Solana (SOL), one of the biggest Ethereum rivals, continues to close below $88. Although the Bitcoin chart is up and down, altcoins are falling steadily. They fail to recover from the BTC rally but extend their losses as short-term recoveries reverse. So how many dollars is the target? How many dollars will HYPE Coin be?
Solana and HYPE Coin
Having decreased by 60 thousand dollars from the peak Bitcoin (BTC) It is at risk of making deeper bottoms, which is why altcoin investors are discouraged. We mentioned in the last quarter that closings below $132 for SOL Coin could lead to deeper bottoms. BTC first lost $ 125, then fell below the $ 118 threshold and tested the bottom support at $ 96.
SOL Coin, which hit $68 as BTC reached the bottom of the cycle this month, is now falling to the level it hit with closings below $88. $78 seems like the last stop for now, and $68 is the target if we don’t see a strong change in overall market sentiment.
Hyperliquid recently surpassed $35, fueled by Binance FUD, which reached its peak. HYPE Coin, which tested the December peak at the point where BTC was rushing to new lows, also made good use of its advantage in listing commodity futures. While the market is crashing HYPE It has lost significant growth, but profit sales are inevitable.
That’s why HYPE Coin is now targeting $28 with closes below $32. Although closings above $28 make it possible to test $35 again, it may fall to $26.78 and $24.3 in an environment where it loses support. Then the target will be $22.
Bitcoin (BTC)
Turkish crypto analyst In his short-term analysis, Efloud mentioned that he would look for a short opportunity for BTC, and he was right. After a short-term recovery, BTC returned as it failed to exceed $72,000 and short sellers gained. There are currently 2 breakout levels. These are 57 thousand and 72 thousand dollars. By breaking one of these, BTC will either make a comeback or reach deeper bottoms.
Bitcoin Realized Losses are reminiscent of the worst days of the 2022 bear market.
It takes time for the bottom to form, but this data shows us that the bottom phase may have started. Dark clouds will remain over us for a while, and then we will wait for the year 2023 (that is, a period similar to those days) to begin.
