Price analysis
Will Solana Price Reach $420 During the Festive Season?
Solana price has gained notable momentum since early November, reflecting a strong bullish trend in the cryptocurrency market. Analysts are optimistic, projecting SOL could reach the $420 mark despite minor market corrections. The rally is fueled by Bitcoin surpassing $100K, enhancing market sentiment. With this upward momentum, Solana appears positioned for continued gains, maintaining investor confidence in the Layer 1 blockchain.
Can Solana Price Reach $420 During the Festive Season?
A prominent crypto analyst recently shared an analysis on X post, suggesting a potential price target of $420 for Solana. According to the chart shared in the post, Solana is currently resting on a robust upward trendline, serving as a strong support level.
The analyst pointed out that the price has shown consistent growth over the past months. The trendline indicates that Solana’s bullish momentum could continue as long as this critical support level holds firm. The forecast suggests that breaking key resistance levels might push Solana toward the $420 mark in this festive season, considered the next logical price target.
Solana price gains momentum as Bitcoin approaches the $100K mark, igniting bullish sentiment across the cryptocurrency market. Other altcoins, including XRP, Litecoin, Shiba Inu, and Dogecoin, display bullish patterns, suggesting upcoming rallies.
Bitcoin’s strength could propel altcoins past critical resistance levels, with Solana possibly surging to $420. Additionally, speculation about Solana ETF approvals might further influence SOL’s price. Historically, such news has sparked price rallies before official announcements, potentially driving significant market activity for SOL investors.
Is Solana Price Rally Losing Momentum?
Over the past month, SOL soared by 16%, reaching an all-time high (ATH) of $263.83 on November 23, 2024. However, the cryptocurrency has since retraced, currently SOL price is trading at $237.11. This marks a 10% decline from its ATH.
Within the past 24 hours, the SOL price ranged between $233 and $243, reflecting slight volatility. The daily performance also saw a marginal dip of 0.52%. This adjustment indicates potential market corrections following the recent price rally.
Solana price prediction continues its upward trajectory as bullish sentiment pushes the cryptocurrency closer to its all-time high. Analysts predict that if the positive trend persists, SOL could approach the $420 mark in the coming weeks.
However, a potential bearish reversal could alter this momentum, pulling SOL toward its $230 support level. If the selling pressure is sustained, the price might test the $220 range, challenging its current stability.
According to Coinglass data, Solana derivatives have recorded significant activity in the past trading sessions. The total volume for SOL derivatives surged by 6%, reaching an impressive $7 billion. This growth signals a heightened interest in Solana within the crypto derivatives market.
Additionally, open interest for Solana derivatives climbed by 3%, amounting to $6.13 billion. Open interest, a key indicator of the total number of unsettled futures and options contracts, reflects growing market activity.
Solana’s price outlook remains bullish, driven by strong market sentiment and potential ETF approvals. While challenges like resistance levels and market corrections persist, the $420 target appears achievable if the current momentum holds through the festive season.
Frequently Asked Questions (FAQs)
Yes, speculation around potential Solana ETF approvals could spark further bullish momentum.
The $230 support level is critical, with a potential downside to $220 if selling pressure increases.
Analysts project that Solana could hit $420, driven by bullish momentum and market support.
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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Cardano price has remained in a tight range over the past few weeks as market participants await the next catalyst.
Cardano (ADA) was trading at $0.760, down by 43% from its highest level in December last year. It has underperformed other popular coins like Mantra (OM) and Cronos (CRO) this month.
Cardano has three main catalysts that could propel it to $2 in the coming months. First, there are signs that whales are accumulating the coin in anticipation of more gains ahead. Data shows that whales have acquired over 240 million ADA coins in the past week, valued at over $182 million. The whale purchasing trend appears to be gaining momentum.
Second, Cardano could benefit from the likely approval of a spot ADA exchange-traded fund by the Securities and Exchange Commission. Grayscale Tuttle Capital Management have already submitted applications.
An ADA fund would be a positive development for the coin, as it could lead to more inflows from institutional investors.
