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As with most weekends, trading volumes have dropped, but this time the decrease in volume has favored the crypto bulls. Bitcoin (BTC) has made a peak close to its January 11 high and is now struggling to maintain above $48,000. What’s the latest on altcoins? We’re taking a look at the current predictions for ETH, XRP, and SOL Coin.
Bitcoin (BTC)
There’s been one price region we’ve been watching for a long time, and that’s $40,400. The BTC price briefly dipped below this area with a sell-off event but didn’t linger there for long. We were discussing how the growing buy wall in the support region and reluctance against deeper lows could trigger a quick rebound.
BTC has bounced back and is now targeting $50,000 after closing above $44,000. If this weekly close remains above $45,000, we may see a continuation of the uptrend. However, the current sentiment suggests we could see a new peak beyond the January 11 high before the day ends. The key region is $48,700, and this barrier needs to be quickly overcome.
Ethereum (ETH)
2024 could be the year Ethereum’s star shines brighter. Network data is strong, an ETF decision is a few months away, and transaction fees with Dencun will drop by 90% for L2 solutions. In addition to all this, there are unique reasons for optimism within the crypto space.
ETH price has more upside potential as long as it stays above $2,363. However, it now needs to consolidate above $2,500. If it can reclaim the $2,700 level, which has previously triggered major sell-offs, the rise could continue up to $3,028 and $3,577.
XRP Coin Price Prediction
Continuing to linger below the parallel channel, XRP Coin seems to be ignoring the general market performance for now. Collective appeals, potential precedent security decisions in other SEC cases, increasing circulating supply, and several other reasons are dampening investor appetite for risk.
XRP Coin price could start a rise to $0.68 if it reclaims the $0.55 and $0.58 levels. Otherwise, the targets are $0.46 and $0.41.
Solana (SOL) Price Prediction
SOL Coin has yet to deliver the expected performance to continue its December rally. Reclaiming $107 is crucial, but closing above $111 and $121 is necessary for sustained momentum. A scenario where a sudden sell-off drives the price below $80, leading to a period of sideways movement, is not out of the question. Current attempts might be the last opportunities for gradual profit-taking.
SOL Coin must now make the strong breakout that is expected of it.
