Sportswear giant Nike is reportedly facing a lawsuit following the closure of its non-fungible token (NFT) business. Reuters reports that investors of Nike-themed NFTs and other crypto assets led by Australian resident Jagdeep Cheema filed a suit on Friday, claiming that they suffered significant losses as demand for their digital collectibles dropped following the announcement that RTFKT was winding down its operations. To date, the legal status of NFTs is not yet settled, and several lawsuits involve questions on whether or not these assets should be considered as securities. The suit also accuses Nike of orchestrating a “rug pull”, or the sudden abandonment of a project that leaves investors with worthless assets. Nike has not yet issued a statement regarding the lawsuit. Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that The Daily Hodl participates in affiliate marketing. Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3. Bitcoin • Ethereum • Trading • Altcoins • Futuremash • Financeflux • Blockchain • Regulators • Scams • HodlX • Press Releases
Chainalysis logo displayed on a phone screen and representation of cryptocurrencies are seen in this ... More illustration photo taken in Krakow, Poland on January 29, 2023. After a decade-plus evolution from niche experiment to multi-billion-dollar industry, crypto's early players are being forced to reckon with their past as they build toward their future. The cryptocurrency sector has traveled light years from its cypherpunk origins. Major players who once operated in regulatory gray areas are now implementing comprehensive compliance frameworks. Binance, after years of regulatory pushback, has established proper KYC teams and AML procedures. Tether, long criticized for transparency issues, is making serious noise about obtaining a full audit. Practices that worked when crypto was a small, experimental space simply don't scale to international businesses handling trillions in transactions. In this maturation process, companies like Chainalysis have carved out a profitable niche as the industry's compliance backbone. Positioning themselves as the bridge between crypto's inherent transparency and regulators' demands for accountability, these blockchain analytics firms have become essential to the ecosystem's legitimacy. Their mission statement emphasizes developing "clearer regulations, establishing standard audit practices, and implementing powerful compliance controls." Raw blockchain data provides the foundation, capturing every transaction on public ledgers. Chainalysis then applies proprietary analytics to identify relationships between entities, track activities across blockchains, and establish connections between cryptocurrency transactions and real-world identities. The company claims their blockchain intelligence allows organizations to "track illicit activity, manage risk exposure, and develop innovative market solutions with intelligent customer insights." Chainalysis positions this capability alongside traditional cybersecurity frameworks, mapping their services to stages of the "cyber kill chain" to help organizations disrupt attacks at various points. Their marketing materials emphasize human verification of data, noting that customers benefit from "rigorously verified data by human experts, ensuring unmatched reliability and credibility" in investigations. However, this reliability and credibility is precisely what critics question in legal challenges. "Chainalysis heavily promotes its reputation as a credible third-party investigation firm. She points out that this reputation has made Chainalysis the largest US Government contractor for blockchain surveillance software, with over $93.2 million in awarded funds. But in court cases from Bitcoin Fog to Tornado Cash, defense attorneys have begun challenging the scientific validity of these surveillance tools, questioning whether the black-box algorithms claiming to trace billions in crypto merit the same evidentiary weight as DNA or fingerprint analysis. According to bankruptcy court filings, Celsius debtors allege that "Chainalysis knowingly and willfully fueled one of the biggest cons in cryptocurrency history, deceiving customers, propping up a sham company, and accelerating Celsius's catastrophic collapse." The lawsuit centers around a December 2020 press release where Chainalysis and Celsius claimed completion of "an audit confirming $3,318,368,196.40 of assets by Chainalysis." This figure, according to court documents, included approximately $1.3 billion in CEL tokens—artificially inflating Celsius's assets under management through "highly inaccurate and misleading valuations." Following publication of the press release, Celsius's customer base reportedly exploded, with the price of CEL tokens skyrocketing from $2.21 in December 2020 to over $8 by June 2021. The scientific reliability of blockchain analytics has been contested in other high-profile cases. As reported in Fortune, in the criminal prosecution of Bitcoin Fog operator Roman Sterlingov, defense attorney Tor Ekeland painted Chainalysis software as a "black box," arguing the firm had financial interests in securing convictions that utilized their technology. The judge in that case ultimately allowed the Chainalysis evidence, ruling it sufficiently reliable based on government expert testimonies, a logic Fortune writer Leo Schwartz described as "circular." The scrutiny facing Chainalysis bears striking parallels to traditional financial auditors. When these errors merely result in compliance inconveniences, the stakes are manageable. But when they determine criminal prosecutions, the standards for accuracy must be significantly higher. Despite these challenges, the increased scrutiny ultimately signals cryptocurrency's evolution into a mature financial sector. True accountability requires testing assumptions, challenging authorities, and establishing reliable standards that balance innovation with responsibility. For Chainalysis and similar firms, this moment of reckoning may be uncomfortable but necessary. The heuristics and methodologies that proved adequate for crypto's early days must now demonstrate scientific rigor sufficient for courtrooms and criminal prosecutions. As cryptocurrency continues its journey from rebellious political movement to established financial infrastructure, these growing pains represent not a crisis but an inevitable passage into maturity.
