![]() Solana (SOL) has remained a key figure in the cryptocurrency industry despite facing many controversies in the present crypto bear market. Solana (SOL) Price Analysis as a Weekly Top 5 Cryptocurrency to Watch SOL USDT PRICE CHART 1D This has highlighted the need to pay attention to these weekly top 5 cryptocurrencies (SOL, LTC, XRP, SHIB, DOGE) and areas of interest for many traders and investors before their major moves to an upside or downside, depending on their price actions. If the price of ETH continues in its spiral downtrend, we could see the price retesting the lows of $1,550 to $1,500 before seeing a major price bounce to the upside as the price of Ethereum looks heavier to the downside than to the upside.ĭespite the price of Bitcoin and Ethereum suffering much price decline, the cryptocurrency market has seen some great crypto tokens showing many signs of a potential price rally in recent weeks, with CYBER, PERP, and others rallying by over 300% within a week. If the price of Bitcoin fails to hold above the minor support of $25,300, we could see the price pushed by BTC bears to a low of $24,000 to $23,500, acting as a demand zone for BTC price as bulls would look to defend this region and push price higher for a possible price recovery.īitcoin’s stalling in price has also had much effect on the like of Ethereum (ETH) as ETH has remained on a downward price movement for the past month, suggesting price has remained much under the influence of ETH bears.Īfter suffering rejection from a high of $2,000, the price of Ethereum has struggled to show real flame to the upside as Ethereum bears have dominated the price of Ethereum to the downside, giving ETH little or no room for price bounce to the upside. ![]() The price of BTC currently trades below $26,000, suggesting the price of Bitcoin needs to break above the resistance of $26,500 for BTC bulls to push the price high to a region of $27,300 for a minor relief bounce to be possible.īitcoin’s price trading below the 50-day and 200-day Exponential Moving Averages (50-day and 200-day EMAs) signifies the bear-dominating price as the price would most likely continue in its downtrend if BTC bulls fail to reclaim the high of $26,500. Looking at the trader’s chart, he appears to predict ETH/BTC rising to 0.06992 BTC worth $1,799.Īt time of writing, ETH/BTC is trading for 0.06303 BTC worth $1,621.Bitcoin has remained much under the influence of BTC bears for over a month now as the price of Bitcoin has failed to break past the high of $26,500 after the price of Bitcoin fell from its high of $29,500 to a low of $25,800. ![]() The bull market always starts when nobody expects it and, this might be the period.” Source: Michaël van de Poppe/X “There’s a high chance that we’ve seen the low on Ethereum against Bitcoin as well, as we’re having the case of the low 252 days prior to the halving of Bitcoin.Īdd to that the case that we’re most likely going to see an approval of the Ethereum futures exchange-traded fund to be confirmed in a maximum of one month from now. Van de Poppe also says he is bullish on Ethereum ( ETH) against Bitcoin (ETH/BTC). If that continues to happen, we’re on the edge of having breakouts on altcoins across the board.” Source: Michaël van de Poppe/X We’ve seen a case where the BTC pairs of altcoins are bouncing up. But did we see that happen in the previous corrections? That means that, as we’re again 8-10 months before the halving of Bitcoin, we can expect to see a surge in altcoins, rather than a downwards moving market.Īnd yes, of course, if Bitcoin falls another 10% in September, the US dollar values of altcoins will start to fall too. On the other hand, Bitcoin dominance is down since the test of the 200-week EMA, which is in line with the previous cycles, too. “Well, the overall sentiment is still that the markets are continuing to fall, which might be possible. Generally, traders see a bearish BTC.D chart as a positive sign for altcoins as it suggests that alts may rise faster in value than BTC. According to the analyst, the Bitcoin dominance chart could repeat its late 2019 to mid-2020 market structure when it respected the 200-week exponential moving average (EMA) as resistance.
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