Cryptocurrency analyst platform Crypto World has conducted an in-depth assessment of price trends for the top cryptocurrencies, Bitcoin, Ethereum, and Solana. The analysis highlights impending breakouts across the trio of assets.
The analyst pointed out that these three coins could potentially surge in the coming days and highlighted the key reasons for that.
Bitcoin (BTC)
Evaluating Bitcoin first, the analyst points to indicators flagging a major move ahead as volatility squeezes precede explosive breakouts historically. News of BlackRock purchasing $45 million worth of Bitcoin could further constrain BTC supply and spark a breakout.
Crypto World also notes bullish technical signs, like Bitcoin holding above its 50-day moving average and the daily Relative Strength Index nearing a resistance breakout. As such, they eye a rally of 20–30% within weeks if Bitcoin pops out of its recent trading range.
Ethereum (ETH)
As for Ethereum, the analyst confirms a bullish triangle breakout has already occurred on its daily chart. The MACD momentum indicator also produced a bullish crossover, signaling positive momentum. However, ETH faces resistance around the $2,400 level before likely challenging the pattern price target near $2,580.
Solana (SOL)
Finally, assessing Solana, Crypto World detects a bearish descending triangle with a breakdown target around $83. However, should SOL withstand selling pressure and break out above $96 resistance instead, an alternate upside target exists around $109. At press time, Solana is trading around $104.8.
So while risks remain ever-present in crypto markets, Analyst Crypto World depicts an overwhelmingly bullish backdrop, with both Bitcoin and Ethereum appearing poised to surge higher soon. Solana’s outlook proves more dubious amid its triangle breakdown threat, though positive momentum may prevail.
However, the bullish momentum can also potentially reverse in the event of any bearish movement in the market.