Dogecoin (CRYPTO: DOGE) is up 6% on Friday, and technical indicators currently present a mix of signals, with several potential bullish breakout scenarios.
What Happened: In a Chart Action video podcast, a technical analyst identified a distinct falling channel pattern following Dogecoin’s breakout from a previous falling wedge.
Currently trading below the 0.185 Fibonacci retracement level, Dogecoin continues to form lower highs and lower lows.
The weekly 9-period moving average remains a critical marker.
“If we’re below that line, it’s a bad position; if we break above it, then …
Bitcoin (BTC) price has managed to stay above the $80,000 level as volatility wrecked US stock markets on April 3 and April 4. The failure of the bears to capitalize on the opportunity shows a lack of selling at lower levels.
While several market participants are concerned about the near-term impact of tariffs, BitMEX co-founder Arthur Hayes said he loves tariffs since he expects them to be positive for Bitcoin and gold in the medium term.
Capriole Investments founder Charles Edwards said in his analysis that Bitcoin would turn bullish on a break and close above $91,000. If that does not happen, he anticipates Bitcoin to fall to the $71,000 zone.
Could Bitcoin outperform by staying above $80,000? Will the altcoins crumble? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin rose above the resistance line on April 2, but the long wick on the candlestick shows solid selling at higher levels. The price turned down sharply and broke below the 20-day exponential moving average ($84,483).
The bears will have to sink the price below the $80,000 support to strengthen their position. If they do that, the BTC/USDT pair could retest the March 11 low of $76,606. Buyers are expected to defend this level with all their might because a break and close below $76,606 could sink the pair to $73,777 and eventually to $67,000.
The crucial resistance to watch out for on the upside is $88,500. A break and close above this level will signal that the corrective phase may be over. The pair could then start its journey toward $95,000.
Ether price analysis
Ether (ETH) has been trading between the $1,754 support and the 20-day EMA ($1,928) for the past few days.
That increases the likelihood of a break and close below $1,754. If sellers can pull it off, the ETH/USDT pair could start the next leg of the downtrend to $1,550.
A minor positive in favor of the bulls is that the relative strength index (RSI) has formed a positive divergence. That suggests the bearish momentum may be weakening. If the price rebounds off $1,754, the pair could face selling at the 20-day EMA. However, if buyers overcome the obstacle, the pair could rally to $2,111. A short-term trend reversal will be signaled on a close above $2,111.
XRP price analysis
XRP (XRP) bears successfully defended the 20-day EMA ($2.23) on April 2 and pulled the price to the critical support at $2.
The downsloping 20-day EMA and the RSI below 44 increase the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. The pair has support at $1.77, but if the level gets taken out, the decline could extend to $1.27.
Buyers have an uphill task ahead of them if they want to prevent the breakdown. They will have to swiftly push the price above the 50-day simple moving average ($2.37) to clear the path for a relief rally to the resistance line.
BNB price analysis
BNB (BNB) bulls failed to push the price back above the moving averages in the past few days, indicating selling at higher levels.
The moving averages have started to turn down, and the RSI is in the negative zone, signaling a minor advantage for the bears. There is support at the 50% Fibonacci retracement level of $575 and next at the 61.8% retracement level of $559.
On the upside, the bulls will have to push and maintain the price above the 50-day SMA ($614) to signal a comeback. The BNB/USDT pair may rise to $644, which is a critical overhead resistance to watch out for. If buyers overcome the barrier at $644, the pair may travel to $686.
Solana price analysis
Solana (SOL) rose above the 20-day EMA ($128) on April 2, but the bears sold at higher levels and pulled the price below the $120 support.
The downsloping moving averages and the RSI in the negative territory heighten the risk of a break below $110. If that happens, the selling could intensify, and the SOL/USDT pair may plummet to $100 and subsequently to $80.
The bulls are unlikely to give up easily and will try to keep the pair inside the $110 to $260 range. Buyers will have to push and maintain the price above $147 to suggest that the selling pressure is reducing. The pair may then ascend to $180.
Dogecoin price analysis
Dogecoin (DOGE) bears thwarted attempts by the bulls to push the price above the 20-day EMA ($0.17) on April 2.
A positive sign in favor of the bulls is that they have not allowed the price to slide below the $0.16 support. A break above the 20-day EMA could push the price to the 50-day SMA ($0.19). Buyers will have to overcome the 50-day SMA to start a rally to $0.24 and later to $0.29.
