According to Mike Novogratz, the founder and CEO of Galaxy Digital, Bitcoin‘s price will likely remain in the range of $55,000 to $75,000 in the coming month.  Novogratz believes that the cryptocurrency market is currently in a consolidation phase and predicts that prices will rebound towards the end of the second quarter.  Despite a decrease in inflows for Spot Bitcoin exchange-traded funds (ETFs) and a recent decline in Bitcoin’s price, Novogratz remains optimistic about the broader adoption of cryptocurrencies by traditional financial institutions.  He also suggests that several factors, such as the U.S. Federal Reserve cutting rates or a favorable outcome from the upcoming U.S. presidential election, could potentially drive price action in the crypto market.  Galaxy Digital reported strong financial results for the first quarter, with record revenue from mining operations and management fees contributing to a net income of $421.7 million. Source: COINTELEGRAPH

The Ethereum price in the market is attempting to recover from the $2,865 support level. If it manages to clear the $2,960 resistance zone, it could start a fresh surge. Currently, Ethereum (one of the top 10 altcoins) is trading below $2,950 and the 100-hourly Simple Moving Average. However, there was a break above a major bearish trend line with resistance at $2,930.  To initiate a major increase, Ethereum needs to close above the $2,990 and $3,000 resistance levels. The first major resistance is around $3,000, followed by $3,050 and $3,120.  On the downside, if Ethereum fails to clear the $2,950 resistance, it may experience another decline. The initial support is near $2,930, and further support levels are at $2,900 and $2,865. Source: NEWSBTC

The price of Bitcoin has started to decline from the $62,000 resistance level and is at risk of dropping below $60,000. Bitcoin failed near $62,000 and is currently trading below $61,000 and the 100 hourly Simple Moving Average.  A bearish flag pattern was broken with support near $60,950, indicating potential bearish momentum. If the price closes below $60,000, it could lead to further losses. Immediate resistance levels are around $61,200, $62,000, and $62,500, while support levels are at $60,500 and $60,000.  If the price fails to climb above the resistance zone, it may continue to move down towards $58,500 and potentially the $56,650 support level. The technical indicators, such as the MACD and RSI, suggest a bearish sentiment for Bitcoin in the short term. Source: NEWSBTC

The Tron (TRX) price is showing strength and outperforming Bitcoin. It has surpassed the $0.1220 resistance level and is trading above the 100 simple moving average on the 4-hour chart.  There was a break above a bearish trend line with resistance at $0.120, indicating a positive trend. The price could continue to rise towards the resistance levels of $0.1275 and $0.1320.  If it manages to break above $0.1320, further gains towards $0.1365 and $0.140 are possible. On the downside, initial support is at $0.1220, followed by $0.1195 and $0.1180.  The MACD indicator is showing bullish momentum, and the RSI is above the 50 level, suggesting a positive outlook for TRX. Source: NEWSBTC

Two key indicators for Bitcoin, the funding rate and the 3-month annualized basis rate, have recently cooled off, suggesting a potential bullish trend for the cryptocurrency. The funding rate, which reflects trader sentiment, turned positive as long-position traders became more dominant, indicating their confidence in Bitcoin’s price increase. The OI-weighted funding rate has recovered from a negative rate and is currently at 0.0091%. This low funding rate combined with Bitcoin’s price bounce is seen as a positive sign by traders. However, liquidation data indicates that futures traders still lean bearish and expect a near-term price drop. Additionally, the annualized basis rate, which measures the cost difference between Bitcoin futures contracts and the actual price of Bitcoin, has increased to the higher end of the neutral range on major exchanges. Rates above 10% are generally viewed as a neutral-to-bullish signal by traders. Source: COINTELEGRAPH

According to a crypto analyst, Dogecoin One of the top 10 altcoins) has entered a long-term bullish rally after experiencing a price crash and swift recovery. The analyst points out that Dogecoin has formed strong support above $0.1, leading to upward bounces during market downturns.  The coin has also undergone a long correction period, similar to the previous 900-day correction, which suggests a bullish rally is underway. The analyst identifies the D wave as the current phase, which historically leads to a price increase of at least 100%.  The price targets mentioned include $0.28 as the first target, followed by a retracement to $0.16 and then a rise to $0.38. At present, Dogecoin is trading above $0.16 with an 18.6% increase in the last week, holding its position as the 8th-largest cryptocurrency with a market cap of $24.18 billion. Source: BITCOINST

Bitcoin, currently trading at $63,667.93, has shown strength and analysts predict a potential rally to $73,000 in the coming weeks. Technical analysis indicators, such as Bollinger bands and the “three white soldiers” candlestick pattern, suggest a bullish trend for Bitcoin. Resistance levels at $66,796 and $69,328 need to be surpassed for further price increments, with $67,500 being a critical level to watch.  Support levels at $61,735, $59,550, and $56,625 are important for preventing sharp declines. If Bitcoin breaks the $67,500 mark, it may lead to more aggressive upward movements.  Analysts emphasize the importance of closely monitoring these resistance and support levels to gauge Bitcoin’s price movements. Source: Cryptopolitan

Solana (SOL): Solana (one of the top 10 altcoins) is making efforts to regain its previous highs after a challenging period. It mentions that Solana is testing the 100-day EMA (Exponential Moving Average) and the $140 price level, which is a critical juncture for the cryptocurrency. The increasing trading volume suggests the potential for a breakout, and if Solana successfully breaches the 100 EMA, the next resistance level is around $150. The article also highlights the support level at $115 and the possibility of downward pressure if that level fails to hold.   Bitcoin: Bitcoin is approaching the crucial threshold of $60,000 and is currently hovering around the 100-day EMA at approximately $59,000. However, it mentions a cautious approach among investors, with the trading volume and price movements indicating a slower climb than anticipated. The immediate resistance after $60,000 is observed around $63,500, and maintaining support above $52,100 is crucial for sustaining bullish sentiment.   Dogecoin: Dogecoin has a significant concentration of holdings, with 63% of the total supply held by large holders. It also states that 80% of Dogecoin holders have been profitable. The holder composition reveals that a majority of holders have held their tokens for over a year, indicating long-term speculation or loyalty. On-chain signals for Dogecoin are mostly bearish, with cautious investor sentiment reflected in a minor decrease in the money metric and large transactions. The article highlights a crucial support level at $0.12 represented by the 200 EMA, and a break below this level could lead to further declines. On the upside, resistance is near $0.15334, indicating a potential recovery if surpassed. Source: UTODAY