Cardano (ADA) Price Prediction for June 7.

ADA/USD.

The price of Cardano (ADA) has risen by 0.53% over the last day.

On the hourly chart, the rate of ADA is in the middle of the local channel, between the support of $0.4575 and the resistance of $0.4648.

However, if the breakout of the upper level happens, the accumulated energy might be enough for a move to the $0.47 zone.

On the bigger time frame, one should pay attention to the nearest level of $0.4656. If the candle closes near it or above, the upward move may continue to the $0.4750-$0.48 range soon.

A less clear picture can be seen on the weekly chart. In this case, one should focus on the bar's closure in terms of the previous candle's peak. If it happens above $0.4750, growth may lead to the test of $0.50. Such a scenario is relevant until the end of the month.

ADA is trading at $0.4733 at press time.

Base Flips Optimism (OP) as Biggest L2 in OP Stack.

Coinbase exchange's layer-2 scaling
solution, Base, has outranked many of its
peers on sustained growth since the start
of this year. According to data from
DeFiLlama, the Base Total Value Locked
(TVL) has now jumped to its all-time high
(ATH) in value at $1.784 billion. Base crossed the $1 billion milestone earlier in March.

Base-Optimism flip.

In relation to their relative ages, Base is a relatively newer protocol compared to Optimism. However, the emergence of Base came with a very defined embrace that has helped it keep up pace with growth figures.

While it currently boasts of a TVL ATH of $1.78 billion, Optimism has only managed to rake in $878.62 million. Though Base was designed using the OP Stack, both layer-2 protocols currently operate on a very different adoption rhythm.

On Base, the largest application is Aerodrome with a TVL of over $712 million. This protocol is also deployed on Optimism, however, with $147.01 million in value locked. The other intersecting application in the top five for both Optimism and Base is Uniswap. Again, the TVL of Uniswap on Base is $314 million, while that of Optimism comes in at $73.97 million.

The OP Stack ecosystem itself is bigger than the duo of Base and Optimism, with other DeFi, gaming and media protocols designed using the technology. Popular examples on this front include opBNB, Farcaster and Zora Network, among others.

While each of these protocols has recorded impressive growths over the past year, Base remains in the lead, per current data.

OP Stack and growth hurdles.

Despite the growth of Base and its recognition on the market, the protocol still faces significant backlash from critics. Most of the conversation in this regard hinges on the emergence of meme coins with a very short shelf life.

Activities on Base have often forced network congestion that generally leads to a halt in the Coinbase ecosystem as a whole. The OP Stack ecosystem is also known to suffer attacks, with Sonne Finance's $20 million exploit one of the latest in the ecosystem.

Ripple Suddenly Shifts 150 Million XRP into Unknown.

Today, Ripple has initiated a large-scale transfer of millions of XRP tokens to an unknown destination. According to Whale Alert, 150 million XRP were moved from the address "rBg2F," which belongs to Ripple, to the address "rP4X2," whose owner remains a mystery.

The recipient address, according to Bithomp, was activated in October 2023 by a 70 million XRP transfer from another address, which in turn was activated by a transfer from a Ripple wallet. Now "rP4X2" holds 173.661 million XRP, taking into account the tokens that came as a result of the recent transfer.

The sudden and mysterious movement of such a significant amount of XRP has left many questioning the future price action of the digital asset and Ripple's intentions.

Speculation among XRP enthusiasts is rampant, with many in the community suggesting that the crypto company might be initiating a sale of the cryptocurrency from its accounts.

However, the real motive behind moving $78.2 million in XRP to another address remains unclear. It is possible that this address also belongs to a crypto company, but no definitive information has been confirmed.

Meanwhile, XRP quotes continue to trade in an extremely narrow price range, around the half-dollar mark per token. Following a painful drop of more than 15% in early April, the price of XRP has been trading within a range of no more than 5%.

This stagnant trading range suggests that the popular digital asset is poised for a major move, but whether this will be an upward or downward shift remains uncertain.

