Cryptocurrencies Price Prediction: Cardano, Solana & Bitcoin — Asian Wrap 14 November
|Cardano Price Forecast: ADA drops below $0.60 as negative funding rates signal deeper downside ahead
Cardano (ADA) price continues to trade in red around $0.52 at the time of writing on Friday after dropping more than 10% so far this week. The bearish outlook is further strengthened as ADA funding rates turn negative alongside a decline in Total Value Locked (TVL). On the technical side, it supports further correction, with bears aiming for levels below $0.50.
Solana Price Forecast: SOL tumbles to five-month low as ETF inflows and sentiment weaken
Solana (SOL) marks the third consecutive week of losses, dropping over 13% so far this week. The two-week-old Solana spot Exchange Traded Funds (ETFs) in the US have recorded the lowest net inflows ever, suggesting softer institutional demand. Furthermore, the derivatives market sentiment suffers with the broader market correction, resulting in reduced risk exposure to Solana. The technical outlook for Solana remains grim as Solana bears aim for the $125 low from June.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP flash deeper downside risks as market selloff intensifies
Bitcoin price faced rejection at the 38.20% Fibonacci retracement level at $106,453 (drawn from the April 7 low of $74,508 to the all-time high of $126,299 set on October 6) on Monday and declined nearly 6% by Thursday. At the time of writing on Friday, BTC is trading down around $99,300. If BTC continues its correction and closes below the daily support at $97,460, it could extend the decline toward the key psychological level at $95,000.
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.