Cryptocurrencies Price Prediction: Ethereum, Solana & Crypto – European Wrap 5 December
Ethereum Price Forecast: ETH strengthens against BTC post-Fusaka, targeting $3,200 breakout
Ethereum (ETH) swells over 1% at press time on Friday, extending its struggle at the confluence of the local resistance trendline and an overhead supply zone. The demand for the major altcoin is on the rise after its Fusaka upgrade on Wednesday among large wallet investors, strengthening it against Bitcoin (BTC) in the short term.
Solana, XRP, ETH extend losses as Bitcoin’s $91K support back in focus
Bitcoin hovered around $92,000 on Friday after another failed attempt to break above $93,000 overnight, extending the choppy, directionless structure that has defined the past several sessions.
The move reinforces the same pattern that has held since late November of sellers defending the mid-$93,000s, buyers stepping in near $91,000, and neither side gaining enough momentum to establish a clear trend.
Bear market rebound in crypto is likely to continue
The crypto market capitalisation fell by 1% to $3.14 trillion over the past 24 hours, retreating from local highs but maintaining a relatively optimistic mood. Among the popular coins for the day, Zcash is once again in the lead, adding 10% and exceeding $400, while XRP loses 3.6% to $2.09. However, we still classify this as a rebound from oversold conditions, with doubts about the ability to renew October highs in the next couple of years. We also saw attempts to push the market up at the end of 2017 and in 2021. The capitalisation of the crypto market reached new highs during these pre-New Year rallies, but this is a dangerous game in which one needs to choose instruments more carefully than usual.
Author
FXStreet Team
FXStreet