But some remind us that not all paths can be copied, especially when the irrational comes into play. According to him, the success of XRP is not reproducible because it relies on dynamics that defy classical rational logic. The “XRP model” belongs to a specific universe, shaped by its history, supporters, and unique ecosystem. According to him, the recent success of XRP proves that narratives, vibes, and sentiments still weigh much more than fundamentals. In his X intervention, he emphasizes that XRP now surpasses Ethereum in Fully Diluted Valuation (FDV) despite the fact that “a corporation owns half of the supply“. A situation he describes as “maddening” for those who stubbornly analyze only through the prism of technical design or real revenues. In response to this argument, Jon Charbonneau, co-founder of the investment fund DBA, replies: Unique outliers do not mean that these rules apply to everyone Des valeurs aberrantes uniques ne signifient pas que ces règles s'appliquent à tout le monde. He compares this absurd logic to that of a CEO declaring: GameStop and AMC exploded without profits, so we don't need to make money either! According to an analysis published by All Things XRP, Ripple is heavily investing in pillars of the future: Far from the hype surrounding memecoins and other ephemeral projects, Ripple is patiently building a serious crypto infrastructure ready to attract banks, financial institutions, and Web3 players. Ripple wants to become the invisible engine behind real-time, regulated, and transparent global payments. This strategy reveals an ambition: to be the trusted gateway between traditional finance and blockchain. Ultimately, Ripple does not just ride the “vibes”: it builds a cathedral where others erect only mirages. The fate of Ethereum and XRP now seems to follow diverging trajectories. One clings to fundamentals, the other capitalizes on its unique positioning and institutional network. For every article you read, earn points and access exclusive rewards. Et le jour où les impacts se feront ressentir sur l'économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j'y étais pour quelque chose Receive the latest and best crypto news directly to your inbox in daily, weekly, or special format, to stay updated at your own pace Receive the latest and best crypto news directly to your inbox in daily, weekly, or special format, to stay updated at your own pace
From its record-breaking presale figures to its increasing global adoption rate and the simplified solution it offers, this PayFi presale sensation sure has a lot going for it. This article examines Remittix's presale success, the solution it offers and its promise for investors who act fast, according to expert analysis. From the start, Bitcoin and other altcoin projects have sought to fix real-world issues, including cross-border transfer bottlenecks. Yet, only a few have successfully offered solutions to these issues. One of the few successful ones is Remittix, a new fast-growing PayFi project aiming to lessen fees while enabling rapid transfers and seamless banking services. Its efforts also involve regions where accessibility to solution-based banking infrastructure is negligible or absent. Previously, cross-border payments involved service users in several communities around the world paying exorbitant fees to transfer money to relatives who live in other countries. Remittix's goal has attracted backing from those who witnessed the XRP takeover of international payment methods and growth in popularity. XRP showed off how crypto assets can replace existing and outdated payment procedures. Remittix advances this move by solving the technical complications that formerly stalled payment processes. With Remittix's growth in its ongoing mission, digital asset transfers across borders are set to become mainstream for users globally. Experts tip Remittix as the XRP rival and dark horse set to oust other PayFi projects. This reflects the project's commitment to economical and rapid international payment structures. Remittix focuses on resolving everyday users' problems, including long waiting times and pricey transfer fees. The PayFi service facilitates swift transfers, making it a favorite for its growing community. Experts point to crypto users' preference for tokens that serve a single, straightforward purpose. Remittix is primed to surpass XRP's achievements as it delivers outstanding payment possibilities. While it took years for even top projects like Bitcoin and ETH to achieve widespread adoption, recent projects like Remittix are attaining massive growth from their early stages. Analysts say this is thanks to how they tackle specific and integral issues. With Remittix's solution, $RTX has a solution-backed momentum to deliver sky-high gains and be the best crypto presale in 2025. Remittix is poised to take over the remittance market this year. Join the future of PayFi with Remittix by checking out their presale here: Please conduct your own research before taking any action based on the content. We are well into Q2 2025, and SOL price resurgence has taken center stage with…
