Emerging reports show that Justin Sun might be ready to sell the Huobi exchange. TRX is not affected by the development, but HT could face severe withdrawals.

According to a new Bloomberg report, tron ​​[TRX] founder Justin Sun may be about to sell his stake in Huobi Global, the Singapore-based exchange. Sun, who joined Huobi’s team last year to help restore the platform’s global image, has faced problems ever since.

At one point, the exchange had to lay off staff. And several times, Huobi Token [HT] faced high selling pressure as the exchange exit reached considerable highs.

The Always Present Seller in TRX and HT

Bloomberg noted that the deal was still in its early stages, as Sun had only approached a potential investor in recent weeks. Sun remains one of the company’s largest shareholders. The cryptocurrency coverage section of the news platform, though, noted that the valuation was unclear.

Interestingly, the development has had little to no effect on TRX and HT prices. According to CoinMarketCap, HT rose 0.15%, while the value of TRX rose 0.21% one hour after the public disclosure. However, if the deal goes through, both tokens may be noticeably affected.

By measuring social volume, Santiment showed that TRX skyrocketed in this regard. Social volume is based on the top activities of crypto-related channels, measuring merger trends, as well as evaluating crowd behavior.

With the metric rising to 25, it implied that TRX was a major part of the discussion around market-based forums. However, HT was on the opposing side, indicating a lack of attention toward the token.

Should the speculation prove accurate, however, HT could experience a sharp increase in social volume. And a potential boost might not be in holders’ favor, as negative sentiment could thrive as a result of potential selling.

Tron Development is Running, but HT Inactive

Nevertheless, Tron could insulate itself from such an occurrence. The operations of both projects are not intertwined. In fact, the developers operating on the Tron Blockchain appear to have increased their output.

Santiment confirmed the progress as Tron development activity increased to 2.36. In contrast, for HT, the impact could be severe, especially with market value to realized value (MVRV) status.

At press time, the token’s 30-day MVRV ratio dropped to -6.084%. This means that many of the token holders have only suffered losses in the last month.

Meanwhile, Justin Sun has been involved in selling many tokens. Recently, it received a part of the Arbitrum [ARB] AirDrop and transferred to Huobi. One possible outcome of this type of action could be an offer to sell.

TRON Price Prediction for April 2023, by CryptoPredictions

TRON started in April 2023 at $0.002386822461206 and is expected to end the month at $0.059544005400469. During April, the expected TRX price maximum is $0.10528995467555 and the minimum is $0.071597169179377.

It is worth noting that while these predictions are often some of the most accurate for TRON on the market, they should never be taken as financial advice. For the investor, it is always a good idea to do some due diligence before investing.

By Audy Castaneda

On Friday, Ethereum (ETH) extended its winning streak to four sessions, rising 1.56%, to end the day at $1,822. US economic indicators and investment inflows supported the bullish end to the first quarter. Technical indicators remain bullish, with $2,000 in sight.

Ethereum (ETH) was up 1.56% on Friday. Following a 0.06% gain on Thursday, ETH ended March up 13.49% at $1,822. Following the broader crypto market, ETH jumped 52.4% in Q1. Notably, the quarterly profit was the second in five quarters.

A mixed start to the day saw ETH fall to a low of $1,780 by late morning. Moving away from the first major support level (S1) at $1,761, ETH rallied to an early afternoon high of $1,847. ETH broke above the first major resistance level (R1) at $1,828, before pulling back to end the day at $1,822.

Pre-Shapella ETH Staking Spikes to Offer a Bullish Session

ETH staking inflows increased for the fourth day in a row, a bullish sign. According to CryptoQuant, staking flows increased from 28,320 ETH on Thursday, to 55,104 ETH on Friday. The rally came despite intensifying regulatory scrutiny, which threatens investor access to crypto gambling in the US. The total value stake continued the uptrend this morning, providing another bullish signal.

Investors should continue to monitor regulatory activity which will continue to be the focal point in the near term. However, updates to the SEC v. Ripple case would likely silence anti-crypto rhetoric and news about the regulatory activity.

With no external market forces for investors to consider, ETH staking streams will continue to attract interest as the Shapella update date approaches.

