Cryptocurrencies Price Prediction: Solana, Bitcoin & BONK – Asian Wrap 19 May

FXStreet Team FXStreet

Solana Price Forecast: SOL flashes bearish signals, risks double-digit crash

Solana (SOL) price shows early signs of a potential breakdown as it trades lower at $165.40 on Monday. SOL is approaching a key support level that could determine its next major move. Technical indicators flash red, and bearish sentiment intensifies, with short positions hitting a monthly high. If SOL closes below its critical support level, the selling pressure could accelerate, potentially driving the token into a double-digit decline toward the $141 mark.

Top 3 Price Prediction: BTC, ETH and XRP breakout or fakeout? Momentum tools flash weakness

Bitcoin (BTC) trades slightly lower on Monday after breaking above key resistance at $105,000 on Sunday, raising concerns of a potential bull trap. Meanwhile, Ethereum (ETH) and Ripple (XRP) hold near crucial support levels; a decisive close below their support levels could trigger a deeper correction. Moreover, these top cryptocurrencies' momentum indicators flash weakness as the broader crypto market enters a phase of consolidation and waning bullish strength.

BONK price slides despite partnership with DeFi Development Corp to launch Solana validator

BONK declined 4% on Friday despite an announcement from DeFi Development Corporation that it has entered a validator partnership with the Solana meme coin to expand its business and grow its SOL Per Share value. Solana treasury-focused firm DeFi Development Corporation has partnered with meme coin BONK to co-launch a Solana validator, according to a press release on Friday.

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