As we pass the midpoint of the new year’s first month, cryptocurrencies are showing resilience, recovering from their haunting moves from the last quarter. Though the delay in crypto legislation caused a brief dip in BTC prices, investors are hopeful following a rally that signals the end of overselling. This article examines the predictions for SOL, ADA, and HYPE moving forward.
ADA Coin and HYPE Price Forecast
Hyperliquid, a leading player in the next-generation DEX world, continues to face new competition. With LIT and Genius entering the arena, and Aster releasing a token last year with CZ’s backing, there’s notable excitement. Genius is also supported by CZ, anticipating significant growth in the new DEX space, which bodes well for HYPE Coin.
Lark Davis, sharing a chart, highlighted a rapid recovery potential following a major drop from the ATH level.
“HYPE has corrected over 60% from last year’s ATH. However, signs of a possible reversal are emerging. The price has risen again to hover around the 9-day and 21-day EMAs. Momentum is improving, RSI is trending upwards to reclaim the mid-range, and OBV has flattened. While it’s not yet a definite trend reversal, trading activity is forming here.”
A $28 return will confirm the region, and closures above this resistance could further entice investors.
Cardano (ADA) is among the altcoins making moves this year. Martinez, sharing a chart, targeted $0.496 and $0.517 in the short term.
“Cardano ADA might be forming a cup and handle pattern. Should it rise above $0.423, the $0.517 level could become a target.”
Solana (SOL)
Solana (SOL), which quickly responded to upward movements last year, has been quiet for some time. Ranked just after Ethereum as the third most appealing cryptocurrency, SOL Coin stood at $143 at the time of writing.
Ryan Scott noted a slow yet steady movement towards $145, indicating a major surge is about to begin. His target is $170.
“Now, this is not just good price movement but most likely the Morgan Stanley ETF is coming, supported by an RIA army capable of distributing it on a large scale. This significantly differs from most other options now. Morgan Stanley is a wirehouse with a real sales machine behind it, framing it not just as another altcoin but as an institutionally packaged asset.”