Ethereum price rallies above $3.1K after unexpected regulatory victory

ETH price hit $3,100, backed by a favorable court ruling and increased network activity.

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Bitcoin Bearish Pattern Points To $51,400 Price Target Analyst

Prominent X market analyst Cryptododo7 has shared a bearish prediction on the Bitcoin market amidst an ongoing price rally. Notably, the premier cryptocurrency has moved from $75,000 to $86,000 over the past three days indicating a rising level of market demand. Despite this positive development, Cryptododo7 warns that the potential for a significant downside still exists. Related Reading: Is Bitcoin Price Returning To $74,000? Analyst Identifies Pattern That Suggests So Bitcoin Completes Bearish Pennant Formation – Price Fall To Follow? In a recent post on X, Cryptododo7 shares a technical analysis of the BTC market showing the formation of a bearish pennant. Notably, this development follows a double top formation, a classic reversal signal that aligns with the downward price action observed over the past three months. While recent market gains point to a rising bullish momentum, Cryptododo7 states that the bearish pennant formation signals much potential for a deeper price correction. The bearish pennant forms after a strong downward price move i.e. flagpole as seen when Bitcoin dropped from $96,000 to $76,000 in late February. The pennant follows this price decline, which is just a short period of consolidation where price action forms a small symmetrical triangle. This pattern is usually marked by lower highs and higher lows bringing about two converging trendlines as seen over the last six weeks. Following this consolidation, the market price is expected to break below the lower trendline confirming the intention of a price fall.  According to Cryptododo7s post, the lower boundary of the bearish pennant is positioned around $74,000. A decisive close below this level would validate the bearish pattern and signal a likely continuation of the downtrend, with a projected price target of $51,400.  Cryptododo7 explains that $51,400 represents Bitcoin’s strongest support level as it aligns with the 200-week moving average. Amidst the current price rally, the analyst states that a retest to this support level is largely reasonable, especially considering ongoing macroeconomic developments. Related Reading: Solana Approaches Make-or-Break Level As Technicals And Fundamentals Align Analyst Bitcoin Faces Short Pressure From Binance Traders In other developments, crypto analyst Ali Martinez reports that 56.18% of Binance traders have opened short positions on Bitcoin, indicating that a majority of traders on the world’s largest exchange are predicting a price decline despite Bitcoin’s recent upward momentum. This development aligns with Cryptododo7s bearish warning as a large volume of traders still hold a negative market outlook amidst recent gains. At the time of writing, Bitcoin trades at $85,416 following a 2.50% gain in the past 24 hours. Meanwhile, the daily trading volume is down by 40.07% and valued at $25.10 billion. Featured image from Pexels, chart from Tradingview

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Binance Announces $90K DODO Token Airdrop for Web3 Wallet Users

Binance launches a new airdrop campaign offering $90,000 in DODO tokens to users of its Web3 Wallet, incentivizing adoption and trading on its platform. (Read More)

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Ethereum Breakdown: Analyst Eyes $1,200 Price Target

Following a period of intense price consolidation, the Ethereum (ETH) market experienced an eventful trading week that featured a damning rejection at the $2,100 price level which has emerged as a major resistance zone in recent times. Following this bearish development, analysts continue to speculate on the future of cryptos largest altcoin. Related Reading: Ethereum Price StrugglesIs Another Breakdown on The Horizon? Ethereums $2,100 Rejection Signals Further Decline, But How Low Can ETH Go? In an X post on March 28, a prominent market expert with X username Cryptododo7 provided valuable insights on Ethereums potential trajectory following its latest rejection at the $2,100 price zone. Via a technical analysis of the daily ETH/USD trading chart, Cryptododo7 hints that the ETH market sentiment is currently bearish suggesting a major downside in the coming weeks. Within the last six months, Ethereum suffered a breakdown from an ascending channel stretching to 2023. This negative development was initiated by the formation of a one-year-long double top as seen between 2024-2025. For context, a double top is a bearish reversal pattern consisting of two peaks that reach a similar level i.e. $4.100 in ETHs case, and are separated by a through resembling the letter M. The existence of a double-top formation since early 2025 has pushed ETH into a downward spiral during which the altcoins value has declined by 54% as it crashed below the lower boundary of its ascending channel. Following the latest rejection at $2,100, Ethereum seems less likely to re-discover its bullish form as its price now lingers around $1,870. According to Cryptododo7, Ethereum could undergo a sustained downtrend pointing to potential bearish targets around $1,130 – $1,200 based on the height of the now invalid ascending channel. Related Reading: XRP Price Eyes 20%v Move With Golden Pocket Appearance Ethereum Market Outlook Beyond technical indicators, the Ethereum market is being strongly influenced by Bitcoins market uncertainty and general macroeconomic factors. While the inauguration of US President Donald Trump marked a positive shift in US crypto policy as evidenced by the creation of the US Digital Stockpile Reserve among others, other administrative decisions on tariffs and international trade have negatively impacted the crypto market prices with investors selling their holdings in high-risk assets in fear of a global trade war. Looking forward, there is likely to be any stability on the macroeconomic front as talks of a potential economic recession continue to gain traction. At the time of writing, ETH was trading at $1,881 following a heavy 6.81% decline in the past day. ETH bulls must provide sufficient demand to break past the $2,100 to neutralize the current bearish prediction and perhaps ignite a market recovery. Featured image from Pexels, chart from Tradingview

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Bitcoin Dominance To Peak At 68% Altcoin Season Incoming?