World Liberty Financial (WLF), a decentralized finance (DeFi) platform backed by former U.S. President Donald Trump, announced in an official press release its partnership with Pakistan Crypto Council to drive blockchain innovation and stablecoin adoption across Pakistan. WLF representatives – Zachary Folkman, Zachary Witkoff (son of US Special Envoy Steve Witkoff) and Chase Herro – were given access to Pakistan's Prime Minister, Chief of Army Staff, and Deputy Prime Minister among other top-ranking officials during a high-level delegation visit. With this collaboration, Pakistan positions itself as a serious contender to lead the new wave of global financial technology. A Letter of Intent with the committed content was signed. With Pakistan's readiness to cooperate with foreign partners in this regard, it is abundantly clear that the country acknowledges the potential that blockchain brings in terms of transparency, efficiency and greater financial inclusion – an aspect that is vital in Pakistan, where traditional banking facilities are not accessible to a significant fraction of its population. More News: Big SEI Token Investment by Trump-Backed World Liberty Financial Pakistan's digital economy is an uncommon combination of potential and progress. Factors like rising mobile phone penetration, a vibrant freelance economy, and growing government support for blockchain initiatives create a fertile ground for rapid Web3 expansion. He added that the World Liberty Financial partnership will open a new era of investment, innovation, and global leadership in the blockchain economy. More News: World Liberty Financial of Trump to Introduce USD1 Stablecoin Backed by U.S. Treasuries Senior Management at World Liberty Financial was enthusiastic of the prospects Pakistan offers given its dynamism and talent. Exchanges including Binance and OKX have said Pakistan is one of their top 10 countries by crypto trading volume, despite regulatory ambiguity. The WLF-PCC Letter of Intent is not just symbolic;it heralds real-world projects that can revolutionize how millions of Pakistani citizens access the international financial infrastructure. More News: World Liberty Financial Invests $4M in AVAX and MNT Despite Portfolio Losses Liam focuses on decentralized finance (DeFi), with a strong background in financial markets and technology. He started as a crypto trader, gaining firsthand experience in navigating volatile markets. His articles demystify DeFi protocols and provide readers with actionable investment insights. Liam's clear explanations have made him a trusted voice in the community. The latest news, articles, and resources, sent to your inbox weekly. The latest news, articles, and resources, sent to your inbox weekly.
April has been a month of extreme volatility and tumultuous times for traders. From conflicting headlines about President Donald Trump's tariffs against other nations to total confusion about which assets to seek shelter in, it has been one for the record books. "Historically, cash (the US dollar), bonds (US Treasuries), the Swiss Franc, and gold have fulfilled that role [safe haven], with bitcoin edging in on some of that territory," said NYDIG Research in a note. NYDIG's data showed that while gold and Swiss Franc had been consistent safe-haven winners, since 'Liberation Day'—when President Trump announced sweeping tariff hikes on April 2, kicking off extreme volatility in the market—bitcoin has been added to the list. "Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is," NYDIG wrote. "Though the connection is still tentative, bitcoin appears to be fulfilling its original promise as a non-sovereign store of value, designed to thrive in times like these," NYDIG added. Read more: Gold and Bonds' Safe Haven Allure May be Fading With Bitcoin Emergence He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering.