Alternatively, if the price turns down from the moving averages and breaks below $0.16, it will clear the path for a drop to $0.14. Buyers are expected to fiercely defend the $0.14 support because a break below it may sink the DOGE/USDT pair to $0.10.
Cardano price analysis
Cardano (ADA) turned down sharply from the 20-day EMA ($0.69) on April 2 and closed below the uptrend line.
The bulls are trying to push the price back above the uptrend line but are likely to face solid selling at the 20-day EMA. If the price turns down from the overhead resistance, the ADA/USDT pair could descend to $0.58 and then to $0.50.
This negative view will be invalidated in the near term if the price turns up sharply and breaks above the 50-day SMA ($0.74). That opens the doors for a rally to $0.84, which may attract sellers.
The TON/USDT pair broke below the 20-day EMA ($3.65) on April 3, indicating that the bullish momentum is weakening. There is support at $3.32, but if the level cracks, the pair may drop to $2.81.
Instead, if the price rebounds off $3.32, the pair could attempt to form a range in the near term. The pair could swing between $3.32 and $4.14 for some time. A break and close above $4.14 will signal that the downtrend may be over. The pair could then jump to $5.
UNUS SED LEO price analysis
UNUS SED LEO (LEO) bears pulled the price below the uptrend line on March 2 but could not sustain the lower levels. That suggests buying at lower levels.
The 20-day EMA ($9.57) is turning down gradually, and the RSI is in the negative zone, signaling a slight advantage to the bears. If the price turns down from the moving averages, the bears will make one more attempt to sink the LEO/USD pair below the $8.84 support. If they succeed, the pair may tumble to $8.
Contrarily, a break above the moving averages opens the doors for a rise to the overhead resistance of $9.90. If buyers pierce the $9.90 resistance, the pair will complete a bullish ascending triangle pattern. The pair may then climb toward the target objective of $12.04.
Chainlink price analysis
Chainlink (LINK) once again turned down from the 20-day EMA ($13.98) on March 2, indicating that the bears continue selling on rallies.
The LINK/USDT pair has strong support in the zone between $12 and the support line of the descending channel pattern. A rebound off the support zone will have to rise above the moving averages to signal a stronger recovery toward $17.50.
Sellers are likely to have other plans. They will attempt to pull the price below the support line. If they can pull it off, the pair could extend the downtrend toward the crucial support at $10 and, after that, to $8.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
President Donald Trump publicly urged the Federal Reserve to cut interest rates, but prediction market data shows that bettors remain skeptical the central bank will act in May.
What Happened: According to decentralized forecasting platform Polymarket, 72% of market participants believe the Federal Reserve will hold rates steady at its next meeting on May 7, with only 24% pricing in a 25 basis point cut, and a mere 2.7% expecting a deeper 50+ bps reduction.
In a post on Truth Social on Friday, the former president pressed Fed Chair Jerome Powell to act, writing, “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates… CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!” Trump cited lower inflation, falling energy prices, and stronger employment as justification for immediate easing.
Despite growing tariff-related uncertainty, there is a 70% probability cryptocurrency markets will find the local bottom in the next two months, which will serve as the supporting foundation for the next leg up in the 2025 cycle, according to Nansen analysts.
Savvy traders continue making generational wealth despite growing volatility and lack of risk appetite. One unidentified trader turned an initial $2,000 investment into over $43 million by trading the popular frog-themed memecoin, Pepe.
70% chance of crypto bottoming before June amid trade fears: Nansen
The cryptocurrency market may see a local bottom in the next two months amid global uncertainty over ongoing import tariff negotiations, which have been limiting investor sentiment in both traditional and digital markets.
US President Donald Trump on April 2 announced reciprocal import tariffs, measures aimed at reducing the country’s estimated trade deficit of $1.2 trillion in goods and boosting domestic manufacturing.
While global markets took a hit from the first tariff announcement, there is a 70% chance for cryptocurrency valuations to find their bottom by June, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.
The research analyst told Cointelegraph:
“Nansen data estimates a 70% probability that crypto prices will bottom between now and June, with BTC and ETH currently trading 15% and 22% below their year-to-date highs, respectively. Given this data, upcoming discussions will serve as crucial market indicators.”
She added: “Once the toughest part of the negotiation is behind us, we see a cleaner opportunity for crypto and risk assets to finally mark a bottom.”
