ETH nears key level, what will it take to break through resistance?

Crypto news

📈 ETH nears $4,000 – Ethereum continues its steady climb, gaining 3.4% overnight and approaching a key psychological level.

🚀 Altcoin boost – Optimism (OP) surged over 16% as broader altcoin momentum picks up.

📊 Bitcoin RSI rebounds – Bitcoin’s RSI bounced back to 50 after nearing oversold levels late last week.

📅 Big week ahead – All eyes on Wednesday’s Fed interest rate decision and the release of the US Crypto Report.

Ethereum (ETH) keeps on giving as it inches towards the $4,000 key price level, last seen during the rally earlier this year. The original smart contracts crypto has added another 3.4% to its price overnight, pulling along many others. Some like Optimism (OP) are seeing outsized gains, rallying by more than 16% overnight. While Bitcoin’s moving along at a more modest pace, the Bitcoin Relative Strength Index (RSI) has bounced back to 50 after dipping close to oversold territory (30) late last week, signalling a return of investor interest. 

In macro news, it’s a big week for economic and crypto events. The Fed will release their latest interest rate decision on Wednesday, with the broader market expecting a continued pause on rates until the September meeting. On the same day, the US government is expected to release their highly anticipated Crypto Report. Will it prove to be a catalyst for markets as it has in the past? 


📊 Top performers over 24hrs 

↗️ Optimism (OP): +16%

↗️ Lido (LDO): +9.5%

↗️ Helium (HNT): +8.3%

Data is correct as at 09:51 GMT, 28 July


🌍 Total crypto market cap ↗️

The global crypto market cap is approximately $3.95  trillion, up 1.23% over the past 24 hours. 

🟠 Bitcoin (BTC) ↗️

Price: $118,908, up 0.64% in the last 24 h
Daily high: $119,754
Daily low: $117,914

📈 S&P 500 ↗️

SPY is currently up about 0.4% since yesterday’s close. 

🥳 Fear & Greed Index

The Crypto Fear & Greed Index stands at 67/100, indicating Greed among investors.

📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for BTC is approximately 50, in neutral territory.

Data is accurate as at 08:01 GMT, 28 July.


Newsmaker 

Ethereum products year-to-date inflows surpass 2024 total

  • Crypto investment products issued by fund managers like BlackRock, Grayscale, and Fidelity attracted $1.9 billion last week, extending a 15‑week streak of net inflows, CoinShares said in its latest weekly report, as reported by The Block.

  • “The continued rotation into ETH and a handful of large-cap altcoins follows multiple record-setting weeks for crypto investment vehicles and turnover in July, with James Butterfill, Coinshares’ head of research, flagging that sentiment remains constructive even as investors pared their exposure to bitcoin products,” according to the crypto publication. 


*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.


25 July

🔍 RSI indicates market cooldown – Bitcoin’s Relative Strength Index (RSI) has dipped to 35, just above the oversold threshold of 30.

📉 Bitcoin drops below $116K – BTC is down over 2% overnight, trading around $115,200, while others like Solana are seeing steeper declines amid a broader cooldown.

🦅 US crypto policy report incoming – A major US government report on crypto is due 30 July.

🏦 Fed decision could set August tone – The Fed is expected to hold rates steady, despite pressure from Trump. 

The Bitcoin Relative Strength Index (RSI) gives a clear picture this morning of the short-term reversal in markets following July’s rally. The RSI, a widely watched sentiment tracker, is sitting at 35 this morning. It’s not a crystal ball for future price moves by any means, but a level of 30 is considered oversold and may signal selling exhaustion, while 70 typically indicates overbought conditions and incoming selling pressure.

Bitcoin (BTC) is down more than 2% overnight, trading around $115,200 at the time of writing. Solana (SOL) and other altcoins have posted deeper losses. Ethereum remains in the green but is moving more steadily as the broader market cools.

Looking ahead, investors are keeping an eye on a US government crypto report due 30 July, the same day as the Federal Reserve’s next interest rate decision. The crypto report is expected to offer more insight into national crypto policy, including the US government’s potential plan for a Bitcoin strategic reserve.

As for monetary policy, the Fed is widely expected to hold rates steady until at least September, despite calls from President Trump to cut rates and ease debt servicing costs. With inflation and employment still guiding its policy, the Fed’s comments, combined with the crypto report, could shape market momentum heading into August.


🌍 Total crypto market cap ↘️

The global crypto market cap is approximately $3.79  trillion, down 1.65% over the past 24 hours. 

🟠 Bitcoin (BTC) ↘️

Price: $115,926, down 2.66% in the last 24 h
Daily high: $119,415
Daily low: $115,141

📈 S&P 500 ↗️

SPY is currently up about 0.07% since yesterday’s close. 

🥳 Fear & Greed Index

The Crypto Fear & Greed Index stands at 66/100, indicating Greed among investors.

📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for BTC is approximately 35, in neutral territory.

Data is accurate as at 08:I 24 GMT, 25 July.



*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.


24 July

📉 Altcoin correction: XRP and Stellar (XLM) dropped over 10% as the market cooled off after a strong run.


💰 Bitcoin holds steady – BTC continues to consolidate just below $120K despite broader weakness in alts.


😬 Sentiment check – The Fear and Greed Index still shows “Greed,” hinting that investor confidence remains intact.


🌐 Global tailwinds – Trade progress and looming rate cuts.

