Despite price increases in the cryptocurrency market, a new bull market phase has yet to begin. ETF approvals have not led to a significant influx of new investors, suggesting that those looking to profit from altcoins may still have time while the cumulative volume remains below $50 billion.
Solana (SOL) experienced a significant rise from $8 to $126, demonstrating the relentless opportunities in the cryptocurrency market. Investors who took the risk at attractive levels found profitable selling opportunities with SOL Coin.
Currently, SOL Coin faces challenges as it dipped below the $87 support level but bulls have managed to pull the price back up, influenced by Bitcoin’s aim for $42,000. If SOL regains its trend line, we could see a rise to $107, $117, and $126. Conversely, bears may push the price below $79, with $64 as a critical support level.
Ripple (XRP) bulls are struggling to halt its decline at $0.50, with no significant recovery in sight. The outcome of Ripple’s legal challenges could be a major price catalyst, but the collective appeal process needs to conclude for XRP Coin to potentially claim victory. A break below $0.50 could lead to a drop to $0.46 and $0.41.
Looking at the list, SOL seems poised for a quick recovery, while ADA Coin does not show a clear sign of an uptrend. After a bounce from a descending channel’s support, bulls tried to extend a relief rally to $0.51 for ADA Coin. If unsuccessful, the price might fall to $0.35.
