Immutable

Bitcoin ETF

Grayscale Bitcoin Trust

Avalanche

Crypto Price Prediction: The <a href="https://coingape.com/blog/why-is-crypto-market-falling-today/" rel="noopener noreferrer nofollow">cryptocurrency market</a> has maintained a stable posture this week, with the majority of significant coins experiencing little change in their trading patterns. This consolidation period following a notable upsurge in January end indicates that investors are attempting to sustain the higher valuation levels. This strategy could bolster an extended period of recovery shortly.
Furthermore, in the quick update from renowned crypto trader @invest_answers on Day 14 of <a href="https://coingape.com/spot-bitcoin-etf-blackrock-closing-in-on-grayscales-volume/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>, Blackrock’s $IBIT has seen a slowdown in inflows. Despite this, the ETF sector celebrated its fifth-best day with a $200 million net inflow, underscoring strong investor interest. Notably, the Grayscale Bitcoin Trust ($GBTC) recorded its weakest outflow yet, while Fidelity’s Bitcoin Fund ($FBTC) is notably thriving.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;">BITCOIN ETFs Day 14 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> BAD NEWS 1) <a href="https://twitter.com/hashtag/Blackrock?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Blackrock</a> <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> slowed GOOD NEWS 1) ETF's had 5th best day ever 2) $200M net inflow 3) <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GBTC</a> slowed further – weakest outflow to date 4) <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FBTC</a> <a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Fidelity</a> on fire <a href="https://t.co/vesuL0nzBB" rel="noopener noreferrer nofollow">pic.twitter.com/vesuL0nzBB</a>
 — InvestAnswers (@invest_answers) <a href="https://twitter.com/invest_answers/status/1753095284190753081?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 1, 2024</a>
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If the crypto market sparks renewed buying interest, the bullish traders can look for long entry opportunities in Solana (SOL), Immutable (IMX), and Avalanche(AVAX).
<h2 id="b-what-s-ahead-for-solana-sol-as-price-holds-strong-above-100-b">What’s Ahead For Solana (SOL) as Price Holds Strong Above $100</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/b/BVMbvM1O.png" alt="Solana (SOL) Price" width="1946" height="873">
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 Solana (SOL) Price| TradingView Chart
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In a recent analysis by crypto analyst @rektcapital, Solana has shown promising movement, achieving a new 3-day Close above the $98.98 Range Low. This development is particularly significant as it may indicate a strong position for SOL, potentially leading to a bullish weekly close.
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 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>
 The Weekly Close is fast approaching
 In the meantime, Solana has printed a new 3-Day Close above the $98.98 Range Low
 This 3-day Close may be a good sign of <a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SOL</a> maintaining its positioning here for a bullish Weekly Close later this week<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://t.co/lMwcHQQ2P3" rel="noopener noreferrer nofollow">https://t.co/lMwcHQQ2P3</a> <a href="https://t.co/JJ893udSs6" rel="noopener noreferrer nofollow">pic.twitter.com/JJ893udSs6</a>
 — Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1753371388419666129?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 2, 2024</a>
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Furthermore, a look at the daily time frame chart shows that the Solana price is developing into a well-known reversal pattern called inverted head and shoulder. The <a href="https://coingape.com/price/solana/" rel="noopener noreferrer nofollow">Solana price</a> currently trades at 102.3, registering a 29.5% surge within two weeks.
A potential breakout from the pattern’s neckline resistance will accelerate the buying momentum and propel <a href="https://coingape.com/markets/solana-price-prediction-are-sol-bulls-ready-to-shape-the-trend-to-150/" rel="noopener noreferrer nofollow">SOL</a> value 26% up to hit the $135 mark.
<h2 id="b-bullish-pattern-prepares-immutable-imx-price-for-25-surge-b">Bullish Pattern Prepares Immutable(IMX) Price for 25% Surge</h2>
<figure style="width: 100%" class="wp-caption alignnone"><a href="https://coingape.com/immutable-zkevm-launches-on-quicknode-as-its-mainnet-early-access-goes-live/" rel="noopener noreferrer nofollow"><img decoding="async" src="https://s3.tradingview.com/snapshots/x/XUqBGXod.png" alt="Immutable(IMX) Price " width="1946" height="873"></a>
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 Immutable(IMX) Price| TradingView Chart
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<a href="https://coingape.com/immutable-zkevm-launches-on-quicknode-as-its-mainnet-early-access-goes-live/" rel="noopener noreferrer nofollow">IMX</a>, the native token of layer-two scaling solution Immutable recently rebounded from the $1.73 support as the crypto market witnessed eased from post-ETF sell-off. This positive turnaround surged the coin price by 30% within two weeks to currently trade at the $2.21 mark.
In the daily time frame chart this upswing has also developed into a bullish reversal pattern called a double bottom pattern, increasing the likelihood of further recovery.&nbsp;
If the coin price pierces the overhead neckline with a daily candle closing, the buyers may drive a 25.5% upsurge to lead the <a href="https://coingape.com/price/immutablex/" rel="noopener noreferrer nofollow">Immutable price</a> to the $2.9 mark.
The recent jump reclaimed 20-and-50-day EMA offering buyers additional support to sustain the recovery trend.
<h2 id="b-is-avalanche-avax-price-ready-to-hit-50-b">Is Avalanche(AVAX) Price Ready to Hit $50?</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/i/IrRBS7EO.png" alt="Avalanche(AVAX) Price" width="1946" height="873">
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 Avalanche(AVAX) Price| TradingView Chart
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</figure>
In late December, the <a href="https://coingape.com/blog/trending-avax-meme-coins/" rel="noopener noreferrer nofollow">Avalanche</a> (AVAX) coin entered a new correction with its price dropping from 40 to $27.2, marking a stark 45.5% decline. This sharp correction wiped out nearly half of the gains achieved during the bullish rally of the fourth quarter of 2023. Despite this setback, the daily timeframe revealed a positive turn with the formation of a bullish continuation pattern known as a ‘Flag’.
On January 28th, the AVAX price breached the resistance trendline of the flag pattern indicating the last correction assisted buyers in reviving the exhausted momentum.
Currently trading at $35.93, if the <a href="https://coingape.com/price/avalanche/" rel="noopener noreferrer nofollow">Avalanche price</a> showcased sustainability above the breached resistance trendline, the buyers may chase potential targets of $42.2, followed by $50.
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The post <a href="https://coingape.com/markets/crypto-price-prediction-today-february-2-sol-imx-avax/" rel="noopener noreferrer nofollow">Crypto Price Prediction For February 2: SOL, IMX, AVAX</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction For February 2: SOL, IMX, AVAX

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