Cryptocurrencies Price Prediction: Dogecoin, Solana & Bitcoin – American Wrap 20 May

Cronos (CRO) ticks lower by 3% at press time on Wednesday, retreating after a 10% surge from the previous day. The short-term fluctuations approach the apex of a falling wedge pattern, which typically results in an upside breakout. 

Solana (SOL) price trades around $140 at the time of writing on Wednesday after rebounding from a key support level the previous day. Canary Capital and Fidelity announced the launch of their spot Solana Exchange Traded Funds (ETFs), SOLC and FSOL, on Tuesday.

Litecoin is up 4% at the time of publication in the early Asian session on Wednesday, joining the wider crypto market in staging a brief recovery from the downtrend over the past three days. However, the fundamentals of the Bitcoin fork have remained cautiously neutral.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) stabilize mid-week after correcting sharply earlier this week. BTC hovers near $92,000 after briefly slipping below $90,000 earlier. Meanwhile, ETH and XRP are defending key support levels, suggesting a recovery in the coming days.

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Bitcoin (BTC) market structure continues to deteriorate as the capitulation phase begins to take shape, with BTC sliding below $97,000 on Friday and extending losses to more than 7% so far this week.