Crypto Prices Today: Bitcoin and Ethereum Recover As Solana (SOL) Goes Ballistic, Toncoin Up 11%, WIF Pumps 20%

Crypto Prices Today: Bitcoin and Ethereum Recover As Solana (SOL) Goes Ballistic, Toncoin Up 11%, WIF Pumps 20%

Cryptocurrency prices remain in an uptrend fuelled by a strong recovery in the Bitcoin and Ethereum prices in the last two days. The price drop which occurred at the end of last week seems to have faded as BTC price traded at $66,780 on Monday morning. The bullish market conditions have also propelled Solana's price 8% higher as it changes hands at $188 at press time.

The altcoin market is outperforming Bitcoin as the altcoin market dominance is showing a significant uptick at the start of the week. The effect is visible in an increase of $4.14 billion in the Total 3 market capitalization which shows the overall size of the altcoin market.

While the overall investor sentiment around digital assets remains positive, the BTC price stands at a critical point. The pioneering crypto asset is set to undergo halving next month. However, the recent rejection from $73,000 and the ongoing consolidation below the 2021 peak suggests that there might not be enough demand above this level.

Can Ethereum Price Break Above $4,000 Once Again?

Advanced technical analysis shows that the ETH/USD pair is still maintaining its bullish market structure. However, the pair is consolidating within the $3,288 to $3,812 range, where the range-high and range-low act as resistance and support, respectively.

After a retest of the range lows on the weekend, Ethereum price is now heading toward the middle of the range, around $3,552. A breakout beyond this level will make a retest of the range highs very probable.

Solana (SOL) Leads In The Market Recovery

As visible in the chart below, SOL/USD has broken out of the downward trendline and looks very bullish. Another confluence for the bullish Solana price prediction is the recent breakout above $186.5. This level was the highest point of the accumulation range and acted as a resistance.

If bulls turn this level into a support, I expect another retest of the yearly highs around $211 in the coming days. In the event of a breakdown below this zone, the range-mid around $179 might act as short-term support.

Toncoin (TON) Hits An All-time High

The phenomenal rally of Toncoin continues as the digital asset soared to a new all-time high on Monday. After briefly trading above $5.50, the price stood at $5.37 at press time. This was the second time that the TON price got rejected from the $5.50 level in the last 2 days.

Nevertheless, the technical analysis presents a very bullish outlook for the TON/USD pair as it consolidates in a tight range after breaking above major resistances. If bulls gain strength above $5.50, another bullish leg might follow.

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