Crypto Technical Analysis Report 18th April 2025
Crypto trading activity saw a significant slowdown in Q1 2025. As per CoinGeckos latest report, spot trading volume on the top 10 centralized exchanges dropped to $5.4 trillion a 16.3% decline from Q4 2024. The quarter began with optimism following the election of a pro-crypto U.S. president and hopes for regulatory easing. However, macroeconomic headwinds soon took center stage. Bitcoin briefly touched a new all-time high of $109,356 but closed the quarter down 11.6%, marking its second-worst quarterly performance since Q2 2022.
Bitcoins unexpected surge to $85,000 has left many traders scratching their heads especially with the S&P 500 tumbling 5.7% in April and global markets still reeling from trade war tensions. The move marks a strong 14% rebound from its recent low of $74,400, igniting cautious optimism among investors eyeing the $90,000 level. Whats catching attention is Bitcoins growing divergence from traditional assets. Several indicators suggest a potential decoupling, as BTC shows resilience despite macroeconomic headwinds. Still, the rally hasnt outpaced gold, which soared to a new all-time high of $3,358 on April 16. This has fueled theories that central banks and governments are quietly upping their gold reserves, possibly signaling shifting dynamics in global store-of-value strategies. Bitcoin miners are signaling long-term confidence, with the network hashrate rising by 8% month-over-month. This uptick comes despite initial concerns that April 2024s halving cutting mining rewards might drive miners away due to reduced profitability. Traders feared that such pressure could trigger a major sell-off, especially since miners collectively hold around 1.8 million BTC. Instead, the continued growth in hashrate suggests that miners remain committed, reinforcing network security and long-term resilience.
On April 9, Ethereums market share slipped to 7.18% of total crypto market capitalization approaching its multi-year low of 7.09% from September 2019. This decline highlights Ethereums waning dominance amid rising competition. According to Santiment, network fees have dropped to a five-year low, pointing to reduced user activity and weaker transaction demand. Despite the current lull, Ethereum is gearing up for its Pectra upgrade, now slated for mainnet deployment on May 7, 2025, after multiple testnet delays due to technical setbacks. While low fees and engagement may seem concerning, such quiet phases have historically preceded strong recoveries, especially when core fundamentals remain intact.
As global economies brace for a potential recession, central banks are increasingly leaning toward expanding monetary supply. While the U.S. Federal Reserve has so far refrained from cutting interest rates or growing its balance sheet, other major economies have already initiated such measures. This divergence is intensifying pressure on the U.S., where economic cracks are beginning to appear. In China, for example, new bank loans surged to $500 billion in March 20% above forecasts signaling a strong rebound. Meanwhile, the U.S. dollar is weakening against major currencies, with the DXY Index falling to a three-year low, further pressing the Fed to reconsider its tight monetary stance.
Technical Outlook
BITCOIN
BTC witnessed a sharp correction after making the all-time high of $109,588. The price fell almost by 32% and made a recent low of $74,508. BTC made a Spinning Top near the support level of $73,500 and the prices bounced up to $86,100. Currently, the asset is consolidating and is trading in a narrow range from $83,000 to $86,000. BTC has a strong resistance at $90,000. Once it gives a breakout above this level, it can further rally up to $105,000.
ETH
ETH has been trading in a Descending Channel over the past four months. The prices plunged almost by 65% from the high of $4,107 to $1,385. The asset has strong support at $1,350 and has bounced almost by 20% up to $1,691. Post this move, ETH is consolidating and is trading in a range from $1,675 to $1,540. On a daily time frame, we can see the volumes have surged around $1,400, which indicates buying at lower levels.
SOL
SOL, after making the all-time high of $295.8, witnessed a massive fall. The prices plunged almost 67.5% and made a low of $95.26. The asset has made a Long Legged Doji candle at the low, which indicates indecision in trend. SOL has strong resistance at $150. Once it breaks and closes above the resistance with good volumes, we can expect it to rally further and test $175, whereas $120 and $95 will act as strong support levels for the asset.
Weekly Snapshot
| USD ($) | 09 Apr 25 | 17 Apr 25 | Previous Week | Current Week | |||
| Close | Close | % Change | High | Low | High | Low | |
| BTC | $82,574 | $84,749 | 2.63% | $84,696 | $74,437 | $86,429 | $78,936 |
| ETH | $1,668 | $1,583 | -5.12% | $1,844 | $1,387 | $1,690 | $1,505 |
| SOL | $119.06 | $134.70 | 13.14% | $123.90 | $96.59 | $135.91 | $112.19 |
| Crypto | 1w % Vol. Change (Global) |
|---|---|
| Bitcoin (BTC) | 82.71% |
| Ethereum (ETH) | 61.35% |
| Solana (SOL) | 67.86% |
| Resistance 2 | $110,000 | $2,150 | $175 | $691 |
|---|---|---|---|---|
| Resistance 1 | $90,000 | $1,750 | $155 | $650 |
| USD | BTC | ETH | SOL | BNB |
| Support 1 | $80,000 | $1,500 | $120 | $550 |
| Support 2 | $73,500 | $1,350 | $95 | $500 |
Market Updates
- Arizonas Strategic Digital Assets Reserve Bill (SB 1373) was approved on April 17 by the House Committee of the Whole, which involves 60 House members weighing in on the bill before a third and final reading and a full floor vote.
- US President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central banks political independence.
- Prime brokerage Hidden Road, which was recently acquired by Ripple for $1.25 billion, has secured a broker-dealer license from the Financial Industry Regulatory Authority (FINRA) a move that enhances its capacity in the fixed-income markets.
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