Help with my assignment!
Read Time:2 Minute, 11 Second

The post Here’s What Next For Bitcoin, Ethereum and Solana In Coming Week appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Pseudonymous trader Capo to his 323,500 twitter followers says that demand for bitcoin at $28,000 is nearly exhausted as BTC bears to continue to stack massive sell orders above $29,000. 

A closely tracked crypto strategist who builds a following with his bearish calls says it is almost time for leading digital asset Bitcoin (BTC) to ignite another huge sell-off event. Stating:

“That’s 5,000 BTC there. Demand is gone. When $28,000 is tested again, we could see bulls capitulating.” 

Capo further highlights that the Bitcoin support around $28,000 seven times in a little over two weeks, suggesting the key level is poised to collapse. 

Bitcoin

Capo recently predicted Bitcoin will likely bottom out between $23,000 and $21,000, whereas Bitcoin is changings hands for $28,988.

Ethereum

Considering the top altcoin Ethereum, Capo warns that ETH should take out support at $1,700, which can nosedive to as low as $1,000. The analysts note that Ethereum saw massive amounts of exchange inflows over the last week, indicating bearish. Whereas Ethereum is trading at $1,731 currently, down more than 11% in the past seven days.

It’s not all Bearish Indicators for the king crypto as both it and leading smart contract platform Ethereum (ETH) are dipping into the “historic buy zone,” according to Santiment. ETH was valued at $1,779 at the time of writing. 

Solana

Capo further considering the fellow smart contract platform Solana, says it is at risk of losing half of its value if it takes out support at $40. “SOL. $20-$25 key support.” 

The trading volume rose over 91% month-over-month on the Solana blockchain after NFT trades generated close to $300 million. Notably the number of UAW connected to Solana dapps increased 58% from March and has Surpassed 100,000 daily UAW for the first time. 

Solana’s second most used dapp and its most popular NFT marketplace, attracted 15% more wallets than the previous month. From where the demand for Solana-based NFTs kept growing. Solana is currently holding the value of $42.08.

RUNE

Further, Capo is also eyeing a decentralized exchange protocol, THORChain (RUNE). The cry[to strategist says, RUNE has broken below its diagonal support and is now en route to his target at $1.79, which is nearly below its current price of $2.50. 

One thought on “Here’s What Next For Bitcoin, Ethereum and Solana In Coming Week

  1. Not financial advice.

    I have seen many people compare the crypto market to a casino or lottery system. With the lottery it is based on randomness and odds. Similarly, casinos are rigged to let most people lose, hence ” the house always wins. ”

    In crypto there are a variety of factors that determine the flow of the market or the worth of a coin. There is a speculative element that can be compared to gambling but even that isn't the same.

    If you're one of those people that gets your advice from YouTubers, influencers, and you generally aren't good at reading patterns or larger sentiment then you'll find yourself in hot water very quickly.

    My advice, learn to read patterns. Why is something valuable, or why do people perceive it to be? Are there development teams competing in that area? What is the latest trend that hasn't caught on yet but is being mentioned enough to not be a total coincidence? These are some questions. Read enough and eventually patterns start to reveal themselves. You'll be surprised at how good your own mind is at detecting patterns rather than some influencer trying to take you to the cleaners.

Leave a Reply

Your email address will not be published.

  • bitcoinBitcoin (BTC) $ 19,475.02
  • ethereumEthereum (ETH) $ 1,329.51
  • tetherTether (USDT) $ 1.00
  • usd-coinUSD Coin (USDC) $ 1.00
  • bnbBNB (BNB) $ 282.54
  • xrpXRP (XRP) $ 0.484222
  • binance-usdBinance USD (BUSD) $ 1.00
  • cardanoCardano (ADA) $ 0.436466
  • solanaSolana (SOL) $ 33.86
  • dogecoinDogecoin (DOGE) $ 0.060512