Crypto Price Analysis 4-28: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, BITTENSOR: TAO, POLKADOT: DOT, ALGORAND: ALGO

The crypto market started the week on a tepid note as its market cap registered a marginal decline, remaining around $2.95 trillion. Markets were positive, with Bitcoin (BTC) and Ethereum (ETH) registering marginal increases. Ripple (XRP) and Solana (SOL) were more bullish, registering notable increases. SOL is attempting to regain $150 after slipping below the level over the weekend. Dogecoin (DOGE) is up over 1%, while Cardano (ADA) is up almost 3%, trading at $0.711. Chainlink (LINK) is up 1.13%, while Stellar (XLM) also registered a marginal increase. Toncoin (TON) , Hedera (HBAR) , Polkadot (DOT), and Litecoin (LTC) also registered marginal increases. World Liberty Financial Founders Meet Changpeng Zhao World Liberty Financial founders met with Binance co-founder and former CEO Changpeng Zhao to discuss crypto adoption and industry standards. World Liberty Financial announced the meeting on its official X handle, stating that founders Zach Witkoff, Zak Folkman, and Chase Herro met with Zhao in Abu Dhabi to discuss crypto adoption and innovation. The meeting is part of World Liberty Financial’s ongoing efforts to penetrate new markets. “WLFI’s founders @ZachWitkoff @zakfolkman @WatcherChase met with @cz_binance, the founder of Binance, to talk about growing global adoption, setting new standards, and pushing crypto to the next level. This is just the beginning.” World Liberty Financial has registered substantial interest from institutional players. DWF Labs, a leading market maker, and Web3 investment firm announced the purchase of $25 million worth of WLFI governance tokens as part of its US expansion strategy. World Liberty Financial holds just over $102 million in crypto assets, including 22.7 million USD Coin, $15.1 million in Wrapped Bitcoin, 13.9 million in Ethereum, and 9.93 million in Tron. SEC Commissioners Urge Overhaul Of Crypto Custody Regulations United States Securities and Exchange Commission (SEC) Commissioners Mark Uyeda, Caroline Crenshaw, and Hester Pierce, along with Chairman Paul Atkins, took part in the Crypto Task Force’s third roundtable on April 25 in Washington DC. The roundtable focused on the issue of crypto asset custody. During the meeting, Commissioner Uyeda emphasized the importance of regulatory clarity and urged the SEC to allow registered investment advisors to use state-chartered limited-purpose trust companies as qualified custodians. He also warned against regulatory uncertainty, stating, “The position of the prior administration that ‘most crypto assets’ are likely to be funds or securities has led many advisers to shoehorn all client crypto assets into qualified custody, and thereby forego certain investment opportunities that are incompatible with these custodial arrangements.” Uyeda also called for reforms to the special purpose broker-dealer regime, stressing the need for competitive custodial solutions that comply with federal law. “I agree with Commissioner Peirce that a large number of crypto assets are not securities. But the term ‘funds’ is not defined in the Custody Rule and the Commission may need to clarify whether any crypto assets constitute ‘funds’ for purposes of the rule.” Meanwhile, Commissioner Crenshaw talked about the risks of deviating from existing protections, stating, “If the SEC were to create a dual-regime, how do we ensure the crypto regime is as robust as the current regime? Additionally, how could the Commission address increased risks to investors and the broader financial system that may stem from different crypto custody rules.” She also warned that blockchain-specific risks, such as smart contract failures, hacking risks, and difficulty establishing control over digital assets, must be considered when making regulatory adjustments. Commissioner Crenshaw stressed that custody rules are critical in establishing market trust and stability, warning that shifting standards without regulatory safeguards could expose investors to unnecessary risks. Meanwhile, Commissioner Pierce called for smarter and more flexible regulations that reflect the realities of blockchain technology. “Our regulatory approach should recognize the differences across crypto assets. Qualified custodians exist for some crypto assets, but for others, self-custody might be the