Weekend Watch: ETH, SOL, ICP, LINK, and ADA – Where are the Prices Headed?

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6 Apr 2024

KEY POINTS:

A sell wall at $3,475 could send ETH’s price below $3,300 as it attempts to push higher.
SOL might climb toward $198.18 but ICP might drop to $16.39.
LINK was on the verge of forming a bullish flag while ADA could aim at $0.59.

This week, prices of many cryptocurrencies tumbled and a lot of them failed to sustain their recoveries. However, traders are hopeful that the turbulent times experienced in the last five days will be put to rest this weekend.
Therefore, Coin Edition looks at five of the top 20 cryptos per market cap and how the direction they might head this weekend. Read on.
ETH Price Analysis
Between April 1 and 2, Ethereum’s (ETH) price fell from $3,654 to $3,237, highlighting how steep the correction was during the week. However, bulls capitalized on the drawdown and created support for the altcoins.
As a result, ETH climbed to $3,345. Despite the slight jump, the Relative Strength Index (RSI) showed that ETH was not yet out of danger as the reading remained below 50.00. If buying momentum increases this weekend, then the price could head toward $3,512 overhead resistance.
Coin Edition
ETH/USD 4-Hour Chart (Source: TradingView)
On the other hand, ETH might end up trading sideways if the momentum fails to improve. Meanwhile, the Supertrend showed that there was a sell wall at $3,475. If the price approaches that region, it could face rejection which could send it back below $3,300.
SOL Price Analysis
Solana’s (SOL) 4-hour chart revealed how the token struggled to retest the $200 psychological resistance after hitting it on the first day of the month. At press time, SOL changed hands at $177.76.
Furthermore, the Awesome Oscillator (AO) was negative. However, the green histogram bars appearing on the indicator suggested a bounce could be in place. This prediction was also reinforced by the Fibonacci indicator.
As of this writing, the 0.786 Fib level was at $198.18. With this position, SOL’s price might be closer to $200 before the weekend closes.
Coin Edition
SOL/USD 4-Hour Chart (Source: TradingView)
ICP Price Analysis
Profit-taking forced ICP as low as $16.60 earlier in the week. Since then, the token has not hit the $20.50 ceiling despite numerous attempts. This weekend, ICP might experience further decline, according to signals from the Exponential Moving Average (EMA).
At press time, the 9 EMA (blue) had a downward crossover of the 20 EMA (yellow), indicating a bearish trend. Also, the price of the cryptocurrency had broken below both EMAs. As such, ICP might face more downside, and the price prediction for the weekend could be $16.39.
Coin Edition
ICP/USD 4-Hour Chart (Source: TradingView)
LINK Price Analysis
On the 4-hour timeframe, Chainlink (LINK) has formed a descending channel, indicating that sellers have been in control. However, the price action showed that bears might be getting exhausted.
If this is the case, LINK might break out and form a bullish flag that raises the price. The RSI showed that the momentum had not yet confirmed the bullish thesis. However, the FIb levels revealed that the price could rally as high as $19.45 within the next few days.
If the momentum stalls, LINK might end up at $18.17 (the 0.236 Fib retracement). But if buyers take sellers out of the way, the bullish thesis could be validated.
Coin Edition
LINK/USD 4-Hour Chart (Source: TradingView)
ADA Price Analysis
ADA’s market structure was similar to many other altcoins. But bulls seem to have identified a solid support at $0.56. As such, the price of the token was heading northward at press time. However, as the value approaches the upside, it could encounter resistance at $0.59.
If bulls break through this point, then ADA could target a move past $0.62. Indications fron the RSI and Moving Average Convergence Divergence (MACD) showed that buyers were attempting to take the token away from the bearish zone.
Coin Edition
ADA/USD 4-Hour Chart (Source: TradingView)
A successful attempt could take ADA as high as $0.65. But that might not occur this weekend as the price might end up at $0.59. However, traders need to watch. If ADA gets rejected at $

FTX Estate Reportedly Sells $1.9B Worth Of Solana (SOL) To Settle Debts

Significant Buyer Interest

Nearly $7.5 billion worth of 41 million locked-up SOL are held by the FTX estate.
The majority of FTX’s digital assets were SOL, with a small amount going to BTC, ETH, and APT.

