Bitcoin price in line for impulsive bounce as Solana (SOL) leads altcoin surge
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 | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 73.2% | 55 | $42 798.37 | -0.61% | 1.96% | $810 244 910 076 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 68% | 68 | $3 288.08 | -0.93% | 4.18% | $391 908 921 176 |  |
|
| 3 |  BNB |
Binance Coin predictions | 70.4% | 52 | $486.03 | -1.28% | 10.69% | $81 070 817 335 |  |
|
| 4 |  USDT |
Tether predictions | 96% | 1 | $1.000293 | -0.01% | 0.02% | $78 422 507 589 |  |
|
| 5 |  ADA |
Cardano predictions | 75.6% | 52 | $1.47 | 9.41% | 26.14% | $49 180 930 341 |  |
|
| 6 |  USDC |
USD Coin predictions | 95.6% | 1 | $0.999403 | -0.03% | -0.13% | $45 444 626 250 |  |
|
| 7 |  SOL |
Solana predictions | 65.6% | 78 | $143.58 | -2.42% | 2.15% | $45 085 165 160 |  |
|
| 8 |  XRP |
XRP predictions | 71.6% | 58 | $0.770542 | -1.02% | 2.14% | $36 726 427 109 |  |
|
| 9 |  LUNA |
Terra predictions | 70% | 59 | $83.96 | -2.70% | 15.15% | $30 105 929 387 |  |
|
| 10 |  DOT |
Polkadot predictions | 71.6% | 53 | $26.64 | -5.58% | 6.85% | $26 304 651 272 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 76.8% | 46 | $0.171858 | -4.91% | 13.62% | $22 800 590 095 |  |
|
| 12 |  AVAX |
Avalanche predictions | 63.6% | 76 | $90.03 | -2.50% | 1.10% | $21 999 747 677 |  |
|
| 13 |  MATIC |
Polygon predictions | 71.6% | 54 | $2.40 | 2.86% | 13.87% | $17 560 566 970 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 70% | 59 | $0.000029 | -3.15% | 3.87% | $16 190 359 531 |  |
|
| 15 |  BUSD |
Binance USD predictions | 94% | 1 | $1.000887 | -0.02% | -0.04% | $14 460 011 930 |  |
