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Ethereum price forecast: bulls hold $2K support amid CEX outflows

  • Ethereum price hovered just above $2,000 as whales moved ETH off exchanges.
  • Large holder activity sees Ethereum exchange balances fall by over 74,000 ETH this week.
  • Bulls could eye $2,188 and potentially $2,600 amid a technical breakout.

Ethereum’s price is holding near the $2,000 level, with bulls eyeing fresh moves above what many analysts see as a crucial psychological level.

The top altcoin traded within a tight range on Thursday, as Bitcoin showed resilience near $70,000.

However, ETH could test recent highs above the level, with whales signaling fresh confidence through notable exchange withdrawals.

ETH whales move coins off exchanges

Details shared by the smartmoney on-chain platform Lookonchain on March 12 indicate that Ethereum whale activity is picking up new momentum.

The Lookonchain X account spotlighted two of these large holder moves, with a newly created wallet address withdrawing 11,629 ETH worth about $23.7 million from Binance.

This transfer is critical as fresh wallets signal new entrants positioning for long-term appreciation.

Notably, Lookonchain also spotted a 63,324 ETH transfer by the whale address 0x8E34. According to the details, this bullish move, worth about $131.2 million, was from the crypto exchange Kraken.

What does this mean?

Whale activity had recently subsided as bears threatened to annihilate bulls amid the Iran war.

However, with analysts projecting a likely scenario where crypto rallies in the coming months, exchange outflows are on the rise again.

The two whales have, for instance, moved over 74,950 ETH worth roughly $155 million from centralised exchanges.

Such large-scale shifts can reduce sell-side pressure as fewer coins are available on CEXs compared to historical averages. This relates to an indicator called the scarcity index, which, as the data shows, has shifted positively.

The upbeat outlook for the altcoin comes as Ethereum spot exchange-traded funds recorded a second consecutive day of net inflows with over $57 million on March 11, 2026.

Net inflows increased from $12.6 million on Tuesday, ending a three-day outflow streak.

US spot ETH ETFs are also on track for another week of positive flows, with ETH price holding near the $2,000 level through this period.

Ethereum price analysis

Bulls have struggled since losing the $3,000 mark earlier in the year, and at current levels, hover about 30% down year-to-date.

Macro and geopolitical headwinds have largely allowed bears to dominate. If BTC sinks amid the Iran war sentiment, Ethereum would likely plummet alongside it.

Yet, despite overall sentiment, prices have held within the $1,800-$2,100 range in recent weeks, and $2,000 has emerged as a key short-term pivot mark.

ETH presents a bullish outlook amid its consolidation around this level, with on-chain metrics such as stablecoin inflows, ETFs, and declining exchange reserves pointing to a potential uptick.

Meanwhile, technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence strengthen this perspective.

The daily chart shows the RSI hovers near 50, neutral but trending upward. The MACD boasts a bullish outlook with the histogram bars green and expanding.

Ethereum Price
Ethereum price chart by TradingView

If prices climb to the channel resistance, bulls may test the 50-day moving average at $2,188. The 100-day moving average provides a dynamic supply wall just above $2,600.

However, the moving averages are trending lower. A close below $1,950 might allow for a bearish retest of $1,800 and potentially YTD lows of $1,740.

ETH changed hands at around $2,057 at the time of writing.

The post Ethereum price forecast: bulls hold $2K support amid CEX outflows appeared first on CoinJournal.

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TRUMP meme coin retraces sharply as team moves 5 million tokens

  • TRUMP meme coin slides to $2.86 amid selling pressure.
  • The team has moved 5 million tokens to Binance, sparking fears of a sell-off.
  • The key support sits at $2.80 with $2.50 as the next downside level.

The price of Official Trump (TRUMP) memecoin has fallen sharply as selling pressure continues to dominate the market.

The politically themed meme coin is trading around $2.86 after losing more ground over the past 24 hours.

TRMP memecoin price chart
Source: Coingecko

This drop extends a deeper slide that has pushed the token down more than 16% over the last week.

The continued decline has left the asset hovering near its lowest levels since its explosive debut rally.

