Cryptocurrencies Price Prediction: Solana, Bitcoin & Ethereum — Asian Wrap 08 Feb

FXStreet Team FXStreet

Solana price hits make-or-break point following 50% gains

Solana price action has seen persistent bullish pressure over the past three trading days. As a result, buyers continue to push SOL higher inch by inch, precisely on top of the single greatest resistance cluster on its daily Ichimoku chart. Sellers could push Solana lower by nearly 30% if resistance holds.

Bitcoin price heads to $48,000 before it encounters stiff resistance

Bitcoin price is coming off of the single most bullish and optimistic weekly candlestick close since the current downtrend (and new all-time high), which began during the week of November 12, 2021. Bulls look to capitalize on last week’s performance and continue moving higher. A successful close above the Ichimoku Cloud sets the stage for new all-time highs.

Ethereum price takes short breather after weekend rally

Ethereum price had a spectacular performance last week, chiefly over Friday and Saturday. The result of an 18% gain saw the high of last week equal the close, creating an exceptionally bullish candlestick while also displaying clear bullish sentiment. Near-term resistance ahead could cause a pullback.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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