Cryptocurrency Market Forecast for Next Week: An Investment Opportunity You Can’t Miss
Bitcoin completed its fourth halving, and following that, the cryptocurrency market started to rise in an attempt to resume bullish momentum. Contrary to the expectations of several analysts who predicted selling pressure immediately after the halving, the market reacted in the opposite way. As cryptocurrency prices continue to rise, Bitcoin and major altcoins are likely to be bullish in the coming week.
Market Liquidations Exceed $100 Million, Coinglass data shows that the total liquidation in the cryptocurrency market exceeded $113 million in the past 24 hours. Despite this, Bitcoin’s market dominance is still declining, with a weekly decline of 2.3% and a daily decline of 0.16%. In contrast, the dominance of altcoins has increased significantly, rising by 7.9% this week. Analysts expect a strong rebound in Bitcoin prices next week, along with altcoins to rise, as the accumulation trend rises.
The adjustment sentiment around Bitcoin prices among Bitcoin holders after the halving event remains. Therefore, given the growing dominance of altcoins, even small fluctuations in Bitcoin prices can lead to significant increases in altcoin prices.
Solana Price Analysis
Solana has been holding at $125 recently, which shows strong interest from buyers. In recent days, the price has surged above $150 and is now aiming to break the $200 mark in the coming week. (Click on the avatar to see the introduction)
The price is expected to approach the 200-day moving average at $159, which is a critical level to monitor. A sharp drop from this point may lead the bears to try to push the SOL/USDT pair below $126 again. If successful, this may lead to the continuation of the downtrend towards the $100 mark. If the price breaks above the 200-day moving average, it may indicate that the bearish pressure is waning. The next resistance level may be $162, which may be overcome, potentially leading the pair to $185.
Dogecoin Price Analysis
DOGE price has successfully rebounded from the low of $0.14 and is expected to regain momentum. Buyers continue to break above the recent Fibonacci levels in anticipation of a retest. The price is expected to rebound to the 200-day MA at $0.17, which is an important level to monitor.If buyers are able to break through this threshold, the DOGE/USDT pair could approach the critical level of $0.187. A break above this level could push the DOGE price up to $0.22. (Click on the avatar to see the introduction)
In addition, strong buying interest from bulls is expected in the $0.14 to $0.12 range as a break below this support could result in a sharp decline that could push the pair up to the critical $0.10 support next week.
