crypto
Expert Analysis Highlights 4 Strong Bullish Indicators
As the new week begins, Ethereum (ETH)—the second-largest cryptocurrency by market capitalization—has seen a significant decline, dropping nearly 10% below the critical support level of $2,500.
However, amidst this downturn, prominent crypto analyst Doctor Profit has identified four compelling bullish indicators that suggest Ethereum may be poised for a resurgence, potentially inching closer to its all-time high and even surpassing it.
Key Indicators Signal A Bullish Turn
In a recent post on X (formerly Twitter), Doctor Profit shared insights from a detailed long-term analysis of Ethereum. He emphasizes that this evaluation is not about short-term hype or quick profits but focuses on the upcoming months.
“Right now, ETH is the best opportunity in the market,” he stated, highlighting key indicators—technical, psychological, and on-chain—that support his bullish stance.
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Doctor Profit’s analysis is grounded in extensive price action data, with a focus on high-timeframe signals that typically indicate significant market moves. Here are the four major indicators he outlined:
The 200-week Exponential Moving Average (EMA) has historically served as a critical support level for Ethereum. During past market downturns, such as the COVID crash in 2020 and the bear market in 2022, the price has quickly rebounded after dipping below this key threshold.
Given that a few weeks ago, the price was merely 4% from this support, the risk-reward ratio for potential investment is compelling. Doctor Profit estimates a possible move toward the $8,000 to $10,000 range, representing an approximate 200% upside, while the worst-case scenario offers a mere 20% downside.
Doctor Profit Sees Potential For Major Ethereum Price Surge
The analyst further highlighted that ETH’s price has been trending within a long-term ascending channel, currently approaching its lower boundary—a historically favorable entry point for investors.
Doctor Profit anticipates a breakout from this channel in the coming months, targeting the $4,000 mark, a level that has faced multiple rejections.
However, the analyst assures that each failed attempt brings the Ethereum price closer to a definitive breakout, with potential targets reaching as high as $8,000 to $10,000.
One of the most significant patterns currently forming is the weekly ascending triangle. This pattern has been consolidating since 2020, indicating a robust bullish setup.
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Doctor Profit notes that moves stemming from such patterns often lead to substantial price expansions, similar to recent trends observed in XRP. The implications of this formation suggest that Ethereum may be on the brink of a powerful upward movement.
A substantial liquidity zone exists around the $4,000 region, aligning perfectly with both the anticipated breakout from the ascending channel and the ascending triangle.
This concentration of liquidity could facilitate a strong market response, according to the analyst, propelling Ethereum through this critical threshold and triggering a significant upward movement.
Despite the current bearish sentiment surrounding Ethereum, characterized by retail disinterest and high fear, Doctor Profit emphasizes that institutional accumulation is on the rise.
Record inflows into Ethereum exchange-traded funds (ETFs) and significant on-chain withdrawals further indicate that larger investors are positioning themselves for future gains.
ETH is currently trading at $2,420, down as much as 10% over the past 24 hours and over the past week.
Featured image from DALL-E, chart from TradingView.com
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According to a recent CryptoQuant Quicktake post, while Bitcoin (BTC) has seen a steady rise in price from November 2024 to February 2025, sentiment in the cryptocurrency’s futures market has not shown a corresponding uptick.
Bitcoin Futures Sentiment Index Signals Caution
Bitcoin’s price surged from approximately $74,000 in November 2024 to a peak of $101,000 by early February 2025. However, following US President Donald Trump’s tariff announcements, risk-on assets – including BTC -have experienced a significant pullback.
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After hitting a potential local bottom of $74,508 earlier this month on April 6, the apex cryptocurrency has recovered some of its recent losses. The top digital asset is trading in the mid $80,000 range at the time of writing.
Despite this recovery, BTC’s futures sentiment has continued to decline since February. Even as the price holds near local highs, sentiment in the futures market has notably cooled.
CryptoQuant contributor abramchart highlighted this divergence, noting that it could indicate increasing caution or profit-taking behavior despite the ongoing bullish trend. The analyst commented:
This indicates a cooling interest or increased fear in the futures market, possibly due to macroeconomic uncertainty, regulatory concerns, or expected corrections.
A look at the BTC futures sentiment index shows a resistance zone around 0.8 and a support level near 0.2. The index is currently hovering around 0.4, pointing to a predominantly bearish sentiment across futures markets.
Similarly, Bitcoin’s average price has steadily declined from its early 2025 highs. It is now ranging between $70,000 and $80,000, signalling possible market indecision amid heightened tariff tensions.