safer option.” XRP ETF Gets SEC Greenlight ProShares has announced it will launch three XRP-tracked investment products this week after receiving tacit approval from the United States Securities and Exchange Commission. These products include an Ultra XRP ETF (2x leverage), a Short XRP ETF, and an Ultra Short XRP ETF (2x leverage). However, there has been no movement on its spot XRP ETF. The SEC has acknowledged it has received several XRP spot ETF applications. ProShares ETF approvals come after Teucrium’s 2x XRP ETF began trading earlier this month. The ETF became the first XRP ETF in the US and has registered over $5 million in trading volumes. CME Group also recently announced the addition of XRP futures to its largest derivatives exchange in the US alongside BTC, ETH, and SOL investment products. Bitcoin (BTC) Price Analysis Bitcoin (BTC) began trading flat during the week as it struggled to build momentum and test resistance at $95,000. Selling pressure saw the flagship cryptocurrency tumble to a low of $92,927 as sellers attempted to overwhelm support levels. However, BTC rebounded from its low to reclaim $94,000. Price action has gained momentum as it pushes towards $95,000. BTC is trading around $94,750 at the time of writing as it attempts to cross $95,000. Analysts believe BTC could surge to all-time highs in May as institutional investors returned, leading to surging inflows and growing investor confidence. The flagship cryptocurrency has shown resilience, holding above $93,000. Investor confidence improved further thanks to a record $3.1 billion in net inflows to spot Bitcoin ETFs over the past five days. Willy Woo, a prominent on-chain Bitcoin analyst, was optimistic about Bitcoin’s outlook, stating, “BTC fundamentals have turned bullish, not a bad setup to break all-time highs. Capital flows into the network are ramping up. Both total and speculative flows have bottomed, when both align they join forces to make a bullish environment anchored in fundamentals.” Woo noted that speculative interest had returned while fundamental investment strengthened the market. “Our medium-term targets of 90K and 93K have been taken out. The 108K target is still in play with a new interim target of 103K forming.” However, a key BTC derivatives metric has shown bearish signals, leading to speculation whether $100,000 is still realistic. Perpetual Bitcoin futures contracts are favored by retail traders because their prices closely track spot markets. According to analysts, negative funding rates are highly unusual during a bull market as they indicate strong seller demand. Additionally, Bitcoin has strengthened its reputation as an independent asset after Gold failed to capitalize on its all-time high. The price chart shows that BTC is consolidating under the $95,000 mark. The flagship cryptocurrency faces considerable resistance at this level. BTC crossed the 50-day SMA on Thursday (April 17) but fell back in the red on Friday, settling at $84,518 after a marginal decline. The price recovered over the weekend, rising almost 1% on Saturday to reclaim $85,000 and settle at $85,033. Buyers retained control on Sunday as BTC registered a marginal increase and ended the weekend at $85,224. BTC registered an increase of almost 3% on Monday, surging past $87,000 and settling at $87,508. Bullish sentiment intensified on Tuesday as BTC rallied nearly 7% to reclaim $90,000 and settle at $93,373. Source: TradingView However, the rally stalled on Wednesday after encountering selling pressure at higher levels. Despite this, BTC registered a marginal increase and settled at $93,749. The price fell to an intraday low of $91,693 on Thursday as sellers attempted to overwhelm support levels. BTC rebounded from this level to reclaim $94,000 and settle at $94,009. Buyers retained control on Friday as BTC raced to an intraday high of $95,865 before settling at $94,776, ultimately registering an increase of almost 1%. BTC lost momentum over the weekend, registering a marginal decline on Saturday and then falling 0.99% on Sunday to settle at $93,802. The current session sees BTC up over 1% and trading at $94,919, on the verge of claiming $95,000. Analysts believe BTC can surge past $100,000 this week if it maintains momentum. Ethereum (ETH) Price Analysis Ethereum (ETH) continues to face resistance around $1,800 – $1,850, preventing a breakout. A break above this level could