Softer-than-expected US inflation numbers on Friday left riskier assets with support in the afternoon. The US Core PCE Price Index rose 4.6% in February, year-over-year, up from 4.7% in January. US indices responded to the statistics, supporting the bullish afternoon session. The NASDAQ Composite Index rose 1.74% on Friday.

Ethereum (ETH) Price Action – Technical Indicators

ETH was up 0.37 at $1,829. A mixed start to the day saw ETH drop to an initial low of $1,820, before rising to a high of $1,843.

ETH needs to avoid the $1,816 pivot to target the first major resistance level (R1) at $1,853. A move through Friday’s high of $1,847 would signal a breakout session. However, crypto news leads must be ETH-friendly to support a breakout.

In the event of a prolonged rally, the bulls would likely test the second major resistance level (R2) at $1883, and resistance at $1900. The third major resistance level (R3) sits at $1,950.

Ethereum broke above the 50-day EMA, currently at $1,780. The 50-day EMA has turned away from the 100-day EMA, with the 100-day EMA pulling away from the 200-day EMA providing bullish signals.

A hold above S1 ($1786) and the 50-day EMA ($1780) would support a break out of R1 ($1853) to the R2 ($1883) target and $1900. However, a drop-through S1 ($1786) and the 50-day EMA ($1780) would give bears a run at the 100-day EMA ($1750) and S2 ($1749). A drop through the 50-day EMA would send a downtrend signal.

By Audy Castaneda

It was a bullish end to a bullish quarter, with BTC rising 1.57%, ending Friday at $28,460. US economic indicators supported an afternoon breakout, and investor hopes for a win of Ripple in the SEC vs. Ripple case also provided support. Technical indicators are bullish, with $30,000 in sight.

On Friday, Bitcoin (BTC) rose 1.57%. Reversing a 1.14% loss on Thursday, BTC ended March up 23% to $28,460. It was an impressive first quarter, with BTC rising 71.8%. Notably, it was the first quarterly profit since the fourth quarter of 2021.

After a busy morning, BTC fell to a mid-afternoon low of $27,504. Pulling away from the first major support level (S1) at $27,408, BTC responded to lower US inflation figures, hitting a session high of $28,651. However, failing to reach the first major resistance level (R1) at $28,902, BTC pulled back. to end the day at $28,460.

US Economic Indicators and Hopes of a Ripple Victory Provide Support

On Friday, US economic indicators boosted demand for riskier assets, with inflation in the spotlight.

The core PCE price index rose 4.6% versus the 4.7% forecast. In January, the index rose 4.7%. On a month-over-month basis, the Index rose 0.3% versus the 0.4% expected. US indices responded to softer inflation numbers, with the NASDAQ Composite Index rising 1.74%.

Investors ignored regulatory jitters at the end of the quarter. Hopes of a Ripple victory in the ongoing SEC vs. Ripple case provided support. With the SEC and Gary Gensler targeting the digital asset space with increased scrutiny, investors might be hoping for a Ripple victory to end the reign of app regulation.

With no external market forces to consider, investors are likely to continue to respond to US economic indicators starting Friday. However, markets should monitor crypto newswires for updates on the ongoing SEC vs. Ripple case. News related to Binance and Coinbase (COIN) will also move the dial.

Bitcoin (BTC) Price Action – Technical Indicators

This morning, BTC was stable at $28,460. A range-bound start to the day saw BTC rally to an early high of $28,551, before pulling back.

BTC needs to avoid the $28,205 pivot to target the first major resistance level (R1), at $28,906. A move through Friday’s high of $28,651 would indicate an extended bullish session. Crypto news wires need to be crypto-friendly to support a prolonged rally.

In the event of a prolonged rally, BTC would likely test the second major resistance level (R2) at $29,352, and resistance at $30,000. The third major resistance level (R3) sits at $30,499.

BTC settled above the 50-day EMA ($27,810). The 50-day EMA has broken further away from the 100-day EMA, and the 100-day EMA has broken out from the 200-day EMA, sending bullish signals.

A hold above the 50-day EMA ($27,810) would support a break of R1 ($28,906) to target R2 ($29,352) and $30,000. However, a drop through the 50-day EMA ($27,810) and S1 ($27,759) would bring into view S2 ($27,058) and the 100-day EMA ($27,034). A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda