Eyes for $3.5, Solana (SOL) 45% Pump Might Be Just Getting Started

With a recent breakout above a crucial resistance level near $102,000, Bitcoin continues to gain momentum. While this move suggests the asset is strong again, an important test remains as Bitcoin approaches a crucial psychological and technical barrier at $105,000.

A favorable macroeconomic environment and rising trading volumes have helped Bitcoin maintain its upward trend over the past week. BTC reclaims the 50, 100, and 200 EMA on the daily chart, indicating that the uptrend is still in place. With an RSI of 63, the market is showing moderate strength but still has room to rise before reaching overbought territory. The $105,000 mark constitutes a formidable obstacle.

In order to maintain its current rally, Bitcoin must decisively break through this strong resistance level which is consistent with previous chart highs. The market could reach $110,000, a level not seen since the start of the last significant rally if this breakout is successful. A retracement with support levels at $98,000 and $95,000 could occur if the price fails to surpass $105,000.

These levels that were once important resistance now serve as strong support zones that could reduce Bitcoin’s downside risk. As BTC’s recent price action suggests growing interest from institutions and individuals, overall market sentiment remains cautiously optimistic. In the medium term, the macroeconomic environment that anticipates a slower rise in interest rates contributes to the optimistic outlook for Bitcoin.

The most important level for traders and investors to watch is the $105,000 mark. Heavy volume combined with a clear move above this zone could support the bullish argument for Bitcoin and pave the way for future gains. Failure to hold above $105,000, however, could indicate a brief halt to the rally.

XRP prevails

After its recent breakout above $3, XRP continues to demonstrate its dominance in the cryptocurrency market and is seeing strong momentum. The asset is still firmly positioned as a key player despite some setbacks thanks to robust trading volumes and advantageous on-chain metrics. The price of XRP has been rising over the past few weeks, surpassing important resistance levels. Its advance towards $3 and above was triggered by its exit from the consolidation pattern at around $2.5.

The asset found support above the 50 and 100 EMA on the daily chart, demonstrating XRP’s exceptional performance. Additionally, RSI levels near 68 indicate that XRP is still in a healthy bullish phase without being overbought. The next important target for bullish investors is $3.5, while XRP is currently trading at $3.13.

A possible breakthrough would indicate new upward momentum, as this level represents a psychological and technical barrier. On the other hand, if current levels are not maintained, XRP may retest support at $3 or even $2.75. Additionally, on-chain metrics present a favorable picture of XRP. In recent days, more than 1 trillion account-to-account payments have been made, indicating an increase in network usage and activity.

The growing popularity of the asset has also been supported by the steady increase in the number of active accounts. The fact that XRP can sustain high trading volumes – currently surpassing $230 million on its bullish candles – once again demonstrates its dominance. This volume of activity suggests that institutional and retail investors are still interested.

Looking ahead, XRP’s path to $3. 5 depends on both the continued strength of the channel and overall market conditions. A successful breakout of $3.5 could pave the way for further gains, making the $4 mark a realistic target. However, traders should continue to be on the lookout for possible retracements, particularly if market sentiment changes or volume declines.

Solana gets all the attention

Solana’s remarkable 45% rally in recent days has caught the market’s attention and could indicate a significant trend reversal. Many significant technical breakthroughs have coincided with this surge, which could open the door for long-term bullish momentum. Solana recently broke through a number of important resistance levels such as the 50 EMA at $199 and the 100 EMA at $210.

There had previously been no significant price rally due to these levels. A strong bullish signal that confirms the potential for a trend change is provided by surpassing these thresholds. The asset is currently trading above $280, indicating a high level of market confidence. After Solana firmly broke out of its descending channel that kept the asset under selling pressure for weeks, another significant breakout occurred.

By rendering the bearish structure invalid, this movement sets the stage for a more bullish continuation. Additionally, the fact that Solana’s RSI has reached 78 indicates strong momentum. This confirms the strength of the buying pressure propelling the rally, although it also indicates overbought conditions.

The increase in volumes was also significant. During this rally, Solana’s trading volume reached a new high, indicating increased participation and interest in the market. In order to maintain the current upward trend, this is a crucial element.

Looking ahead, the $300 mark could serve as a psychological barrier as Solana encounters its next significant resistance. If this breakthrough is successful, it could lead to higher targets of $350 or more. For the asset to continue, its bullish outlook for downside support above $250 must be maintained.