Ethereum price is consolidating above the $3,180 support. ETH must clear the $3,350 resistance zone to start a fresh increase in the near term.

• Ethereum started a fresh increase from the $3,180 support zone.
• The price is trading above $3,250 and the 100-hourly Simple Moving Average.
• There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start another increase if it stays above the $3,220 support level.

Ethereum Price Breaks Resistance

Ethereum price started a decent upward move from the $3,180 level, beating Bitcoin. ETH was able to surpass the $3,220 and $3,250 resistance levels.

There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD. The pair even surpassed $3,300 and tested $3,350. A high was formed at $3,346 and the price is now moving lower. There was a move below the $3,320 and $3,300 support levels.

The price dipped below the 23.6% Fib retracement level of the upward move from the $3,181 swing low to the $3,346 high. Ethereum price is now trading above $3,250 and the 100-hourly Simple Moving Average.

On the upside, the price seems to be facing hurdles near the $3,350 level. The first major resistance is near the $3,370 level. The main resistance is now forming near $3,450.

A clear move above the $3,450 resistance might send the price toward the $3,500 resistance. An upside break above the $3,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,550 resistance zone or even $3,580 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,260 level. The first major support sits near the $3,220.

A clear move below the $3,220 support might push the price toward the $3,180 support. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,350

The U.S. Senate Banking Committee has officially set its roster for the new digital assets committee, putting Senator Cynthia Lummis at the top, as expected. But it also includes two names that received heavy backing from the crypto political action committee Fairshake in the 2024 elections.

New Senator Bernie Moreno, the Ohio blockchain entrepreneur who knocked off former Democratic Chairman Sherrod Brown, is among the panel’s five Republicans. The crypto super PAC devoted a towering $40 million to back Moreno in that contest.

And among the four Democrats, the ranking senator is Arizona Democrat Ruben Gallego, who received about $10 million in ad support from Fairshake.

The subcommittee is likely to represent the tip of the spear for crypto legislation in this session of Congress. The House of Representatives had been far ahead of the Senate last year in approving digital assets measures, but the Senate Banking Committee led by Brown had resisted taking up the bills.

With the new subcommittee in place, led by Wyoming Republican Lummis, the industry is likely to soon take up bills. Lummis has authored a few herself in previous sessions.

With OSOL AI index pumping 135%, experts suggest MEMEX’s new meme coin index presale could be next to surge.

OSOL (OSOL), the AI Index token on the Solana blockchain, has experienced a dramatic price surge, climbing 135% in recent trading sessions.

The token, designed to provide AI-powered insights and investment tools, saw its price soar from $0.02599 to a peak of $0.08461 within 24 hours. At the time of writing, OSOL is trading at $0.04847, still maintaining an impressive 76.20% increase over the day. With a market cap of $48.23 million and 24-hour trading volume of $792,269, the token’s liquidity and demand indicate strong market engagement.

Meanwhile, a new meme coin index platform is also turning heads. Meme Index (MEMEX) has now raised over $2.7m through its presale as it seeks to provide traders with a solution to market volatility.

OSOL showcases volatile price movements

From a technical perspective, the OSOL/USDT trading chart on the hourly timeframe showcases volatile price movements.

After the token hit its peak, it retraced to $0.04720, aligning closely with its 9-period SMA ($0.04779) and EMA ($0.04929).

The Bollinger Bands indicate high volatility, with the price hovering near the lower band at $0.03659, suggesting potential support.

On the 1-minute chart, OSOL displays a rebound from intraday lows, reflecting short-term buying pressure.

Key indicators such as the 9-period SMA ($0.04675) and EMA ($0.04679) suggest a stabilizing trend, though the Bollinger Bands remain wide, signaling ongoing fluctuations.

As OSOL approaches its next phase, its transformative AI Index platform continues to attract investor attention.

However, its network-specific approach has sparked discussions about the need for broader solutions that cater to multi-chain ecosystems.

MEMEX: Expanding horizons beyond Solana

The recent 135% price surge of OSOL showcases the potential of indexing solutions. However, its exclusive focus on Solana presents limitations for those seeking broader exposure across multiple blockchain ecosystems.

This is where Meme Index sets itself apart. 

Unlike OSOL, which operates solely within the Solana network, MEMEX will span a variety of blockchains, offering a cross-chain investment platform that provides unparalleled diversification.

