According to FxPro senior market analyst Alex Kuptsikevich, the crypto market has been relatively stagnant, with market capitalization trending downward. However, today Ethereum (ETH) is trading 2.6% higher at $2,977.88, and its market cap is up 2.64% to over $357 billion.đ However, continued consolidation at the lower end of ETH's price range and a "death cross" below its 200-day average is a long-term trend. predicts future declines.
Similarly, Cardano (ADA) experienced a 2.43% increase in its price and its market cap increased by 2.42%. ADA is trading in a low price range, suggesting a cautious outlook despite the recent rise.
Litecoin (LTC) price increased by 1.81% to $80.98 and its market cap increased by 1.82%. LTC continues to test its 200-day average, indicating a potential fight to regain stronger bullish momentum.
In contrast, Solana (SOL) shows speculative potential. According to Merkle Tree Capital's predictions, the price of SOL could rise to $400 by November 2024.
However, Kuptsikevich's medium and long-term analysis paints a more complex picture of the future situation of these cryptocurrencies.
