Cryptocurrencies Price Prediction: Solana, Bitcoin & Monero — Asian Wrap 06 February
|Solana Price Forecast: SOL sell-off intensifies as BTC drops to $60,000
Solana (SOL) price extends its correction, slipping below $70 on Friday after posting losses of over 23% so far this week. The sell-off was fueled by broader weakness in the crypto market, with Bitcoin (BTC) reaching a low of $60,000 on Friday. The derivatives data shows signs of weakness, with SOL’s Open Interest (OI) dropping to mid-April levels. On the technical side, the outlook is bearish, with bears targeting a deeper correction to $60 for SOL.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP sink to multi-month lows
Bitcoin's price has crashed by more than 15% so far this week, after correcting by 11% the previous week. As of writing on Friday, BTC has reached a low of $60,000, a level last seen in mid-October 2024. If BTC continues its correction, it could extend the decline toward the weekly support at $54,800.
Top Crypto Losers: Monero, Zcash, and Jupiter lead losses as Bitcoin floors $60,000
Monero struggles below the $300 area at press time on Friday, following Thursday's 23% decline, which formed a bearish Marubozu candle. The privacy coin remains well below the 50-day Exponential Moving Average (EMA) at $454 and the 200-day EMA at $385, reinforcing a bearish setup.
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