- Summary:
- The crypto market cap has reclaimed the $3 trillion market cap level and the momentum on Solana, XRP and Bitcoin prices is noticeably upbeat.
The crypto market has reclaimed the $3 trillion market capitalisation mark, and Solana, XRP and Bitcoin price are likely to be among the key gainers.
Bitcoin
Bitcoin price has reclaimed the $95k support and will likely be on the upward trajectory in the near-term for as long as action stays above that level. The coin trades at $96,894 as of this writing, up by 0.8% on the daily time frame. In addition, its 24-hour trading volume rose by 45% in the last 24 hours, signaling strong buyer appetite.
In addition, Bitcoin price upward momentum is supported by open interest contracts, which grew by 2.4% in the last 24 hours to reach $28.3 billion. Furthermore, the volume of BTC’s exchange netflows declined from $177 million to $-71.25 million in that time frame. That shows that the volume of BTC coins leaving exchanges is higher than that of those coming in, signaling declining selling pressure. That favours further gains by BTC price.
Bitcoin Price Prediction
Pivot: Bitcoin price pivots at $96,175 and the upside narrative will prevail above that level. On the other hand, breaking below that level will favour the sellers to take control.
Resistance: BTCUSD’s first resistance will likely be at $98,000. Second hurdle could come at $99,520.
Support: First support at $95,010. Upside narrative invalid below that mark. Second support could come at $93,690.
Solana
Solana price has been on an upward trajectory gaining nearly 40% in the last month. The coin was at $147 at press time, with its traded volume rising by 35% in the last 24 hours. That denotes a bullishness that will likely keep it on the ascending trajectory.
There is also a notable spike in institutional appetite for SOL, with the coin in line for a potential spot ETF approval. This has seen some investors either accumulate or hold their coins in anticipation of the SEC decision. In the latest instance, DeFi Development Corporation revealed that it acquired 82,404 SOL for $11.2 million.
In addition, SOL Strategies bought 122, 524 SOL worth approximately $20 million. Such institutional investment patterns add traction to Solana price, which could enhance adoption.
Solana Price Prediction
Pivot: Solana price pivot mark is at $146.96. The buyers will be in control if action stays above that level. Conversely, breaking below that mark will shift the momentum to the downside.
Resistance: SOLUSD will likely encounter the first barrier at $148.55. Breaking above that level could clear the path to test $150.00.
Support: First support at $145.36. An extended control by the sellers could see the coin break below that level, invalidating the upside narrative and potentially testing $143.75.
XRP
XRP price has been on a downward trajectory in the last week, registering -4.3% in losses in that time. The coin has been trading sideways in the last three days, with a notable resistance at $2.20. However, investors have been accumulating the coin, and its Open Interest volume grew by 0.53% in the last 24 hours to reach $3.66 billion.
The momentum on XRP price on the daily time frame is still bearish-leaning, with the RSI at 47. However, the Moving Average Convergence Divergence (MACD) line has crossed above the signal line on the shorter 4-hour time frame, signaling early signs of a potential bullishness.
XRP Price Prediction
Pivot: XRP price pivots at $2.11. Action above that level signals bullishness. Otherwise, the momentum could shift to the downside.
Resistance: The first resistance likely at $2.18. Second resistance at $2.24.
Support: Primary support could come at $2.07. Breaking below that level will invalidate the upside narrative. Second support likely at $2.00.