Crypto trader turns $2,000 of PEPE into $43 million
A savvy cryptocurrency trader reportedly turned $2,000 into more than $43 million by investing in the memecoin Pepe at its peak valuation, despite the token’s extreme volatility and lack of underlying technical value.
The trader made an over 4,700-fold return on investment on the popular frog-themed Pepe (PEPE) cryptocurrency, according to blockchain intelligence platform Lookonchain.
“This OG spent only $2,184 to buy 1.5T $PEPE($43M at the peak) in the early stage. He sold 1.02T $PEPE for $6.66M, leaving 493B $PEPE($3.64M), with a total profit of $10.3M(4,718x), Lookonchain wrote in a March 29 X post.
The trader realized over $10 million in profit despite Pepe’s price falling over 74% from its all-time high of $0.00002825, reached on Dec. 9, 2024, Cointelegraph Markets Pro data shows.
PEPE/USD, all-time chart. Source: Cointelegraph Markets Pro
Memecoins are considered some of the most speculative and volatile digital assets, with price action driven largely by online enthusiasm and social sentiment rather than fundamental utility or innovation.
Still, they’ve proven capable of generating life-changing returns. In May 2024, another early Pepe investor turned $27 into $52 million — a 1.9 million-fold return — according to onchain data.
$1 trillion stablecoin supply could drive next crypto rally — CoinFund’s Pakman
The global stablecoin supply may surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to David Pakman, managing partner at crypto-native investment firm CoinFund.
“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.”
He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.
Pakman also suggested that the rise in capital flowing onchain, combined with growing interest in exchange-traded funds (ETFs), could further support decentralized finance (DeFi) activity:
“If we have a moment this year where ETFs are permitted to provide staking rewards or yield to holders, that unlocks really meaningful uplift in DeFi activity, broadly defined.”
Avalanche stablecoins up 70% to $2.5 billion; AVAX demand lacks DeFi deployment
Avalanche saw a significant surge in stablecoin supply over the past year, but the onchain deployment of this capital points to passive investor behavior, which may be limiting demand for the network’s utility token.
The stablecoin supply on the Avalanche network rose by over 70% over the past year, from $1.5 billion in March 2024 to over $2.5 billion as of March 31, 2025, according to Avalanche’s X post.
Market capitalization of stablecoins on Avalanche. Source: Avalanche
Stablecoins are the main bridge between the fiat and crypto world, and increasing stablecoin supply is often seen as a signal for incoming buying pressure and growing investor appetite.
However, Avalanche’s (AVAX) token has been in a downtrend, dropping nearly 60% over the past year to trade just above $19 despite the $1 billion increase in stablecoin supply, Cointelegraph Markets Pro data shows.
AVAX/USD,1-year chart. Source: Cointelegraph Markets Pro
“The apparent contradiction between surging stablecoin value on Avalanche and AVAX’s significant price decline likely stems from how that stablecoin liquidity is being held,” according to Juan Pellicer, senior research analyst at IntoTheBlock crypto intelligence platform.
DeFi TVL falls 27% while AI, social apps surge in Q1: DappRadar
Economic uncertainty and a major crypto exchange hack pushed down the total value locked in decentralized finance (DeFi) protocols to $156 billion in the first quarter of 2025, but AI and social apps gained ground with an increase in network users, according to a crypto analytics firm.
“Broader economic uncertainty and lingering aftershocks from the Bybit exploit” were the main contributing factors to the DeFi sector’s 27% quarter-on-quarter fall in TVL, according to an April 3 report from DappRadar, which noted that the price of Ether (ETH) fell 45% to $1,820 over the same period.
Change in DeFi total value locked between Jan. 2024 and March 2025. Source: DappRadar
The largest blockchain by TVL, Ethereum, fell 37% to $96 billion, while Sui was the hardest hit of the top 10 blockchains by TVL, falling 44% to $2 billion.
Meanwhile, blockchains that experienced a larger volume of DeFi withdrawals and had a smaller share of stablecoins locked in their protocols faced extra pressure on top of the falling token prices.
The newly launched Berachain was the only top-10 blockchain by TVL to rise, accumulating $5.17 billion between Feb. 6 and March 31, DappRadar noted.
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
The Pi Network (PI) token fell over 34%, logging the week’s biggest decline, followed by the Berachain (BERA) token, down nearly 30% on the weekly chart.
