Bitcoin price in line for impulsive bounce as Solana (SOL) leads altcoin surge
09 Sep 2021 #Solana
Things are looking up for Bitcoin and altcoins on Thursday, but the chance of a breakdown remains, one analyst warns. Bitcoin (BTC) volatility is again overdue, and one analyst is favoring an “impulsive” move toward $50,000. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $46,000 on Thursd as an eerie calm lingered over the market.
Tuesday saw mass upheaval as a cascade of unwound positions sparked a huge $9,000 daily loss for Bitcoin, something analysts have since pinned on overleveraged traders. While the event’s lows of $42,800 have not been retested, a breakdown is not off the cards, popular trader Crypto Ed says.
“Looks like a bullish pennant to me...Impulsive bounce followed by consolidation,” he summarized alongside an updated chart Wednesday. “Chill and wait for the break out. Wrong when it breaks down.”
With expectations thus skewed to the upside, fellow trader and analyst Rekt Capital eyed an ongoing retest of Bitcoin’s 50-day exponential moving average (EMA) as a potential game-changer.
“This is the first time that BTC is retesting the blue 50-day EMA as support, after having reclaimed it as support in late July,” he noted. “The 50-day EMA is useful for understanding bullish momentum as it tends to support established uptrends.”
Altcoins recover as Solana passes $200
Improved performance across major altcoins, meanwhile, is giving hope to the bullish short-term case for Bitcoin. While BTC/USD has stayed broadly flat overnight, all of the top 10 cryptocurrencies by market capitalization have posted solid gains of at least 4%. Ether (ETH) added 4.5% to circle $3,470 at the time of writing, while Cardano (ADA) recovered above $2.50. Still outshining the pack, however, is Solana (SOL), now trading above $200 on 32% gains in just 24 hours.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | Volume 24h | |
| 1 |  BTC |
Bitcoin predictions | 78.4% | 36 | $43 085.96 | -1.06% | -0.99% | $811 219 237 866 | $31 154 347 636 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72.8% | 51 | $2 995.89 | -2.88% | -0.73% | $352 615 203 825 | $19 398 346 385 | |
| 3 |  ADA |
Cardano predictions | 66.8% | 75 | $2.19 | -2.78% | 4.85% | $70 222 973 640 | $3 116 899 060 | |
| 4 |  USDT |
Tether predictions | 96% | 1 | $1.000508 | -0.01% | 0.06% | $68 577 822 872 | $71 068 899 614 | |
| 5 |  BNB |
Binance Coin predictions | 68.8% | 65 | $341.32 | -2.13% | -7.03% | $57 388 122 424 | $1 555 748 368 | |
| 6 |  XRP |
XRP predictions | 72.8% | 49 | $0.937804 | -0.90% | 1.05% | $43 811 978 119 | $3 027 320 393 | |
| 7 |  SOL |
Solana predictions | 69.6% | 66 | $140.97 | 2.76% | 1.92% | $41 927 787 826 | $2 899 305 540 | |
| 8 |  USDC |
USD Coin predictions | 91.2% | 1 | $1.000382 | 0.02% | 0.01% | $31 131 613 966 | $3 198 579 010 | |
| 9 |  DOT |
Polkadot predictions | 68.8% | 69 | $28.28 | -3.69% | -2.07% | $27 931 334 671 | $1 725 163 950 | |
| 10 |  DOGE |
Dogecoin predictions | 66.4% | 70 | $0.203144 | -1.88% | -4.12% | $26 705 464 939 | $865 252 649 | |
| 11 |  LUNA |
Terra predictions | 67.6% | 59 | $38.33 | 7.47% | 37.20% | $15 331 923 428 | $1 698 547 134 | |
| 12 |  AVAX |
Avalanche predictions | 58.8% | 85 | $68.09 | 0.67% | 14.92% | $14 998 801 484 | $1 254 781 240 | |
| 13 |  UNI |
UniSwap predictions | 65.2% | 70 | $22.95 | -6.14% | 7.70% | $14 034 322 529 | $1 164 508 712 | |
| 14 |  BUSD |
Binance USD predictions | 92% | 1 | $1.000300 | 0.02% | 0.02% | $13 519 244 531 | $5 111 421 269 | |
| 15 |  LINK |
Chainlink predictions | 63.6% | 70 | $23.60 | -5.17% | -1.55% | $10 736 258 209 | $1 106 679 987 |
