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Cryptocurrencies Price Prediction: Ethereum, Bitcoin & SUI – American Wrap 20 February

Bitcoin and Ethereum compete for DeFi liquidity, while Solana faces rug pulls

Solana (SOL) is down over 40% from its peak of $295.83, trading to $172.98 on Thursday at the time of writing. The Ethereum competitor led Bitcoin bull market gains in 2024. However, recent developments have eclipsed the gains in the SOL ecosystem. 

Sui Price Forecast: SUI technical outlook hints at a possible double-bottom formation

Sui (SUI) price action hints at a double-bottom technical formation, which tends to be followed by a bullish move. The Coinglass long-to-short ratio for SUI stands above one and rises, indicating more traders are betting for a rally in SUI.

Bitcoin Price Forecast: BTC consolidation continues as market prepares for the next major move

Bitcoin (BTC) has been consolidating between $94,000 and $100,000 since February 5. Glassnode reports weakening capital inflows and declining derivatives activity, with short-term holder accumulation resembling challenging market conditions. 

 

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