The Crypto Basic

#XRP has printed a bearish candlestick pattern on the weekly time frame, which has historically preceded significant price corrections.
Notably, prominent market analyst Ali Martinez drew the crypto community’s attention to this development in a January 10 tweet. At the time, XRP was close to forming a gravestone doji on the weekly chart following a strong price rejection.
Importantly, this bearish pattern has fully formed following a close at $2.072 last week. The timeframe of occurrence and the technical indication this candlestick suggests have sparked concern among XRP holders.
Gravestone Doji Puts XRP at Risk of Further Decline
XRP started last week on a bullish note, building on its 12% growth two weeks ago. The XRPL native token rallied nearly 13% in two days to a high of $2.41 on January 6 before the momentum faded.
Consequently, the asset has retraced 14% over five days, relinquishing all its earlier gains, and closed last week with a slight 0.88% decline. With this downtrend, XRP formed a deadly candlestick pattern, known as the gravestone doji.
For the uninitiated, the gravestone doji is a candlestick that has an inverse “T” shape. Typically, it has a long wick, showing severe price rejection. Additionally, its opening, closing, and low price are closely clustered after a swing high, indicating that bears stepped in during the uptrend and quickly pushed the coin below its opening price.
Last week, XRP did exactly this, dropping from its $2.41 high to its opening price of $2.09, then closing at $2.073. According to Martinez, this does not look good for XRP, suggesting it might fall much further.

Remarkably, this aligns with several other analyses, including one from CRYPTO CAPTAIN. He noted that XRP could drop to $1.8 after failing to hold the support around $2.10 and $2.05.
A Credible Bearish Signal?
Notably, the gravestone doji typically signals a price ceiling and the start of a larger bearish trend. Its occurrence on the higher time frame also adds to the strength, and XRP seems to be following that trend already, with today’s 1.20% correction to $2.043.
However, some analysts argue that candlesticks and trendlines are not credible indicators of a price trend in isolation. Their reliability increases when used with other technical indicators, such as MACD and RSI.
Moreover, analyst BigBlueNation views the XRP retracement differently. In response to Martinez, he noted that the downtrend was merely a retest before a broader bullish development.

His chart shows that XRP broke out of a descending channel last week, and the ongoing retracement was just to shake off weak hands and retest the structure before the next impulsive move.
#CryptoNewsFlash

#Dogecoin shows resilience but must close above key resistance to confirm a bullish reversal.
Dogecoin has shown resilience, holding steady above $0.138 despite the latest negative movement. The recent price chart reveals a notable downtrend, with Dogecoin struggling at the middle end of its 24-hour trading range between $0.136 and $0.142.
The consistent trading volume of $1.11 billion, up 119% in the past 24 hours, further underscores increased activity in the Dogecoin market. As the broader crypto market faces uncertainties, Dogecoin could see bullish days ahead only if the price manages to hold above the $0.136 resistance level. Will it reverse its momentum, or is a correction on the horizon?
Where’s Dogecoin Headed?
The Dogecoin 1-day chart shows an important turning point with the price surpassing the 0.382 Fibonacci resistance at $0.14101 today but quickly reversing. This Fibonacci level is crucial because it has acted as a significant overhead resistance in recent price action. 

While Dogecoin’s ability to break above this level initially signals potential bullish momentum, the reversal suggests a lack of sustained buying pressure. To reverse the current momentum and confirm a shift toward higher prices, Dogecoin needs to close above this resistance with strong momentum, ideally backed by a positive reading from the Awesome Oscillator (AO).
Notably, the Awesome Oscillator is currently showing a slightly negative stance with some bearish momentum as indicated by the red bars. If the price fails to close above the $0.14101 resistance, Dogecoin may face a pullback, with the next key support levels at the 0.5 and 0.618 Fibonacci levels, around $0.13625 and $0.13148, respectively. 
Should the support levels hold, Dogecoin might bounce back. However, if the AO flips into more negative territory, that will signal a shift toward bearish momentum, increasing the likelihood of a deeper correction towards the 0.786 Fibonacci support at $0.1247. 
Dogecoin Poised for Breakout?
Meanwhile, Jonathan Carter, an analyst on X, suggests that Dogecoin is poised for a breakout from its current descending channel formation on the daily chart. He highlights that price action above the MA 50 moving average signals a potential reversal from its extended downtrend, suggesting a bullish shift for the meme coin.