Key Reasons Why Bitcoin Not At $100,000 Yet from Capriole Investments Founder.

Crypto analyst and founder of the Capriole Investments fund Charles Edwards has taken to the X social media platform to share his take on why the world's leading cryptocurrency Bitcoin has not reached the $100,000 level so far.

He named the key factors that he expects to propel the BTC price upwards within the coming few months.

"Why aren't we at $100,000 yet?"

Charles Edwards published a thread on X to share the reasons which he believes to stand between Bitcoin and the much- anticipated $100,000 price mark at the moment. This price surge has not yet taken place despite the launch of the spot Bitcoin ETFs.

So far, he stated, Bitcoin is only 50% up since January, when the SEC greenlighted the ETFs and many are wondering why BTC has not surged higher, Edwards pointed out. Bitcoin is changing hands slightly above $71,000 at the time of this writing.

Key factors for strong BTC rise in the future.

First of all, Edwards shared, "we are battling against a bigger force - long-term holder selling." According to his tweet, the number of long-term Bitcoin-holding wallets (those who have been holding for more than two years) has declined from the 57% all-time high reached in December 2023 to 54% today. Even though this is just a 3% drop and it may not look impressive, still, this comprises 630,000 BTC, which is also 300% of the total BTC supply that the Bitcoin ETFs have bought in the US since January.

The second reason shared by the analyst is that the market has not yet seen the true impact of the halving so far. In April, when the event took place, Bitcoin daily issuance plunged by 50%. Edwards believes that over the next year the delta between the ETFs purchasing Bitcoin and the BTC that is being mined will grow much wider.
Financial institutions need time to review the situation and allocate funds for buying Bitcoin, therefore the spot ETFs are likely to remain leaders in BTC purchasing at least for this year, he says.

310 Million Dogecoin (DOGE) Disappears into Unknown After Robinhood News Hits.

Today, the crypto space erupted with intrigue following the transfer of a whopping 310 million Dogecoin (DOGE), valued at $51.07 million. Whale Alert data revealed the movement from the address DEgDV^ prime prime to "DDuXG," igniting speculation within the popular meme cryptocurrency community.

What's catching everyone's attention is the potential tie to Robinhood, the U.S.-based brokerage giant. Sources suggest that the sender's address, holding 30.97 billion DOGE, worth $5.07 billion, could be linked to Robinhood. Meanwhile, the recipient address now holds 2.14 billion DOGE, valued at $350 million.

This transfer coincides with Robinhood's
recent announcement of its plans to
acquire Bitstamp, an old major European
cryptocurrency exchange, for
approximately $200 million in cash. The
acquisition, planned for completion by the
first half of 2025, adds an interesting layer
to the narrative.

What is clear is that this transfer marks a significant event in Dogecoin's journey, with the sender's address emerging as the largest DOGE holder, controlling around 23.4% of the total volume. This wallet's origin in May 2023 aligns with Dogecoin's surge in popularity, especially on platforms like Robinhood, which served as a gateway for many new cryptocurrency investors.

With major acquisitions and large-scale movements shaping the market, all eyes are on how this narrative will impact the DOGE price in the coming days.

XRP Bulls Eye Long- Overdue Price Rebound.

XRP has remained relatively stagnant this month, despite ambitions to curb the negative growth trends June has been known for over the past decade. While the reality is glaring, XRP bulls are eyeing what analysts labeled as a long-due price rebound that might help the coin retest its highest level over the past year, pegged at $0.8875.

What is XRP doing differently?

While pressing for price growth, fundamentals are typically associated with imminent price growth moves. In the case of XRP, most of the efforts of XRP Ledger developers have yielded little to no major price jumps.

Despite the release of the Automated Market Maker (AMM) engine and the emergence of several functioning pools on the Ledger, the price of XRP remains bound between the $0.4879 and $0.5561 price range over the past month.

The impact of the Ripple escrow lockup has also not impacted the price of XRP in the most preferred ways. With millions of XRP locked up and released from escrow monthly, there is an optimal level of dilution that has helped keep XRP in tune with meeting liquidity demands.