In an effort to settle the debts incurred by the defunct cryptocurrency exchange, the FTX estate sold Solana (SOL) tokens valued at around $1.9 billion.
According to Bloomberg, which cites sources familiar with the case, FTX’s estate sold off almost two-thirds of the SOL lot. There were as many as 30 million SOL in the lot, and each one was valued at $64. The tokens are locked up and will take some time to become sellable, which is why they are discounted.

Significant Buyer Interest

Nearly $7.5 billion worth of 41 million locked-up SOL are held by the FTX estate. At the time of writing, SOL is trading at $176.54, down 3.47% in the last 24 hours as per data from CoinMarketCap.
There was “significant buyer interest,” according to Bloomberg, which caused an FTX estate SOL auction to be postponed. Galaxy Trading, a division of Galaxy Digital, was one interested party; it had a $620 million fund set up to acquire SOL from FTX.
After FTX’s bankruptcy in November 2022, investors rushed to seize a portion of the company’s Solana assets. The majority of FTX’s digital assets were Solana, with a small amount going to bitcoin, ether, and APT.
With 20% of the lot unlocking in March 2025, the digital asset business Neptune Digital acquired 26,964 SOL at $64 apiece for $1.73 million, as previously announced. Moreover, Pantera had set up a $250 million fund in March in order to buy the FTX estate’s discounted Solana.
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin Whales Maintain Positive Accumulation Behavior Ahead Of 2024 Halving: Report

Bitcoin began 2024 with a blast gaining by over 73% in the first quarter of the year to establish a new all-time high price of $73,750. And although BTC soon declined from this value following a turbulent price movement in the last month, its biggest stakeholders have shown a consistent accumulation trend throughout the first three months of 2024, indicating a high confidence in the asset’s profitability ahead of the upcoming halving event.

Bitcoin Whales Acquire $21.6 Billion BTC, Boost Market Dominance By 1.4% As Halving Nears

In an X post on Friday, blockchain analytics platform Santiment shared that Bitcoin whales are still maintaining the “right direction” in regard to their accumulation pattern. Santiment reported that these whales, which represent holders of 100-100,000 BTC, purchased a total of 319,310 BTC (valued at $21.6 billion) in the last three months.
This report also stated that a significant portion of the newly acquired tokens came from retail traders, i.e., holders of 0-100 BTC, who collectively offloaded 105,260 BTC, valued at $7.2 billion and 0.7% of BTC’s circulating supply, within the same time frame.

🐳↗️ #Bitcoin‘s key stakeholders with 100-100K $BTC have ACCUMULATED a collective 319,310 $BTC (around 1.4% of the supply) in the past 3 months. Many of these coins came from 0-100 $BTC wallets, which have DUMPED 105,260 $BTC (-0.7% of supply) in 3 months. https://t.co/6KKFgZzrPz… pic.twitter.com/kXyQrOIRGA
— Santiment (@santimentfeed) April 5, 2024

In general, BTC whales increased their market share by 1.4% in the last three months, which is interpreted as a rather positive sign ahead of the highly anticipated Bitcoin halving on April 19. For context, the Bitcoin halving, which occurs every four years, is a network-programmed event during which the amount of miners’ rewards on the Bitcoin blockchain is reduced by half.
Generally, the Bitcoin halving is regarded as a positive event that results in asset scarcity, thus driving up demand and market price in the long term. This notion may just remain true as Santiment describes the increased accumulation by BTC whales heading into the final weeks before the next halving as a bullish signal, indicating high confidence in the asset’s future valuation.

BTC Price Overview

According to data from CoinMarketCap, Bitcoin currently trades at $67,521, reflecting a decline of 0.01% and 3.51% in the last day and seven days, respectively. In tandem, the daily trading volume of the digital coin is also down by 6.80% and valued at $32.35 million.

However, BTC is up by 6.43% on its monthly chart adding to an impressive year-to-date increase of 140.65%. With a market cap of $1.33 trillion, the maiden cryptocurrency remains the largest digital asset in the world.

