My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

Taking to X on April 26, one analyst notes that there is a high probability of Ethereum spiking in the sessions ahead because of thinning sell-side liquidity across major centralized exchanges like Binance and Coinbase. 

Thin Sell-Side, Big Potential Move For ETH

Thinning sell-side liquidity, as seen on order books across CEXes, means that few sellers are willing to liquidate. With few sellers on the market, a small upsurge in demand could theoretically see prices skyrocket. 

Even so, market makers could fill this imbalance by considering how the market works. At the same time, prices are not guaranteed to rally even if they remain as they are. 

Unlike new meme coins, for instance, Ethereum is extremely liquid; it is the second largest coin by market cap, only trailing Bitcoin. That means billions will be needed to push prices above the immediate resistance levels at $3,300 and $3,700, as clearly shown in the daily chart.

Ethereum has been under pressure for the better part of April following a drop from its all-time high of $4,090. Looking at the development in the daily chart, the coin is down 23% from all-time highs, finding strong rejection from the middle BB–or the 20-day moving average.

Analysts expect buyers to take over and reverse mid-April losses if a comprehensive breakout above $3,300 is marked by expanding volume. If not, ETH risks falling below $2,800, aligning with the April 12 and 13 sell-off. 

Spot Ethereum ETF Launch In Hong Kong, Adoption Fuel Optimism

However, traders are generally bullish, anticipating a price rebound in the months ahead. Several factors could propel ETH prices upwards. A major catalyst is the highly anticipated launch of spot Ethereum exchange-traded funds (ETFs) in Hong Kong. Like the impact of spot Bitcoin ETFs on BTC prices, this product for ETH may prop up the coin, allowing traditional investors to gain exposure to the second world’s most valuable coin. 

In the United States, the largest obstacle preventing the Securities and Exchange Commission (SEC) from approving a similar product is the uncertainty of ETH’s classification. On April 25, ConsenSys sued the regulator, pressing the regulator to classify the coin as a commodity.

Beyond the launch of this product by the end of the month, Ethereum’s core strengths remain. The ongoing adoption of Ethereum and Layer 2 scaling solutions continues. As more protocols choose to deploy on the smart contracts platform, it fosters optimism for Ethereum’s long-term viability and growth.

Feature image from Canva, chart from TradingView

In the world of cryptocurrency, anticipation runs high as expert voices weigh in on the future of Bitcoin’s price. Tony Edward, a prominent figure in the crypto community and the host of the Thinking Crypto Podcast, recently shared insights that shed light on potential market movements.

Notably, his perspective provides valuable guidance amidst the fluctuating landscape of digital assets.

Analyst Anticipates Bitcoin Price Correction

Tony Edward, renowned for his expertise in the crypto space, offered a cautious perspective on Bitcoin’s recent surge. Despite the excitement surrounding Bitcoin’s climb above $48,000 on February 11, Edward remains wary of potential bearish scenarios.

In a recent post, he suggested a possible correction to the $33,000 to $35,000 range before any sustained upward momentum, which might send Bitcoin to a new all-time high. Notably, this prediction comes amid a period of subdued trading activity for Bitcoin over the last 24 hours.

Meanwhile, acknowledging the significance of Bitcoin’s recent price movements, Edward emphasized the need for caution. He cautioned against premature celebration, citing the possibility of a significant correction in the near future.

However, despite this cautionary stance, Edward pointed out a silver lining for investors. He noted that altcoins are poised to benefit from Bitcoin’s upward momentum, suggesting potential opportunities in the broader cryptocurrency market.

Also Read: Ripple CLO Speculates On SEC Lawyers Whistleblowing Against Gary Gensler Amid Exodus

Market Dynamics & Price Performance

Amidst Bitcoin’s price fluctuations, the global crypto market experienced a modest retreat following a week of substantial gains. However, futures market data provides additional insights into investor sentiment. Notably, Bitcoin Futures Open Interest (OI) saw a notable increase of 0.79% over the last 24 hours, reaching 452.07K BTC or $21.81 billion.

Despite a slight decline in Bitcoin OI on the CME Exchange, other platforms witnessed gains. For instance, Binance saw a 2.06% to 113.59K or $5.48 billion increase in Bitcoin Futures OI, while Bybit noted a surge of 1.63% over the last 24 hours to 76.46K BTC or $3.68 billion.

These contrasting movements underscore the dynamic nature of cryptocurrency markets, highlighting the importance of monitoring multiple indicators for a comprehensive understanding of market trends. Meanwhile, the Bitcoin price traded at $48,286.88 during writing, down by 0.21% from yesterday, while its trading volume rose 3.77% to $19.68 billion.

Over the last 24 hours, the largest crypto by market cap saw a high of $48,796.38 and a low of $47,830.71, reflecting the volatile nature of the crypto market.

Also Read: US President Joe Biden Gets Laser Eyes, Bitcoin Maxis & Crypto Community’s Reactions

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.