updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Ethereum has seen a sharp 14% drop in less than two days, intensifying concerns across the crypto market during a selloff that began earlier this week. The bearish sentiment has left many investors disheartened, with Ethereum struggling to reclaim higher price levels. Frustrated by the consistent underperformance, some investors are beginning to lose faith in the altcoin giant, seeking opportunities elsewhere.
Despite the negative sentiment, top analyst Ali Martinez has shared an optimistic outlook for Ethereum. Martinez’s analysis suggests that a downswing to the $2,900 level could present a highly favorable “buy-the-dip” scenario for long-term investors. According to Martinez, this potential decline would lay the groundwork for Ethereum to target significantly higher levels, with a bullish price goal of $7,000 in the coming cycle.
The current market conditions have sparked uncertainty, but many experts believe the upcoming months will prove pivotal for Ethereum. As the altcoin leader grapples with its recent declines, investors and traders alike are closely watching key support levels to assess whether ETH can rebound from this downturn. With Martinez’s bullish target on the horizon, could this dip pave the way for Ethereum’s next big rally?
Ethereum has faced a tough journey through 2024, with lackluster performance trailing behind Bitcoin’s dominance. The new year hasn’t offered much reprieve, as Ethereum started 2025 with additional declines, leaving many investors frustrated. While Bitcoin continues to command attention, fueling what some are dubbing a “Bitcoin cycle,” altcoins, including Ethereum, have struggled to gain momentum.
However, not all hope is lost. Top analyst Ali Martinez recently shared a more optimistic perspective on X, suggesting that Ethereum’s current price action might be setting the stage for significant future gains. Martinez’s analysis points to a potential downswing to $2,900 as a highly bullish opportunity for Ethereum. He emphasized that this level would represent an ideal “buy-the-dip” scenario, potentially setting the stage for Ethereum to target a remarkable $7,000 in the next cycle.
According to Martinez, the ongoing bearish price suppression is a natural part of the market cycle. Once this phase ends, Ethereum could be primed for a substantial rally. However, for this bullish narrative to materialize, Ethereum must first reclaim key demand levels to reignite investor confidence and build momentum.
As Ethereum navigates these turbulent times, analysts and traders are keeping a close watch on critical support levels, waiting to see if this dip truly becomes a launchpad for Ethereum’s next major move.
Ethereum is trading at $3,300 after enduring a sharp sell-off that drove the price down to $3,206, creating a sense of fear and uncertainty in the market. Despite the aggressive downturn, Ethereum’s price action is showing resilience, setting a higher low on the daily time frame. This subtle shift in structure offers hope for a potential recovery, signaling that demand might be quietly building.
For Ethereum to regain its bullish momentum, bulls need to reclaim the $3,900 level promptly. This critical zone acts as a gateway to reestablishing a strong upward trend and boosting market confidence. However, the path to recovery may take time as Ethereum stabilizes and recovers from its recent bearish phase.
While the market sentiment remains cautious, Ethereum’s ability to hold above key support levels suggests that a swift surge could follow if demand rises. Investors and analysts are closely watching these levels, waiting for a breakout that could mark the beginning of a new bullish cycle. For now, patience is key as Ethereum navigates its way through this challenging phase, aiming to position itself for stronger price action in the weeks ahead.
Featured image from Dall-E, chart from TradingView
2022 demand for gold swelled to a high not seen since 2011 on the back of vigorous buying by global central banks.
According to a CNBC report, gold demand surged to an 11-year high in 2022 following massive central bank purchases. The World Gold Council said that active retail investor buying contributed to the 18% increase in gold demand last year.
The demand for annual gold jumped to 4,741 tons (excluding over-the-counter or OTC trading) in 2022. This development represented the largest annual figure in eleven years, precipitated by a record Q4 demand of 1,337 tons. As the World Gold Council put it:
“Central bank net purchases in Q4 totaled 417t, lifting H2 total buying to 862t. Echoing Q3, data for the year’s final quarter was again a combination of reported purchases and a substantial estimate for unreported buying.”
In 2022, central banks purchased a 55-year high of 1,136 gold tons, with most of these purchases being “unreported.” Furthermore, last year’s surge in demand also marked a whopping 152% increase from 2021, when central banks purchased just 450 tons of gold. According to the World Gold Council, 2022’s demand spike is attributable to various unsavory macroeconomic factors, including geopolitical uncertainty and high inflation.
According to reports, gold investment demand increased by 10% to 1,107 tons. In addition, gold exchange-traded fund (ETF) holdings saw smaller outflows in 2022 than in the preceding year. Furthermore, jewelry consumption declined 3% last year to 2,086 tons. Much of this weakness came in the fourth quarter as gold prices rallied.
