Bitcoin commenced the morning on March 30 at a value of $70,000, with an upward momentum undeterred by the Good Friday closure of US markets, which paused exchange-traded fund (ETF) data updates. Despite a lack of stimulus from Bitcoin spot ETFs in the preceding weeks, traders maintain a bullish stance fueled by historical trends and the anticipation of the forthcoming block reward halving.
Prospects of Bitcoin’s Surge in Halving Month
Reaching a high of $73,777, Bitcoin’s trajectory hints at an ascent toward even greater summits in April, the month of the halving. With a breakout from a key flag pattern post-all-time high, technical indicators on the 4-hour chart signal a strong bullish trend, eyeing a potential rally to a target of $77,000. The maintenance of the $69,715 support level is pivotal for these bullish forecasts to materialize, particularly as the halving event between April 20-22 nears. Moderate inflation figures in March could further bolster a climb in the short term.
Soaring Expectations for Solana (SOL)
Solana (SOL) is slated to deliver returns to its investors in the upcoming month. The weekly net flow report from CoinShares positions Solana at the forefront of investment inflows, outpacing even Ethereum. Historical data indicates that such inflows are precursors to significant price rallies. Thus, Solana’s market price is likely to pursue objectives at the $200 and $250 levels, with possible retracements to support zones at $186 and $164 should headwinds emerge.
Contrast in FTM Coin’s Direction
Contrastingly, FTM Coin is projected to offer profitability to short sellers in the futures market. The forecast for Fantom (FTM) is less sanguine, with a potential drawback of around 20% according to the parabolic curve model, conditional upon price closures beneath the $1.12 resistance area. Technical indicators such as RSI and MACD corroborate this bearish outlook. Currently, FTM’s price teeters around the $1 mark, with the possibility of retracting to the $0.8 support level or lower, although it is important to note that technical analysis is not a crystal ball and market prices can defy expectations.