Analysts now believe the current move reflects a broader loss of momentum rather than a brief pullback.

Sentiment around the token has also cooled significantly as the excitement that once fueled its rapid rise fades.

Official Trump team moves $5 million tokens to Binance

The situation intensified after reports emerged that wallets connected to the project moved roughly five million TRUMP tokens to the exchange Binance.

The transfer was valued at more than $17 million at the time it occurred.

Large movements of tokens to exchanges often raise concerns that insiders may be preparing to sell, and such activity can quickly trigger anxiety among traders who fear additional supply entering the market.

That fear alone can be enough to push prices lower as investors rush to exit positions.

In this case, the timing of the transfer has added to the already bearish mood surrounding the token.

The market had already been showing signs of weakness before the transaction became public.

Selling pressure has remained steady for several weeks, preventing any meaningful recovery attempts.

Even brief rebounds have struggled to gain traction as traders continue to reduce exposure.

Lower trading volume in recent sessions also suggests that buying interest has faded.

When demand weakens during a downtrend, sellers often dictate the market’s direction.

This pattern has been clearly visible in the recent price action.

Other micro and macro factors affecting TRUMP meme coin

Bitcoin (BTC) has slipped slightly during the same period, adding to a risk-off environment for digital assets.

Although the wider market declined modestly, meme coins tend to respond more aggressively to shifts in sentiment.

Assets driven largely by hype and narrative often struggle when traders become more cautious.

The TRUMP token is particularly sensitive to sentiment because its appeal is closely tied to the public perception of Donald Trump.

As political narratives shift, investor enthusiasm for the coin can change just as quickly.

This connection between politics and price action has made the token one of the most sentiment-driven assets in the crypto space.

Recent developments suggest that the speculative energy surrounding the project is waning.

Without fresh catalysts or renewed social media hype, the token has struggled to attract new buyers.

That lack of momentum has left the coin vulnerable to extended corrections.

The sharp drop from its peak earlier in the year highlights how quickly meme-driven rallies can reverse.

What once looked like unstoppable momentum has turned into a steady downtrend.

For now, traders appear to be waiting for clearer signals before committing to new positions.

TRUMP price forecast

From a technical standpoint, the most important support level is near $2.80.

Holding above this level could allow the token to stabilise and enter a consolidation phase.

Such a period of sideways movement would indicate that selling pressure is beginning to slow.

However, a decisive break below $2.80 could open the door to another wave of losses, with the next key level traders should watch around $2.50.

A move toward that area would continue the current bearish trend.

On the upside, the first sign of strength would be a recovery back above the $3.00 mark.

Reclaiming that level could signal that the recent downtrend is losing momentum.

Until that happens, the overall market bias remains cautious.

Traders should also pay close attention to Bitcoin’s direction, which often sets the tone for the broader crypto market.

A stronger push from BTC could help restore confidence across altcoins and meme tokens.

If that occurs while the TRUMP meme coin holds key support levels, the chances of a recovery rally would improve.

However, for now, the market remains fragile, with sentiment still leaning bearish.

The post TRUMP meme coin retraces sharply as team moves 5 million tokens appeared first on CoinJournal.

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Why QCP Capital says BTC is a ‘stress barometer’

  • QCP sees Bitcoin as a ‘stress barometer’ amid macro, geopolitical risks.
  • BTC continues to eye $70,000 as support, with gains key to upside continuation.
  • Breakdown risks BTC retesting $63k lows, where prior dip-buying emerged.

Bitcoin (BTC) continues to show resilience near the critical $70,000 level after today’s US CPI data.

The bellwether digital asset had traded slightly off this mark earlier in the day.

According to analysts at Singapore-based trading firm QCP Capital, Bitcoin’s uptick from lows of $63,000 suggests stabilisation.

However, the continued fluctuation around the $70k mark signals that the market is yet to return to full risk-on sentiment.

QCP sees Bitcoin as a ‘stress barometer’ amid geopolitical risks

While bulls have been patient, the broader context of BTC’s next move combines factors around escalating Middle East risks and the US economic outlook.

