SOL ETF

bullish

Bitcoin

Avalanche

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-price-decline" data-wpel-link="internal">Bitcoin Faces Price Decline</a><br></p>
<p style="text-align: justify">Bitcoin (BTC) recently experienced a significant price drop of nearly $4,000 after touching the $70,000 mark. Currently, the price hovers around $67,000. Analysts have linked this volatility to recent market developments. Despite this fluctuation, medium-term projections suggest minimal pressure on Bitcoin, creating a potentially favorable environment for altcoins in the coming months. Key predictions have been made for <a href="https://en.bitcoinhaber.net/ripples-strategic-expansion-in-japan" data-wpel-link="internal">XRP</a>, AVAX, and SOL Coin.</p> 
<h2 id="what-are-solana-s-prospects">What Are Solana’s Prospects?</h2> 
<p style="text-align: justify">Solana (SOL) managed to limit its losses amid ETF news. However, a BlackRock official recently expressed reluctance towards new crypto ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">applications</a>, including Solana. With the final decision on SOL ETF applications expected by March 2025, positive effects on the price could still materialize. Currently trading at $185, SOL has support at $182. A break below this level could lead to a drop to $168, while surpassing $188 could trigger a recovery to $210, sparking a rally towards $256.</p> 
<h2 id="is-ripple-xrp-poised-for-a-rebound">Is Ripple (XRP) Poised for a Rebound?</h2> 
<p style="text-align: justify">Ripple (XRP) shows signs of <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> seeking short-term gains, indicated by long lower and upper wicks. The critical support level for XRP is $0.59, and a drop below this could push the price down to $0.53. To initiate an upward trend, XRP needs to reclaim the mid-area of the parallel channel at $0.64. Surpassing this level could see XRP reaching up to $0.74, though sustained gains remain challenging due to prevalent profit-taking.</p> 
<h2 id="can-avalanche-avax-break-higher">Can Avalanche (AVAX) Break Higher?</h2> 
<p style="text-align: justify">Avalanche (AVAX) maintains its position at $27.3, but bullish efforts have faced resistance. Given Bitcoin’s current weakness, significant upward movement for AVAX remains unlikely without breaking above $29 and subsequently $33. Investors are closely watching these critical levels for potential bullish momentum.</p> 
<h2 id="key-observations-and-strategies">Key Observations and Strategies</h2> 
<p style="text-align: justify">– Solana’s price could benefit from potential ETF approvals, with critical levels being $182 support and $188 resistance.<br> – Ripple needs to reclaim $0.64 to see upward momentum, with $0.59 as a crucial support.<br> – Avalanche’s bulls must break $29 and $33 to achieve significant upward moves.</p> 
<p style="text-align: justify">In summary, while Bitcoin’s recent volatility has impacted the market, altcoins like SOL, XRP, and AVAX have specific levels to watch. Investors should keep an eye on these pivotal points to gauge potential future movements.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-price-decline" data-wpel-link="internal">Bitcoin Faces Price Decline</a></h5>

Bitcoin Faces Price Decline

Inhaltsverzeichnis

BH NEWS

Weitere Artikel, die am 29. Juli 2024 veröffentlicht wurden

WazirX’s recovery plan sparks user outrage and legal action threats

Interest rate cut on horizon: Will it be a boost to Bitcoin?

An overview of current news in the crypto space

Justin Sun pushes China to reconsider crypto stance amid U.S. elections

Bitcoin, gold on track to break out as ‘macro summer’ begins — Analyst

Neiro Meme Coin Developer Makes $2.85m Profit After Apparent Rug Pull

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!