The IMF's non-accumulation agreement may leave room for Bitcoin accumulation through non-governmental entities, industry watchers told Cointelegraph. The treasury of El Salvador acquired 7 Bitcoin (BTC) worth over $650,000 in the seven days leading up to April 27, blockchain data from El Salvador's Bitcoin Office shows. “In terms of El Salvador, let me say that I can confirm that they continue to comply with their commitment of non-accumulation of Bitcoin by the overall fiscal sector, which is the performance criteria that we have,” said Valdes during an April 26 press briefing. Related: Crypto sentiment recovers, but weekend liquidity risks remain “But on top of that, I think this is very important for the discussion in El Salvador,” he added. Related: Serbia's Prince Filip says Bitcoin is being stifled, expects huge rally The IMF's agreement may still enable room for purchases through non-governmental entities, according to Anndy Lian, author and intergovernmental blockchain adviser. “The IMF's ‘flexible interpretation' suggests purchases may involve non-public sector entities or reclassified assets, maintaining technical compliance,” Lian told Cointelegraph, adding: Lian added that El Salvador's strategy highlights the growing tension between financial innovation and traditional economic policies. “El Salvador's experience offers valuable lessons for nations exploring crypto adoption, emphasizing the need for robust regulatory frameworks and state capacity to navigate international financial pressures,” he added.
Cryptocurrency markets remain highly volatile, but Lightchain AI, an AI-powered crypto, is proving to be a resilient contender with strong growth potential. Its advanced AI-driven blockchain technology tackles major industry challenges such as scalability, security, and decentralization, setting it apart in an unpredictable market. While traditional cryptocurrencies face ongoing uncertainty, Lightchain AI stands out with an innovative approach that positions it for sustainable success. For those seeking a balanced mix of stability and growth, Lightchain AI offers an exciting investment opportunity amidst today's market turbulence. The cryptocurrency market in 2025 remains highly volatile, influenced by geopolitical tensions, regulatory shifts, and economic uncertainties. Investors are adopting various strategies to navigate this turbulence. Some are turning to automated trading platforms like Yieldfund, which utilize AI-driven strategies to manage both long and short positions, aiming for consistent returns even in fluctuating markets . Others are focusing on risk management techniques such as setting strict stop-loss orders and maintaining diversified portfolios to mitigate potential losses . Additionally, dollar-cost averaging (DCA) continues to be a favored approach, allowing investors to spread out their investments over time, reducing the impact of market volatility . As the market continues to evolve, staying informed and adaptable is crucial for investors aiming to weather the storm and capitalize on potential opportunities. Transaction fees are adjusted dynamically based on network activity and complexity, ensuring fair pricing and reducing congestion during periods of high demand. This adaptability enhances cost efficiency while keeping operations stable. Meanwhile, token burning gradually reduces the supply of tokens, creating a deflationary system that boosts scarcity and supports long-term value. For investors seeking a secure and forward-thinking opportunity, Lightchain AI stands out as a symbol of resilience and technological innovation. Right now, its presale offers an exciting chance to get in early on this cutting-edge project and support the creation of game-changing technology. The future of crypto is here—don't just watch it happen. Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments.
