Price analysis
Solana Price Eyes $420; Is This the Next Big Breakout?
Published
1 month agoon
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Solana price has experienced fluctuations, mirroring the broader crypto market’s sideways movement. After reaching a recent high, SOL has seen notable volatility. Analysts are now closely monitoring key support levels, predicting a potential breakout toward $420. Market sentiment remains mixed, leaving traders watching for confirmation of the next major move.
Solana Price Primed for a Breakout $420 Coming?
Solana price has shown a familiar pattern, mirroring its previous rally. During the last uptrend, SOL retraced by 50% before pushing toward a 100% extension level. Analysts now observe a similar setup, with early signs of support emerging at the current retracement zone.
If SOL maintains this critical level, projections indicate a potential surge toward the 100% (-1) Fibonacci extension. This level suggests a price target of around $420. Historical trends suggest that previous pullbacks of this magnitude have led to substantial rallies.
The analyst highlights retracement zones that align with past support levels, reinforcing bullish sentiment. Technical indicators indicate a possible breakout, with traders closely watching SOL’s reaction at 50%. If the price holds above this level, the next leg upward could materialize, driving SOL toward its long-term target.
Solana Whale Moves $165M in Mysterious Transfer
Whale Alert reported a 694,746 SOL transfer, worth $165.25 million, between two unidentified wallets on January 31, 2025.
The transaction has sparked speculation. Large crypto movements like this often signal potential market shifts, prompting traders to monitor Solana (SOL) for possible price fluctuations.
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694,746 #SOL (165,250,353 USD) transferred from unknown wallet to unknown new wallethttps://t.co/QQZbDwNSYW
— Whale Alert (@whale_alert) January 31, 2025
Will SOL Price Rally To $260 By Weekend?
As of the writing, the SOL price hovered at $235.26, reflecting a 2% decline over the past trading session. The token faced resistance at $260, while support remained near the $235 level. Despite previous attempts to break higher, SOL struggled to gain momentum, indicating a consolidation phase.
The Relative Strength Index (RSI) stood at 42, signaling neutral conditions with no immediate signs of overbought or oversold pressure. The Moving Average Convergence Divergence (MACD) showed a slight bullish crossover, with the MACD line at 0.67 above the signal line.
On the downside, the Solana price prediction found support around the $235 zone, preventing further declines for now. If this level fails, the next key support is near $200. Conversely, a breakout above $260 could pave the way toward $300.
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Solana remains at a critical level, with traders watching key resistance and support zones. A breakout above $260 could fuel a rally toward $420. However, failure to hold support may lead to further downside risks.
Frequently Asked Questions (FAQs)
Analysts suggest a breakout is possible if key levels hold.
A whale transferred $165M in SOL, sparking market speculation.
SOL faces resistance at $260, with $300 as the next target.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Falling Wedge Pattern Hints $4K Rally as Trump Confirms ETH, SOL, ADA, XRP for Crypto Reserve
Published
17 hours agoon
March 2, 2025By
admin
Ethereum price surged 15%, climbing from $2,200 to $2,550 within a frenetic one-hour period on Sunday, March 2, after Trump confirmed ETH’s inclusion in the official Crypto Strategic Reserve.
Ethereum (ETH) Price Soars 15% as Trump Confirms ETH Inclusion in Crypto Reserve
Ethereum price action came under intense scrutiny over the weekend as markets reacted to Trump’s official confirmation of the much-anticipated Crypto Strategic Reserve.
Notably, Trump had initially omitted ETH from the list of altcoins to be included in the strategic reserve bucket of assets. The announcement, which came around noon in the U.S. trading session, had featured only SOL, ADA, and XRP, sparking concerns that ETH was excluded due to recent network update squabbles and changes in leadership.
“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!
– Donald Trump, via Truth Social, March 2, 2025
Within an hour, SOL, XRP, ADA, and Bitcoin prices all rose by double digits, while ETH remained rooted at the $2,200 level. However, nearly two hours after the initial announcement, Trump issued another post clarifying that both ETH and BTC were also included on the list of assets to be acquired by the United States Treasury.
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Following this clarification, ETH price promptly joined the rally. Within one hour of Trump’s second post, Ethereum surged 15%, moving from $2,200 to reclaim territory above the $2,550 level.
Bulls Establish 80% Dominance in ETH Derivatives Market
Considering that XRP and Cardano have now recorded gains exceeding 20% at press time, ETH could potentially witness further upside, especially as U.S.-based investors holding ETH ETFs could mount major buy orders when markets reopen on Monday, March 3.
Movements observed in the derivatives market show that some strategic traders deployed massive leverage on Sunday in hopes of booking amplified profits if the trading week begins on a positive note, as widely anticipated after Trump included ETH in the Crypto Strategic Reserve.
