Bitcoin (BTC/USD), Ethereum (ETH/USD), Solana (SOL/USD) Price, Chart, and Analysis
- Solana soars on heavy volume.
- Bitcoin[1] remains in a holding pattern for now.
- Ethereum[2] prints a fresh multi-month high.
The cryptocurrency market is nudging higher with the market’s capitalization back above $2.10 trillion, driven in part by a strong performance across the alt-coin space. Solana (SOL) has been a notable out-performer over the recent weeks, hitting a high of $130 on Monday before fading back to a current level of $110. Solana, now the 8th largest crypto by market cap, traded around $22 in late July and started the year around $2. The recent rally has been accompanied by surging volumes, suggesting further highs may be on the horizon.
Solana (SOL) Continues to Make Fresh Highs on Pumped Up Volume[3]
Solana (SOL/USD) Daily Price Chart September 1, 2021
Chart via Trading View
The recent Bitcoin consolidation phase looks set to continue as the market leader’s dominance is gradually eaten into by a resurgent Ethereum. The current range between $46.3k and $50.5k looks set to hold in the short-term with support being underpinned by 200-day sma, currently at $46,050, while the 50% Fibonacci retracement at just under $47k is also helping to pare losses. A break back above the 20-day sma, currently at $47,700, and a return into the recent bullish channel will open the way for BTC to test higher levels.
Bitcoin, Ethereum Predictions – Consolidation Phase Leading to Higher Prices[4]
Bitcoin (BTC/USD) Daily Price Chart September 1, 2021
After trading around $3,050 at the end of last week, Ethereum has pushed ever higher and is now at its highest level in over three months. The shorter-dated simple moving average has acted as support for the move, helping ETH break the $3,378 August 23
