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Solana's coin, SOL, is currently priced at $164. Other alternative cryptocurrencies are doing well overall. However, SOL recently saw a temporary increase but dropped back below $180 due to a decrease in Bitcoin's value. This volatility in Bitcoin affects the rise of alternative coins, but there's optimism as Ethereum remains stable. If Ethereum continues to rise, more investors might move their money from Bitcoin to alternative coins. In the past five days, SOL's price increased by 31%, then decreased by over 20% at a similar rate. Bulls are now trying to keep the price above $166 and might push it towards $188 with support from Bitcoin. If they succeed, the next targets are $205 and higher resistance levels. #solana $SOL
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This week, all eyes are on Wednesday's release of the U.S. inflation data, which will influence the Federal Reserve's actions. Currently, there's a buying position on Binance, indicated by a green band after the 11:00 candle. On Coinbase, despite the price hovering around $60,400, the band hasn't turned red yet, signaling a continued buying position. The recent increase is attributed to longing in futures markets supported by spot purchases. While this doesn't suggest significant inflation, it's essential to monitor where these movements originate. Ideally, if Coinbase starts buying, it could provide more stability to the rises. Stay tuned for updates as we navigate this potentially volatile week. #BTC #altcoins
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