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Ethereum price at crossroads, tests key support at $3,800 as analysts point at possible rebound

  • Ethereum ETF inflows show smart money buying despite short-term weakness.
  • Whales are reducing holdings while mid-sized sharks drive accumulation.
  • Heavy ETH liquidations are fueling bearish sentiment.

Ethereum (ETH) finds itself at a critical juncture as price tests support near $3,800 after a sharp pullback from recent highs.

Analysts are now weighing the technical damage against on-chain signals that point in different directions.

Ethereum price under bear pressure

Recently, the price of ETH slipped below $4,000 and is now trading around the mid-$3,800s.

The 24-hour range shows intraday swings between $3,833.75 and $4,051.26, while analysts single out the $3,800–$3,850 band as the immediate line of defence and $3,500–$3,400 as deeper liquidity zones if sellers push further.

Notably, the Ethereum price has fallen beneath the clustered 20, 50 and 100-EMAs, which currently sit roughly between $4,083 and $4,238 and now act as resistance.

Momentum indicators have also weakened, with the four‑hour RSI sitting near 29, indicating oversold conditions that often precede short relief rallies.

Whales offload as sharks accumulate

On-chain flow metrics show notable exchange inflows, with a recent spike of about $66.7 million moved onto spot venues.

That movement coincided with ETH dropping below $4,000, and it signals that some holders are routing coins to exchanges to sell.

Large wallets holding more than 100,000 ETH have trimmed positions sharply, a development many analysts interpret as increased selling by the largest holders.

At the same time, mid‑sized entities — addresses holding between 10,000 and 100,000 ETH — are accumulating and taking a more prominent role in on‑chain ownership dynamics as highlighted by Joao Wedson.

This transfer of supply from the very largest wallets toward a concentrated set of mid‑sized “sharks” has nudged the Gini coefficient higher after months of decline, underscoring renewed ownership concentration among wealthier addresses.

While these movements are seen as dynamic by some, it is also viewed as a double‑edged sword by others since it reduces one class of outsized selling but increase concentration risk.

Liquidations spoil the party as ETFs see hyped inflows

The Ethereum price correction has triggered heavy market liquidations, with roughly $409 million in Ethereum long positions liquidated.

Funding rates on ETH futures have also flashed negative recently, according to Coinglass data, adding to the momentum behind short‑term selling.

Institutional flows, especially on the Ethereum ETFs front, also paint a mixed picture, with some funds recording large inflows while others see significant outflows.

Notably, over the recent week, more than $560 million reportedly moved into ETH‑linked funds, with BlackRock‑led products among the largest recipients, even as REX‑Osprey launched the first US staking Ether ETF.

Ethereum price forecast

Views among market commentators diverge sharply, and long‑term bulls like Ted Pillows argue that ETH could ultimately trend well above $10,000 this cycle, though he anticipates a short‑term revisit to the $3,600–$3,800 area.

Most importantly, reclaiming the $4,083–$4,330 zone would ease bearish pressure and could open a path back to $5,000.

Conversely, a failure to hold critical supports would expose lower bands at $3,162 and $2,874, while the 200‑day EMA sits as a structural defence near $3,350.

The post Ethereum price at crossroads, tests key support at $3,800 as analysts point at possible rebound appeared first on CoinJournal.

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Dogecoin price prediction: DOGE bulls hold the $0.2 support level

Key takeaways

  • DOGE is one of the worst performers in the top 10 this week, down 17% in the last seven days.
  • The bulls are defending the $0.20 psychological level amid a strong bearish price action.

DOGE down 17% this week

The cryptocurrency market has been extremely bearish this week, with Bitcoin dropping below the $110k mark on Thursday. Ether is also trading below $4k, while XRP is holding the $2.7 support level.

However, memecoins usually take the biggest hit. DOGE, the leading memecoin by market cap, is down 17% since the start of the week, making it the second-worst performer in the top 10, only behind Solana.

The bearish performance has seen DOGE’s price slip to the $0.225 level. If the bearish trend continues, DOGE risks dropping below the $0.20 level for the first time since August 6th.

$0.20 in focus as bearish sentiment grows stronger

The DOGE/USD 4-hour chart is bearish and inefficient as Dogecoin has lost 17% of its value since the start of the week. The coin could undergo further correction as Bitcoin and other major coins are in the red.

The RSI of 34 is below the neutral 50, indicating that DOGE is currently under heavy selling pressure. The MACD lines also flipped into the negative zone over the weekend, suggesting a strong bearish bias.

DOGE/USD 4H Chart

If the sell-off continues, DOGE could drop below the $0.20 support level for the first time this month. An extended bearish run would bring the Daily Inducement Liquidity (ILQ) at $0.189 into focus. 

However, if the bulls regain control of the market, DOGE could rally towards the first resistance level at $0.25. Surpassing the 4H ILQ at $0.25 would allow DOGE to surge towards the TLQ and major resistance level at $0.288. 

The market sentiment is currently bearish. The PCE data to be published later today could give traders an indication of the Fed’s move in its next policy meeting.

The post Dogecoin price prediction: DOGE bulls hold the $0.2 support level appeared first on CoinJournal.

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Chainlink price forecast: analysts hint at a possible breakout

  • Chainlink (LINK) hovers near $22 with $21.30–$21.40 as key support.
  • Analysts see $26 short-term and $31 long-term if resistance breaks.
  • Strong $839M trading volume shows steady market participation.

Chainlink (LINK), currently trading around $21.77, has faced notable resistance near $22, prompting technical analysts to assess whether LINK can regain upward momentum and challenge higher price levels.

