Cryptocurrencies Price Prediction: Solana, Cardano & Crypto – European Wrap 9 April
Solana Price Forecast: ETF outflows and bearish derivatives data reinforce downside risks
Solana (SOL) extends the correction, trading below $82 at the time of writing on Thursday after being rejected from key resistance the previous day. Institutional demand continues to weaken, as SOL spot Exchange Traded Funds (ETFs) recorded an outflow on Wednesday, following the largest single-day withdrawal since their launch. Weakening derivatives data alongside a bearish technical outlook suggest further losses ahead.
Cardano Price Forecast: ADA risks mid-week gains under broader market pressure
Cardano (ADA) is under renewed selling pressure, extending Wednesday’s 4% loss below $0.2500 at press time on Thursday. Intense long liquidations in the ADA futures over the last 24 hours suggest waning bullish interest among traders. Cardano must reclaim the 50-day Exponential Moving Average (EMA) at $0.2672 for extended recovery.
The crypto has pulled back, but has kept its bullish sentiment
The crypto market cap dropped by 1.65% over the past 24 hours to $2.41 trillion, with most actively traded coins also declining. NEAR (+1.1%), Tron (+0.3%), and Bitcoin Cash (−0.5%) are performing relatively better than the market. The day’s underperformers include Algorand (−11.4%), Aptos (−6.1%), and Polkadot (−6.1%).
Author
FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