Carter lists several upside targets for Dogecoin, including $0.153, $0.182, $0.206, $0.240, and ultimately $0.280, indicating that Dogecoin is ready for a significant move upward.
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#shiba⚡ Inu tests the weekly Bollinger Band resistance, with positive short-term momentum, but faces key resistance ahead.
The Shiba Inu (SHIB) price chart for January 9 shows a modest 0.4% increase in the last 24 hours, with the price fluctuating between $0.000008509 and $0.000008827. Over the past week, SHIB has experienced a more notable 17.2% increase, signaling a short-term rebound and positive momentum.
In contrast, its performance over the last 14 days shows an even stronger 22.0% rise, reflecting an optimistic shift in the market sentiment towards Shiba Inu. This recent performance suggests that the token is recovering from its prolonged downtrend, although it still faces resistance at key levels.
The current price action, with a slight upward movement in the short term, signals that the token might be preparing to break further resistance. Can SHIB test further resistance?
Where’s Shiba Inu Headed?
The latest weekly Shiba Inu price chart shows that the crypto is currently testing the middle Bollinger Band, which is a key support level. The middle band acts as the 20-period simple moving average, and its positioning around $0.00001006 has become a significant focal point for traders.

If the price manages to push above this level, it suggests potential continuation within the existing range. However, if the price closes below the middle band, it could indicate that SHIB will move towards the lower Bollinger Band, which serves as a strong support zone near $0.000006194.
In terms of resistance, the upper Bollinger Band at $0.00001392 represents the current resistance level. This area has held up in the past, capping the price during bullish moves.
Additionally, the MACD indicator shows a slight bearish divergence, as the signal line remains above the MACD line, suggesting potential downward pressure if the price fails to break above the immediate resistance level.
With the price testing the middle band, traders will closely monitor for a break above the middle or a bounce off this level to confirm whether SHIB will continue upwards. The MACD line must also cross above the signal line for a bullish confirmation.
Shiba Inu Futures Flow
Meanwhile, the SHIB futures flow data provides insight into the recent market behavior and investor sentiment. Within the 30-minute timeframe, the inflow turned negative, resulting in a $ 22.92K outflow, which represents a 134.80% decrease.

On a larger scale, the 1-hour, 4-hour, and 8-hour periods show consistent positive inflows, particularly the 8-hour timeframe, which recorded $453.84K in net inflows (+450.48%). This indicates growing interest in SHIB futures, suggesting confidence in the token’s price action over the medium term.
Despite this, the 24-hour period saw negative net inflows, with the $226.85K outflow indicating a possible cooling off. However, this period showed a modest +91.72% change in net inflow.
#Crypto

Amid the ongoing recovery effort from #XRP , a prominent market analyst and Elliott Wave specialist has revealed why he believes a rally to $20 remains possible.
For context, XRP opened 2026 with an impressive comeback, having surged 22.59% during the first seven days of the year. This comes after the downtrend in Q4 2025 resulted in a 35% collapse, pushing XRP below the pivotal $2 level. The latest bullish flip, which recovered the $2 mark, has revived discussions about how high XRP could climb in this cycle. Amid the discussions, XForceGlobal, a South Korean Elliott Wave specialist, recently shared his opinion. 
XRP Has Held Near ATHs for First Time in History
He asked investors not to dismiss the idea of $5 or even $20 during this cycle. The market analyst said his outlook comes from studying price movement daily and linking each move to the larger Elliott Wave map. According to him, the broader picture shows that XRP now trades in an unusually tight range that goes against what traders have seen throughout its price history. 
He explained that this range helped the market set a new price floor that currently holds firm. Specifically, this floor rests around the $2 level. XForceGlobal believes this floor is now undergoing a test phase that should either confirm or reject it. 
He then mentioned earlier cycle peaks in 2018 and 2022, where XRP rallied and then quickly lost ground. According to him, the token did not repeat this pattern after its late-2024 surge. Notably, XRP held strong levels after the November 2024 run for a full year and did so fairly close to previous all-time highs. XForceGlobal believes this is a sign of strength in the market.
What Corrective Structure is XRP Currently Witnessing?
Speaking further, the analyst then highlighted the main corrective structures in Elliott Wave theory. Notably, he said markets usually move through zigzags, flats, or triangles when they pause before the next trend.

