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Cryptocurrencies Price Prediction: Ethereum, Solana & Bitcoin – American Wrap 05 November

Ethereum Price Forecast: ETH could rise 10% upon a Trump win, investors de-risk ahead of election results

Ethereum (ETH) is trading near $2,450 on Tuesday, but it could stage a 10% rise to test the $2,707 key resistance level if Donald Trump wins the US presidential election. However, on-chain data reveals uncertainty and short-term bearish pressure as ETH investors appear to be de-risking ahead of the election results.
Ethereum Exchange Reserve
Solana (SOL) rebounds on Tuesday after six consecutive sessions of losses as price action tests a critical breakout level at the $160-$165 region from a technical point of view. The increased levels of leverage among traders and momentum indicators suggest that bearish momentum is fading, increasing the likelihood of a further recovery in the short term.
SOL Exchange Liquidation Map
Bitcoin (BTC) slightly recovered to around $68,800 on Tuesday, following a shift in the United States presidential race that saw former President Donald Trump regain the lead, after US spot Bitcoin ETFs experienced an outflow of over $540 million on Monday. Grayscale’s report highlights that cross-asset returns in October reflect trends typically seen in a “Trump trade”. This includes growing positions in the dollar, crypto, and expectations of higher Treasury yields, which gained momentum as Trump’s lead in prediction markets strengthened ahead of the election.
Total Bitcoin Spot ETF Net Inflow chart. Source: Coinglass
 

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