Cryptocurrency The Crypto World analyst platform has carried out an in-depth assessment of the price trends of major cryptocurrencies, bitcoin, Ethereumand solarium. The analysis highlights imminent breakouts in the trio of assets.
The analyst noted that these three currencies could rise in the coming days and highlighted the key reasons for this.
Bitcoin (BTC)
Assessing Bitcoin first, the analyst points to indicators that point to a major advance as volatility drawdowns historically precede explosive breakouts. News that BlackRock is buying $45 million worth of Bitcoin could further limit btc supply and cause a leak.
Crypto World is also observing bullish technical signals such as Bitcoin holding above its 50-day moving average and the daily Relative Strength Index approaching a resistance breakout. As such, they foresee a 20-30% rally within weeks if Bitcoin breaks out of its recent trading range.
Ethereum (ETH)
As for Ethereum, the analyst confirms that a breakout of the bullish triangle has already occurred on its daily chart. The MACD momentum indicator also produced a bullish crossover, indicating positive momentum. However, ETH faces resistance around the $2,400 level before likely challenging the pattern price target near $2,580.
Solana (SUN)
Finally, assessing Solana, Crypto World detects a bearish descending triangle with a breakout target around $83. However, it should SUN If it resists the selling pressure and breaks the resistance at $96, there is an alternative bullish target around $109. At the time of writing, Solana is trading around $104.8.
So while risks remain ever-present in cryptocurrency markets, Analyst Crypto World describes an overwhelmingly bullish backdrop, in which both Bitcoin and Ethereum appear poised to rise soon. Solana's prospects are more doubtful amid the threat of a triangle breakout, although positive momentum may prevail.
However, the bullish momentum can also reverse in case of any bearish movement in the market.