Meme Index could transform the way investors approach the highly volatile meme coin market.

By offering a cross-chain index platform, MEMEX will eliminate the guesswork and risks associated with chasing individual tokens. Within just one month of its presale, the project has raised over $2.7 million, cementing its position as a game-changer in the crypto space.

The platform introduces four tailored indexes to cater to varying risk profiles and investment goals.

The Meme Titan Index focuses on established tokens like DOGE, SHIB, and PEPE, offering stability and gradual growth.

For those seeking higher returns, the Moonshot Index includes emerging tokens with market caps under $1 billion, while the Midcap Index targets mid-tier tokens poised for significant growth.

Risk-tolerant investors can opt for the Meme Frenzy Index, which features volatile and unconventional tokens, providing opportunities for exponential gains while minimizing the impact of individual token failures.

Meme Index’s adaptability extends beyond its index offerings. Token holders can customize their portfolios, vote on which tokens are included in the indexes, and participate in governance decisions, ensuring the platform evolves with market trends.

This community-driven approach enhances the relevance and effectiveness of each index.

Priced at $0.0154693, MEMEX provides an accessible entry point for early adopters. Holders also benefit from staking with an APY of up to 846%, adding significant passive income potential.

While single-chain solutions like OSOL may appeal to Solana enthusiasts, MEMEX’s cross-chain reach and tiered risk options position it as a potentially superior choice.

By combining diversification, adaptability, and community governance, Meme Index aims to redefine how investors engage with the meme coin market, offering a safer and smarter path to potential returns.

For more information on Meme Index, visit their website.

Crypto exchange Phemex appears to have been the victim of a multi-million exploit on Thursday, according to online reports. Millions worth of USDT, USDC, Ethereum (ETH), and other crypto assets were stolen from the exchange’s hot wallets, resulting in a temporary half of withdrawals.

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Phemex Suffers First Crypto Exchange Hack Of 2025

On Thursday morning, the first crypto exchange hack of the year hit the industry. Multiple reports revealed suspicious activity involving Phemex’s hot wallets was taking place over several chains.

Blockchain security firm Cyvvers shared on X it had detected multiple transactions to several suspicious wallets on different chains, “including BNB, ETH, OP, POL, BASE, and ARB.”

The security firm’s initial report stated that over $29 million worth of crypto had been transferred to the suspicious addresses, later raising the sum. “Upon deeper analysis, it has come to light that both BTC and TRON blockchains have also been impacted, with the estimated total loss now reaching approximately $37 million,” the update read.

Cyvvers seemingly identified around 125 suspicious transactions spread across the different blockchains and noted that the attackers had started swapping the tokens to Ethereum (ETH) to avoid potential freezing measures.

Meanwhile, on-chain data analysis firm Lookonchain broke down the crypto heist, stating that the hack had taken around $31 million worth of crypto assets. According to the analysis, 3.48 million USDC, 3.42 million USDT, and 841 ETH, worth $2.7 million were drained from the exchange’s hot wallet.

Additionally, the attackers took 110,701 LINK, 142 billion PEPE, 1.19 million FET, and 29,509 AVAX, valued at around $7.3 million combined. Lookonchain also listed ONDO, TRX, CRV, JASMY, AAVE, SHIB, GRT, and BRETT, as part of the stolen crypto assets.

Compensation Plan In The Works

After the news, Phemex CEO Federico Variola confirmed the attack on one of the crypto exchange’s hot wallets. Variola assured users that Phemex’s cold wallets remained safe and that they were investigating the reports.

The exchange then announced on X the temporary halt of withdrawals due to the emergency inspection and strengthening of the security measures but did not offer further details about the incident.

To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored soon. Phemex and the development team apologize for the disruption. Our mission to provide a seamless and trusted trading environment remains firm.

Nonetheless, the post stated that ongoing business operations were fine and that trading services continued as usual. Phemex’s team also revealed they are working on a compensation plan, which will be announced soon.

It’s worth noting that, in 2024, the number of hacks and total value lost increased from the year prior. According to Chainalysis data, 2024 was the fourth consecutive year in which the funds stolen from crypto hacks exceeded the billion-dollar mark.

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Additionally, the total value stolen surged to $2.2 billion last year, and it became the year with the most individual hacks, reaching 303 incidents by December.