Overall, market observers are concerned about XRP's growth trajectory, especially with the lingering lawsuit between the United States Securities and Exchange Commission (SEC) and its associated blockchain payments firm, Ripple Labs.

More innovators are suing for more decentralized applications (dApps) on the XRP Ledger that can help drive the demand for XRP and ultimately its price.

Whale influence.

Many analysts considered the slow growth in the price of XRP as its latent period. This is because the coin is highly favored by whale transactions that generally see billions of XRP traded daily.

When these fundamentals converge, analysts are optimistic that the price of XRP will not only breach the $1 price level, but it might retest its ATH of $3.84.

Shiba Inu: Crucial Telegram Alert Issued to SHIB Holders, Here's Reason.

The Shiba Inu community is being urged to exercise caution following a crucial warning about an increasing number of scams on Telegram.

Fraudsters are impersonating official Shiba Inu ecosystem Twitter accounts on Telegram, particularly those related to Shibarium and Treat, in an attempt to deceive and defraud users.

Scammers are exploiting the popularity of the Shiba Inu ecosystem by creating fake Telegram accounts that mimic the official Shiba Inu X (Twitter) handles.

These fraudulent accounts have identical names to the official Shiba Inu X accounts and are intended to mislead users into believing they are engaging with legitimate Shiba Inu projects, thereby gaining their trust and potentially stealing their assets.

In this light, Shibarmy Scam Alerts, or @susbarium, an X account dedicated to exposing scams, has issued a safety warning for the Shiba Inu community to beware of fake Telegram accounts as scammers impersonate official Shiba Inu ecosystem accounts.

According to the Shiba Inu-focused X account, the Shiba Inu tea runs the @Shibariumnet and @Treatsforshib accounts on X. The story is different on Telegram as these accounts are run by scammers.

The Shiba Inu community is urged to stay vigilant and cautious when interacting with Telegram accounts. They should always verify identities as well as any announcements or offers against the official Shiba Inu website and X accounts. They should also never disclose personal information, private keys or wallet seed phrases to anyone purporting to represent Shiba Inu. This is because official representatives would never ask for such sensitive information.

As reported, the Shiba Inu team is not conducting token airdrops, nor are any giveaways planned for the immediate future; thus, the SHIB community is urged to remain skeptical of such claims.

Overall, the key message is to stay safe, never to click on suspicious links and to refrain from sharing wallet keys or personal information with anyone.

1.356 Trillion SHIB Suddenly Bought by 9
Wallets - What's Going On?

Analytics X account @lookonchain has reported that on June 5, a "crazy SHIB buy" took place as cryptocurrency whales accumulated a staggering amount of Shiba Inu meme coins.

It coincided with the price of the second largest meme cryptocurrency, SHIB, soaring by almost 8% within the past two days and a massive SHIB burn rate jump noted within the last 24 hours.

Trillions of SHIB absorbed by anon whales.

@lookonchain revealed that nine wallets, which belonged to two anonymous whales, purchased a mind-blowing 1.356 trillion Shiba Inu, paying $35.2 million in fiat for them at an average price of $0.00002596 per meme coin.

SHIB whales seem to have become more active this week. Aside from the above- mentioned massive SHIB buy, on June 5, the same analytics data source reported that an anonymous "super big SHIB whale" accumulated 715.9 billion SHIB meme coins. That cost him 4,849 ETH, valued at $18.44 million at the time of performing the transaction.

This second SHIB purchase was made by a whale who accumulated 5.5 trillion Shiba Inu in SHIB's early days for roughly $400 million and then sold that amount for approximately $121 million, when the SHIB price reached two peaks. Thus, he made more than $120 million of pure profit on those trillions of SHIB.

The above-mentioned purchases took place as SHIB whales became active this week and coincided with the meme coin's price soaring by more than 10% on June 5, reaching a peak of $0.00002630. Then a slight rebound followed, taking the price down by 2.65%.

