Cryptocurrencies Price Prediction: Bonk, Bitcoin & Ethena — Asian Wrap 04 August
|Solana-based Crypto: Bonk, Pudgy Penguins, SPX6900 brace for further recovery as bearish momentum fades
The broader cryptocurrency market begins the week on a bullish note, with meme coins based on the Solana (SOL) blockchain poised for a trend reversal. Bonk (BONK), Pudgy Penguins (PENGU), and SPX6900 (SPX) edge higher to extend the Sunday gains as bearish momentum fades. BONK edges higher by over 4% at press time on Monday, extending the nearly 5% gains from Sunday. The reversal run in BONK holds dominance above the 50% retracement level at $0.00002350, drawn from $0.00006230 on November 20 to $0.00000886 on April 7, targeting the 61.8% Fibonacci level at $0.00002958.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, XRP stage recovery after recent declines
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have recovered slightly and are now steady at around $114,000, $3,500, and $3, respectively, as of Monday's writing. These top three cryptocurrencies by market capitalization had corrections of nearly 5%, 10%, and 9% in the previous week, with the broader market sentiment remaining mixed. Technical indicators hint at possible short-term relief rallies if current supports hold.
Top Crypto Gainers: Ethena, Conflux, Stellar signal bullish reversal with double-digit gains
Ethena held above the $0.50 psychological level with a nearly 14% surge on Sunday. At the time of writing on Monday, ENA edges higher by over 2%, advancing towards the previous week’s high at $0.66, as the Relative Strength Index (RSI) reads 62 on the daily chart, suggesting significant bullish momentum.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.