Bitcoin (#BTC☀ ) surged by more than 6% on Monday, climbing above the resistance level of $66,000. If it holds, Monday's breakout could trigger the much-anticipated bull run, as analysts closely monitor the cryptocurrency's behavior around this level.
Analyst Predicts Sustainable Momentum
An analyst from Altcoin Buzz predicted that Bitcoin will maintain its upward trajectory as long as it stays above this crucial level. In the past, Bitcoin has often fallen back below $66,000 after breaking through, leading to prolonged sideways price movement.
The analyst expects #bitcoin☀️ to confirm this breakout by staying above $66,000 in the coming days. This would mark a departure from previous instances where the digital asset experienced false breakouts, only to quickly retreat below this level. A confirmed breakout would turn the resistance level into support, setting the stage for the next phase of Bitcoin's rally.
Notably, Monday's Bitcoin surge triggered the liquidation of more than $100 million in short positions. This move caught many crypto traders off guard, especially considering the low trading volumes typical after the weekend. The increase was unexpected, as no major macroeconomic event was tied to it.
Solana Poised for Growth
Meanwhile, analysts are predicting a significant rally for Solana (SOL), a blockchain solution focused on scalability. Many believe that Solana’s adoption could rise if Donald Trump wins the upcoming U.S. presidential election. This forecast is based on Trump’s openness toward blockchain and cryptocurrencies, which could drive broader adoption of Solana. ( #Solana_Blockchain )
The Altcoin Buzz analyst highlighted that Solana’s faster transaction speeds and support for decentralized applications position it well in a crypto-friendly environment. Some analysts predict that Solana’s native token, SOL, could surge by 400% if Trump becomes the next U.S. president.
A 400% increase would push Solana’s price above $700. Analysts also foresee Ether (#ETH🔥🔥🔥🔥 ) rising by 300% during the same period, reaching over $9,650. Market experts expect a massive surge in Bitcoin prices, with the leading cryptocurrency potentially hitting an impressive $185,000 by the end of 2024.
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