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SOL Eyes $200 After 5% Daily Surge, BTC Calms at $95K (Weekend Watch)

Bitcoin’s declining trading volumes continue over the weekend as the asset has produced little to no actual price movements over the past day. The altcoins have recovered some ground from the Saturday correction, with ETH above $3,400 and DOGE aiming at $0.33. BTC Stalls at $95K Last week’s correction erased much of BTC’s price gains charted in December as the asset plummeted to $92,000 on December 21. It managed to bounce off immediately and headed toward $100,000 on a couple of occasions since then = on December 22 and 26 – but to no avail. Each attempt was met with a vicious rejection that pushed the cryptocurrency south by several grand. The last such movement came at the end of the business week, and BTC slumped toward $93,000. It defended that level and jumped to $94,000 yesterday and $95,000 now. This is somewhat expected given the declining trading volumes as of late, which could actually be a blessing in disguise for BTC and other assets if whales continue to make big purchases. For now, though, BTC’s market cap remains well below $1.9 trillion on CG, and its dominance over the alts has been reduced to 54%. Bitcoin/Price/Chart 29.12.2024. Source: TradingView SOL, SUI Recover Most altcoins suffered badly yesterday but have produced some minor increases over the past 24 hours. ETH has climbed above $3,400, XRP is close to $2.2, while BNB continues to defy the market sentiment with a 2.5% jump to $718. Dogecoin has added over 3% of value and stands close to $0.33, while SOL and SUI have gained 5-6%. As a result, SOL now trades above $195, while SUI is north of $4.25. Other notable gainers include HBAR, DOT, AAVE, APT, ICP, and PEPE. The total crypto market cap has recovered about $50 billion since yesterday and is close to $3.5 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post SOL Eyes $200 After 5% Daily Surge, BTC Calms at $95K (Weekend Watch) appeared first on CryptoPotato . Bitcoin.com

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Cardano Price Analysis: ADA Enters Consolidation Phase After 16% Weekly Drop

Cardano is navigating a pivotal price range, bounded by the $0.75 and $1.3 thresholds, with its recent price action underscoring a successful pullback to the previously breached $0.75 support. The outcome of a breakout from this range will likely set the tone for its next significant market direction. Technical Analysis By Shayan The Daily Chart Cardano has recently encountered a rejection at the $1.3 resistance level, triggering heightened volatility and a descending retracement phase. As a result, the price settled at the $0.75 support zone, which coincides with a significant prior yearly swing high and is laden with demand and buying interest. This support has halted further downside momentum, keeping ADA confined within the $0.75-$1.3 range. This consolidation phase suggests a build-up of market pressure, with the potential for a decisive breakout on either side. A bullish breakout above $1.3 would signal the initiation of a sustained uptrend, while a bearish breakdown below $0.75 could result in a significant liquidation cascade, pushing the price toward lower support levels. The 4-Hour Chart On the shorter timeframe, Cardano’s price action has been shaped by a descending wedge pattern, a formation that often indicates a potential bullish breakout if the upper boundary is breached. Currently, the asset is hovering around the wedge’s lower boundary, near the $0.75 support zone, where increased buying interest is evident. This area is further reinforced by the critical 0.5 ($0.82)-0.618 ($0.7) Fibonacci retracement levels, solidifying it as a formidable barrier against further selling pressure. In the mid-term, ADA is anticipated to continue consolidating within this wedge pattern while maintaining its position above these key Fibonacci levels. A bullish breakout from the wedge could pave the way for an advance toward the $1.3 resistance. Conversely, a bearish breakdown below the wedge’s lower boundary might trigger a deeper decline, with the $0.5 threshold emerging as the next significant support level. The post Cardano Price Analysis: ADA Enters Consolidation Phase After 16% Weekly Drop appeared first on CryptoPotato . Bitcoin.com