Forecasting Bitcoin, Ethereum, and Solana Prices: Insights for the Week Ahead

Are BTC, ETH and SOL Ripe for a Breakout?

Bitcoin and Ethereum have seen a deeper retracement than Solana. SOL bulls might have to wait for sentiment to shift in their favor once more before going long.

Bitcoin and Ethereum Analysis

Bitcoin [BTC] and Ethereum [ETH] saw some of their gains from earlier this month retraced. As the halving approaches, we could see a short-term “sell the event” type of drop in prices before bulls pick up the pieces once more.

• The one-day market structure of BTC was bullish.
• A move below $50.5k would flip it bearishly, while a move above $73.7k would signal a bullish continuation.
• At press time, the $59.4k and $55.5k Fibonacci retracement levels (pale yellow) were important support levels.

AMBCrypto expects that one of these levels would likely be tested in search of liquidity before the uptrend can resume.

Bitcoin Analysis

The RSI showed momentum was neutral and buyers have lost their advantage recently. The OBV also approached a support level in early March, signaling that buyers might not be able to hold prices above the $60k mark.

Ethereum Analysis

Unlike Bitcoin, Ethereum already tested its 78.6% retracement level based plotted based on a recent rally. The drop to the $3160 level saw a strong, quick bullish reaction that drove prices to $3580. Yet it was not enough and the bulls faced rejection just below $3600.

Solana Price Predictions

SOL maintained its bullish strength, although it has also slowed down over the past ten days.

• It hasn’t closed in on the 50% retracement level yet from the previous swing low.
• Although the bulls were unable to climb above the psychological $200, it still suggested bulls had strength.

The $106.9 and $128.8 support levels could still be retested if Bitcoin falls below the $60k mark. However, the indicators do not suggest that such a deep retracement was likely in the coming days.

Conclusion

Overall, all three markets had a long-term bullish bias. A Bitcoin move back above the $73k level appears to be a question of when, not if, given the recent demand. Over the coming months, the losses of the past two weeks could be just a blip.