Solana (SOL) is on the verge of a breakout, with projections suggesting it could rise above $164.50. Meanwhile, Ethereum (ETH) maintains its stability, consolidating between $3750 and $3950, attracting investors seeking consistency in a volatile market. Amid these developments, Furrever Token presents a unique opportunity with a 25% bonus on presale purchases. By using the code FURR25, investors can maximize their holdings and join a growing community. With its innovative approach and strong fundamentals, Furrever Token is poised to capture attention and potentially deliver significant returns. Don’t miss out on these exciting crypto opportunities!
Solana (SOL) Could Rise Above $164.50
Ranked fifth behind Bitcoin (BTC) with a market capitalization of $75.72 billion, Solana (SOL) started the day yesterday at $166.14, tested $167.10, and closed the day at $163.15, falling below the $164.50 support with a 1.80% decline. Beginning the new week positively, Solana (SOL) is currently trading at $164.75, up by 0.98%.
Solana (SOL) Daily Chart Analysis
Solana (SOL), the fifth-largest cryptocurrency by market capitalization, ended its movement between $116.00 and $164.50, which had lasted for over a month, and rose to $189. After testing $189, Solana (SOL) came under selling pressure again. Examining Solana (SOL)’s daily chart, it can be seen that yesterday’s selling pressure led to a weekly close below both the EMA21 support and the horizontal support area at $164.50. Starting the first day of the week with a rise, Solana (SOL) is currently squeezed between the EMA5 at $165.36 and the EMA21 at $164.72. For Solana (SOL) to continue its rise, it needs to close the day above the EMA5 at $165.36. If it continues to close below $164.50, there is a possibility that Solana (SOL) could re-enter the $116.00-$164.50 range.
Ethereum (ETH) Sees Consolidation Between $3750 and $3950
As the second-largest cryptocurrency after Bitcoin (BTC) with a market capitalization of $459.16 billion, Ethereum (ETH) began the previous day at $3,814.5, tested $3,835.9, and closed at $3,778.7, marking a 0.90% decline. Starting the first day of the new week with upward momentum, Ethereum (ETH) is now trading at $3,829.4, up by 1.34%.
Ethereum (ETH) Chart Insights
Ethereum (ETH), ranking just behind Bitcoin (BTC), tested the $4k level in March before entering a two-month downtrend. The cryptocurrency surged from the $2,858 support level following the announcement of a spot ETF approval, breaking through the downtrend. Post the sharp increase from the ETF news, Ethereum (ETH) has been trading within the $3,750-$3,950 range (highlighted in purple on the chart).
In one potential scenario, Ethereum (ETH) has formed a flag pattern on the daily chart. A daily close above $4k could indicate a target 20% above the current price, around $4.8k. Conversely, if Ethereum (ETH) fails to break above $4k, it may form a double top, potentially leading to a pullback to the initial rise level at $2,858.
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