Cryptocurrencies Price Prediction: Solana, Official Trump & Decred — Asian Wrap 6 November

FXStreet Team FXStreet

Solana Price Forecast: SOL rebounds as retail demand resurfaces, ETFs hold steady

Solana (SOL) trades above $160 at press time on Wednesday, holding steady after 4% rise on the previous day, underpinned by the broader market recovery. Corroborating with steady institutional demand, the retail demand is resurfacing, suggesting further gains for Solana. However, the declining stablecoin liquidity on the Solana network could risk lower on-chain demand.

Official Trump Price Forecast: TRUMP extends rally as whale activity and bullish momentum strengthen

Official Trump (TRUMP) price continues its upward trajectory, trading above $8.32 at the time of writing on Thursday, building on a 16% rally from the previous day. On-chain and derivatives data paint a bullish picture as whale accumulation, buy dominance, and positive funding rates strengthen investor confidence. Meanwhile, momentum indicators suggest that TRUMP’s bullish run could extend further in the upcoming days.

Top Crypto Gainers: Decred, Internet Computer, and Quant rebound to key resistance levels

Decred has recorded over 120% gains so far this week as the broader market experienced a capital rotation towards privacy coins. At the time of writing, Decred trades at above $40, struggling to surpass the $50 psychological resistance zone. The reversal from $50 risks breaking below the local support trendline on the 4-hour price chart at $40, which is formed by connecting the lows of Monday and Wednesday. A decisive close below $40 could extend the decline to Wednesday’s low at $28.50.

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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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