Cryptocurrencies Price Prediction: Safemoon, Ethereum and Polygon – European Wrap 25 May

FXStreet Team FXStreet

Is Safemoon coming back from the dead?

Safemoon price keeps coming back from the dead, closing in on a key horizontal resistance at $0.0008000, where it set daily candlestick highs both on April 20 and on the frenzy May 12 price action. SAFEMOON current price action chart only goes back to January 2022 as the Safemoon contracts were updated on a 1000:1 consolidation in the transition from V1 to V2.

DeFi market woes take a toll on Ethereum price

Ethereum price has been dropping for quite some time and has found its way to levels that were last seen almost ten months ago. This pressure is further exacerbated by the crumbling DeFi ecosystem that is starting to take a toll on ETH’s market value.

Why MATIC price is setting the scene for a blowout

Polygon (MATIC) price has had difficulty finding a supportive floor for bulls to get a foot in the door and price action moving higher. Now, however, a floor looks to have been identified at $0.62, with price action consolidating just above. This shows sellers are being met with plenty of buyers as the price is slowly trading sideways. Very silently price broke through the red descending trend line, opening the way for MATIC price to rally up towards $1.18, where it faces a triple cap to the upside.

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FXStreet Team

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Ripple and Stellar outlook: XRP awaits a breakout, XLM rally gathers pace

Ripple steadies at $1.19 below the upper boundary of its falling channel after facing rejection. Meanwhile, Stellar extends its gains, rallying over 25% so far this week. Derivatives metrics suggest a cautious outlook for XRP, while XLM's improving futures positioning suggests a bullish outlook.

Crypto Overview: Bitcoin loses $65,000 while Ethena and Stellar advance

The broader cryptocurrency market remains divided with Bitcoin slipping below $65,000 after Kevin Warsh’s hawkish speech the previous day, while altcoins like Ethena and Stellar advance upwards. Demand for altcoins with real-world utility, linked to stablecoins or tokenized stocks or bonds, fuels the short-term buying pressure.

Binance founder CZ urges governments to tokenize stock markets and launch sovereign stablecoins

Binance founder Changpeng Zhao has called on governments to tokenize their stock markets and issue sovereign stablecoins, arguing that blockchain technology can expand access to capital markets and increase the global use of national currencies.

Bitcoin remains under bearish pressure despite recent rebound — Glassnode

Bitcoin (BTC) remains well below key onchain metrics, with realized losses continuing to dominate capital flows despite a partial price recovery. The top crypto rebounded from lows near $60,000 to the $65,000 range after the US-Iran peace deal reversed much of the war premium that had weighed on risk assets.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.