For context, zigzags slope against momentum, triangles compress inside narrowing levels, and flats hold inside a steady zone. Considering this, XForceGlobal ruled out the possibility that XRP’s current corrective structure is a triangle, suggesting that it instead resembles a flat pattern.
According to him, flat structures themselves come in different forms. The standard version looks straightforward, but expanded and running flats create fake swings that trick traders. 
He said XRP already pushed above a previous high, which leaves two choices: expanded flat or running flat. To him, the more likely option is the running flat, which keeps the previous low intact without breaking support. He called this trend a fake-out inside another fake-out that usually ends with a strong breakout in the direction of the main trend.

Possible Targets as XRP Nearly Done with Current Correction
The analyst explained that the flat pattern includes three moves down, three moves up, and a final five-wave leg. He believes XRP already completed that five-wave decline during the 35% collapse in Q4 2025, which would mean the correction ended. 
However, XForceGlobal admitted that one last dip could still happen, and a drop to the $1.30 to $1.50 area remains on the table. Despite this, evidence seems to suggest the correction may have run its course. He said the market’s latest leg higher looks like an impulsive move, not a corrective bounce, which usually marks the start of a new upward trend.

With that context, he believes XRP already sits inside the opening stages of a fresh five-wave push to the upside. He expects more nested impulse moves to build on top of each other and send prices higher as buyers take control. 
Considering this, XForceGlobal set $5 as a reasonable low-end target for the cycle. He also said XRP could reach $10, $20, and possibly even push toward $30 if momentum accelerates during the peak of the cycle.
#CryptoNewsFlash

#Dogecoin faces resistance at important levels, with an analyst noting that bullish momentum is building up.
The Dogecoin (DOGE) price chart shows a noticeable decline over the past 24 hours, with consistent troughs in its price action throughout the day. The price initially ranged between $0.1425 and $0.1491, but after reaching the upper range, it sharply declined to a new low near $0.141. This drop represents a 4% decrease in price within a single day, suggesting that Dogecoin is facing significant selling pressure.
The ongoing dip in price suggests that the current bullish momentum has fizzled out, and the market is experiencing a short-term correction. Traders will need to closely watch for any potential support around the $0.140 mark, which could serve as a key level to determine whether Dogecoin can reverse the current downtrend or if further declines are likely. What’s next for DOGE?
DOGE Faces Resistance at $0.168
Looking at the charts, Dogecoin faces immediate resistance near the $0.168 mark, aligning with the 0.786 Fibonacci retracement level. This area has proven difficult for the bulls to surpass in recent weeks, with multiple failed attempts to break above it.

However, if Dogecoin can break through this key resistance, it would likely pave the way for higher price targets, with the next resistance zone between $0.198 and $0.218. A sustained move above this resistance zone could signal a strong bullish shift, possibly testing the next resistance around $0.24.
On the downside, the price is approaching key support near $0.13, as indicated by the 1 Fibonacci level. If Dogecoin fails to maintain support at this level, the price could head lower towards the $0.10 mark. 
The Standard Deviation indicator at 0.04681 shows calm but slightly increasing volatility. A breakout above $0.168 combined with increasing volatility could lead to larger price swings, potentially driving Dogecoin towards higher resistance levels. 
Bullish Momentum Building?
Elsewhere, on X, analyst Trader Tardigrade points out that Dogecoin is showing a pair of Tweezer candlesticks on the monthly chart, signaling a potential bullish reversal. The candles represent the price between $0.117 and $0.156. 

This candlestick pattern often occurs during reversal, indicating that Dogecoin has almost completely recovered the losses from the previous month in just eight days, reflecting strong buying pressure. Ultimately, this suggests that bullish momentum is building up for Dogecoin, potentially setting the stage for upward movement. 
#CryptoNewsCommunity

#Ethereum is facing key resistance, with strong bullish momentum, while liquidation data highlights ongoing market volatility.
The first week of 2026 has seen Ethereum (ETH) trading at $3,253.44, down a modest 1.2% in the last 24 hours. With a market cap steady at $392.7 billion and a robust 24-hour volume of $28.85 billion, ETH holds its no. 2 rank firmly.
Ethereum has gained 9.5% over the past 7 days and 11% in the last 14 days, reflecting strong positive momentum.
A CoinGecko chart shows a positive momentum, particularly from January 6, with a sharp price increase before stabilizing above $3,240. Given the bullish trend, Ethereum’s price could continue to rise, particularly if it breaks the immediate resistance levels above $3,300.
Ethereum Price Analysis
Ethereum is currently testing key Fibonacci retracement levels as it approaches potential resistance at $3,303, which aligns with the 0.786 Fibonacci level. The recent price action shows a strong rally, but ETH is facing a challenge at this level, which could act as an overhead resistance.

The next significant resistance level is the $3,447 area, marking the top of the current range. If Ethereum can close above $3,303, it may confirm a breakout and could target higher levels, potentially pushing toward the $3,400–$3,600 zone.
On the downside, ETH has established $3,190 as potential support, marked by the 0.618 Fibonacci retracement level. If Ethereum experiences a pullback, this area will likely act as a critical floor, providing buying support. A drop below this level would open the door for further declines towards $3,100 or $2,980, the next key Fibonacci levels.
The Awesome Oscillator also supports this, with green bars indicating bullish momentum as long as the market remains above these support zones.
Ethereum Liquidation Data
Ethereum’s futures market, albeit punishing the bulls, continues to show strong volatility and potential for price swings. Over the past 24 hours, $101.83 million in total liquidations occurred, with $56.65 million coming from long positions and $45.18 million from short positions.

In shorter time frames, long positions consistently lead the liquidations, such as in the 4-hour and 1-hour windows, where $7.60 million and $7.21 million worth of long positions were liquidated, respectively. The significant pressure on long positions suggests a bullish bias in Ethereum’s price action, but the high liquidation figures are a sign of caution.
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An analysis has highlighted two major reasons why Cardano is poised to target higher prices from the current market level.
Cardano has rallied over 23% YTD, spurred by a broader market resurgence. Despite this, a January 6 TradingView analysis from a pseudonymous market commentator suggests the coin could see higher prices.
Cardano Holds Channel Support
Notably, one of the reasons for this bias is ADA’s firm grip of a channel support on the daily chart. The analysis highlighted that the cryptocurrency has formed a base at a multi-month demand zone around $0.35.
Cardano visited this area in December, but buying pressure from the region cushioned weak price action. Consequently, it bounced from this region to a high of $0.43 this week before a slight correction.
In a broader context, an accompanying chart shows that ADA broke below an ascending channel in November 2025, as the market turned bearish from August 2025 onward. While the asset broke below the lower support trendline, the multi-month support just below the zone has held, with multiple bullish reversal signals pointing to a bounce to much higher prices.

ADA to Grab the Liquidity Above the Current Price
Furthermore, the analyst identified a liquidity cluster above the current market price. Usually, these clusters are price magnets, and whales push an asset to grab them before subsequent moves.
The analyst expects nothing different from Cardano, predicting that it will rally further to claim these visible liquidity pockets ahead. Interestingly, he identified these areas in his analysis and highlighted what would invalidate a possible uptrend to attain them.
Cardano Take-Profit Areas
First, he placed his entry between $0.34 and $0.37. At the time of writing, ADA has moved past these areas, changing hands at $0.41.
His first take-profit target is $0.44, which he identified as the first supply zone. His second and third TP areas are $0.50 to $0.55 and $0.60 to $0.65. He called the former a liquidity shelf and the latter the “small sell order” region.
Finally, he highlighted the $0.73-$0.78 range as the maximum target. The supply zone, identified as the golden Fibonacci level, represents a 78% and 90% increase from the current market price.
However, the market analyst emphasized that a drop to $0.245 invalidates this move. The stop loss aligns with a break below the channel’s structural lows.
Bitcoin and Ethereum Must Stay Stable
Notably, the analyst also hinged this rally on the stability of Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. A sharp downtrend in these assets could undermine the potential bullishness in ADA.
Cardano would also benefit from the liquidity rotation to layer 1 tokens. Notably, most altcoins have outperformed BTC recently, and the market commentator suggests investors would switch towards large-cap coins for better gains rather than hold BTC.
#CryptoNewss