As of this writing, Shiba Inu is changing hands at $0.00002258.

SHIB burns soar 3,895%.

In the meantime, according to the Shibburn explorer, overnight, the Shiba Inu burn rate demonstrated an impressive surge, skyroc keting by almost 3,895%. A total of 4,829,147 SHIB was transferred to unspendable wallets (i.e., burned) in total.

The largest burn transaction here carried 4,039,143 SHIB to a dead-end wallet approximately 15 hours ago.

Litecoin (LTC) Reaches Historic 250 Million
Transaction: Details.

Litecoin (LTC), one of the market's early cryptocurrencies, is celebrating a historic milestone as it reaches a quarter-billion transactions.

In a landmark achievement for the cryptocurrency, regarded as the "silver to Bitcoin's gold," Litecoin has exceeded 250 million transactions.

Litecoin, founded in 2011 by Charlie Lee, was created as a lighter and speedier alternative to Bitcoin, with faster transaction confirmations and cheaper fees. These qualities have made it a viable option for everyday transactions and micropayments, contributing to its widespread adoption.

The year 2024 has been especially remarkable for Litecoin, with over 40 million transactions processed in the year, demonstrating an increase in activity and interest in the cryptocurrency.

Over the years, Litecoin has been integrated into numerous payment processors and merchant services worldwide. Its acceptance by major platforms and retailers has expanded its usability, driving transaction volume and adoption.

According to current data, LTC has been used to pay for goods and services on BitPay, a crypto payment processor, over 133,000 times. In March, the Litecoin network received the Core 0.21.3 release, which brought significant improvements to the network, thus increasing its appeal.

Litecoin is currently the 20th largest cryptocurrency, with a market capitalization of $6.33 billion and a 1.22% price gain in the previous 24 hours to $84.94. This milestone of completing over 250 million transactions is more than a numerical achievement; it might suggest Litecoin's continued relevance and potential for future growth in the cryptocurrency market.

As Litecoin's growth accelerates, the crypto community celebrates this quarter- billion transaction milestone while anticipating the next big thing as its journey continues.

DOGE Price Prediction for June 6.

DOGE/USD.

The price of DOGE has declined by 1.49% over the last 24 hours.

On the hourly chart, the rate of DOGE might have found a local support level of $0.1617. Now, one needs to pay attention to the daily closure in terms of this mark.

If the daily closure happens far from that mark, there is a chance to see a bounce back to the resistance.

On the daily time frame, the price is trading within yesterday's bar, which means neither buyers nor sellers are dominating. An upward move may happen only if the breakout of the interim level of $0.1650 takes place.

From the midterm point of view, the picture is similar as the rate of DOGE is far from the key levels. In addition, the volume is falling, which means buyers are not ready yet to buy the coin at current prices. All in all, ongoing consolidation in the zone of $0.15-$0.17 is the more likely scenario.

DOGE is trading at $0.1627 at press time.

Solana (SOL) Maintains Bullish Trajectory Above 100- Day SMA, Rally Looms?

Solana (SOL) has shown remarkable market resilience by holding onto its position above the 100-day Simple Moving Average (SMA) in spite of notable market turbulence. SOL has seen a lot of volatility in the last several months, but it has found firm support at this pivotal moving average, indicating a persistent positive mood.

The ability of Solana to hold above the 100-day SMA shows that buying enthusiasm outweighs any downward pressure, providing a good basis for future upward momentum thereby attracting the attention of traders and investors.

As of the time of writing, SOL's price was down by -0.56%, trading at about $172. Its market capitalization was over $79 billion, and its 24-hour trading volume was over $1.9 billion. Both market
capitalization and the trading volume are down by -24% and -22.39% respectively.

Technical Analysis Of Solana.

This analysis was carried out using both the 4-hour and daily timeframe with the help of the 100-day SMA and the Relative Strength Index (RSI) indicators.

Solana is currently moving in a consolidation manner, building up momentum above the 100-day simple moving average in the 4-hour chart. Judging from the price movement, it can be suggested that SOL might move upward.

