The fast-paced month of January did not end well, and we can say that February has not started off great either. So, what are the expectations? The current chart outlook for Bitcoin, Solana, and XRP Coin could show us the potential targets to be visited in the coming days. BTC is currently finding buyers at $43,000, and SOL Coin is at $99.4.
Bitcoin (BTC)
BTC’s price is not yet concerned with the net inflow into ETFs, and while GBTC outflows have weakened, they are still at frustrating levels. The ‘sell the news‘ event has settled, but the risk appetite for BTC has not revived. Perhaps we will see this triggered by a few days of impressive net inflows? For now, it is essential to also consider the negativity brought by the Fed.
A positive aspect is that the BTC price has spent very little time below $40,000 and has built a strong buying wall in this region. According to CoinGlass data, another development in favor of the bulls is that historically, BTC’s price has gained an average of 12% in the month of February.
BTC has been fluctuating between $42,365 and the general resistance of $44,700 for days. The 20-day exponential moving average at $42,365 is acting as support for the price. As this gradually increases, the RSI has returned to the positive zone, indicating that the pressure is starting to weaken. If the bulls can overcome $44,700, they may retest $49,000.
In the opposite scenario, a loss of support could lead to a drop towards $37,980 after $41,394 and $40,000.
SOL Coin Price Prediction
SOL Coin bulls, who attempted to eagerly take the $107 resistance on January 30, could not withstand the sellers. They are trying for a new attempt as this article is being prepared. If they succeed, they will complete an inverse head-and-shoulders formation and could target the $134 resistance after $126.
The bears’ main target will be to pull the price below the moving averages and push it towards the key $80 support region mentioned before.
XRP Price Prediction
Ripple (XRP) is facing weak fundamental news support, negative developments due to mass appeals in the lawsuit, shattered ETF dreams, a continuously increasing circulating supply, and the cherry on top being the recent hack exceeding $100 million.
If the $0.51 and $0.53 regions can be surpassed, the movement towards $0.67 may continue. In the opposite scenario, we could see a drop to $0.46.
