- Altcoin’s Ethereum, Cardano and Solana witnessed a growing backlash as US investors responded to rising inflation.
- The outlook for Ethereum, Cardano and Solana is bullish in the news of the upcoming merger and Vasil Hardfolk.
- Cardano prices are ready for a 35% increase, but Ethereum and Solana are expected to continue to rise.
After a week of instability, Ethereum, Cardano and Solana began to rise, recording a significant rise overnight. Technical indicators turned bullish as altcoin recovered from the release of US CPI data and imminent inflation.
The top 10 cryptocurrencies by market capitalization surged in price after the economic outlook changed. Ethereum and Solana prices may witness a breakout in the short term.
The Ethereum Marge, scheduled for September 2022, is priced as ETH prices rise. Altcoin has witnessed a rapid change in the story from “buying a dip” to “triple half” and “flipping”. Speculators are purely focused on the merger of Ethereum as a catalyst for rising ETH prices.
Tim Beiko, the developer of the Ethereum Foundation, announced that September 19, 2022 is the tentative date for the transition from Proof of Work to Proof of Stake. In particular, Ethereum prices could continue to rise until they reach $ 1,506 and $ 1,600.85. If the bear fails to take over Ethereum, Altcoin will march higher towards the $ 2,326 target.
Magic Eden, Solana’s leading NFT marketplace, has announced an expansion in the Web3 space using Magic Driver. The NFT marketplace has played a role in driving the increase in transaction volume and capital inflows to the Solana blockchain. Coupled with the recovering crypto market and increasing capital inflows, Solana’s prices began to rise, recording an almost 7% rise overnight.
We are aiming for a price target of $ 60.39 for Solana. If the momentum slows down and the takeover is tolerated, the altcoin uptrend will be limited. If the price of Solana continues to rise, the next target is $ 70.
Cardano’s price bounced back at $ 0.43 and Altcoin has been unable to establish a clear trend since mid-June 2022. With each bounce, Cardano’s price trend was greatly lost and altcoin weakened. Following the liquidity run, integration took place in Cardano, and Altcoin began recovery after being controlled by bears for several weeks.
Cardano’s price trend is bullish after reversing the 200-day moving average. ADA is ready for the $ 0.62 target.
Disclaimer: The views and opinions expressed in this article are for the author only and do not necessarily reflect the views of CQ. The information in this article should not be construed as investment advice. CQ recommends that all users do their own research before investing in cryptocurrencies.