Cryptocurrencies Price Prediction: Solana, Bitcoin & Ethereum – European Wrap 8 December
Solana Price Forecast: SOL flashes breakout potential on steady derivatives, ETF demand
Solana (SOL) edges higher by almost 5% at press time on Monday after a Doji candle formation on Sunday. Derivatives data indicate a rise in funding rate, signaling reduced incentive for traders to hold short positions. Meanwhile, the Solana-focused Exchange Traded Funds (ETFs) mark their sixth consecutive week of inflows, indicating a steady interest from institutional investors.
Bitcoin and ether shrug off weekend losses
“While last week ended poorly for crypto assets, raising fears of a renewed drop, the new week looks much more positive. While bitcoin spent the weekend below $90,000 and ether stumbled below $3000, buyers took the chance to jump on board, renewing the move higher. This should remind investors that bottoms are processes, not single events. The dip last Monday found buyers, as did the weekend’s losses, and a close back above last week’s high would reinforce the view that a low has formed for the time being.”
Ethereum ‘smart’ whales open $426M long bets as ETH price chart eyes $4K
Ethereum whales have opened massive long positions on Ether, totalling $425.98 million, in what looks like a bold bet that the downside is over.
Data from Cointelegraph Markets Pro and TradingView showed the ETH/USD pair trading at $3,140, 20% above the $2,621 low reached on Nov. 21.
Author
FXStreet Team
FXStreet