QCP has highlighted this in its latest forecast for cryptocurrencies, noting that BTC acts as a “cleaner stress barometer” amid stagflationary pressures.

Bitcoin held relatively firm even as equities came under pressure amid escalating tensions in the Middle East, with the US-Israel conflict with Iran weighing on stocks and pushing Treasury yields higher.

The benchmark cryptocurrency also remained close to the $70,000 level as oil prices retreated after a sharp rally toward $120.

However, QCP Capital said the recent swings in crude oil have exposed fragile liquidity and positioning across macro markets, a dynamic that could keep digital assets on edge.

Derivatives markets reflect this cautious tone. Implied volatility has eased, but risk reversals remain negative, suggesting traders continue to favour short-dated downside protection rather than aggressive bullish positioning.

According to QCP, the current setup also underscores Bitcoin’s growing role as a “cleaner stress barometer” during periods of macro uncertainty.

Bitcoin’s outlook after the US CPI print

Data from the US Bureau of Labor Statistics released on March 11, 2026, showed consumer price inflation rose broadly in line with expectations.

The US Consumer Price Index (CPI) increased 0.3% on a seasonally adjusted monthly basis and 2.4% from a year earlier.

Core CPI, which excludes volatile food and energy prices, rose 0.2% for the month and 2.5% annually.

The figures were largely in line with consensus forecasts.

Bitcoin moved modestly higher following the release, climbing back above $70,000 to trade around $70,230 at the time of writing.

Meanwhile, US stock futures edged lower after the report as investors also reacted to news that Iran had attacked two ships in the Strait of Hormuz, adding to geopolitical uncertainty.

The February CPI reading reflects inflation conditions before the escalation of the Iran conflict and the recent surge in oil prices.

Analysts say upcoming macro data, next week’s Federal Open Market Committee (FOMC) meeting, and developments in the Middle East will remain key drivers of near-term market sentiment.

From a technical perspective, Bitcoin needs to reclaim the 200-week exponential moving average (EMA), which continues to act as a significant supply zone despite recent attempts to move above it.

Immediate resistance is seen in the $72,000–$75,000 range, while support is located around $63,000–$64,000.

The post Why QCP Capital says BTC is a ‘stress barometer’ appeared first on CoinJournal.

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Internet Computer token surges 12% to near $3: why did ICP price spike?

  • Internet Computer price jumped 12% to near $3 during Asian trading hours.
  • The ICP token hit the intraday highs amid news of listing support by Upbit.
  • If ICP breaks above $3, it could retest highs of $4.55.

The Internet Computer Protocol (ICP) token rose sharply early Wednesday, trading to $2.94 amid a two-fold spike in daily trading volume.

While the uptick comes amid a slight resurgence in broader cryptocurrency market volatility, what else might have catalysed ICP’s gains?

As of writing on March 11, 2026, the token’s price hovered around $2.76, and the key question is whether bulls can extend the upward move.

Why did the ICP price spike?

The gains for the Internet Computer token mirror those of the Artificial Superintelligence Alliance and Render tokens, both of which traded higher amid fresh AI sentiment.

Bitcoin’s tick up to near $71k also looks to have buoyed altcoins.

However, one specific reason the ICP price is up today could be news that Upbit, South Korea’s largest crypto exchange, will list ICP for spot trading.

The announcement on Mar 11 revealed pairs against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT).

As with other such listings, Upbit’s move could open ICP to millions of new users.

Notably, support on Upbit significantly enhances liquidity and trading volume for ICP, with the exchange boasting a dominant market share in one of the world’s most active crypto regions.

The Internet Computer Protocol aims to provide native cloud computing capabilities that could replace traditional cloud services and IT infrastructure, positioning ICP as a foundational blockchain for Web3 applications.

Analysts anticipate this listing will catalyze further adoption, particularly as South Korean retail investors flock to innovative layer-1 projects amid rising interest in AI and decentralized tech.

ICP price analysis

ICP’s climb to near $2.90 follows a period of consolidation that saw prices fluctuate between $2.30 and $2.60.