Nike is under fire after a group of investors filed a class action lawsuit, accusing the sportswear giant of causing massive financial losses by shutting down RTFKT, its Web3-focused subsidiary acquired in 2021. The investors claim Nike's actions led to a sharp collapse in the value of Nike-branded NFTs, wiping out millions in investments. According to court documents, Nike allegedly “rugpulled” the community by closing RTFKT and cutting off demand for the associated digital assets. The plaintiffs argue that Nike used its brand power and marketing expertise to promote what they describe as unregistered securities before suddenly abandoning the project. This NFT project made $168MNike bought itElon Musk and Kanye West wore their shoesNow the collection is goneAnd so are the foundersThe rise, fall, rug of RTFKT and Clone-X🧵(1/9) pic.twitter.com/aLnaz4kGAf Investors purchased the NFTs hoping they would increase in value, thanks to Nike's promotional efforts. However, once RTFKT was dissolved, these incentives vanished. Buyers who once anticipated exclusive rewards and profitable resales saw their investments lose value almost instantly. The complaint highlights that promises of completing quests, unlocking limited-edition products, and opportunities for secondary sales were key motivations for purchasing the NFTs. Adding to their argument, the plaintiffs insist that Nike NFTs qualify as securities under federal law. The plaintiffs seek a jury trial and damages exceeding $5 million for the alleged violations of consumer protection laws in New York, California, Florida, and Oregon. Meanwhile, this lawsuit comes as investor frustrations were further amplified on April 24 when technical issues prevented the Nike-linked NFT images from displaying. RTFKT's head of technology, Samuel Cardillo, explained that the outage resulted from a Cloudflare contract ending earlier than expected. Somehow this morning Cloudflare decided to move to the Free plan few days before the end of the contract which also triggered that bug in which Cloudflare refuses to stream images and videos,” Cardillo explained. While most images have since been restored, Cardillo is now moving RTFKT's NFT files to Arweave's decentralized storage platform using AR Drive. This step aims to protect NFT holders from similar outages in the future. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, personal finance education, top-rated podcasts, and non-profit The Motley Fool Foundation. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, personal finance education, top-rated podcasts, and non-profit The Motley Fool Foundation. You're reading a free article with opinions that may differ from The Motley Fool's Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. When a company or cryptocurrency seems like it's finally solving one of its long-standing challenges, it can be a good time to invest. A turnaround narrative can push prices higher for a long time, especially when it's backed by real changes that add value. On that note, there's some new evidence that Ethereum (ETH -0.18%) is getting closer to tackling one of its most notorious bugbears. The average on-chain action requiring spending gas incurred a fee of close to $0.01. Just a few days later, that had risen to about $0.26 on average. But, as well-informed investors already know, even those slightly higher gas prices are, for Ethereum, close to rock bottom. More importantly, they're the culmination of the chain's numerous attempts so far at scaling up its capacity and spinning off traffic to more efficient Layer-2 (L2) networks to offer faster transaction times and lower transaction costs for users. So, is the chain's biggest and most persistent drawback finally put to rest? Executing a token swap on Ethereum still costs an average of $0.69, with highs of $4.30 not uncommon, and transferring stablecoins often costs about $0.67. Furthermore, those actions take an average of 30 seconds to complete, which is quite slow. The larger issue is that this latest gas fee low isn't being driven by any new tech update that wasn't already in place months ago, when costs were a bit higher. On the same date three years ago, it also processed 1.1 million transactions. The network isn't nearly as congested because its capacity has been upgraded while traffic has remained more or less stable, so gas prices have declined. And that isn't a reason to be bullish. If anything, it's a reason to be bearish. The investment thesis for buying Ethereum is that its ecosystem of on-chain projects in decentralized finance (DeFi), non-fungible token (NFT) markets, artificial intelligence (AI), and decentralized physical infrastructure (DePIN) networks will attract capital to the chain and thereby boost the price of its native token, which is necessary for using all of the applications hosted there. The chain's stagnant transaction volume over time tells the opposite story: Ethereum is, on average, not seeing more adoption and usage. It's down about 38% during the past three years. There would be an easy case to make for buying the dip if there was a clear trend toward greater adoption, or clear dominance in an emerging growth segment like artificial intelligence infrastructure or agents. Meanwhile, rivals like Solana are giving Ethereum a run for its money in terms of capturing those segments, mainly because it's much cheaper and faster. It is not inherently a bad thing that Ethereum's gas prices have declined. But until that happens and remains consistent for at least a few months, investors should probably avoid buying Ethereum. It hasn't proven that its scaling problems are a thing of the past, and it hasn't proven to investors that real value is being generated on its chain to the point where it's worth buying and holding. Alex Carchidi has positions in Ethereum and Solana. Cost basis and return based on previous market day close. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.