The 4-hour relative strength index is also actively positive as the RSI line is seen trending above the 50% level. From this RSI formation, it can be suggested that SOL will move down a bit closer to the SMA before making a good move in the upward direction.

SOL on the 1-day chart also looks bullish as it attempts to move upward after rejection at the $160 support level. Thus at this point, It can be suggested that the price of SOL can still potentially move upward.

Finally, we can see that the daily RSI is highly bullish because it rejected a downward move at the 50% level and started to rise again, indicating that the crypto asset is bullish and that the price could make a run for it.

Ethereum Whale Moves $33.55 Million in ETH to Coinbase: Details.

An Ethereum (ETH) whale has transferred 8,710 ETH, valued at approximately $33.55 million, to Coinbase, one of the leading cryptocurrency exchanges. The transaction was highlighted by Whale Alert, a service that tracks large crypto transactions. The transfer has sparked speculation that this whale might be preparing to sell a large portion of their holdings.

Such moves are closely watched by the crypto community, as they can significantly impact market dynamics. Given the recent rally in Ethereum's price, it is plausible that the whale intends to capitalize on the gains. Over the last 30 days, the ETH price has surged by 22.15%, and it is currently trading at $3,849, up 1.20% in the past 24 hours.

Market context and implications.

Ethereum's recent price performance has been robust, driven by a confluence of factors, including market optimism and broader adoption trends. The approval of spot Ethereum ETFs (exchange-traded funds) has been a major catalyst. These ETFs are expected to begin trading in the coming weeks, and many analysts believe that their introduction will further fuel Ethereum's price appreciation.

The approval of these ETFs marks a significant milestone for the leading altcoin, providing traditional investors with a new avenue to gain exposure to the cryptocurrency. This could potentially lead to increased demand and higher prices. Analysts are bullish on Ethereum's outlook, predicting that the price could surge as these ETFs launch and attract more institutional and retail investment.

Whale transactions, particularly those involving large amounts of cryptocurrency being moved to exchanges, are often seen as precursors to market volatility. Historically, large sell-offs have sometimes led to short-term dips in price, but the overall upward trajectory is driven by strong fundamentals, and increasing adoption tends to mitigate long-term concerns.

Charles Hoskinson Defends Cardano's Progress Against Media Claims.

Cardano's founder Charles Hoskinson strongly rejected recent media claims about the cryptocurrency ADA's decline, asserting that the network continues to make promising developments. Hoskinson's frustration was evident as he addressed what he sees as a significant disconnect between media perception and Cardano's actual progress and fundamentals. He highlighted several key developments underscoring Cardano's strength and bright future.

Hoskinson Expresses His Discontent.

Hoskinson took to the social media platform X to express his dissatisfaction with the current narrative surrounding ADA. "Throughout my career, I have never seen such a deep disconnect between the reality and perception of Cardano's true fundamentals against cryptocurrency influencers and media," he said.

The upcoming Chang Hard Fork forms one of the cornerstones of significant developments for ADA. This hard fork will burn all seven genesis keys, fully transferring protocol control to the Cardano community and marking a historic step towards full decentralization. The upgrade, as outlined in CIP-1694, will not only enhance on-chain governance but also introduce delegated representatives (DReps) to further decentralize decision-making processes.

Key Highlights for Hydra.

Beyond the hard fork, Hoskinson highlighted a series of initiatives designed to foster growth and innovation within the Cardano ecosystem. Among these is Hydra, a Layer-2 scalability solution poised to increase transaction speeds and reduce costs. This technology is now reaching maturity. Additionally, Cardano is expanding through sidechains like Midnight and Prism, exemplifying the network's collaborative and innovative potential.

Cardano's vibrant community is another
testament to its strength. This strength is clearly seen in the increasing number of
decentralized applications (DApps) and significant research efforts on blockchain scalability. Upcoming key events will further showcase Cardano's strong community and drive for innovation.

XRP Price Prediction for June 6.

