What Will Happen to the Prices of BTC, ETH, XRP, SOL, and SUI?
The cryptocurrency market is at a pivotal moment, and traders are unsure if a breakout or a decline is imminent. In a recent episode of Thinking Crypto, host Tony sat down with Brian from Santiment to examine the statistics, determining which indicators are most important at the moment and how high Bitcoin, Ethereum, XRP, Solana, and Sui could rise.
BTC Eyes on $110K Before the Next Big Move
Brian claims that the MVRV ratio, which measures unrealized gains, is far from overheating about the price of Bitcoin. We’re not there yet, but in previous cycles, Bitcoin often peaks when its 3-month and 6-month MVRV ratios reach extremely high levels.
About two-thirds of the total supply is currently held by whale wallets with 10–10,000 BTC, which have increased by 4.1% in the last year to about 536,320 BTC.
Bitcoin made an unsuccessful attempt to break $123K over the weekend. Brian believes that before any drive toward new highs, we might first witness a decline toward the $110,000 mark.
Ethereum (ETH)
With mood being upbeat, Ethereum has been riding the wave of ETF approvals. Before reaching the danger zone, ETH still has room to expand, according to the MVRV. He observes that stake withdrawals are still modest and whale holdings have grown, suggesting confidence.
ETH is currently selling at over $4739, which represents an almost 30% increase in only one week. Key resistance is located around $4,830, and if momentum holds, the price might rise to $5,000 or $5,500.
XRP
Brian says that MVRV data indicates that XRP is still cheap when compared to its previous highs. Although it might take some time, he thinks that the absence of intense exhilaration could portend long-term benefits.
A breakout from the chart’s barrier at $3.45 could push XRP closer to the $3.6–$3.80 zone. Although whale activity is consistent, the strength of the market as a whole may provide the true push.
Solana (SOL)
Moving on to Solana, its MVRV ratio is within acceptable bounds and is not exhibiting any indications of overheating. Brian points out that SOL is currently in a good position for upside and frequently makes spectacular moves when MVRV increases.
SOL is currently trading at $205.83, up more than 22% in the last week. The path to $235 to $250 could become accessible if the strong barrier at $220 is broken.
Sui (SUI)
Brian says Sui’s MVRV measures indicate it’s not nearly overheated, but as a more recent asset, it still has a lot of potential for growth. In the event that the market turns risk-on, this offers it the possibility of significant rewards.
The news that European investing firm 21Shares has applied for a spot Sui ETF in the United States only heightens the interest. At $4.20, SUI currently faces resistance; if momentum holds, upward goals might reach $4.60 to $5.
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