April 20, 2025 - SCOOPIST

Oversold Alert: Why Ethereum Could Be Rallying Soon

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Ethereum’s monthly Relative Strength Index(RSI) has dropped to its most oversold ever, and whales are accumulating the dip. So, are ETH bulls rallying soon?

Ethereum has seen its price drop significantly as of Q1 2025. Despite other altcoins rallying after the trade war freeze, the king of altcoins saw a price exhaustion in a recovery attempt. As of this writing, ETH is trading at $1583 per CoinMarketCap data.

Looking at Ethereum’s 8-hour chart, the coin has been consolidating inside a descending channel pattern in Q1, 2025.

With the price dropping to a 2-year low, ETH’s Relative Strength Index(RSI) has dropped to 40. This suggests that the coin is oversold, leaving the price in trenches. The bulls have stepped in as Ethereum’s momentum and MACD(12,26) flash “buy”.

According to CryptoGoos on X (formerly Twitter):

WHALES HAVE BOUGHT OVER 200,000 $ETH IN THE LAST 3 DAYS. THEY’RE BUYING THE DIP!

With potential whale accumulation in the dip, ETH can break above the $1650 key resistance zone on its descending channel pattern. A confirmed breakout could see ETH rallying to $2800 in the next few weeks.

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partyushgoyal

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Fear and Greed Index: Are Investors Trusting Crypto more than Stocks?

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Fear and greed index data reveal that investors are panicking more in the stock market than in crypto. Are investor perceptions of risk shifting?

Latest data by Alphractal has unveiled a surprising twist in the global assets market. A look into the fear and greed index in both the stock market and the crypto market suggests more anxiety in the stock market than in crypto.

While cryptocurrencies have always witnessed more volatility than stocks over the years, this data has raised eyebrows regarding market sentiment. Traditionally, Crypto is viewed as a riskier market in comparison to stocks. However, the crypto market has proved to be borderless and decentralized enough to survive diverse market storms.

Recent trade war, inflation, and geopolitical tensions have escalated volatility in the stock market, causing widespread fear and anxiety. The stock market index hit 20.94 (Extreme Fear) while the crypto market hit 32 (Fear) in market sentiment.

This new trend signals rising confidence in crypto market maturity and stabilization, considering its borderless nature. Increased credibility means more adoption and future growth for the market.

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partyushgoyal

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What is Web3 in Blockchain Technology?

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Web 3 promises a decentralized future and is set to grow steadily, hitting USD 6.06B by 2030.

Internet has been on a constant evolution since its birth in the mid-90s. Web 1 was a read-only internet version, where users could only consume information. Web 2, the current version, includes social networks and apps that allow users to read and interact with information.

However, big tech corporations tend to store user data and can use it without the user’s permission. Web 3, the next generation of the internet, lacks centralized databases. Users own their data and can operate with privacy backed by blockchain technology. According to Mordor Intelligence, Web3 is projected to grow from $1.04 billion over the next five 5 years to 6.06 billion by 2030.

Web3 utilizes blockchain technology in powering decentralized finance(DeFi) and ownership of digital assets such as NFTs. With notable players such as Chainlink, Polygon, and Amazon backing the growth of web3, the market has seen a 42.3% compound annual growth rate (CAGR). This is indicative of rising interest and web3 adoption.

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partyushgoyal

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Polkadot Flashes Breakout Signals-Is $4.8 the Next Target?

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Polkadot is testing a key resistance level on its falling wedge with high trading volume, suggesting a strong breakout.

Polkadot, the blockchain network that bridges other blockchain networks, has caught the market’s attention following a 57.5% surge in trading volume in the past 24 hours. Per CoinMarketCap, DOT was trading at $3.82, a 2.47% price increase, as of press time.

DOT’s price has been trading inside a falling wedge pattern formation for the past 4 months. Looking at the 12-hour chart, the price is consolidating and testing the $4.10 key resistance zone on its descending resistance trendline.

Technical analysis by WorldofCharts suggests that $4.8 could be Polkadot’s next target following a confirmed successful breakout above its falling wedge formation.

With the MACD level (12,26) and short-term moving averages flashing “buy”, DOT could be geared up for an uptrend rally soon. One should watch out for the coin’s buying pressure and open interest at this level while the market awaits a confirmed breakout.

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partyushgoyal

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Bitcoin Dominance Signals a Reversal- What’s next?

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Bitcoin dominance is on the verge of a breakdown on the charts. Could this spark the next altseason?

Bitcoin dominance chart has been useful in predicting the crypto market cycles. Looking at the current chart setup, Bitcoin’s market dominance is hitting a critical resistance, hinting at a potential reversal.

A decline in Bitcoin dominance means that liquidity has shifted its flow to altcoins, and BTC’s market share is shrinking. With the BTC dominance chart hitting a key resistance zone, does this mean the market could see altcoins boom soon?

According to renowned analyst CryptoGoos:

THE BITCOIN DOMINANCE IS ABOUT TO CRASH. BULLISH FOR ALTS!

BTC has seen its open interest decrease by 2.7% and price drop by 0.9%. The long-short ratio stands at 0.97, showing a slight selling pressure in the last 24 hours, as of press time. The market is closely watching BTC’s next moves at this point for further insights.

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partyushgoyal

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$10T Charles Schwab CEO Plans on Spot Bitcoin Trading

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Charles Schwab’s CEO, Rick Wurster, has revealed plans to offer spot Bitcoin trading by 2026 due to rising market interest in its crypto content.

Charles Schwab Corporation, the $10 trillion financial services giant providing banking, brokerage, and financial advisory is about to dive into the crypto world. With approximately $10 trillion of client assets under management, its entry into the crypto market signals substantial liquidity inflow.

According to its CEO, Rick Wurster, the company has seen a 400% increase in visits to its crypto content, hinting at growing crypto interest amongst clients. Despite offering some crypto-related products, the Company is eyeing spot Bitcoin trading, aiming to blend traditional finance with digital assets.

Rick Wurster at CNBC Exclusive Live Interview. Source: CNBC

As many traditional corporations consider Bitcoin as a new and unique asset class, the entry of this financial giant suggests a growing trust in digital assets. Additionally, this could mean a more stable crypto market with less volatility in the future.

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partyushgoyal

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