A collective of upset NFT purchasers has brought a lawsuit against Nike after the company shut down its digital collectibles division, RTFKT. According to a report by Reuters, the lawsuit, filed Friday in Brooklyn, New York, alleges that the sportswear colossus's sudden shutdown erased hundreds of thousands of dollars' worth of digital asset value. Australia-based lead plaintiff Jagdeep Cheema leads the class of plaintiffs that is demanding at least $5 million in damages. According to court filings, Nike's December 2024 shutdown of RTFKT left investors with worthless digital tokens created and sold on both the Nike and RTFKT brands. The complaint states Nike breached consumer defense laws in a number of states, including New York, California, Florida, and Oregon. This poses a basic question that US regulators and courts are still grappling to answer: Are NFTs securities subject to regulatory scrutiny? Numerous NFTs ceased to show images properly, contributing to fears the assets would no longer be supported or held their worth. The group also alleged they would not have invested if they had known Nike could cancel the project so soon after its inception. After the December shutdown, numerous users complained of severe technical problems with their NFTs. Images of highly prized objects in the Clone X series went missing, being replaced with “holding page” messages from Cloudflare stating that the content was taken down. While some digital works have resurfaced online afterward, the incident raised legitimate doubts about the ultimate value of digital art attached to centralized services. RTFKT (pronounced “artifact”) was bought by Nike in December 2021 at the peak of NFT popularity. When digital collectibles became trendy, numerous firms jumped in without set regulations or oversight mechanisms. This suit identifies the danger that comes with large corporations testing and then abandoning nascent digital asset segments. For updates and exclusive offers enter your email. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.
Security experts note that proper digital asset management will become increasingly important as the lines between traditional and crypto finance continue to blur. What makes this initiative groundbreaking is the unprecedented collaboration with established private blockchain networks. Rather than building entirely new systems from scratch, central banks are leveraging modified versions of existing protocols that have proven their reliability and security at scale. The multi-CBDC platform implements an innovative interoperability protocol enabling secure cross-chain transactions between different central bank digital currencies. This represents a fundamental shift in how traditional financial institutions view blockchain technology, with potential ripple effects throughout global payment systems. Goldman Sachs, JPMorgan, and Bank of America have announced their participation in the pilot program, establishing dedicated digital asset divisions to facilitate future central bank digital currency (CBDC) transactions. This integration creates fascinating market dynamics, particularly regarding how private cryptocurrencies will position themselves in relation to Central Bank Digital Currencies (CBDCs). Market analysts suggest that these developments could legitimize blockchain technology more broadly while creating new competitive pressures for certain cryptocurrency segments, especially within the stablecoin market, where direct competition may emerge. The platform introduces a tiered privacy model that balances confidentiality with regulatory oversight—a significant technical achievement addressing one of the primary concerns about government-issued digital currencies. Substantial challenges remain around transaction throughput capacity, disaster recovery protocols, and security against quantum computing threats. Developers are working tirelessly to address these issues before full-scale implementation can be realized. This development creates both opportunities and challenges for the broader crypto ecosystem. While Bitcoin and Ethereum remain distinct from these centralized initiatives, central bank adoption could accelerate mainstream acceptance of cryptocurrencies generally. For those interested in understanding how to trade crypto in this evolving landscape, it is increasingly important to monitor central bank policies alongside traditional market indicators. We are using cookies to give you the best experience on our website. You can find out more about which cookies we are using or switch them off in settings. This website uses cookies so that we can provide you with the best user experience possible. If you disable this cookie, we will not be able to save your preferences.
