SOL Coin once again surpassed the $190 mark and, along with the recovery in Bitcoin prices, altcoins turned green. We saw gains in some cryptocurrencies reaching up to 20%. Overall, daily gains exceeding 4% are the result of a rapid recovery in BTC prices and reflect the high volatility in cryptocurrencies.
Solana (SOL)
Sol Coin’s price has surpassed $190, continuing the day with roughly a 13% gain. After falling to the 20-day EMA ($158) yesterday, SOL Coin’s price has strongly rebounded, now targeting $205. The main encouragement for investors at lower levels was the end of the Fed fear, which will now be over until the next meeting (May 1).
For the next approximately 40 days, investors will not feel the pressure of the Fed as much as they did this week. The short-term main risk is that the March inflation data could also come out negative for risk markets. Indeed, this will turn into something that can no longer be explained by the seasonal effect mentioned by Powell a few hours ago.
With closes above $205, SOL Coin could again target the $260 ATH region. However, BTC price performance will significantly affect SOL Coin and other altcoins in the next 12 hours. In the US stock markets, which will open in 13-14 hours, volatility is expected to increase significantly in the first minutes of ETF trading.
XRP Coin Commentary
After the BlackRock ETF turned out to be a hoax, XRP Coin had seen $0.74 again, but the situation reversed with profit-taking. Now, the price has moved away from the $0.58 support and is at $0.61. Gains, which are modest compared to altcoins with double-digit gains, are around 4%.
If we see closes above $0.67, $0.74 could be tested again.
ADA Coin Price Prediction
ADA Coin is at the $0.64 level and has started the day with a 10% increase. ADA Coin’s price, which found support at $0.57, could continue its rise towards $0.68. However, as mentioned in the SOL Coin assessment, the direction of the general market volatility expected to increase in the next 12-14 hours is important.
In the opposite scenario, closes below $0.57 could pull the Cardano (ADA) price down to $0.53.