The sharp rise on Wednesday allowed buyers to breach the resistance, with data indicating bulls did it on elevated trading volumes. Could ICP prices go higher?

From a technical perspective, the daily chart paints a potential short-term bullish picture.

The daily RSI has gained but is still below the overbought territory, while the MACD is signalling upside momentum with an expanding histogram.

Bulls have also pushed above the 50-day moving average (currently at $2.60).

ICP Price Chart
ICP price chart by TradingView

If upside momentum holds, a breach and successful retest of $3.00 could pave the way for gains to the 200-day moving average at $3.73.

A key support-turned-resistance zone hovers around $4.55.

However, market sentiment remains cautious as the Fear & Greed Index metric lingers in the “fear” territory.

As such, the positive trajectory for ICP holders could yet flip negative.

If prices fall below $2.50, the immediate demand reload zones could be $2.35 and then $2.20.

The post Internet Computer token surges 12% to near $3: why did ICP price spike? appeared first on CoinJournal.

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XRP hits bottom as setup mirrors a move that preceded the 2017 rally

  • XRP may have completed a long correction and formed a market bottom.
  • Analysts say the current setup mirrors the pattern before the 2017 rally.
  • A Wave-5 breakout could drive XRP toward the $5.85 target.

XRP has spent the past several months moving through a slow and frustrating consolidation phase that many traders now believe may represent the final stage of its correction.

The digital asset is currently trading around $1.38 after a period of mixed performance that has seen short bursts of strength followed by pullbacks.

This kind of sideways movement often appears near the end of a market correction, which is why some analysts are beginning to argue that XRP may already be forming a long-term bottom.

The argument is based on a technical structure that looks strikingly similar to the pattern that developed before XRP’s historic rally in 2017.

Back then, the token spent months drifting through a quiet accumulation phase while the broader market paid little attention to it.

When the breakout finally arrived, the price accelerated rapidly and caught much of the market off guard.

Today, analysts believe the same type of structure may be forming once again.

Several technical charts show XRP completing a large corrective pattern that has been unfolding for months.

According to this view, the correction appears to have finished its final wave, which often marks the point where a new bullish cycle begins.

If the structure continues to play out as expected, XRP could now be entering the early stage of its next major upward move.

This possibility has renewed interest among traders who remember how quickly XRP moved once momentum returned during the previous cycle.

Analysts point to a potential Wave-5 breakout

Furthermore, a number of market analysts have turned to Elliott Wave theory to explain why they believe XRP may be close to a turning point.

Under this model, markets move through a series of impulsive waves followed by corrective phases that prepare the ground for the next advance.

Some analysts, like Dark Defender, believe XRP has just completed an extended corrective structure that lasted several months.

That correction appears to have formed an ABC pattern, which is often seen near the end of a downward phase.

With that structure now appearing complete, analysts say the market may be entering the final upward wave of the cycle.

This final stage is known as Wave 5 and is typically associated with strong bullish momentum.

One widely discussed projection places the next major price objective near $5.85 if the breakout develops as expected.

Reaching that level would represent a substantial recovery from current prices and would mark one of the strongest rallies XRP has seen in years.

However, analysts also emphasise that the move will likely unfold in stages rather than in a straight line.

Several resistance zones remain along the path, including levels near $1.88, $2.35, and just above the $3 mark.

Each of these areas could slow the advance as traders take profits and the market absorbs new buying pressure.

Still, clearing those barriers could open the door for a much larger move.

Long-term projections stretch far beyond the first targets

While the $5.85 level has attracted attention in the short term, some analysts believe XRP’s potential upside could extend much further.

A more aggressive interpretation of the current wave structure suggests the asset could eventually climb toward the $8 to $14 range during the next phase of the cycle.

In the most optimistic scenario, the final leg of the rally could even approach the $20 region if market conditions remain supportive.

These projections remain speculative, but they reflect growing confidence that the current structure may be setting up a larger trend reversal.

The post XRP hits bottom as setup mirrors a move that preceded the 2017 rally appeared first on CoinJournal.