XRP/USD.

The price of XRP has dropped by 0.47% since yesterday.

On the hourly chart, the rate of XRP is closer to the local support level than to the resistance. If the situation does not change, one can expect a level breakout, followed by a move to $0.52.

On the bigger time frame, the price of the altcoin is falling after a failed attempt to fix above the $0.53 mark. If buyers cannot seize the initiative until the end of the day, the correction may lead to the test of the $0.51 area soon.

From the mid-term point of view, it is too early to make any far price projections as a few days left until the candle closure.

In this regard, an ongoing sideways trading in the wide range of $0.50-$0.54 is the more likely scenario.

XRP is trading at $0.5235 at press time.

Shiba Inu (SHIB) and Cardano Explode With Whale Activity.

The cryptocurrency market has recently witnessed significant movements on Shiba Inu (SHIB) and Cardano (ADA) as both tokens experience substantial increases in large-scale transactions. Santiment reports indicate that this surge is largely driven by increased interest from whale investors, characterized by transactions exceeding $100,000.

This week, the number of such large transactions for SHIB and ADA has more than doubled compared to the average for 2024.

On a chart attached to the post, one can see that the current figure for such massive transactions for ADA token remains at 875, and for SHIB token at 321. However, even the day before, the numbers were much lower - around 455 for Cardano and 81 for Shiba Inu.

excessive whale activity regarding SHIB, as whales, who bought the token super early in 2021, recently accumulated more than 1.3 trillion Shiba Inu, equivalent to $33.28 million.

It remains to be seen if this is real accumulation by large players in these digital assets. As of now, the prices of ADA and SHIB are experiencing a slight downfall, with both of them quoting in red today.

However, if we look at the bigger picture,
we may see that since the beginning of the
week, in the last three days, the price of
Shiba Inu and the price of Cardano added
3.8% and 2.5%, respectively, amid the lack of volatility and rapid fluctuations. This fact may signal that whales are indeed here, and they are on the buying side.

Bitcoin (BTC) Paints Critical Pattern: Is Rally Over?

Bitcoin broke through the $70,000 barrier, a massive milestone, but not everything is so great. That being said, traders should be aware of a potentially dangerous pattern that is developing on the chart: a double top pattern around the $71,900 mark.

What exactly is a double top pattern? Generally speaking, this pattern is interpreted as a bearish reversal signal, suggesting that the asset may find it difficult to continue rising. It develops when the price reaches a peak, falls, then rises to the peak once more before beginning to decline.

The bullish momentum appears to be waning, as indicated by this double peak and a downward trend may ensue. The price of Bitcoin tried to rise after reaching $70,000, but it encountered resistance close to $71,900, as can be seen in the current chart.

The completion of the double top formation by Bitcoin might indicate the end of the current rally if it is unable to overcome this resistance and retreats. This cautious outlook is supported by a number of indicators. According to the RSI, a price correction is typically preceded by overbought levels, which Bitcoin is approaching.

Furthermore, the volume did not increase all that much during the most recent upward move, which may indicate that the buying pressure is waning. However, do not forget the larger picture. Even in spite of these red flags, in the past, Bitcoin has consistently displayed bullish behavior and resilience, frequently challenging technical analysis patterns.

Institutional interest and widespread adoption are both growing and the market sentiment at the moment is still mainly positive, thanks to the ETF. Traders need to be on guard. The double top pattern may be confirmed and a possible decline in price could result if Bitcoin breaks below the $70,000 support level.

XRP Plots Bullish Rebound on 2.4 Billion Traded Tokens.

XRP, the payment token associated with Ripple Labs Inc., is currently exhibiting a bullish rebound, with approximately 2.4 billion tokens traded within the last 24 hours. XRP's recent movement is quite notable as it follows a decline since May 21.

Factors fueling XRP's surge.

According to data from CoinMarketCap, XRP increased by 0.18% to trade at $0.5265. The market cap also increased by 0.29% to $29 billion, making XRP the seventh largest cryptocurrency in the world.

