Bitcoin Reaches New Peak
Bitcoin (BTC) reached a new peak today, indicating a robust appetite for risk in the altcoin market. This positive trend is expected to lead to more significant movements in the coming days.
Solana (SOL) Analysis
Before the rapid rise of BTC, SOL Coin had doubled its price, currently showing selling pressure with its neutral RSI. However, the RSI not being in the overbought zone suggests potential for an accelerated rally. The current analysis indicates an impending significant movement in either direction.
- Network Activity: The number of transactions on Solana’s decentralized exchanges reached an all-time high, exceeding 6.5 million.
- Daily Active Users: The strength of the Solana ecosystem is evident as daily active users surpassed 800,000, with a potential reach of 1 million within 15 days if the current pace continues.
SOL Coin Price Prediction
BTC is targeting $76,000, while SOL Coin maintains a price around $150. The historical resistance level at $148-150 is crucial, acting as a major line of defense for sellers. Currently, SOL Coin is priced at $147.38.
If SOL Coin can close above $150, it may target the psychological barrier of $200, its all-time high (ATH). Conversely, a deviation below $144 could lead to a retreat to the $140 and $138 areas. EMA indicators suggest a potential continuation of the uptrend.
Short-Term Outlook
In the short term, the direction of all cryptocurrencies will be influenced by this week’s upcoming final inflation data and BTC’s momentum. A pre-halving correction in BTC could trigger an exodus in altcoins at some point.
