Ethereum

Cryptocurrency

World

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-btc-ethereum-eth-and-solanasol-price-prediction-for-this-week/">Bitcoin (BTC), Ethereum (ETH) and Solana(SOL) Price Prediction For This Week</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As a new week unfolds, fresh candlesticks ignite the ongoing scrutiny of Bitcoin’s price trajectory. <a href="https://www.youtube.com/watch?v=rBi-YVTidiY">Cryptocurrency analyst Crypto World</a> has brought attention to major price shifts in Bitcoin and Ethereum, offering details into pivotal levels and emerging market signals.</p> 
<p>Starting with Bitcoin, Crypto World explained the importance of a recent retest of a crucial support level in the short term. Bitcoin’s price is currently hovering within a range, with support around $61,000 to $62,000 and resistance between $65,000 and $66,000. Notably, Bitcoin is experiencing a lack of momentum, indicating a sideways trend.</p> 
<h2 class="wp-block-heading" id="h-impact-of-etf-outflows-on-bitcoin">Impact of ETF Outflows on Bitcoin</h2> 
<p>Regarding the impact of Bitcoin ETFs on market dynamics, Crypto World discussed significant net outflows from these ETFs over three consecutive days, totaling approximately $421.8 million. These outflows are considered bearish as they involve selling spot Bitcoin to gather US dollars, potentially influencing short-term price action.</p> 
<p>Technical analysis revealed a short-term bearish pattern, a rising wedge, which previously indicated a price target of around $62,500. Bitcoin recently reached this target, and it is encountering support of around $62,000. However, a break below $62,500 could lead to further downside towards $60,000.</p> 
<p>On the positive side, a potential bullish divergence pattern emerged in the 2-hour timeframe, suggesting reduced bearish momentum. If confirmed, this pattern could lead to short-term bullish relief.</p> 
<h2 class="wp-block-heading" id="h-potential-for-breakthroughs-for-ethereum-and-solana">Potential for Breakthroughs For Ethereum and Solana</h2> 
<p>In Ethereum’s analysis, Crypto World hinted at the retesting of a critical resistance level around $3,350. Ethereum’s price is currently consolidating within a range, with support at $3,100 and resistance between $3,250 and $3,300. A breakout above $3,250–$3,300 could signal further upside towards $3,590, supported by a potential cup and handle pattern.</p> 
<p>Solana’s price analysis also revealed a sideways trend within a range, with support around $120 to $128 and resistance between $150 to $155. Solana’s short-term momentum remains neutral until a breakout occurs.</p>

Bitcoin (BTC), Ethereum (ETH) and Solana(SOL) Price Prediction For This Week

Table of Contents

CoinPedia News

Other articles published on Apr 29, 2024

South Korea to Form Crypto Investigative Unit: Report

BRICS: $260 billion in trade without a single dollar

BREAKING: Coinbase Announces It Will List a New Surprise Altcoin!

The Virtual World Where Imagination Becomes Reality

Generative AI Transforming South African Business Landscape

High Hash Rate Leads Solo Miner to $195K Bitcoin Block Reward

Join our free newsletter for daily crypto updates!