signal a potential rally. The world’s second-largest cryptocurrency traded sideways for most of the previous week as it struggled to push higher. Meanwhile, in a positive development for ETH, Grayscale Investment representatives met with members of the US Securities and Exchange Commission Task Force to advocate for changes to staking regulations tied to Ethereum ETPs. ETH’s price action was muted towards the end of the previous week, registering marginal increases on Thursday and Friday to settle at $1,588. The price continued to push higher on Saturday, rising 1.51% to reclaim $1,600 and settle at $1,612. However, it lost momentum on Sunday, dropping almost 2%, slipping below $1,600 and settling at $1,586. ETH reached an intraday high of $1,656 on Monday. It lost momentum after reaching this level and dropped to $1,579, ultimately registering a marginal decline. Price action turned bullish on Tuesday as markets rallied. As a result, ETH surged over 11%, crossing the 20-day SMA and reclaiming $1,700 to settle at $1,757. Source: TradingView Buyers retained control on Wednesday as the price rose over 2% to $1,796. However, ETH lost momentum after reaching this level thanks to selling pressure and dropped 1.40% on Thursday, settling at $1,770. The price recovered on Friday, rising almost 1% to $1,786. ETH continued to push higher on Saturday, registering an increase of nearly 2% to cross $1,800 and settle at $1,821. However, it was back in the red on Sunday, dropping almost 2%, slipping below $1,600 and settling at $1,792. The current session sees ETH up over 1%, having reclaimed $1,800 and trading around $1,810. Solana (SOL) Price Analysis Solana (SOL) is trading at a critical level after a week of volatility, which saw prices surge across the crypto market. SOL registered a substantial increase as well, surging past $140 and reaching an intraday high of $156 before declining. The Ethereum killer is trading at a critical level, with analysts divided about its trajectory. The next few weeks are decisive for SOL, with one analyst stating that markets will have a clearer idea if SOL’s rebound is a bear market bounce or the beginning of a new bull market expansion. SOL has been hit hard since January, losing 65% of its value during its most recent downtrend. The decline highlighted the growing selling pressure and speculation across the crypto market. SOL crossed the 50-day SMA towards the end of the previous week, rising over 4% on Wednesday and 2.57% on Thursday to settle at $134. Despite the positive sentiment, the price fell on Friday, registering a marginal decline. Bullish sentiment returned on Saturday as SOL rose over 4% and settled at $139. However, selling pressure returned on Sunday as the price fell 1.44% to $137. Sellers retained control on Monday as SOL fell almost 1% after reaching an intraday high of $142, ultimately settling at $136. Source: TradingView Bullish sentiment returned on Tuesday as markets rallied. As a result, SOL surged almost 9% to cross $140 and settle at $148. The price continued to push higher on Wednesday, rising 1.59% to claim $150 and settle at $151. SOL plunged to an intraday low of $145 on Thursday as sellers attempted to overwhelm buyers. However, the price rebounded from this level to register an increase of almost 1% and settle at $152. SOL lost momentum after reaching this level, dropping 1.10% to $150. Bearish sentiment persisted over the weekend as SOL dropped 1.08% on Saturday and 0.84% on Sunday, slipping below $150 and settling at $148. The current session sees SOL up over 2%, having reclaimed $150 and trading at $151. The bulls face pressure to defend current levels and keep SOL above $140. According to analysts, SOL must reclaim $180 to resume the bullish trend. A break above $180 could open the door for a move towards $200 and higher resistance levels. Ripple (XRP) Price Analysis Ripple (XRP) is showing strength as it trades above the 20, 50, and 200-day moving averages, up almost 7% over the past 24 hours after the SEC gave ProShares the green light for three XRP ETFs. XRP’s recent breakout suggests that its consolidation phase may be ending as investor optimism grows. Buyers will look to extend gains and push the price beyond $2.50, potentially reaching $3. XRP’s price action was muted after a significant price jump of over 6% on Tuesday, which saw the price rise to $2.21. However, with sellers active