#Cardano founder Charles Hoskinson has shared his thoughts on where the next catalyst for the growth of the ADA ecosystem would come from.
Notably, the crypto industry leader highlighted this in a recent interview with the Altcoin Daily co-owner Aaron Arnold. He pegged the next wave of Cardano adoption on the expansion of its decentralized finance (DeFi) ecosystem.
More Bullish on Cardano or Midnight?
Arnold asked Hoskinson if he is more bullish on Cardano or its sidechain, Midnight. In response, he reiterated his commitment to both projects but highlighted that a closer collaboration between them would spur widespread adoption for the entire ADA ecosystem.
He further noted that Cardano has peaked as a layer 1 network. Hence, the founder claimed that for Cardano to get to the next level, it needs to embrace the DeFi ecosystem.
“We’ve got to start putting up the numbers,” Hoskinson noted, emphasizing the need to grow in key DeFi metrics.
Hoskinson stressed that the Cardano ecosystem’s monthly active users (MAU), total value locked (TVL), and stablecoin issuance must increase by 10 to 100 times from their current levels. According to him, this is necessary to unlock the next wave of growth for Cardano.
Meanwhile, the network has made several efforts to boost its DeFi ecosystem, which currently lags behind other major chains like Ethereum and Solana. Recently, the Cardano Foundation committed eight-figure ADA to enhance stablecoin DeFi liquidity. Hoskinson also revealed that the ecosystem is working to bring USDC and USDT to Cardano this year, aiming to improve user traction.
Midnight to Enhance Cardano Adoption
Further, Hoskinson called Midnight the first of the fourth generation of cryptocurrencies, stating that it brings something different to the entire digital asset industry. He noted that if Midnight moves faster in its emerging privacy niche, it could capture a large share of the crypto market.
Again, he stressed that if decentralized applications (DApps) on Cardano work closely with Midnight by upgrading to a hybrid platform and adding privacy to their systems, they could gain the next million users. He highlighted that this would happen as they would gain a large number of users from Bitcoin, XRP, and other chains. Consequently, this would affect Cardano’s DeFi metrics and trigger the next bull season for the network.
Notably, Hoskinson had previously highlighted the role Midnight would play in boosting Cardano DeFi, citing its multi-chain compatibility and privacy advantages. In the interview, he added that Midnight would attract even the legacy financial system, seeking RWA tokenization and global remittance.
Ultimately, the aim of the close collaboration between Cardano and Midnight is to create a new experience for retail and institutional users better than those seen in Ethereum and Solana. Hoskinson stated that it would be a “bull year” for Cardano if this happens.
#CryptoNewss

James Wynn, a prominent legendary crypto trader, believes leading meme coin #PEPE has the potential to hit a $69 billion market cap.
Notably, the global crypto market has remained under pressure for the past three months, losing $870 billion since October 2025. Despite short-lived rebounds across some assets, the total market cap now stands at $2.98 trillion. During this period, meme coins have suffered some of the biggest losses as investors avoid speculative trading.
In early October, the meme coin market held a combined value of $76.25 billion. Today, the figure has dropped to $39.63 billion, resulting in a $36.62 billion loss in three months. 
Expectedly, PEPE accounts for a notable portion of that decline. The token’s market cap fell from $4.12 billion in early October to $2.13 billion at press time, wiping out about $2 billion.
James Wynn Expects PEPE to Hit $69B Market Cap
Despite this decline, veteran trader James Wynn believes PEPE could launch a comeback if the broader bull market continues. Wynn shared this sentiment on X, stating that he does not believe the bull cycle has ended. Based on this belief, he expects money to flow back into leading meme coins and solid altcoins, with PEPE possibly benefiting.
Wynn compared PEPE’s current position to Shiba Inu’s performance during the last bull market. He noted that SHIB reached a $41 billion market cap in the previous cycle and argued that PEPE could move beyond that level. 
Wynn also highlighted how quickly SHIB climbed, rising from a $3.5 billion valuation to $41 billion in less than one month. This represented a gain of 11.7x. The legendary trader sees this historical move as evidence that PEPE could achieve a much higher valuation.
According to Wynn, social engagement also gives PEPE an advantage. Notably, he stressed that social activity plays an important role in meme coin performance and pointed out that several exchanges use PEPE in their branding and promotional posts to boost engagement and attract users. 
Wynn also referenced Dogecoin’s previous peak market cap of $88 billion to support his prediction. Considering these factors, he set a $69 billion market cap target for PEPE.
At its current valuation of $2.13 billion, PEPE would need to add $66.87 billion in market value to reach that target. That move would represent a 3,139% increase. 

PEPE Price at $69B Market Cap
Reaching a $69 billion market cap would place PEPE as the eighth-largest crypto by market value, allowing it to surpass top-10 assets such as Dogecoin, Cardano, and Tron if their valuations stay the same. At present, PEPE ranks 38th among the largest crypto assets.
With a circulating supply of 420.68 trillion tokens, PEPE’s $2.13 billion market cap places its price at $0.00000506 per token. If the market cap climbs to $69 billion with the same supply, PEPE’s price would rise to about $0.0001640 per token. 
To put things into perspective, a $10,000 investment at today’s price would grow to roughly $3.24 million. However, Wynn’s prediction remains highly speculative, and investors should not regard it as investment advice.
#Crypto

A market expert has endorsed a forecast highlighted by prominent exchange Uphold, indicating that #XRP could reach $1,000 by 2030.
The “XRP to $1,000” prediction dominated community discussions this year amid XRP’s impressive start to the year and its massive push to the $3.66 peak in July 2025. Notably, this bullish performance, especially after the discouraging downtrend in 2024, renewed bullish sentiments, leading to ambitious targets like $1,000.
Uphold Spotlights XRP to $1,000 Prediction
Interestingly, leading American exchange Uphold, which has maintained a pro-XRP stance for years, also propagated these audacious forecasts, although the platform chose not to make any predictions of its own. The exchange merely spotlighted projections from other sources and sought community opinions. 
Pharaoh, an XRP community commentator, endorsed one of these predictions, which Uphold called attention to a few months back. Specifically, the exchange mentioned in July that an existing hot prediction circulating within the XRP community at the time was the suggestion that XRP could soar to $1,000 by 2030.
At the time of this commentary, XRP changed hands at $3.1 amid a drop from the $3.66 peak weeks prior. Uphold asked the XRP community if they found this prediction bullish for the crypto asset or not, further questioning if community figures actually agreed with the suggestion.
In response, Pharaoh endorsed the forecast. “I agree,” he said, insisting that the XRP to $100 prediction would likely not play out in 2025 or even 2026. Pharaoh held this sentiment despite the overwhelming bullish conditions that had engulfed the XRP market at the time. The market pundit asked investors to think long-term, silence the noise, and stay patient.

DAG CEO is More Bullish
Interestingly, Jake Claver, CEO of Digital Ascension Group, seemed to disagree with this idea. Claver expects the target to play out much earlier than 2030. Notably, the community expert also predicted in July that he sees XRP climbing to as high as $2,000 by Jan. 1, 2026. With XRP still trading under $2 today, this forecast will likely not materialize by Jan. 1, 2026.
Meanwhile, analysts from prediction platform Changelly do not even expect XRP to claim the $1,000 mark in 2030. Specifically, Changelly analysts believe XRP’s maximum price for December 2030 could sit at $16.65, representing a 795% increase from the current price of $1.86 within five years.
This increase would represent a CAGR of 55.3% per year, which, despite its positive direction, would be underwhelming for some investors. Changelly predicts that XRP could only reach the $1,000 area in October 2040, essentially 15 years from now.
#CryptoNewsCommunity

The #Ethereum price aims to avoid a pullback by holding crucial support levels and breaking resistance.
Notably, as the new year begins, Ethereum (ETH) starts the year with a 0.0% change over the last 24 hours, trading at $2,974. The price has remained confined within the range of $2,959 to $3,012, signaling some consolidation as Ethereum struggles to break through resistance near $3,000.
In the broader context, Ethereum has posted a 1.0% increase over the past 7 days and a more encouraging 4.8% gain in the last 14 days. However, the 1-day performance shows a flat trend, reflecting a lack of strong momentum in the short term. 
While Ethereum’s price has seen positive movement in the past week, it still faces challenges to break out of its recent price range. As the market begins the new year, Ethereum’s ability to overcome key resistance and build on its recent gains will be critical. Will ETH make a strong start to 2026, or will it continue to struggle within its current range?
Can Ethereum Make a Strong Start?
Looking at the technical charts, Ethereum’s price is moving within a narrow range between the lower and upper Bollinger Bands, sitting at $2,963 and $2,990, respectively.
The price action suggests that #ETH is consolidating near the middle of this range, indicating indecision in the market. The immediate resistance is at the upper Bollinger Band around $2,990, which could cap any potential upside in the short term. 

On the downside, key support sits at the lower Bollinger Band near $2,963. If Ethereum fails to hold above this level, further downside pressure could bring the price towards $2,940 or even lower.
The RSI is currently hovering around 49.83, indicating neutral market sentiment albeit with more positive momentum. However, for a bullish breakout, ETH needs to sustain a move above $2,990, while holding the support at $2,963 is crucial to avoid a deeper pullback.
Ethereum Achieves Record Contract Deployment
Elsewhere, amid Ethereum’s recent performance, analyst Joseph Young highlights a significant milestone for the network. He stated in an X post that Ethereum has just reached an all-time high of 8.7 million contracts deployed in a single quarter. 

This sustained multi-quarter growth in contract deployment signals organic expansion. Key factors driving this include the growth of roll-ups and Layer 2 solutions (L2), the issuance of real-world assets (RWA), increased use of stablecoins, and the expansion of wallets and intents. 
#Crypto