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As of writing, it is 14:37 US time and the SEC’s official decision on the ETF approval is expected in 3-3.5 hours. The excitement is at its peak, but not everyone is a Bitcoin investor. We are taking current price predictions for those eagerly waiting in altcoins. Additionally, the latest prediction from the Binance CEO is fueling the FOMO.
Binance CEO’s Prediction
The new Binance CEO, CZ, is not as exciting to the community. However, it would be unfair to overlook the effort he is making. He recently made a post that fueled the excitement for a spot Bitcoin ETF by comparing it to the era of Gold ETFs.
If Spot Bitcoin ETFs are approved and really see the expected interest, we could witness massive growth similar to the example of Gold. Teng wrote;
“Did you know that the first Gold ETF was approved in November 2004 when the gold price was $700? The gold price then rose over the next 7 years, reaching $2,450 in 2011. This is not financial advice.”
Altcoin Price Predictions
While approval for Spot Bitcoin ETFs is almost certain, we need to look at the critical regions in altcoins. Yes, BTC interest is high, but if ETF volumes are as strong as expected, this could mean altcoins may also increase after BTC makes its local peak. Let’s discuss the current key regions of 3 popular cryptocurrencies.
Solana (SOL)
The 20-day EMA ($96) has flattened, and the RSI is near the neutral zone. Bears are targeting a close below the uptrend, and if successful, we could see a drop to $67. Alternatively, if the price rises, it could target $117.
Ripple (XRP)
Ripple Labs announced it would buy back company shares for over $200 million, reaching a valuation of $11 billion. XRP Coin didn’t react much, but there is still hope for closes above $0.54. If the price loses this support, XRP could drop to $0.5. In a bullish scenario, targets of $0.67 and $0.74 are present.
Avalanche (AVAX)
The AVAX/USDT pair faces a risk of dropping to $31. If support breaks, the target of the following formation is $26. Conversely, it could struggle to surpass $38. In this case, it will try to exceed $50 again.