Meanwhile, the total annual gold supply grew 2% last year to 4,755 tons, with mine production attaining a four-year high of 3,612 tons. Commenting on the development, the World Gold Council stated:
“This marked a banner year for central bank buying: 2022 was not only the thirteenth consecutive year of net purchases but also the second highest level of annual demand on record back to 1950, boosted by +400t demand in both Q3 and Q4.”
Furthermore, the industry-backed group’s annual survey of policymakers revealed some critical drivers behind the need to hold gold last year. These key reasons included the precious metal’s “role as a long-term source of value” and “performance during times of crisis.”
Most of the central bank gold buying in 2022 came from emerging markets. Furthermore, CNBC reported that the largest buyer for the period was the Central Bank of Turkey, with 542 tons. In addition, China, Egypt, India, Iraq, Oman, and the UAE’s apex banks significantly boosted their gold reserves last year.
Gold began 2022 on sure footing, swelling 12% through March, but eased off at the onset of Federal Reserve interest rate hikes. This fiscal development resulted in a strong dollar and the formation of significant challenges for the precious metal.
Gold value typically weakens amid rising interest rates and a strong dollar partly because of its US dollar pricing. This trend impacts the purchasing power of non-US buyers and harms global gold demand.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
Dogecoin has accelerated its slide significantly over the past week. The coin is slowly trying to find some momentum, but gains over the last 24 hours have been modest at best. However, DOGE faces a major downside from a longer point of view. The coin could potentially slide by 60% over the coming weeks. Here are some of the things you need to know:
DOGE appears to be accelerating downwards to the $0.048 support.
A breakdown at this price will trigger a downside towards $0.041.
This will represent over 60% in losses from the current price.
Data Source: TradingView
There are two ways DOGE can avert a sharp decline in the near term. First of all, the coin will need to find buying momentum and push the price well above $0.1. If this happens, we could see a more sustained uptrend that limits the downside by a huge margin. But based on trends in the market right now, we do not think the coin will rise above $0.1.
Secondly, Dogecoin must hold the $0.048 support. This is relatively doable since the coin is already above this threshold by well over 20%. As long as broader weakness in the market eases, we are likely to see a stronger consolidation above this price.
But there is still a risk that these two scenarios will not play out. After all, the market has already turned bearish. As such, it is likely that DOGE will fail to keep the $0.048 support and consequently slide 60% from its price.
A full recovery for Dogecoin will need months. The coin is already way lower from its ATH, and it doesn’t seem like there is enough demand for meme coins to push it up.
But a slight recovery to $0.1 is not far off. For now, the short-term outlook for dogecoin is bearish.
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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
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Cardano price is on the brink of further decline as ADA fails to secure crucial footholds. The governing technical pattern suggests a bearish forecast of a 15% decline as the Ethereum killer struggles to find buyers in the market.
Cardano price has sliced below the descending parallel channel on that formed since September 12, signaling further losses are in store. The prevailing chart pattern suggests a 25% plunge toward $1.26 if ADA is unable to find crucial support to prevent greater decline.
Since breaking below the lower boundary of the parallel channel on November 24 at $1.72, Cardano price has continued to drop 13%, recording a new swing low at $1.48.
It appears that the nearest line of defense for Cardano price is at the July 10 high at $1.37.
If Cardano price fails to hold above the aforementioned foothold, ADA could plunge toward the bearish target at $1.26, where the support line given by the Momentum Reversal Indicator (MRI) and 127.2% Fibonacci retracement level coincide.
The Arms Index (TRIN), which gauges overall market sentiment, suggests that there are significantly more sellers than buyers in the market, pointing to an overall pessimistic outlook for Cardano price.
The recent sell-off was most likely kickstarted by eToro’s delisting of ADA, causing investors to back out. Prominent crypto attorney Jeremy Hogan suggested that the most likely reason for the exchange to stop Cardano trading was due to a warning from the United States Securities & Exchange Commission (SEC).
ADA/USDT daily chart
However, if the bulls decide to step in, the first resistance for Cardano price is at the July 4 high at $1.49, then at the June 15 high at $1.61. Additional hurdles may emerge for ADA at the 78.6% Fibonacci retracement level at $1.66, then at the 61.8% Fibonacci retracement level at $1.80.
Investors should also note that the 21-day Simple Moving Average (SMA) crossed below the 200-day SMA at $1.88, which indicates this level would be a tough challenge to crack for ADA while suggesting a bearish signal for Cardano price.