Cryptocurrency investors faced a challenging February, with contrary results to the expected rise in the first quarter. BTC experienced a drop close to $30,000, while altcoins suffered even greater losses. This period aligns with some of the most intriguing days of the recent crypto bull market. The tensions between the EU and the US, as well as between China and the US, are palpable, with the US eager to initiate a significant global trade war.
Predictions for Solana (SOL)
In March, we will either see resolutions or a complete breakdown in negotiations. Currently, the EU, China, Mexico, Canada, and others are taking a more conciliatory stance against the US. Meanwhile, Trump maintains a fierce approach against his opponents while claiming to fight the deep state in the US. We will find out if negotiations will conclude before new tariffs come into effect in April.
March is set to be a decisive period, with significant fluctuations expected in the SOL Coin price. CME plans to launch futures trading for SOL Coin on March 17, which may increase the likelihood of ETF approval and boost spot demand. If SOL futures contracts offer a favorable profit margin for basis trading, we may see substantial increases in spot demand concurrently.
The crucial support level at $125 has been tested. We expect greater volatility in March; if this trend is downward, we could see prices plunge to a range of $60-$80, depending on whether the $98 threshold holds. However, if all goes well, with favorable conditions leading to increased trading and a revitalized Solana $107 network, we may swiftly reclaim $158, followed by targets of $183 and $224, potentially surpassing the all-time high of $296 shortly thereafter.
Predictions for Avalanche (AVAX)
The $22.35 area serves as a significant support level for AVAX. Below this, losses could deepen to $19.58 and $17.3. However, as mentioned in the Solana section, if market conditions improve and negotiations are resolved, we could see the support levels at $26.8 and $32 turning into springboards toward a target of $50.