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COINTURK NEWS > Technical Analysis > Crypto Market Trends and Predictions
Technical Analysis

Crypto Market Trends and Predictions

In Brief

  • Bitcoin faces more decline as it loses $64,000.

  • Uncertainty persists despite long-term bullish trends.

  • Solana and Binance Coin show varied market movements.

COINTURK NEWS
COINTURK NEWS 1 year ago
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The cryptocurrency markets, struggling with numerous issues, face increased risk of further declines as BTC loses $64,000. It is unclear whether the recent drop is a liquidity hunt or preparation for deeper lows. Let’s now consider the current trends for Bitcoin investors and examine the latest charts for SOL and BNB Coin to make end-of-month predictions.

Contents
Bitcoin (BTC)Solana (SOL)Binance Coin (BNB)

Bitcoin (BTC)

BTC has been setting new ATH levels frequently, leaving investors puzzled over the calm prices for about a month. However, the current consolidation period is not much of a surprise for experienced investors. According to a Santiment report, wallets holding between 1,000 and 10,000 BTC have accumulated 266,000 BTC since the beginning of 2024, and they have not been dumping these on exchanges.

Analysts remain bullish in the long term, but short-term uncertainty continues. Fidelity Digital Assets believes that Bitcoin is no longer “cheap” and has reached its fair value. However, other experts argue that the price should be over $74,000 post-halving.

Chris Kuiper, research director at the investment firm, said we have reached the midpoint of the BTC cycle and Fidelity has shifted its rating for BTC from positive to neutral, indicating expected short-term negativity.

Solana (SOL)

The price quickly retreated from $162 and has now also lost the critical $150 region. SOL Coin may continue to be trapped between $162 and $126 for a while longer. However, if bulls manage to close above $162, the downturn could end, and the pre-ATH resistance of $205 could be targeted again.

What happens if the $126 support is lost? New lows between $100 and $80 could be expected. Yet, with closures above $80-85, SOL Coin may continue its upward trend as a result of the rapid rise.

Binance Coin (BNB)

Here too, after a sharp drop from $635, there is a risk of pulling back to $495. However, the BNB Coin price continues to linger around $610, much less affected by the general market downturn. If BTC’s recent drop is merely a hunt for long positions, closures above $635 could lead to new ATH levels at $692 and $775.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 25 April, 2024 - 1:03 am 25 April, 2024 - 1:03 am
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