows No Spike in Network Engagement Despite Successful Pectra Upgrade

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It’s been exactly two weeks since Ethereum successfully completed its Pectra upgrade, but the network has yet to feel the impact of the hard fork on user engagement.

According to an analysis by crypto data and insights platform Glassnode, Ethereum has not registered any new or returning users so far. In fact, user engagement has plunged since developers deployed the upgrade.

What Did the Pectra Upgrade Do?

Pectra introduced 11 Ethereum Improvement Proposals (EIPs) geared towards improving user experience and creating a future-proof network. The upgrade brought the execution and consensus layers together after incorporating a range of technical improvements.

Following the success of Petra, traditional crypto wallets, also known as externally owned accounts, now behave like smart contracts, enabling account abstraction. Validators can stake more than 32 ether (ETH) and up to 2,048 ETH, while there is enhanced compatibility between layer-1 and layer-2 chains.

In addition, there are reduced data verification costs for layer-2 rollups, and nodes can verify large data availability without a full download. Users can also sponsor transaction costs and pay gas fees in crypto assets other than ETH.

It is worth mentioning that Pectra was initially scheduled to go live on April 30. However, several technical and finality issues resulted in developers pushing the date forward to May 7.

Ethereum User Engagement is Down

Since Petra went live, the average number of new and resurrected addresses has fallen compared to their year-to-date (YTD) values. New Ethereum addresses have fallen 1.8%, while the resurrected ones have plummeted 8.4%.

However, churned addresses have also declined by 8.5%. Churned addresses refer to wallets that previously held ETH but have reduced their balance to zero. This often happens when more users embrace private crypto storage options. Although Pectra has not brought in new or returning users so far, the plunge in churned addresses raises the question of whether this is part of a broader cycle trend, which remains to be seen.

Meanwhile, Ethereum’s Realized Cap shows a reversal in a downward trend seen in the last three months. Glassnode noted that the metric, which tells the total capital stored in ETH, has risen from $240.8 billion to $244.6 billion since May 7, reflecting a $3.8 billion or 1.6% rise.

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