Total value locked in DeFi. Source: DefiLlama
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
A group of investors with cryptocurrency custody and trading firm Bakkt Holdings filed a class-action lawsuit alleging false or misleading statements and a failure to disclose certain information.
Lead plaintiff Guy Serge A. Franklin called for a jury trial as part of a complaint against Bakkt, senior adviser and former CEO Gavin Michael, CEO and president Andrew Main, and interim chief financial officer Karen Alexander, according to an April 2 filing in the US District Court for the Southern District of New York.
The group of investors allege damages as the result of violations of US securites laws and a lack of transparency surrounding its agreement with clients: Webull and Bank of America (BoA).
April 2 complaint against Bakkt and its executives. Source: PACER
The loss of Bank of America and Webull will result “in a 73% loss in top line revenue” due to the two firms making up a significant percentage of its services revenue, the investor group alleges in the lawsuit. The filing stated Webull made up 74% of Bakkt’s crypto services revenue through most of 2023 and 2024, and Bank of America made up 17% of its loyalty services revenue from January to September 2024.
Bakkt disclosed on March 17 that Bank of America and Webull did not intend to renew their agreements with the firm ending in 2025. The announcement likely contributed to the company’s share price falling more than 27% in the following 24 hours. The investors allege Bakkt “misrepresented the stability and/or diversity of its crypto services revenue” and failed to disclose that this revenue was “substantially dependent” on Webull’s contract.
“As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages,” said the suit.
Other law offices said they were investigating Bakkt for securities law violations, suggesting additional class-action lawsuits may be in the works. Cointelegraph contacted Bakkt for a comment on the lawsuit but did not receive a response at the time of publication.
Blockchain startup Codex has raised $15.8 million to build a layer-2 network specifically for stablecoins, signaling that more builders are rushing to capitalize on the growing industry and regulatory alignment around fiat-backed stable assets.
The seed round was led by Dragonfly Capital, with additional participation from Coinbase, Circle, Cumberland Labs, Wintermute Ventures and others, Codex told Fortune.
The funding will be used to help Codex build its stablecoin-only platform from the ground up, said co-founder and CEO Haonan Li.
Codex has disavowed “general-purpose blockchains” because of their inefficiencies in meeting real-world use cases, said Li. Instead, Codex is building a stablecoin-only chain on top of Optimism, an Ethereum layer-2 scaling solution that uses rollup technology to boost transaction speeds and lower costs.
Although details about the Codex chain were sparse, Li said the stablecoin solution aims to create a predictable fee structure that isn’t influenced by volatile blockchain activity.
Codex is also aiming to build stablecoin off-ramps with existing cryptocurrency exchanges and local brokers, which would allow users to cash out their onchain assets for fiat.
In 2023, Li had a “hunch” that stablecoins would be the next major blockchain growth story, which at the time “was a pretty contrarian view among these core crypto people,” he told Fortune.
Codex co-founder Victor Yaw said the stablecoin market has grown 60 times in the last six years, but still only accounts for less than 2% of offshore US dollar deposits.
“We haven’t even scratched the surface,” he said.
Stablecoin demand has shown signs of resilience, growing in the face of adverse crypto market conditions. Although crypto markets plunged in the first quarter, stablecoin supplies increased by $30 billion during that period, according to crypto intelligence firm IntoTheBlock.
The total stablecoin market capitalization now sits at nearly $230 billion. The vast majority of stable assets are backed by US dollars.
The stablecoin circulating supply has grown by nearly 3% over the past 30 days. Source: RWA.xyz
Codex isn’t the only stablecoin network to emerge from stealth this year. In January, a layer-1 network called 1Money raised $20 million to further develop its stablecoin payment platform.
Stablecoin firm Circle, the issuer of the USDC (USDC) dollar-pegged token, is reportedly mulling a delay of its initial public offering (IPO) plans amid the macroeconomic uncertainty created by the Trump administration’s trade policies.
According to The Wall Street Journal, “Circle had been nearing its next steps in going public, but is now watching anxiously before deciding what to do,” and joins a growing list of companies considering IPO delays, including fintech company Klarna and ticketing firm StubHub.
On April 1, Circle filed an S-1 registration form with the United States Securities and Exchange Commission (SEC) to take the company public in an IPO originally slated for April 2025.
The stablecoin firm is planning to sell shares of the company under the ticker symbol “CRCL,” but Circle’s prospectus materials have not yet outlined details of the number of shares offered or the initial stock price.
