Cryptocurrencies Price Prediction: Solana, Bitcoin & Polygon – European Wrap 24 April


Solana price could crash to $18.50 as SOL participants tanks by 60%

Solana (SOL) price was once primed to be the Comeback Kid for altcoins as traders were looking for the next best thing to put their money in. At the beginning of the year, Solana made the cut for that but has recently seen interest fading. Recent numbers revealed that the number of active wallets had dropped by 60% in the Metaverse, despite several efforts.

Solana price looked to be a safe space for altcoin traders as it appeared to be reasonably immune to the fallout of FTX. With a quick lead recovery, SOL was primed to become the next best thing to invest in next to the majors like Bitcoin, Ether or Ripple. Unfortunately, that pole position is now being removed from Solana as the altcoin is struggling in the Metaverse.

SOLANA

Bitcoin price action from 2019 hints what could happen to BTC in 2023

Today we’re going to be taking a quick look at Bitcoin price and how it plays a major role in directing where the markets go. A repeating price fractal hints that the recent retracement could be setting the stage for a massive bull run for cryptocurrencies.

The conclusion of hash rate wars in 2018 saw Bitcoin price crash from roughly $6,000 to $3,000. This sudden drop formed a local bottom for BTC, which was followed by 107 days of consolidation.

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MATIC price recovery catalysts to watch out for in Polygon ecosystem

MATIC network launched its latest product offering in the zero-knowledge domain on March 27. Since the launch of zero-knowledge Ethereum Virtual Machine’s (zkEVM) beta, projects like Mantis are actively building in the Polygon ecosystem. 

Whale accumulation is an on-chain metric that signals the unified outlook of long-term investors. Accumulation by large wallet investors denotes a bullish outlook and analysts refer to this metric to ascertain the direction of MATIC price trend.

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