BTC trading at $67,504 on the daily chart | Source: BTCUSDT chart on Tradingview.com

Featured image from Watcher Guru, chart from Tradingview

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: bitcoin Bitcoin Halving BTC whales btcusd BTCUSDT Santiment

Dive Into the Donk.Meme Presale: Your Ticket to the Next Big Solana Sensation

In the vibrant world of cryptocurrencies where meme coins are not just digital assets but a culture, Donk.Meme emerges as Solana’s latest gem, setting the stage for an unprecedented presale success.
Inspired by the iconic Donkey from Shrek, Donk.Meme is capturing hearts and wallets, already raising nearly 1000 $SOL within its first presale days. This donkey-themed sensation is poised to gallop beyond expectations, potentially eclipsing the success of previous Solana giants like $BOME.
Buy Donk.Meme Token

Why Donk.Meme Stands Out

Donk.Meme isn’t just a fleeting trend; it’s a revolution in the making. Combining humor with a robust community focus, it aims to carve its niche in the Solana ecosystem as the definitive Donkey mascot.
It’s deflationary token model and a fast growing ecosystem promise more than laughs; they offer real investment potential.
The presale success isn’t merely by chance; it’s a testament to Donk.Meme’s captivating appeal and its strategic positioning on the efficient and low-cost Solana blockchain.

Join Donk.Meme Token Presale

Join the Presale and Be Part of the Revolution

The Donk.Meme presale offers a unique, democratized opportunity for investors to get in on the ground floor. With a generous 70% of its 1 billion $DONKM total supply allocated to the community, this presale ensures fair and widespread token distribution.
Here’s how you can purchase Donk.Meme tokens on the presale:

Prepare Your Wallet: Ensure you have a Solana-compatible wallet ready, like Trust Wallet or Phantom Wallet.
Stock Up on SOL: Load your Solana wallet with Solana tokens from major exchanges like Binance, Coinbase, or Kucoin.
Head to the Presale: Visit the Meme Presale page, where you’ll be guided on sending SOL to the presale address.
Secure Your $DONKM Tokens: Following your contribution, you’ll receive your $DONKM tokens through an airdrop after the presale concludes, proportional to your SOL investment. Remember not to send SOL from an exchange as you won’t be able to receive your $DONKM token airdrop if you do.

Beyond the Presale: A Community-Driven Future

The buzz around Donk.Meme extends beyond its initial fundraising. With nearly 3500 members joining its social media platforms, the project is set for exponential growth. Multiple exchanges have already signaled interest in listing $DONKM, underscoring the broader crypto community’s excitement and confidence in the token’s future.
Join Donk.Meme Telegram & Discord communities to stay updates on latest announcements.

Why Act Now

The clock is ticking on this golden opportunity. Donk.Meme’s presale not only offers early access to a promising meme coin but also an invitation to join a vibrant community set to redefine the meme coin market on Solana. With transaction costs and speed in your favor, Donk.Meme represents not just an investment but a leap into a movement set to soar.

Ready to Gallop into the Future?

Don’t let this chance slip through your fingers. The Donk.Meme presale is where humor meets opportunity, where community meets growth. This isn’t just about buying a token; it’s about backing a project with the potential to become a cornerstone of the Solana meme coin universe.
Join us now, and let’s ride together into a future where Donk.Meme isn’t just a token in your wallet but a symbol of what the Solana blockchain and its community can achieve.

About Donk.Meme

Donk.Meme is a pioneering meme coin project launched on the Solana blockchain, inspired by the beloved character Donkey from the iconic Shrek series. It represents a unique blend of humor and investment potential, designed to captivate both meme enthusiasts and crypto investors. With its foundation on Solana, Donk.Meme leverages the blockchain’s superior speed and low transaction costs to offer a seamless and efficient experience for token holders.
Stay updated and engage with Donk.Meme Below:

Website: https://donk.meme
Twitter: https://twitter.com/donkdotmeme
Telegram: https://t.me/donkmemesolana
Discord: https://discord.gg/GzNQnrfgsE

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Disclaimer: This is a sponsored story. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.