The Ethereum (ETH) Relative Strength Index (RSI) rose sharply this Monday during the ASIAN PAC and European sessions, setting the course for the week, showing how effective the bulls are in trading. With a profit of nearly 40 percent through Friday, the price is expected to climb over the week to $2,574.15, recording the best-performing week of the year so far. Solana (SOL) investors, on the other hand, wonder if the price is a safe level before investing.
Ethereum price is favorable to rise
As we have reported on Kriptokoin.com, the week starts with a rally of cryptocurrency in the risky asset class, while Ethereum price is favorable to rise even more. ETH price rose 5 percent during the ASIAN PAC session in a move that showed the bulls were putting all their weight on the scales and outpacing the bears as the RSI rose sharply. With this big move, ETH price looks set to realize its best performing week of the year and it looks like a rise is very soon. The bulls may look for support at the same level this morning and from there it can rise to $2,148.67 by Wednesday.
A similar pattern is rally at 2.574 where the 55-day Simple Moving Average (SMA) will trigger some profit taking and trigger a short bearish downside. It could see a breakout above $2,278.42 before pulling it back to $15. As many positive headlines emerge and geopolitical issues are thrown into the background, a moment of balance appears to be about to begin. If a negative catalyst kicks in, it could wait for a temporary pullback and a drop in price action, returning ETH to $1,688.39. A break below this level could trigger a short decline below $1,600. Such a drop could result in a loss of around 17 percent against the current levels at which ETH price is trading.
If this happens, Solana price will increase by 100 percent
Solana price shows thought-provoking price action among crypto investors. This weekend, the bulls managed to establish some support at the $43 level. The newly established bullish barrier is definitely an unforeseen anomaly, and investors are wondering if it will provide additional support. Also, the bullish structure couldn’t have come at a better time, as a new passive income platform LOG and the Solana network are moving forward with development in the DeFi arena. Solana price is currently trading at $45, still roughly 80 percent lower than its all-time high of $250.
Such a significant drop is a truly remarkable presentation of the impact of smart money in the crypto ecosystem. However, it is very rare to see any cryptocurrency consistently decline without a trend reversal rally. The earliest evidence to justify someone to allocate their portfolio at Solana price would be a breach of the triangle apex at $49.50. If the bulls can identify said price action, the downtrend could end with bullish targets of $90 resulting in a 100 percent increase from the current Solana price.
