Crypto Market Analysis: Bitcoin, Ethereum, and Solana Price Prediction For This Week

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Analyst Crypto World has opened up about the current state of Bitcoin, Ethereum, and Solana. The analyst discussed the key technical indicators and potential scenarios for each cryptocurrency.

Bitcoin

Bitcoin’s price bounces between $37,900 and $38,500 from a crucial support level. The analyst pointed out a bearish divergence still present on the daily chart, as the Relative Strength Index (RSI) has not yet broken above a descending resistance line. However, the possibility of a bullish reversal is hinted at by the potential formation of a bullish cross in the daily MACD (Moving Average Convergence Divergence).

While the bearish divergence is technically active, the analyst expressed neutrality in the short term. In the immediate short term, the 2-hour Bitcoin chart displayed a breakout above resistance levels between $41,700 and $42,200. The analyst expected support in this range and warned that a confirmed break below $41,700 could lead to a potential downturn toward $39,500.

Ethereum

The analyst observed that Ethereum Price is still under a bearish divergence on the daily chart. Despite this, the daily MACD indicated a reduction in bearish momentum, suggesting a more neutral outlook in the short term.

On the 4-hour chart, the analyst identified a potential short-term bullish scenario, comparing the current price structure to a historical fractal. The possibility of a slight bullish relief or sideways consolidation was mentioned, with a watchful eye on potential outflows from Grayscale influencing the market.

Solana

The Solana price analysis focused on the 8-hour timeframe, where the price encountered resistance around $98 to $99. The analyst pointed out potential resistance levels at $102.50 and $108 to $109. A breakout above $99 and a rejection at $102 to $103 could lead to an inverse Head and Shoulders pattern, indicating a bullish trend reversal. Support levels were identified at $91 to $92 and $83.50 to $85.50.