Centralized exchanges (CEXs) were the most targeted platforms in Q2 and Q3, recording some of the largest incidents in the industry’s history, while Decentralized finance (DeFi) platforms accounted for the largest share of stolen assets in Q1, like most quarters between 2021 and 2023.

Featured Image from Unsplash.com, Chart from TradingView.com

Morgan Stanley (MS) is figuring out how it can act as a transactor in the crypto market, CEO Ted Pick said.

The bank, which has some $1.6 trillion of assets under management, will work with the U.S. Treasury and other regulators to figure out how it can offer crypto in a safe way, Pick said in an interview with CNBC at the World Economic Forum in Davos, Switzerland on Thursday.

“For us, the equation is really around whether we, as a highly-regulated financial institution, can act as transactors,” he said.

Pick had been asked about his views on cryptocurrency in the U.S. under the supposedly pro-crypto presidency of Donald Trump.

He described how Morgan Stanley is assessing whether the crypto industry has come of age as an asset class.

“I think there is liquidity and that liquidity will express itself in all kinds of different ways,” Pick said in an apparent reference to the availability of crypto exchange-traded funds (ETFs) in the U.S.

U.S. spot bitcoin (BTC) ETFs now hold a combined $39 billion worth of the largest cryptocurrency and first started trading in early January last year.

Read More: New Bitcoin ETF Promises 100% Downside Protection Against Price Volatility. Here Is How

Investors shift focus to Remittix, a new DeFi project raising millions in presale with hopes of changing global transfers.

Recent reports reveal that those who have invested in top altcoins, especially Solana, have turned towards new DeFi projects like Remittix (RTX). In their optimism about this debut crypto platform, these investors predict that it will perform impressively in the industry by potentially changing global transfers.

Interestingly, Remittix is already gaining traction, especially in its token presale, which has raised millions from investors. Keep reading and find out why Remittix is poised to meet expectations.

Solana stumbles after record high

Recently, Solana saw a significant surge with the altcoin price reaching a peak of $294.33 on January 19. However, it has since fallen by 14% from that level as it is currently trading at $251. Current analysis indicates that Solana may face more challenges ahead.

Notably, Solana’s network saw transaction fees surge to $1.4 million in 10 minutes after the TRUMP token launch, but transactions plummeted from 450,000 to 150,000. This decline indicates reduced activity and interest, contributing to the altcoin price decline from its all-time high. 

Total Value Locked (TVL) in Solana liquidity pools also dropped substantially from $12.191 billion to $10.964 billion on January 19th because investors began to lose faith in the token. 

As the TVL continues to decline, further drops in price are likely. 

Analysts suggest that if SOL falls to a support zone between $222.80 and $210.10, it might bounce back from its recent decline. However, if negative sentiment grows and the support fails, SOL could drop even lower.

Remittix: The next-gen remittance token

Looking at the much support Remittix has gained from holders of top altcoins like Solana over the weeks, it is indeed not any regular cryptocurrency. In fact, some believe it embodies a forward-thinking approach to global transfers that prioritizes user experience, transparency and accessibility. 

The core of this platform’s features is the RTX token which benefits both growth and practical use. The project design features a permanent 1.5 billion token limit to create scarcity that benefits users when others join the platform. When users own RTX they directly participate in the platform’s development process and management decisions as stakeholders.

Remittix stands out for its commitment to transparency. Traditional cross-border payment systems often hide true transaction costs behind opaque fees and inflated conversion rates. Remittix tackles this issue head-on, making sure that users are fully aware of what they are paying. This clarity builds trust and allows users to feel confident in their transactions.

The platform also excels by integrating cryptocurrencies with conventional banking systems, creating a quick, secure, and cost-effective method for international money transfers. Users can convert over forty different cryptocurrencies into fiat currency and send it directly to bank accounts around the globe. This capability not only simplifies the remittance process but also opens doors for those who may have felt excluded from the traditional financial system.

Excitingly, RTX is currently priced at just $0.0272 and the demand is now more noticeable than ever. With over 250 million tokens already sold, Remittix has raised more than $5.2 million in its presale. Analysts are buzzing about its potential, projecting an impressive 50x increase  in the altcoin price, possibly before the year runs out. As Remittix solidifies its position in the financial landscape with its unique blockchain-powered payment solutions, early investors are poised to reap significant rewards.

To learn more about Remittix, visit the Remittix presale and join the Remittix community.