Notably, despite recent declines, market participation remains robust, underscoring the resilience of the cryptocurrency amid broader market volatility.

Chainlink (LINK) price testing key levels

In the short term, Chainlink (LINK) has been hovering between $21.30 and $21.40, forming an important support zone that traders are watching closely.

A rejection at the $22 pivot could push the price down toward the $20 support area, which remains a critical demand level.

Analysts note that sustaining strength above this range is essential for bulls seeking to regain momentum.

The asset briefly spiked above $21.80 in recent sessions but was met with selling pressure that pushed it back below the key resistance, reflecting the cautious sentiment of traders.

The trading volume has remained strong at approximately $839 million, suggesting that market interest is still active and not limited to thin liquidity.

This level of activity indicates that participants are ready to act on significant moves, which could set the stage for a decisive breakout if buying pressure increases.

Triangle pattern sparks optimism

Analyst Ali Martinez has highlighted a triangle pattern on Chainlink’s weekly chart, which lies between a symmetrical and ascending formation.

The pattern shows converging trendlines, with the upper boundary acting as resistance and the lower trendline offering support.

Martinez suggests that a dip to $16 would create a favourable buying opportunity, pointing to this level as the 0.5 Fibonacci retracement mark.

Should the asset rebound from this support, a breakout from the triangle could push Chainlink toward a target of nearly $100, according to the 1.272 Fibonacci extension.

While the triangle pattern does not fit neatly into classic technical categories, it represents a period of consolidation that could precede a significant price movement.

Another analyst, Crypto Monkey, emphasised that a confirmed breakout above the $22 resistance level may open the path toward $26, while a failure to hold support could lead to a pullback.

These observations highlight the importance of short-term price action in shaping the asset’s trajectory.

Long-term resistance and potential

Beyond immediate trading levels, Chainlink faces a long-term red diagonal resistance that has blocked multiple upward attempts since the 2021 peak.

Analyst MarketMaestro noted that overcoming this barrier is critical for sustaining a bullish trajectory, with $31 remaining the next major long-term target.

Holding above intermediate supports such as $17, $21, and $25 is essential to prevent deeper retracements and to maintain the conditions necessary for another rally.

Despite these technical challenges, LINK’s fundamentals remain strong, supported by growing enterprise partnerships and increasing adoption across blockchain applications.

The combination of solid market interest, strategic technical levels, and a potential breakout pattern makes Chainlink (LINK) a focal point for both conservative investors seeking stability and technical traders looking for high-probability setups.

The post Chainlink price forecast: analysts hint at a possible breakout appeared first on CoinJournal.

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Bitwise seeks SEC approval for first-ever Hyperliquid (HYPE) ETF

  • Bitwise has submitted S1 for an ETF tracking HYPE.
  • It would be the first ETF tied to a perp DEX token.
  • Approval could see Hyperliquid exploding to new highs.

$15B asset manager Bitwise seems prepared for the next chapter of digital finance.

The company has filed with the US Securities & Exchange Commission for an exchange-traded fund (ETF) tracking Hyperliquid’s native coin, HYPE.

The S-1 application gained traction as a HYPE ETF would be the first of its kind, offering market players regulated access to a perpetual decentralized exchange token.

That signals the growing influence of DeFi and increasing pressure on Wall Street to expand cryptocurrency offerings beyond the top Bitcoin and Ethereum.

Understanding Hyperliquid

Hyperliquid is a decentralized platform designed specifically for DeFi undertakings.

While traditional blockchains often incorporate multiple use cases, Hyperliquid zeroes in on perpetual futures (perps) trading – a derivatives product that’s gaining remarkable attention in the cryptocurrency markets.

Notably, perps allow traders to speculate on future prices of assets without expiry dates.

That has made them attractive to institutions and experienced traders seeking heightened liquidity and flexibility.

Most importantly, Hyperliquid boasts a high-frequency infrastructure that handles the market with speed and efficiency.

This has seen the DEX create a sought-after niche in the blockchain industry.

Bitwise’s HYPE ETF application reflects confidence in the broader cryptography technology and Hyperliquid’s role in the future of decentralized finance (DeFi).

A exchange-traded fund approval would be a game-changer for US investors and the DEX.

Hyperliquid might boom to levels that the BitMEX co-founder predicted as institutional players join.

Pension funds, retail broker accounts, and hedge funds will have a regulated exposure to HYPE via a familiar product: the ETF.

Americans will gain frictionless access to a high-frequency decentralized asset, something that has been somewhat intimidating for non-crypto-native investors.

Everyday investors can use brokerage apps to buy into the altcoin’s exposure without the hurdles of creating wallets and exploring DEXs.

Challenges ahead

While the application stirred optimism, approval remains far from guaranteed.

The US SEC has taken a cautious approach to cryptocurrency ETFs, often citing concerns like investor protection, liquidity, and market manipulation.

Furthermore, Bitwise’s filing comes as the regulator delays its decision on multiple altcoin exchange-traded funds, including Pengu, Avalanche, and Sei.

Moreover, questions linger whether the SEC can endorse an ETF of an asset with a primary utility linked to high-risk perpetual trading.

The regulator will likely prioritize balancing investor safety and innovation when reviewing the application.

HYPE price action

The alt lost 0.2% in the past day to hover at $42.43.

HYPE has declined from its mid-September all-time highs of $58.

Meanwhile, its current outlook mirrors ongoing broader market declines.

Cryptocurrencies extended their downside yesterday after the US revised GDP data.

Bitcoin trades below $110,000 as cryptocurrencies follow September’s history of bearish performance.

The post Bitwise seeks SEC approval for first-ever Hyperliquid (HYPE) ETF appeared first on CoinJournal.