at this level, the rally lost momentum, and XRP could only register a marginal increase on Wednesday. XRP turned bearish on Thursday, falling to a low of $2.11 before settling at $2.20, ultimately registering a drop of 0.61%. Sellers retained control on Friday as XRP dropped 1.03% to $2.18. Source: TradingView However, sentiment changed over the weekend, and XRP registered a marginal increase on Saturday and moved to $2.19. Bullish sentiment intensified on Sunday as XRP rose almost 3% to $2.25. The current session sees XRP up nearly 4% and trading at $2.33. Buyers will look to maintain control and push the price to $2.50. A break above this level could see XRP rise to $3. Bittensor (TAO) Price Analysis Bittensor (TAO) continued its march towards $400, becoming one of the biggest gainers in crypto over the past two weeks. TAO’s upward trajectory began on Thursday (April 17) when it rose almost 8% to $248. The price continued to push higher on Friday, rising over 10% to cross the 50-day SMA and settle at $273. Buyers retained control over the weekend as TAO rose 6.06% on Saturday and almost 9% on Sunday, crossing $300 and settling at $315. Bullish momentum stalled on Monday as the price encountered volatility and selling pressure. Sellers ultimately gained the upper hand as TAO registered a marginal decline and settled at $314. Source: TradingView However, it was back in positive territory on Tuesday, rising nearly 8% to $338. Despite strong positive momentum, TAO was back in the red on Wednesday, dropping almost 1% to $336. The price registered an increase of 6.41% on Thursday but was back in the red on Friday, dropping 1.07% to $354. TAO continued to drop on Saturday, falling to a low of $337 before settling at $349, ultimately registering a drop of 1.42%. Bullish sentiment returned on Sunday as the price rose 3.36% and settled at $360. The current session sees TAO up over 4% and trading at $375. Buyers will look to continue TAO’s upward trajectory and push the price towards $400. Polkadot (DOT) Price Analysis Polkadot (DOT)’s rally has stalled in recent sessions as it struggles to go above $4.50. DOT’s latest push towards $4.50 began on Wednesday (April 16) when it rose 1.14% to $3.56. The price continued to push higher on Thursday and Friday, rising 2.25% and 0.82% to settle at $3.67. Bullish sentiment intensified on Saturday as DOT surged almost 6%, crossing the 20-day SMA and settling at $3.88. DOT could not register any movement on Sunday and ended the weekend at $3.88. DOT fell into the red on Monday, dropping almost 3% to $3.77. Bullish sentiment returned on Tuesday as the price surged over 6% to reclaim $4 and settle at $4.01. Source: TradingView Buyers retained control on Wednesday as DOT rallied to an intraday high of $4.20. However, it lost momentum after reaching this level and settled at $4.08, ultimately registering an increase of 1.75%. The price fell to an intraday low of $3.93 on Thursday as selling pressure intensified. However, DOT rebounded from this level to register an increase of almost 5% to reclaim $4 and settle at $4.27. Price action was muted on Friday and Saturday as DOT registered a marginal decline and a marginal increase to settle at $4.27. Bearish sentiment intensified on Sunday as DOT plunged over 4% to $4.09. DOT has recovered during the ongoing session, with the price up almost 4% and trading at $4.25. Algorand (ALGO) Price Analysis Algorand (ALGO) started the previous week on a bearish note, registering a marginal decline on Sunday. The price reached an intraday high of $0.203 on Monday. However, it could not stay at this level and dropped to $0.192, ultimately registering a marginal decline. Market sentiment changed on Tuesday as ALGO surged almost 9%, crossing the 50-day SMA and reclaiming $0.20 to settle at $0.209. Buyers retained control on Wednesday as the price reached an intraday high of $0.221 before settling at $0.213, ultimately registering an increase of 1.99%. Source: TradingView Bullish sentiment intensified on Thursday as ALGO rose 5.54% to $0.225. The price continued to push higher on Friday, rising 1.25% to $0.228. Despite the positive momentum, ALGO lost momentum over the weekend, registering a marginal drop on Saturday and falling 2.99% on Sunday to end the weekend at $0.221. The current session sees ALGO up over 4% and trading at $0.230. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily