Cryptocurrencies Price Prediction: Polygon, Solana & Ethereum – European Wrap 5 April
|Polygon price to explode 30% as MATIC whales kick-start accumulation
Polygon price is looking to chart new year-to-date highs as its investors have changed their stance to bullish. The altcoin is likely following the pattern noted before the alt season begins, which could further support the bullish outlook resulting in a significant increase.
MATIC price Right now, if the bullish outlook observed at investors' hands plays out, Polygon price would be looking at breaching the critical resistance (CR) level at $1.27, which stands at the confluence of the 50% Fibonacci Retracement of $1.52 to $1.01. Flipping this level into support is crucial for the altcoin so bulls can propel it by 32% to tag 2023 highs at $1.52.
Solana price edges closer to 70% breakout as SOL attempts to breach multi-month resistance
Solana price is actively attempting to breach a crucial hurdle that has persisted for more than a year. A successful breakout from this level could yield massive gains for SOL holders.
Additionally, looking at the dominance of Bitcoin and altcoins reveal that capital rotation is more than due.
Solana price shows an inverse head-and-shoulders formation on the daily timeframe. This technical formation contains three distinctive swing lows, with the central trough lower than the other two. The variant in the middle is termed head and the troughs on either side are named shoulders. Hence the namesake inverse head-and-shoulders. Connecting the peaks of these swing lows using a trendline reveals a declining resistance level termed a neckline.
Ethereum Improvement Proposal EIP-4844 turns experts bullish, will ETH price rally?
Ethereum blockchain’s upcoming Shanghai hard fork has a key Ethereum Improvement Proposal 4844 (EIP-4844). Experts in the crypto community are focused on the implementation of the upgrade that reduces transaction cost on the ETH blockchain.
Ethereum blockchain’s EIP-4844 is one of the upgrades bundled in the Ethereum Shanghai hard fork, also known as Shapella upgrade. This Ethereum Improvement Proposal has the potential to tackle one of the long-standing challenges of the ETH blockchain. The proposal could reduce the transaction cost for users.
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