Coinglass Liquidation Map data, which measures the real-time balance of leverage deployed on active long futures contracts against shorts, shows bulls established significant dominance on Sunday, hinting that the majority of traders are betting on further gains when markets reopen for the week.
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The ETH liquidation map chart above shows that bulls mounted a total of $1.14 billion at press time on Sunday, while short leverage has dwindled to just $333 million. This reflects that bulls now dominate the ETH market, with long leverage exceeding shorts by approximately 70%.
Aligning with the trending news events, it appears short traders are opting to close out their positions early rather than risk bigger losses, as the current ETH price rally has the backing of the United States government.
With the U.S. government set to begin the official process of purchasing ETH, BTC, SOL, and ADA, the current bullish setup in the derivatives market could persist.
Unless another comparable bearish catalyst arises, ETH is poised to face weakened resistance levels as it approaches the $3,000 mark in the week ahead, as implied by the dwindling short positions in the derivatives market.
Ethereum Foundation’s Leadership Shuffle also Lifted Market Sentiment
Another key factor contributing to the positive swing in Ethereum’s market momentum was the leadership change announced by the Ethereum Foundation on Saturday, March 1.
The Foundation appointed Hsiao-Wei Wang, a core researcher with seven years of experience, and Tomasz Stańczak, CEO of Nethermind, as co-Executive Directors. This leadership restructuring aims to enhance technical expertise and improve communication within the Ethereum ecosystem.
Following recent controversies surrounding network updates, this leadership shuffle has lifted investor sentiment ahead of President Trump’s major announcement on Sunday.
ETH Price Forecast: Falling Wedge Pattern Hints $4K Rally Ahead
After intraday 15.72% gains, Ethereum price forecast charts continue to flash bullish signals for a potential rally towards $4,000 as March 2025 kicks off on a positive note.
As seen below, the ETHUSDT 12-hour chart reveals a textbook falling wedge breakout, a historically strong reversal pattern. If confirmed by a decisive close above the upper trendline near $2,500, ETH price could advance further towards $3,000 mark, especially as the 70% bullish dominance in the derivatives market hints weaker resistance clusters at key price levels ahead.
Typically, the falling wedge pattern projects a measured move equal to the height of the formation, with the current target signaling a potential ETH price rally toward $4,000 in the coming weeks.
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The strong bullish candle on the breakout signals robust buying interest, reinforced by increasing volume, confirming the validity of the trend reversal. The price currently hovers around $2,514, with the next key resistance zone near $2,800, which previously acted as a supply zone. If Ethereum clears this level, momentum could accelerate toward the $3,200-$3,400 range, aligning with the upper bound of historical resistance. A sustained move above this threshold would validate the full breakout target near $4,000.
On the flip side, failure to hold above $2,500 could invite selling pressure, potentially retesting the former resistance-turned-support level at $2,300. A break below this threshold might invalidate the bullish setup, opening the door for a deeper pullback. However, given the strength of the breakout, Ethereum bulls appear poised for further gains in the near term.
Frequently Asked Questions (FAQs)
Ethereum soared 15% after Donald Trump confirmed its inclusion in the U.S. Crypto Strategic Reserve, boosting investor confidence.
Ethereum could target $2,800 in the short term, with a breakout above this level potentially driving prices toward $4,000.
ETH bulls control 80% of derivatives market leverage, signaling strong buying interest and reduced short positions, reinforcing bullish momentum.
ibrahim
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bitcoin
Why is Bitcoin Price Going Up? Trump’s Crypto Executive Order Could Spark $150K Rally in March
Published
23 hours agoon
March 2, 2025By
admin
Bitcoin price has rebounded 10% in the last 48 hours, reclaiming territory above $85,000 on Sunday, March 2, after plunging to a 120-day low of around $78,200 on Friday. Key technical indicators suggest BTC could be setting up for a positive start to March 2025.
Why is Bitcoin Price Going Up Today?
Bitcoin surged 10% over the weekend, largely driven by President Trump’s executive order to advance a Crypto Strategic Reserve and investors capitalizing on last week’s overheated market liquidations. The move coincided with the imminent imposition of tariffs on Canada and Mexico on March 1, fueling further demand as traders anticipated BTC’s role as a hedge against macroeconomic uncertainties.
Bitcoin (BTC) Makes $90K rebound as Bulls Buy-in at the Bottom
After shedding over 25% of its value in February, Bitcoin found relief over the weekend as strategic buyers entered the market. The price downturn had reached its lowest point on February 28, plunging to a 120-day low of $78,200.
Trump’s decision to impose tariffs on imports from Canada and Mexico sparked a global retraction of capital from risk assets, leading to double-digit declines in major indices such as the S&P 500, Japan’s Nikkei, and Germany’s DAX in the week leading up to the March 1 tariff implementation date.
