The crypto market started last week on a bearish note, with several top cryptocurrencies registering slight price declines. During the middle of the week, things picked off again and investors saw several shades of green.
However, at the end of the week, Bitcoin and other others were overcome by the bears, with Bitcoin in particular, facing a possible breakdown of $42,000 and a retest of $40,000.
In this piece, we will be going over five of the best crypto pairs to keep an eye out for next week.
Ethereum has several analyst opinions that prove that a massive bull run is underway.
One such prediction is this tweet from an analyst, Mags Ethereum has been in a massive symmetric triangle since 2017.
Mags goes ahead to tell his 47k followers that Ethereum's bull rally is always triggered whenever the cryptocurrency retests this trendline.
This leads us to believe that the current slowness of Ethereum is a sign that the cryptocurrency may be gearing up for something huge.
This is also mirrored by analyst, Ali, who says that the Ethereum whales have "scooped up" 100,000 ETH over the last week.
This means that the whales see a significant advantage, and have bought a whopping $230 million worth of the cryptocurrency in order to catch the "incoming" pump.
At the time of writing, Ethereum is currently retesting the $2,150 support, which proved to be a very strong resistance since May 2022, before being broken through on 2 December.
Shiba Inu finally broke through the $0.00001 resistance on Saturday last week and wasted no time in starting a correction phase after hitting $0.000011.
Analyst, Ali seems to think that if Shiba Inu maintains the crucial support level at $0.0000103, the next stop may very well be $0.0000140.
This means that depending on how Shiba Inu performs around $0.0000103, we might see a 40% rally on SHIB next week.
Optimism, after its rejection from $2.5 last week, appears to be headed for a retest of $1.89 as shown below.
This presents a scenario where the cryptocurrency declines by 10% for a retest of this zone.
However, an analyst has stated that between $2.17 and $2.30, around 27,000 addresses are holding over 45.6 million Optimism.
This means that $OP only needs to hit and break sustainably above this level. If we see this happen, OP has a real chance at rallying straight up to $2.7.
Worldcoin broke $2.65 to the upside on Saturday and rallied by 72% to $4.6.
As it stands, no real resistances stand between Worldcoin now, and the $5.29 price target from 24 July.
This presents a 30% price increase from where worldcoin currently sits.
The Fibonacci retracement tool shows that Worldcoin was only stopped at $4.6 because there is a strong resistance around $4.4.
However, if this $4.4 resistance breaks this week, price targets include $5.386 and $7.
Solana has successfully turned the $68 zone into a resistance. However, the problem now is the consolidation phase above this zone.
Solana, after being rejected at $75 early last week, successfully broke through and hit $79.5 on Friday.
However, the bears have caught up to it and are about to cause a retest of $68.
However, judging by Solana's strength over the last two months, the strength of the $68 zone, and the way the daily RSI has just normalized, we are bound to see some upside volatility in the coming week.
The price target for Solana is the $80 – $95 zone.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.