Bitcoin ($BTC) is below $64,000 at the press time. However, that has not stopped the community from speculating a rebound to $70,000. One reason is its potential – pretty much the same thing that pulled it from the low $20,000 to an ATH of around $74,0000. Solana ($SOL) and Ethereum ($ETH) are, meanwhile, setting a trend for altcoins and assisting each other in making more gains.
Cardano’s ADA is attempting a rebound amid these developments.
Bitcoin is currently listed at $63,591.21, down by 3.09% in the last 24 hours at the time of writing this article. The flagship crypto continues to dominate the market in terms of its share which is hovering around 54%. Bitcoin picked up the pace when the US SEC approved its Spot ETF product. What fueled the growth was the Halving event irrespective of the level of impact it has demonstrated.
Analysts have previously stated that the token can end 2024 as high as $150,000. This is very well above the anticipated jump to the $100k milestone. It is rather safe to go by the lower margin. That way anything more than that would only make up for the fortunate profit. BTC must, first, secure the resistance of $67,000 and rise to $73,000 in the next 5 days. This would open the doors to a jump to $85,008 at 32.26% of the current value.
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Its 14-day RSI is 39.03 amid the volatility of 2.35%. Prevailing sentiments are largely bearish as the Fear & Greed Index hands out 63 points to BTC. The 50-day SMA and 200-day SMA are $66,419 and $56,501, respectively.
The SOLETH chart has begun setting a barometer of volatility. Both tokens are more likely to make the best during the altcoin season. ETH will have an additional drive from the approval of its ETF product by the Commission.
SOL is exchanging hands at $131.44, down by 4.29% in the last 24 hours. It is poised to surpass the milestone of $150 in the next 30 days. Thereby, marking a rise of 15.88% from the current value. ETH has slipped below $3,500 which was considered its safety net. The token is now at $3,497.86, still poised to surge by 2.56% in the next 30 days for a value of 3,616.83 at the time of writing this article.
There is a positive outlook toward altcoins, especially ETH and SOL. But, momentum keeps shifting to and from Bitcoin with altcoins also under consideration.
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ADA is a token that could enter the reversal mode. That would be a surprise because the next couple of days are marked in red trades. It is only after a month that there could be a potential uptick in its value. Cardano is predicted to rise by 5.50% – ADA is likely to jump to $0.408927 in the next 30 days.