Amidst the ongoing consolidation in the crypto market, an analyst with X pseudonym cryptododo7 has observed certain developments with the Bitcoin dominance that could spell significant implications.  Related Reading: Bitcoin Dominance Tipped To Hit 57% Altseason Incoming? Bitcoin Dominance Climbs Higher As Altcoins Prepare For Takeoff In a recent X post on March 21, cryptododo7 shared a technical analysis on the Bitcoin Dominance chart hinting at a possible altseason. The crypto analyst noted that Bitcoin Dominance may be poised for a sustained uptrend following a breakout and successful retest of a bullish pennant formation at the 61.25% level. Generally, the bullish pennant forms after a strong upward price movement as seen in early 2025 in the chart below. This price surge (known as the flagpole) is followed by a consolidation phase in which price movements make higher lows and lower highs thereby forming a symmetrical triangle i.e. the pennant. With a successful breakout and retest of the bullish pennant, Bitcoin Dominance has confirmed expectations of a major surge, with Cryptododo7 predicting a potential target of 67.51%. However, the crypto analyst cautions that this rise may not signal a market-wide rally,  as Bitcoin Dominance may surge alongside a decline in Bitcoin and altcoins price. Albeit, the analyst further states this projected dominance top of 67.51% will potentially represent the peak of Bitcoin Dominance in this bear market, signaling a possible altseason. The altseason, which is a prominent period in the crypto market cycle, is marked by altcoins outperformance of Bitcoin which is confirmed by a decline in Bitcoin Dominance. Certain analysts have previously beaten down the odds of an altseason in the current cycle citing a massive increase in altcoin numbers over the last four years. However, other analysts such as Cryptododo7 remain optimistic stating an altseason will likely follow Bitcoin Dominances surge to 67.51%. During this period, altcoins are expected to experience massive capital inflows potentially as high as $627 billion. Related Reading: Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours Accumulation Trend? MACD Curl Hints At Possible Reversal – More Positives For The Altseason? In other developments, X platform MoreCryptoOnline reports the Weekly MACD (Moving Average Convergence Divergence) of the total crypto market cap (excluding the top 10 coins) is beginning to curl upwards indicating a potential bullish shift in the altcoin market. For context, the MACD is a commonly used momentum indicator that helps identify potential trend reversals. And while this signal suggests a possible shift, it remains an early-stage confirmation of the altseason. At press time, the total crypto market capitalization stands at $2.76 trillion, with Bitcoin accounting for $1.67 trillion of this value. Meanwhile, the CoinMarketCap Altseason Index sits at 21, suggesting that an altcoin boom is not yet imminent. Featured image from DEXYNTH, chart from Tradingview

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Bitcoin Nears $76,000 Target Amid Price Correction But Will This Support Hold?

Over the past week, Bitcoin has experienced a strong market correction with prices falling as low as $80,000. Based on a double top formation, Bitcoin is expected to head to $76,000 before re-establishing an uptrend. However, market analyst Cryptododo7 has indicated the possibility of a lower market bottom. Related Reading: Bitcoin Miners Are Hoarding Their Crypto Despite PlungeHeres What It Means Bitcoin Bears In Control: Will $67,000 Emerge As Ultimate Support Level? The Bitcoin market fell under siege in the last week with total liquidations reaching $670 million. During this period, the assets crashed by over 15% from an opening market price of $95,000 confirming the formation of a double-top pattern. For context, the double top is a bearish reversal chart pattern that appears after an uptrend. It consists of two peaks at a similar price level, separated by a pullback. This formation is well represented by Bitcoin’s price at $108,000 in December and $109,000 in January separated by the price correction in late December. Amid the falling prices in the past week, Bitcoin dipped below the double top neckline level at $91,500 confirming a price reversal. In accordance with the bearish signal, Bitcoin is expected to return to $76,000 around which it embarked on its price rally to its initial peak at $108,000. However, Cryptododo7 explains there is potential for BTC to rapidly drop to its maximum Fibonacci level at $67,000 which would serve as the support level with no further downside. In gauging the eventual ultimate Bitcoin support level, Cryptododo7 notes that market reaction at $73,000-$76,000 will be quite important as strong buying pressure at this level could result in a sharp price rebound. Related Reading: Dont Call Bitcoin Bottom Just Yet, CryptoQuant Head Says: Heres Why BTC Active Addresses Rise Amid Price Fall In other news, blockchain analytics firm IntoTheBlock reports that the number of Bitcoin active addresses is increasing despite the ongoing price fall.  Notably, this metric has reached its highest daily level since December 2024 suggesting a significant surge in on-chain activity.   Historically, such developments usually occur at major market turning points i.e. either peaks driven by new entrants rush or bottoms due to panic selling and opportunistic buyers. According to IntoTheBlock, this surge in on-chain activity could indicate that the BTC market could be at a crucial turning point, however, investors should note that no single metric guarantees a price reversal. At press time, BTC trades at $84,961 with a 2.54% increase in the past day. Meanwhile, daily trading volume is up by 13.69% and valued at $71.43 billion. Featured image from iStock, chart from Tradingview

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NEAR Chooses DODO as its Preferred DEX, Plans $7.5M Incentives with Funding from Proximity Labs

Proximity, NEAR Protocol’s Grant DAO, makes its first major investment with its funding DODO’s launch.

Continue reading NEAR Chooses DODO as its Preferred DEX, Plans $7.5M Incentives with Funding from Proximity Labs at DailyCoin.com.

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