Cryptocurrencies Price Prediction: Solana, Bitcoin & Pi Network — Asian Wrap 29 October
|Western Union to launch USDPT on Solana amid high ETF demand, network throughput
Solana (SOL) secures a partnership with Western Union, one of the world’s largest remittance networks, on Tuesday. The institutional backing for Solana is increasing as the Bitwise Solana Staking Exchange Traded Fund (ETF) (BSOL) records $56 million in trading volume on its listing day. At the same time, the US Securities and Exchange Commission greenlights the Grayscale Solana ETF (GSOL).
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP struggle below key resistance levels
Bitcoin price retested and was rejected from the 78.6% Fibonacci retracement level at $115,137 on Monday, and declined slightly the next day, falling below the 50-day Exponential Moving Average (EMA) at $113,317. At the time of writing on Wednesday, BTC is trading down around $112,400, nearing its ascending trendline. If BTC finds support around the ascending trendline, recovers, and closes above $115,137, it could extend the rally toward the key psychological level at $120,000.
Top Crypto Gainers: Pi Network, Aerodrome Finance, Official Trump rally toward breakout levels
Pi Network edges higher by 5% at press time on Wednesday, extending the uptrend for the seventh consecutive day. The recovery run in the mobile mining cryptocurrency is fueled by the recent mainnet migration and the rumors of potential ISO20022 certification to compete with Ripple and other cross-border payment tokens. A decisive close above the 50-day EMA at $0.2619, which has previously provided multiple bearish reversal points, would confirm a renewed uptrend. If this happens, a breakout rally could test the $0.3220 level, marked by the August 1 low, followed by the 100-day EMA at $0.3384 and the $0.4000 round figure.
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