The current surge in XRP's price can be attributed to the current rebound on the broader crypto market. Top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) saw the price increase substantially in the past few days.

Additionally, expectations for the launch of a spot XRP ETF may have also influenced positive sentiment on the market. The anticipation is based on the recent approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC). Accordingly, some analysts and crypto enthusiasts believe XRP could be the next crypto to get regulatory ETF approval.

If this eventually happens, they claim XRP could see a supply shock that could fuel further price increases. Aligning with this view is Ripple's CEO Brad Garlinghouse. Garlinghouse said the launch of an XRP ETF is inevitable.

XRP bridges crucial aupport level.

Historically, the $0.51 mark has been a critical support level for XRP. Based on observation, XRP maintaining this price has led to price increases for the cryptocurrency in the past. On the other hand, a breach below this level resulted in price declines.

Therefore, XRP's price at $0.5265 means the token could be pushing for more increases soon. Traders should, however, look out for other metrics that could influence XRP's price before investing their money in the digital asset.

Toncoin (TON) Price Prediction for June 5.

TON/USD.

The price of Toncoin (TON) has risen by 4.95% over the past 24 hours.

Despite today's rise, the rate of TON is trading near the local support of $7.22. If the bounce back does not happen by the end of the day, there is a chance to see a decline, followed by a move to $7.

On the bigger time frame, bears are also dominating over bulls. If the daily bar closes around current prices, the correction may continue to the $7 area until the end of the week.

From the midterm point of view, the rate is in the middle of a wide channel, which means none of the sides has seized the initiative yet.

Thus, the volume has dropped, confirming the lack of buyers' and sellers' energy. All in all, sideways trading around $7 is the more likely scenario.

TON is trading at $7.24 at press time.

Solana (SOL) Price Prediction for June 5.

SOL/USD.

The price of Solana (SOL) has risen by almost 4% over the last day.

On the hourly chart, the rate of SOL is testing the local support level of $172.31. If it breaks out, bears may return to the game, followed by a test of the $170 zone.

On the daily time frame, the price of SOL has made a false breakout of the interim level of $173.93. At the moment, one should pay attention to the bar's closure.

If it happens far from that mark, there is a chance to see a correction to $170.

From the midterm point of view, it is too early to make any distant predictions. However, If buyers can hold the gained initiative and the candle closes near $176, the upward move may continue to the next resistance at $184.68.

SOL is trading at $173.06 at press time.

Michael Saylor Reacts as Bitcoin (BTC) Breaks Above $71,000.

Michael Saylor, cofounder of MicroStrategy business intelligence giant and a prominent Bitcoin evangelist, continues a series of BTC-themed tweets that he has been publishing daily. His recent tweet coincided with the world's leading digital currency reclaiming the much-anticipated $71,000 price level.

In an earlier tweet, however, Saylor made a Bitcoin-related prediction about the future of money.

Michael Saylor's statement as Bitcoin price jumps.

In a recent tweet, Saylor published an Al- generated photo of a bee inside a beehive with a Bitcoin mascot inside it. "Join the Swarm," the tweet invites, meaning the rapidly growing global community of BTC believers and holders.

His earlier tweet, though, contains a prediction of the future form of money. Saylor tweeted that he expects the future of money to be digital, concluding the tweet with a Bitcoin hashtag.

Bitcoin surged above the $71,240 level yesterday and then again recovered it today after a small rebound, as market participants look forward to potential interestrate cuts by the U.S. Federal Reserve as early as November. The Bitcoin price increase from Tuesday to today constituted 3.71%. The decline since then has been almost 0.9%, with Bitcoin changing hands at $70,680.

Aside from that, on Tuesday, spot Bitcoin ETFs saw massive inflows as they absorbed a whopping $887 million in BTC. BlackRock's IBIT scooped up $274 million, while Ark Invest increased its BTC holdings by $139 million. This happened to be the second largest daily inflow since the Bitcoin ETF approval by the SEC in mid- January.