Ethereum
Will Bitcoin Halving Lead to $100,000? Ethereum (ETH) Poised to Reverse, Mysterious Solana Price Performance
Arman Shirinian
The market is in correction again, but it could end sooner than expected
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Bitcoin’s upcoming halving event is the main driver of discussion about its future price, with most people expecting $100,000.
The graph shows Bitcoin is currently experiencing fluctuations. If we follow past trends, Bitcoin could show strong growth after the halving. But it is also possible that this growth will not be as strong as before, given the market capitalization and the presence of institutional funds.
Bitcoin/USD chart by TradingView
Currently, Bitcoin is trading around $65,493. It is important to look at the support level at $63,600. It’s like a safety net: if the price doesn’t fall below, Bitcoin could start the bullish reversal again. The next support level is down at $47,474, which could come into play if the price drops further.
For Bitcoin price to reach $100,000, it would need to break through several resistance levels. The first big challenge is around $68,000. If it manages to stay above, Bitcoin could continue to rise and possibly reach new highs.
What does this mean for the future? After the halving, the price of Bitcoin could rise, perhaps even reaching $100,000. However, this might not happen as quickly or as strongly as some hope. It is important to remember that other factors can influence the price of Bitcoin and past price performance does not guarantee a bullish future.
Will Ethereum Reverse?
Ethereum is showing signs that it may be about to change direction following a period of falling prices. The chart indicates that Ethereum is now near the 50-day exponential moving average. This could be a sign that a reversal, where the price starts to rise again, could happen soon.
When we look at the specific numbers on the chart, the 50 EMA sits right near the $3,300 price level. If Ethereum price can stay above this line, it is a good indicator that the price could start to rise. On the other hand, if the price falls below 50 EMA, it could be a continuation of a downward price trend.
Right away, Ethereum the price hovers around $3,324.9. The next major resistance level lies at $3,500. If the Ethereum price can rise above this point, it could be the start of a rally to even higher levels.
In general, the market is doing well, so there may not be too much reason to worry at the moment despite the correction we are seeing. However, Ethereum’s growth drivers for now are primarily Layer 2s and the potential approval of an Ethereum ETF, which will most likely be the only major capital injection Ether will see during this market cycle .
Solana’s strange behavior
by Solana Price movements have been quite mysterious lately. After exiting a pattern known as a symmetrical triangle, which often leads to rising prices, we saw a few days of gains. But then, surprisingly, the price did not enter an uptrend. Instead, we saw a bearish reversal, where the price started to fall again, which was not the most expected sight.
On the map, by Solana the price had broken out of the triangle formation, reaching around $210. However, instead of continuing its rise, it ran into resistance and was unable to maintain its momentum. The price fell back to around $180.59, leaving many traders with losses and a lot of questions.
Looking closer, we can identify the key support level at $148.48, which is a price that could potentially stop further declines and help turn the tide. If the price falls below this level, the next support will be down at $129.67, showing that there is significant room for a potential decline.
On the other hand, if Solana price can regain some strength and start rising again, the key resistance level to watch is around $213 – a price away from the previous breakout.
About the Author
Arman Shirinian
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant utility in the future. Currently, it focuses on news, articles with in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.