Notably, Bitcoin price bottomed out Feb 28, when prices plunged to a 120-day lows around $78,200.
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Market data observed over the weekend shows that strategic investors swooped at the bottom to buy into key assets at the cusp of the March 1 tariff date. Hence, BTC price received a major boost, climbing from 120-day lows recorded on Friday, to close trading for Saturday just above $85,000.
Trump Gives Green Light for Crypto Strategic Reserve
After reclaiming the $86,000 level in early European trading, Bitcoin saw another surge as U.S. President Donald Trump issued an executive order establishing a Crypto Strategic Reserve.
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According to an official announcement on the Trump-owned Truth Social platform, the reserve will initially include Bitcoin (BTC), Solana (SOL), Ripple (XRP), and Cardano (ADA), reflecting a diversified approach to U.S. digital asset holdings. This decision aligns with Trump’s broader pro-crypto stance and signals a formal recognition of digital assets within the U.S. financial system.
Within an hour of Trump’s announcement, Bitcoin surged an additional 3%, briefly surpassing $91,000 at press time on Sunday March 2.
How Will Trump’s Crypto Strategic Reserve Impact BTC Price?
Taking a cue from nations such as El Salvador and Bhutan, which have incorporated Bitcoin into their national balance sheets, many analysts expected BTC to be the exclusive asset in the U.S. reserve.
However, Trump’s decision to include SOL, XRP, and ADA mitigates concentration risk while allowing the U.S. to benefit from the unique value propositions of each project.
Long-Term Gains to Mitigate Short-Term Dip in BTC Market Dominance
By spreading capital across four crypto assets, BTC is expected to see less upside than if it were the sole asset. While this may temporarily reduce Bitcoin’s market dominance, the long-term gains from a stronger, more resilient sector could drive BTC past $150,000 in the mid-to-long term
In the short term, Bitcoin could see a brief pullback in relative market share as capital flows into newly included assets. However, the broader legitimacy conferred by a U.S.-backed reserve is likely to enhance institutional confidence, solidifying Bitcoin’s long-term growth prospects.
BTC Price Forecast: $100K Breakout ahead as SHORT traders fold on Trump’s announcement
After last-weeks bloodbath, Bitcoin price forecast charts are now leaning bullish, with technical indicators pointing toward a potential breakout past $100,000 as short traders face increasing pressure. The 12-hour chart reveals a strong 16.84% rebound in just over two days, with BTC climbing from lows of $78,200 to reclaim $90,558.
This recovery aligns with a surge in trading volume, indicating renewed investor confidence. The MACD indicator has crossed bullishly, with the blue MACD line breaking above the signal line, signaling a shift in momentum.
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As Bitcoin price approaches key suppport levels near $100,000 , Short traders, who capitalized on February’s steep decline, are unlikely to put up strong resistance, considering the current active Bitcoin price catalyst has the backing of the U.S. government.
Although unlikely, a bearish scenario could emerge if BTC fails to close above $88,000, triggering a new wave of liquidations. However, the momentum favors buyers, and with shorts unwinding, BTC could quickly surge past $95,000 before testing the critical $100,000 psychological level.
Frequently Asked Questions (FAQs)
Bitcoin surged 10% after Trump’s Crypto Strategic Reserve announcement boosted demand.
Trump’s executive order established a U.S. digital asset reserve, initially holding BTC, SOL, XRP, and ADA to support the crypto sector.
If bullish momentum continues and short sellers fold, BTC could surpass $100,000, driven by institutional interest and government backing.
ibrahim
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Pi Network
Can Pi Network Price Hit $10 Before March 14 KYC, Mainnet Migration Deadline?
Published
2 days agoon
March 1, 2025By
admin
Pi Network price surged 53% last week, fueling speculation about a rally to $10 before the March 14 KYC migration deadline.
Pi Network Posts Significant Gains as Mainnet Migration Approaches
Pi Network’s price surged 53% last week to open trading at $2 on Saturday, March 1 as excitement builds ahead of the platform’s KYC and Mainnet migration deadline.
In a recent blog post published on Friday, Feb 28, the PI Network team emphasized the current migration window presents the last opportunity for Pioneers to verify their accounts and secure their Pi holdings before unclaimed balances vanish.
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The project’s developers extended the deadline to accommodate inactive users who may have missed previous verification opportunities. They also cited security concerns, stating that large amounts of unverified Pi stored in mobile wallets pose risks now that the Open Network is operational. This deadline is final, with no further extensions planned.
“As part of our ongoing mission to ensure inclusivity, fairness, and maximum participation in the Pi Network ecosystem, the Grace Period has one last extension to 8:00 a.m. UTC on March 14, 2025—the sixth anniversary of the project’s official launch.”
– Pi Network Team, Feb 28, 2025
While previous extensions provided ample time for verification, Pi Network developers insist the migration must conclude to maintain security and decentralization. Those failing to complete KYC by the deadline risk forfeiting unverified balances permanently.