Circle delaying its IPO comes amid turmoil in the stock market as trillions in shareholder value dissipated following US President Donald Trump’s April 2 announcement of sweeping trade tariffs and investor fears that a protracted trade war could cause a global recession.
Bitcoin (BTC) sits in one of its least bullish phases since January 2023. According to Bitcoin’s “bull score index,” investor sentiment is showing its lowest reading in two years.
Bitcoin bull score index. Source: CryptoQuant
CryptoQuant’s “Crypto Weekly Report” newsletter explained that “bull score index” readings that sit below 40 for extended periods increase the likelihood of a bear market. The bull score remained above 40 throughout 2024, only dipping below this threshold in February 2025, as identified in the chart above.
However, over the past 24 hours, Bitcoin price has displayed resilience when compared against the massive losses seen in the US stock market. On April 3, Bitcoin closed the day with a green candle, while the S&P 500 was down 4.5%, a historic first.
The S&P 500 and Dow Jones extended their decline on April 4, dropping 3.87% and 3.44%, respectively, while Bitcoin held steady near the breakeven point.
Data from CryptoQuant indicates that Bitcoin’s Value Days Destroyed (VDD) metric currently sits around 0.72, suggesting that Bitcoin price is in a transitional phase. Since 2023, such periods have preceded either price consolidation or renewed accumulation before a bullish breakout.
Bitcoin value days destroyed. Source: CryptoQuant
The Bitcoin VDD metric tracks the movement of long-term held coins, and it has signaled a notable market trend since late 2024. The metric peaked at 2.27 on Dec. 12, signaling aggressive profit-taking and this dynamic matched the highs seen in 2021 and 2017. However, VDD dropped to 0.65 in April, reflecting a cooling-off period where profit-taking has subsided.
This opens the possibility of a “risk-on” market for Bitcoin. In financial terms, a “risk-on” scenario occurs when investors embrace higher-risk assets like cryptocurrencies, often driven by optimism and mean reversions in trends.
Amid ongoing market uncertainty that has been fueled by the US-led trade war, Bitcoin could unexpectedly gain from these tense conditions.
Speaking on Bitcoin and the crypto market’s potential as a hedge against traditional market volatility, crypto trader Jackis said,
“A reminder, this is not a crypto-driven drop but an overall risk-on, tariff, trade war-driven drop. While all of that is unfolding, it seems that crypto has likely undergone most of its downside already and has been lately absorbing all of the selling well.”
Similarly, the Crypto Fear & Greed Index also exhibited a “fear” category with a score of 28 on April 4. The index registered an “extreme fear” score of 25 on April 3, suggesting that the current price may present a compelling buying opportunity.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Global payments platform PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular tokens.
Support for LINK and SOL will be rolled out over the next few weeks and will also be extended to users of Venmo, a US mobile payment platform owned by PayPal, the company disclosed on April 4.
Roughly 83 million people used Venmo at least once in 2023, according to the latest available information from PayPal.
PayPal’s global reach extends to roughly 428 million accounts as of December, the majority of which are in the United States.
The company’s crypto services are available only to US residents.
PayPal is expanding its crypto offerings in response to growing consumer demand, according to May Zabaneh, an executive in PayPal’s crypto and blockchain division.
“Offering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies,” she said.
PayPal’s US crypto offerings now include seven digital assets in total, including its payment stablecoin PayPal USD (PYUSD).
The launch of PYUSD in 2023 solidified PayPal’s entry into the cryptocurrency market. Roughly one year after its launch, PYUSD surpassed $1 billion in total market capitalization for the first time.
Since then, PYUSD’s circulating supply has fallen to around $760 million, according to industry data.
PayPal’s US dollar-pegged stablecoin peaked at a market cap of more than $1 billion in August 2024. Source: DefiLlama
To demonstrate the utility of PYUSD, PayPal settled an invoice with global consulting firm Ernst & Young in October for an undisclosed amount.
At the time, PayPal’s senior vice president of blockchain, Jose Fernandez da Ponte, said “The enterprise environment is very well-suited” for stablecoin payments.
Despite PYUSD’s modest circulating supply compared to stablecoin leaders USDt (USDT) and USDC (USDC), the company’s involvement in the sector cannot be understated, according to Polygon Labs CEO Marc Boiron.
In an interview with Cointelegraph, Boiron credited companies like PayPal and Stripe for catalyzing stablecoin adoption at a time when regulators and enterprises were still uncertain about the technology.