Third, data shows that more investors are staking their Cardano coins, signaling that they intend to hold them long-term. The staking market cap has jumped by 8.1% to $16.1 billion, while the yield stands at 2.60%.
Cardano price technical analysis
The other catalyst for ADA price is that it is in the second phase of the Elliott Wave pattern. This phase is characterized by a brief pullback, followed by the third bullish wave — typically the longest.
Cardano has likely completed the second phase and is poised to enter the third wave, which could push it to the psychological level of $2. This target aligns with the 38.2% retracement level and represents a 160% increase from the current price.
Cardano remains above the 50-week Exponential Moving Average and is forming a bullish flag pattern, a bullish continuation signal comprising a vertical line and a flag-like consolidation.
However, this prediction is based on the weekly chart, meaning the pattern could take time to fully develop. The flag section of the bullish flag has already taken more than three months to form.
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Bitcoin (BTC) showed strength over the weekend after a 2.45% rally to the upside. This minor rally aligns with the US stock market’s positive outlook and rising global liquidity, which promotes a risk-on behavior among investors. With the global liquidity index’s Z score flashing a buy signal, Bitcoin price could be set for explosive growth in the near future.
Bitcoin Price Today
Bitcoin price today is up 1.39%, continuing its weekend rally, slowly approaching the $90,000 psychological level. BTC saw a 4.24% gain last week, marking the second positive week after a brutal 15% sell-off in the first week of March.
Odds of BTC Rally Improves as Global Liquidity Explodes
According to data provider Alpha Edge, the traditional Global Liquidity Index is not a great tool to track. However, the Z-score of this metric shows that every time the liquidity index has fallen to -3, it was a strong buy signal. On the other hand, a +3 reading of the Z score is a sell signal. After the early March crash, the Global Liquidity Index flashed a buy signal, suggesting that an explosive uptrend is next for BTC price.
“The Divergence metric between Global Liquidity and Bitcoin has flashed a rare green buy signal. Historically, every green buy or red sell offered a good opportunity to add or sell.”
With abundant liquidity, risk-on behaviour is a must, as seen in late 2021 and 2023, which were followed by periods of exponential rally in BTC price.
Reduced Selling Pressure Points to Bullish Bitcoin Outlook
Adding credence to this outlook is the net Taker Volume indicator that has been reducing since late February 2025. A decline in this metric shows that the selling pressure is dwindling, which further hints at a potential bullish reversal in Bitcoin price trend.
Analyst Axel Adler Jr, who pointed out this outlook, says,
“In the absence of negative macroeconomic or market catalysts, the current week holds potential for moderate growth.”
In conclusion, the two positive weekly closes, coupled with increasing global liquidity and declining taker volume, hint at a bullish Bitcoin price prediction. Let’s explore key BTC levels to watch for when this scenario unfolds.
Key BTC Price Levels to Watch as $1.5B Positions At Risk of Liquidation
Liquidation map data from CoinGlass shows that $87,813 is critical; a BTC price breakout above this could liquidate $640 million worth of short positions. On the contrary, a breakdown below $85,633 will liquidate $942 million in long positions
In total, a spike in Bitcoin price below $85,633 followed by a continuation of the uptrend toward $90K could result in a liquidation event earily worth more than $1.5 billion.
Conclusion
The combination of the Global Liquidity Index’s Z score flashing a buy signal, declining net Taker Volume, and positive weekly closes suggests that Bitcoin price is set for an explosive growth in the near future.
Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist
Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts.
A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise.
Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
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’s price rose 2.6% on Sunday, March 23, crossing the $86,000 mark after a three-day consolidation around $84,000. With growing market optimism following the recent Fed rate pause, speculative BTC traders deployed increased leverage over the weekend. Will BTC advance above $90,000, or will it reverse to $80,000 in the week ahead?
Bitcoin (BTC) Retakes $85,500 After Three-Day Consolidation
After a prolonged consolidation phase, Bitcoin (BTC) made a major recovery bounce on Sunday. Following Trump’s appearance at Blockworks’ Digital Asset Summit, many short-term traders opted to take profits on their BTC holdings.
