Cryptocurrencies Price Prediction: Solana, Bitcoin & Ethereum — Asian Wrap 15 Feb

FXStreet Team FXStreet

Solana bulls charge and trap short-sellers, SOL targets a return to $110

Solana price action has not been kind to buyers of late. The most recent retest of the bottom of a range first traded back in late January 2022 near the $90 is a testament to SOL’s weakness. Additionally, the rejection against the resistance cluster near $115 weighed heavily on any near-term bullish outlook. But another bullish bounce is now in play and could signal an end to the current downtrend.

Bitcoin choppy price action continues as sellers eye a return to $40,000 for BTC

Bitcoin price dropped below a critical Ichimoku level on Thursday, February 10, and extended the drop into Sunday, February 13. The pullback completed a necessary and expected return to equilibrium within the Ichimoku Kinko Hyo system. Downside risks remain very real and could be significant.

Ethereum may slide to $2,700 before ETH begins a new uptrend

Ethereum price action has fallen below the Tenkan-Sen at $3,000 and the 50% Fibonacci retracement at $2,900. Participation and momentum have dropped significantly on both sides of the market, but the overall near-term trend is lower. Ethereum price closed below the 50% Fibonacci retracement at $2,900 on Sunday.

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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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