Markets, which have been experiencing dull days for months, truly deserved to see a real breakthrough. However, there is a problem. Both due to the summer season and the FUDs like MtGox suffocating the markets, investors are quite overwhelmed. Therefore, if we see a breakthrough, it will likely surprise many investors, at least in terms of timing and speed.
What Will Be the Price of Ethereum (ETH)?
Spot ETH ETF listing occurred, but we see a performance similar to the BTC ETF in January. On July 24, the price fell below the moving averages and then deepened its decline. Now the RSI is recovering to the midpoint, and if it fails, ETH may set its sights on $3,000 again.
However, if the obstacle at $3,563 is overcome, the next major obstacle will be $4,094. Then we might see the ETH price approaching $5,000 after years. This will also be motivating for the general altcoin market.
BNB Coin Commentary
Today, it fell behind SOL Coin in the rankings, making Solana (SOL) the fourth-largest crypto. Both quickly diverged positively during the interim rallies of the past few months. In fact, BNB Coin surpassed $720, setting a new all-time high. On July 25, the price fell below the EMA20 level of $570 but was met by buyers.
$635 is a strong resistance here, and if surpassed, the ATH point of $722 can be targeted again. However, if the price falls and closes below $550, sales could continue down to $495. Thus, the fluctuation continues in a boring range with $635 as the ceiling and $495 as the floor.
Solana (SOL)
After the FTX collapse, SOL Coin came back from the brink of death but made a truly unique comeback. It did not have an easy path from $8 prices to over $200 in the 2024 peak. The SOL Coin price recently bounced from the downtrend line and is trying to maintain this position. SMA20 at $163 is supportive, and the RSI indicates that the bulls have the advantage.
If the expected scenario occurs, we will see a breakout above $189, extending the rally to the main target of $210 resistance. However, if the resistance cannot be overcome, sales could deepen towards $163 and $149.
