Cryptocurrencies Price Prediction: Ethereum, Litecoin & Solana – European Wrap 4 April
|Layer 1 coins Ethereum, Cardano and DOT make massive moves, riding on alt season gains?
Layer 2 assets dominated the narrative on crypto Twitter for months before Layer 1 coins made a comeback. Ethereum (ETH), Cardano (ADA), Polkadot (DOT) and Avalanche (AVAX) rank among the Layer 1 coins that yielded gains for holders since March 28.
Over the past few months the Layer 2 coins in the Ethereum ecosystem piqued the interest of crypto market participants. With Arbitrum airdrop and relevant announcements, there was a spike in demand for Layer 2 coins.
Litecoin price at critical juncture, LTC bulls need to conquer this level for a 45% rally
Litecoin price has shown incredible momentum after it overcame a significant hurdle in the first week of January 2023. Since then, LTC has tried to breach the next critical level twice but has failed. Investors need to pay attention to the altcoin as it hovers below the aforementioned resistance level, plotting another attempt to break out.
Litecoin price flipped the $74.02 to $71.60 hurdle into a support area on January 6, 2023. Since then, LTC has rallied 40%, briefly slicing through the $96.30 hurdle and setting up a local top at $105.71 on February 16. A full retracement that tagged the aforementioned support area gave LTC a similar thrust, which propelled it 42% this time and is currently forming a lower high at $96.00.
Solana Price Forecast: SOL could be next altcoin to breakout and rally 25%
Solana (SOL) price is bound to send one of its most bullish signals to the market as a breakout is brewing for the bulls. With the TMS Network (TMSN) exploding by 1, is400%, SOL is being picked up alongside as a proxy trade for the altcoin. Adding fuel to the fire came this Tuesday as the US Dollar lost substantial levels against major G7 currencies and is fading against cryptocurrencies, opening up more upside potential.
Solana price is in good shape on Tuesday as a few catalysts are brewing and opening up room in SOL for a leg higher. The first element is TMSN, which has grown 1,400% recently and is now entering its phase 2 of the presale stage. Solana is enjoying additional interest as it is affiliated with TMSN and is being used as a proxy trade for bulls who want to be part of the rally in a less volatile environment. An additional factor comes from the US Dollar that is fading this Tuesday as it loses important handles against EUR, GBP and JPY.
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