The altcoin market experienced significant turbulence last weekend after a $1.5 billion hack on the Bybit exchange. However, with Bitcoin surging toward the $100K mark, many traders are optimistic about a strong recovery in altcoin prices. In the upcoming week, the spotlight will be on Solana (SOL) and Ethereum (ETH), both of which are primed for potential growth.
ETHDenver 2025: A Catalyst for Ethereum’s Growth
Ethereum is one of the most closely watched altcoins next week, with ETHDenver 2025 kicking off on February 23. This major event traditionally sparks innovation, featuring updates on Ethereum’s Layer 2 scaling solutions, decentralized finance (DeFi) developments, and new project announcements. With growing institutional interest in Ethereum staking and rollups, the event could catalyze a surge in ETH prices.
Additionally, the recent buzz surrounding a possible Solana ETF has fueled optimism for the future of Solana. If there are any regulatory changes or positive news about either Ethereum or Solana, we could see significant gains in their respective prices.
Solana Price Analysis: Overcoming Resistance
Solana’s price has seen a correction after the Bybit hack, but the market is showing signs of recovery. Currently trading at $171, SOL has faced resistance at the $180 level, which is proving difficult to break. If buying pressure continues to build, the price may soon push past this barrier, potentially reaching $219.
On the downside, if SOL drops below the EMA20 trend line, it could find support at $160. The Relative Strength Index (RSI) currently hovers around 46, indicating potential for a retest of the resistance.
Ethereum Price Analysis: Rebound Continues
Ethereum has been making a strong rebound, trading at $2,826, up by 2.3% in the last 24 hours. If ETH continues to move upward, it could reach the key level of $2,850. Should the price break above this level, Ethereum might be poised for further gains, possibly surging toward $3,300.
However, if the price falls below the 20-day EMA at $2,737, the price could drop to $2,500 and further to $2,300. The price action next week will be crucial in determining whether Ethereum can maintain its upward momentum.
With both Solana and Ethereum showing promising signs, next week could be pivotal for altcoin investors as these two leading altcoins position themselves for potential price rebounds. Stay tuned as market dynamics continue to unfold.
Also read:XRP Price Prediction 2025-2030: Will Ripple Reach New All-Time Highs?