Crypto markets pulled back sharply after weeks of strong gains, with altcoins bearing the brunt of the correction. XRP dropped more than 10% overnight, while Stellar (XLM), a top performer earlier this week, saw similar losses. Bitcoin continues to drift, consolidating just below the $120,000 mark. Despite the cooling market, investor sentiment remains in “Greed” territory, according to the Fear and Greed Index.

Meanwhile, broader risk-on markets are showing strength. US equities are in the green following a trade tariff deal between the US and Japan, with progress also reported in talks with the EU ahead of the 1 August deadline. The Federal Reserve’s interest rate decision, set for 30 July, could offer clues on when rate cuts might begin, with many expecting that shift to come in September.

With trade tensions easing and rate cuts potentially on the horizon, could this renewed optimism spark another leg up for Bitcoin and crypto markets? And is the altcoin slowdown just a temporary pause, or a sign of capital rotating back into Bitcoin and other large-caps? Let’s see. 


📊 Top performers over 24hrs 

↗️ Curve DAO: +1.12% 

↗️ Maker: +0.42%

↗️ Bitcoin: +0.36% 

Data is correct as at 09:08 GMT, 24 July


🌍 Total crypto market cap ↘️

The global crypto market cap is approximately $3.84  trillion, down 2.8% over the past 24 hours. 

🟠 Bitcoin (BTC) ↘️

Price: $118,876, down 0.86% in the last 24 h
Daily high: $119,179
Daily low: $117,422

📈 S&P 500 ↗️

SPY is currently up about 0.78% since yesterday’s close. 

🥳 Fear & Greed Index

The Crypto Fear & Greed Index stands at 67/100, indicating Greed among investors.

📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for BTC is approximately 46, in neutral territory.

Data is accurate as at 08:31 GMT, 24 July.


Newsmaker 

Highly-anticipated US crypto report to be made public on 30 July

  • The report follows a 180-day study mandated by an executive order issued earlier this year, and is expected to outline strategic steps for the country’s engagement with cryptocurrencies, including details on the establishment of a national Strategic Bitcoin Reserve funded primarily by Bitcoin seized through law enforcement activities.
  • Bo Hines, Executive Director of the President’s Council of Advisors on Digital Assets, recently confirmed the date on X. 
  • The report could provide crucial insights into Washington’s evolving stance on cryptocurrency regulation and innovation, and is widely expected to recommend a legislative framework that supports a responsible yet forward-looking approach, continuing the administration’s aim to position the US as a global leader in the digital asset space. 


*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.


🟠 Bitcoin holds steady – under $118K as the broader crypto market cools.

🚀 Solana rises 2% – outperforming other large caps over 24 hours. 

📈 XRP stays near record highs – up nearly 60% this month despite overnight dips.

📊 All eyes on the Fed – with rate cuts and Powell’s response to Trump adding tension to markets.

Bitcoin (BTC) remains steady just under $118,000 this morning, while the broader crypto market shows signs of slowing down after weeks of strong rallies. A few outliers are still pushing higher, Solana (SOL) is up more than 2%, off the back of ecosystem developments. The Jito Foundation, which aims to optimise Solana’s staking economy, announced its new Block Assembly Marketplace (BAM). BAM promises faster, more private, and programmable transactions. 

Ethereum (ETH) is slightly down by about 2% this morning but still holds a 22% weekly gain. XRP remains near its all-time highs, consolidating around $3.45. Despite an overnight dip, XRP is still up nearly 60% this month, benefiting from institutional demand and positive market sentiment.

Apart from these intra-crypto developments, markets are now focused on the US Federal Reserve’s upcoming interest rate decision at the end of July. Last week, President Trump called for Fed Chair Jerome Powell’s resignation, increasing pressure on the central bank. Investors are watching not just for rate policy signals but also for how Powell responds to Trump’s remarks, adding an extra layer of drama to the inflation vs. monetary policy narrative playing out globally. 


📊 Top performers over 24hrs 

↗️ Jupiter (JUP): +2.96%

↗️ Solana (SOL): +2.66%

↗️ Berachain (BERA): +2.58%

Data is correct as at 09:09 GMT, 22 July


🌍 Total crypto market cap ↘️

The global crypto market cap is approximately $3.92  trillion, down 1.06% over the past 24 hours. 

🟠 Bitcoin (BTC) ↘️

Price: $118,178, down 0.97% in the last 24 h
Daily high: $119,466
Daily low: $116,787

📈 S&P 500 ↗️

SPY is currently up about 0.14% since yesterday’s close. 

🥳 Fear & Greed Index

The Crypto Fear & Greed Index stands at 67/100, indicating Greed among investors.

📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for BTC is approximately 55, in neutral territory.

Data is accurate as at 07:48 GMT, 22 July.


Newsmaker 

Solana ecosystem upgrade on the way 

  • The Jito Foundation has announced the launch of the Block Assembly Marketplace (BAM), a new system designed to improve how transactions are processed on the Solana blockchain.


  • BAM makes the order of transactions clear and easy to verify, reducing the chances of unfair practices like front-running, where someone jumps ahead in line to profit from pending transactions. It also allows developers to build new kinds of financial applications directly at the blockchain infrastructure level and creates new ways for participants to earn revenue.


  • “BAM opens up an entirely new design space for developers to build applications that weren’t possible before,” said Lucas Bruder, CEO of Jito Labs. “It gives builders more control, creates new ways to generate and share value, and lays the groundwork for a more dynamic, composable blockspace economy on Solana. Our goal is to grow the pie—by making Solana more transparent, programmable, and rewarding for everyone contributing to its success.”


*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.


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