According to abramchart, if futures sentiment remains low, BTC could face extended price consolidation or even downward pressure in the near term. However, any emerging bullish catalyst could quickly shift the sentiment and renew upward momentum.
Is BTC Close To A Momentum Shift?
Some analysts believe Bitcoin may be nearing a breakout. After consolidating in the mid-$80,000s for several weeks, on-chain metrics suggest BTC may be undervalued at current levels. Indicators such as BTC exchange reserves and the Stablecoin Supply Ratio support this view.
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In addition, momentum indicators like Bitcoin’s weekly Relative Strength Index have begun to break out of a long-standing downward trendline – raising hopes for a potential bullish rally back toward $100,000.
However, several risks still remain. The recent appearance of a ‘death cross’ on BTC’s price chart – combined with persistent macroeconomic concerns related to trade tariffs – could still weigh heavily on market sentiment. At press time, BTC trades at $83,917, down 1.8% over the past 24 hours.
Featured image from Unsplash, Charts from CryptoQuant and TradingView.com
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In yet another milestone for Bitcoin adoption in Latin America, the Panama City Council has voted to approve the acceptance of Bitcoin and other digital currencies for municipal services, making it the first public institution in the country to do so.
The news was announced by Panama City Mayor Mayer Mizrachi on X (formerly Twitter), who stated:
“Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT.”
This decision sets Panama City on a more progressive path, enabling residents to interact with their local government using Bitcoin for everyday transactions. Mizrachi also explained how this was achieved without the need for new legislation, a hurdle that had stalled previous efforts.
“Prior administrations tried to push a bill in the senate to make this possible, but we found a simple way to do it without new legislation. Legally, public institutions must receive funds in $, so we partner with a bank who will take care of the transaction—receiving in crypto and convert on spot to $. This allows for the free flow of crypto in the entire economy and entire government.”
The Panama City Mayor’s Office further confirmed the news on its official social media channels, saying:
“We will soon become the first public institution in the country to allow payment for municipal services in cryptocurrency, through an authorized bank that will be responsible for converting the proceeds into dollars for the Mayor’s Office.”
Muy pronto nos convertiremos en la primera institución pública del país en permitir el pago de servicios municipales en criptomonedas, a través de un banco autorizado que se encargará de transformar los ingresos en dólares para la Alcaldía.✨ pic.twitter.com/wccxO1agfR
— Alcaldía de Panamá (@Panamaalcaldia) April 15, 2025
Mayor Mizrachi also revealed that the agreement with the banking partner will be finalized next week: “Deal’s being signed next week at the Blockchain conf in Panama. Look out for signing of the deal next week.” Cardano (ADA) has shown major structural developments as it re-enters a multi-year trading range. The recent price action suggests acceptance back within this long-term structure, with indicators pointing toward a potential move to the lower support region. Cardano (ADA) has re-entered a significant trading range that has contained its price action for over three years. After a breakout in late 2024 that lacked volume strength, the asset has failed to sustain its highs and is now showing signs of weakness. For traders, this shift back into the range carries major implications for ADA’s medium- to long-term price trajectory. After more than 912 days of trading within a well-defined range since 2022, ADA finally broke out in December 2024, setting a new high. However, this breakout lacked the critical component of follow-through volume. A sharp drop in volume immediately after the breakout signaled weakening momentum, suggesting a climactic top rather than a sustainable bullish trend. Price action has since fallen back below the range high and closed multiple candles beneath it, a clear sign of acceptance back within the range. This is significant from a structural standpoint. Rather than consolidating above and building new support, ADA is now signaling a potential return to its value zone, likely toward the lower bound of the long-term range. The volume profile reinforces this theory. The expansion to the December highs was not matched by sustained buyer interest. Instead, volume sharply tapered off, indicating that the breakout may have been speculative and not backed by conviction. In such cases, price often returns to equilibrium levels to reassess fair market value. With ADA now firmly back inside the long-term range, a slow grind toward the lower support region is increasingly probable. Traders should exercise patience, avoiding premature entries until there is either a confirmed trend reversal or a test of the lower boundary. The real opportunity may lie in ADA’s eventual consolidation and structure near the bottom of this historical range. Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025 Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist Aptos Leverages Chainlink To Enhance Scalability and Data Access Bitcoin Could Rally to $80,000 on the Eve of US Elections Crypto’s Big Trump Gamble Is Risky Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje 3 Voting Polls Show Why Ripple’s XRP Price Could Hit $10 Soon
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Key points covered
What to expect in the coming price action
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