Why Did Pi Network Extend the Migration Grace Period?
Pi Network’s leadership says the extension is necessary to uphold inclusivity and accessibility across its global user base. The decision also aims to reengage early Pioneers who played a critical role in Pi’s initial adoption but became inactive over time. With the Open Network live, renewed interest has prompted the need for one final grace period.
The project cites several key reasons for the extension:
- Reengaging early adopters: Pi Network wants to ensure those who contributed to the ecosystem’s growth but lapsed in activity have a final chance to verify and migrate their balances.
- Ensuring inclusivity: Pi’s mission revolves around offering access to a broad audience, and extending the migration deadline aligns with this principle.
- Addressing verification obstacles: The extension provides a buffer for Pioneers facing difficulties in completing KYC due to regulatory or logistical challenges.
- Strengthening the network: A real, verified, and decentralized network is vital for Pi’s long-term success. Allowing more users to transition to Mainnet ensures a stronger, more robust ecosystem.
Despite these considerations, Pi Network maintains that this extension is the absolute last. The transition must move forward to establish full network functionality without unverified or inactive balances weighing down the system.
What Happens If You Miss the Pi Network Migration Deadline?
Pioneers who fail to complete KYC and migrate their Pi holdings before March 14, 2025, will lose most of their mobile wallet balances. However, Pi Network has clarified that any Pi mined within the last six months before migration will remain accessible.
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This means that users holding older, unverified Pi must take action before the deadline or risk losing their assets permanently. The migration process ensures that only verified users retain access to their balances, aligning with Pi Network’s commitment to maintaining a decentralized and authenticated blockchain.
Can Pi Network Price Reach $10 Before March 14?
With Pi’s price surging 53% last week, moving from its opening price of $1.20 on Sunday Feb 23 before opening trading at $2.10 on Saturday March 1 mark . Speculation is now mounting over PI’s potential to climb towards to the $10 level before the migration deadline.
The market’s reaction suggests growing confidence in the project’s long-term viability, but whether Pi can reach $10 hinges on multiple factors. Market sentiment is also crucial. Increased adoption, successful migrations, and expanding use cases could fuel further rallies.
However, failure to meet migration targets or lingering doubts about Pi’s utility post-Mainnet could dampen bullish momentum. Pi Network price trajectory remains uncertain, but one thing is clear—the March 14 deadline is a defining moment for the project’s future.
Users still holding unverified balances have a narrow window to act before their assets disappear.
Whether Pi’s price continues its ascent or retraces in the coming weeks, the network’s transition to full Mainnet functionality will be a turning point that determines its long-term prospects.
Pi Network Technical Analysis: Close Above $2 Could Spark $10 Attempt Before Migration Deadline
Pi Network price is consolidating near $1.95 after posting a 53% rally over the past week. The chart suggests a key decision point, with technical indicators offering mixed signals on whether PI can sustain its upward momentum toward $10.
The Parabolic SAR, a key trend-following indicator, remains bullish at $1.1446, suggesting that buyers still control the broader trend.
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However, the latest red candlestick near $2 indicates selling pressure, signaling a potential retracement if bulls fail to hold current support levels.
A decisive close above $2 would reinforce bullish momentum, while a failure could see PI revisiting the $1.50-$1.60 range.
Volume analysis shows a recent decline in bullish momentum, with the Volume Delta flipping negative, indicating more sell-side pressure.
If buyers step in to absorb selling, a breakout above $2.50 could trigger a sharp rally, with $3.20 as the next resistance before a potential parabolic surge to $10.
However, failure to sustain above $2 risks a prolonged consolidation phase, delaying any upward breakout ahead of the March 14 migration deadline.
Frequently Asked Questions (FAQs)
Unverified Pi balances will be permanently lost after March 14, but Pi mined in the last six months remains accessible.
Pi’s price surged 53% recently, but hitting $10 depends on technical breakouts, market sentiment, and adoption momentum.
The extension ensures inclusivity, reengages early adopters, and strengthens network security before full Mainnet functionality.
ibrahim
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Aptos Leverages Chainlink To Enhance Scalability and Data Access
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Bitcoin Could Rally to $80,000 on the Eve of US Elections
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Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
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Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
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Crypto’s Big Trump Gamble Is Risky
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Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x
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A16z-backed Espresso announces mainnet launch of core product
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Xmas Altcoin Rally Insights by BNM Agent I
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Has The Bitcoin Price Already Peaked?
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Blockchain groups challenge new broker reporting rule
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Trump’s Coin Is About As Revolutionary As OneCoin
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Ripple Vs. SEC, Shiba Inu, US Elections Steal Spotlight
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Is $200,000 a Realistic Bitcoin Price Target for This Cycle?
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