Despite the decline, Bitcoin continues to find buyers, as the recent U.S. Fed rate pause announced on Wednesday prompted macro-sensitive capital to flow toward risky assets.
Bullish tailwinds from the Fed rate pause counteracted the downward pressure from profit-taking, leading to a three-day stalemate at the $84,000 level since Thursday.
However, as sell-side pressure subsided, BTC price recorded a major breakout above $86,000 on Sunday, March 23. The chart above shows how BTC rose 2.6%, hitting a daily peak of $85,600.
BTC Options Volume nears $800M as Whales Return After Fed Rate Pause
Bitcoin price demonstrated remarkable resilience consolidating around $84,000 over the past three days, as macro-sensitive institutional investors reassess their stance on U.S. economic policies.
Earlier this month, fears of inflationary pressure from Trump’s proposed tariffs triggered a cautious retreat from risk assets, including Bitcoin. However, with recent CPI and PPI reports showing inflation cooling and the Federal Reserve opting to pause rate hikes, large investors appear to be re-entering the market.
This shift in sentiment is reflected in broader financial markets. The S&P 500 surged by 32 points following the Fed rate pause, signalling renewed risk appetite. As Bitcoin mirrors this trend, it has seen a sharp uptick in speculative trading activity from large investors.
Validating this stance, Coinglass derivatives market data shows BTC’s options trading volume skyrocketed 24% in the last 24 hours, pushing total volume above $793 million.
What Does 24% Options Trading Surge Mean for Bitcoin Price Action This Week?
Options trading is a derivatives market strategy that allows traders to bet on the future price movements of an asset without directly purchasing it. This technique is particularly popular among institutional investors and whales because leverage enables traders to control large positions with relatively small capital, amplifying returns, especially during periods of market volatility.
Given that options trading volume surged 24% over the last day, it suggests that whales and institutional investors are taking bullish positions on BTC’s near-term price movements.
Why is BTC Options Volume Rising?
The renewed interest in BTC options trading aligns with key macroeconomic narratives:
- Fed Rate Pause Fuels Risk Appetite – With the Fed pausing rate hikes, liquidity-sensitive assets like Bitcoin become more attractive.
- S&P 500 Rally Indicates Broader Market Confidence – TradFi investors reallocating capital to stocks may also be expanding exposure to BTC.
- Altcoin Season Rotation – With BTC holding steady above $85,000, traders are betting on volatility to capture short-term gains.
Bitcoin Price Forecast: Data Supports Bullish Outlook, But $90K Flip Unlikely
Beyond options trading, other key metrics reinforce a positive BTC outlook for the week ahead:
- Open Interest Rose 3.88% to $54.04B – A sign that new capital is entering the derivatives market.
- Long/Short Ratio at 1.28 on OKX & 1.2217 on Binance – Indicates more traders are placing long bets.
- Liquidations Favor Shorts – Over the last 12 hours, $14.2M in short positions were wiped out, compared to just $2.82M in longs.
With Bitcoin showing strong demand above $86,000 and institutional investors actively positioning through options, a bullish breakout toward $90,000 remains a distinct possibility. However, signals on the daily Bitcoin price forecast charts below suggest the rally could face significant resistance below the $90,000 mark.
Despite these bullish signals, the technical chart presents a nuanced picture. While Bitcoin has reclaimed $85,600, the looming death cross—where the 50-day moving average trends below the 200-day moving average—remains a cause for concern. This bearish formation suggests that unless BTC can decisively break above $87,200, a retracement toward the $80,000 region remains plausible.
Bulls must clear this key resistance zone to sustain momentum toward $90,000. If BTC fails to establish support above $87,200, bears could regain control, triggering a potential pullback.
Frequently Asked Questions (FAQs)
Bitcoin’s bullish momentum suggests it could approach $90,000, but resistance around $87,200 and technical signals indicate potential pullbacks.
Institutional investors and whales are increasing leverage after the Fed rate pause, betting on Bitcoin’s near-term price movement.
The Fed rate pause, stock market trends, and increased institutional activity in options trading are driving Bitcoin’s recent price movements.
ibrahim
Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.
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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