Ethereum Price Struggles Under Major Resistance Levels Amid Bearish Pressure. Ethereum (ETH) is facing mounting selling pressure as technical indicators suggest continued weakness. Despite brief rebounds earlier this month, ETH remains stuck beneath critical moving averages, dashing hopes for a swift recovery. Without a major bullish catalyst, this technical imbalance creates downward momentum, making any sustained rally increasingly difficult. Unless Ethereum decisively breaks above these critical levels, its bullish momentum is likely to remain fragile. Teucrium CEO Says XRP Offers Highest Utility Among Cryptos Amid ETF Success Crypto Funds See Record $3.06B Weekly Inflow as Bitcoin Nears All-Time High Bitcoin Gains Corporate Attention Amid Decoupling Signs and ETF Surge Ethereum Faces Rejection at Key Resistance Despite Record Volume Surge Ripple's RLUSD Stablecoin Hits $76M on Aave Within Days as Market Cap Nears $300M
Popular in TechMore ≫ 1. Norms unveiled to fire up electronics parts manufacturing in India 2. What Elon Musk didn't budget for: Firing workers costs money, too 3. Why Bill Gates didn't fund his daughter's startup 4. Amazon launches 'Buy for Me' feature to help customers shop from other brands 5. SC to hear on April 28 plea to prohibit sexually explicit content on OTT, social media platforms 6. Ather Energy lists losses since inception, negative cash flows as key risks to IPO 7. Elon Musk pulls back from Trump's DOGE role to refocus on Tesla (Catch all the Budget 2024 News, Events and Latest News Updates on The Economic Times.) More Shein hikes US prices as much as 377% ahead of tariff increases Reliance Retail scaling up quick commerce, to set up dark stores to cover untapped pockets China's Huawei develops new AI Chip, seeking to match Nvidia: Report Checking without damaging: IIT-Madras works on advanced tech for disruptive material testing Tech industry tried reducing AI's pervasive bias; now Trump wants to end its 'woke AI' efforts India leading most cost-effective, successful space programme in world: PM Narendra Modi Cybersecurity firm Kaspersky bets big on India as key growth market Space programmes under his guidance brought global recognition to India's efforts: PM Modi on ex-ISRO chairman K Kasturirangan Why Bill Gates didn't fund his daughter's startup SC to hear on April 28 plea to prohibit sexually explicit content on OTT, social media platforms Prime Account Detected! It seems like you're already an ETPrime member with Login using your ET Prime credentials to enjoy all member benefits
Interestingly, Ethereum has held its ground firmly, supported by a clean uptrend that began after the sharp recovery from $1,550 that kicked off on Tuesday. As it stands, the Ethereum price is at an important technical phase after retesting the $1,799 resistance level and pulling back into its final intraday support zone. A fresh push above $1,800 could open the door to $1,840 and beyond, whereas deeper retracements would test three important zones. Ethereum's recent rally has seen it break past three notable resistance levels that have rejected its price action for most of April. Interestingly, these resistance levels are located at $1,590, $1,654, and $1,703, as indicated by a technical analysis of Ethereum's price action on the hourly candlestick timeframe chart on the TradingView platform. Following these breakouts, Ethereum continued to push upward with momentum until it encountered a tougher ceiling near the $1,800 mark. After briefly tapping into this zone, the price experienced a minor rejection, retracing back towards $1,730 before finding support and beginning another gradual climb. Nonetheless, even if Ethereum does not reach this level, a bullish sentiment will still be in place if it manages to hold above the broken resistances, which have now turned to support on the H1 timeframe. Ethereum Could Still Be Bullish Unless $1,654 Breaks The first zone, positioned at $1,703, represents a short-term hourly support level. This area may attract early entries, but it is high-risk and prone to breaking easily. It has the most favorable risk-to-reward ratio, where smart money traders are likely to accumulate. The bullish bias remains intact unless there's a confirmed break below $1,654. On the other hand, a successful close above $1,800 could cascade toward the next target around $1,840 or even higher. Top website in the world when it comes to all things investing. No other fintech apps are more loved. Custom scripts and ideas shared by our users.