Solana found support at $90 and corrected some losses. SOL price is now consolidating below $94 and might struggle to continue higher. SOL price started a decent recovery wave above $91 and $92 against the US Dollar. The price is now trading below $94 and the 100-hourly simple moving average. There is a bearish trend line forming with resistance at $92.90 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could continue to move up if it clears $92.90 and $94.00. Solana Price Starts Recovery Solana price remained stable and started a decent recovery wave from $90, like Bitcoin and Ethereum. SOL was able to climb above the $91.50 level. There was a move above the 50% Fib retracement level of the downward move from the $95.92 swing high to the $89.89 low. However, the bears remained active below $94. There is also a bearish trend line forming with resistance at $92.90 on the hourly chart of the SOL/USD pair. Solana is now trading below $92 and the 100-hourly simp
The post Solana Price Prediction: $98 Wall Keeps SOL Trapped appeared on BitcoinEthereumNews.com.
Solana is testing a key setup after sellers rejected SOL near the $98 resistance zone. However, the price still holds important short term support, keeping the breakout scenario alive for now. Solana Price Faces $98 Breakout Test After Channel Rejection Solana price is trading near the upper part of its daily range after a failed attempt to break the $98 resistance level, according to the SOL chart shared by Ali Charts. The chart shows SOL moving inside a defined channel since February. The lower boundary sits near $78.17, while the upper boundary stands near $97.79. The mid-range area is around $88.02, with another key level near $92.89 Solana Daily Channel Chart. Source: Ali Charts on X SOL recently tested the channel ceiling near $98 but faced a quick rejection. After that move, the price pulled back toward the $91 area. This shows that sellers still control the upper range for now. How
The post US Dollar Index (DXY) rallies above 99.00 amid soaring US yields appeared on BitcoinEthereumNews.com.
The US Dollar (USD) is outperforming this week, fuelled by higher US Treasury yields as solid macroeconomic data and high inflationary pressures have boosted expectations of Federal Reserve (Fed) rate hikes later in the year. The US Dollar Index (DXY), which measures the value of the Dollar against a basket of peers, is trading at five-week highs, at 99.20, at the time of writing, on track for its best weekly performance in two months, after rallying about 1.30% in the last five days. US Retail Sales data released on Thursday revealed that consumption remained resilient in April, and weekly Initial Jobless Claims provided further signals of a stabilising labour market, despite the war in the Middle East. Consumer and producer inflation data released earlier in the week, on the other hand, have shown that the impact of the energy shock has been stronger than expected. These fig
The post Swiss Franc Slides As Risk Aversion Fuels US Dollar Demand appeared on BitcoinEthereumNews.com.
Swiss Franc Slides As Risk Aversion Fuels US Dollar Demand Skip to content
Home Forex News Swiss Franc Slides as Risk Aversion Fuels US Dollar Demand
Source: https://bitcoinworld.co.in/swiss-franc-declines-usd-strength-risk-off/
The post AUD/USD Price Forecast: Near-term bias turns bearish as correction extends below 20-day EMA appeared on BitcoinEthereumNews.com.
The AUD/USD pair trades 0.8% lower to near 0.7160 against the US Dollar (USD) during the European trading session on Friday. The Aussie pair faces intense selling pressure as the US Dollar outperforms its peers amid a significant surge in US Treasury yields. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.26% 0.48% 0.10% 0.19% 0.80% 0.80% 0.23% EUR -0.26% 0.21% -0.17% -0.09% 0.54% 0.57% -0.02% GBP -0.48% -0.21% -0.34% -0.29% 0.34% 0.35% -0.23% JPY -0.10% 0.17% 0.34% 0.08% 0.69% 0.71% 0.13% CAD -0.19% 0.09% 0.29% -0.08% 0.59% 0.60% 0.05% AUD -0.80% -0.54% -0.34% -0.69% -0.59% 0.02% -0.56% NZD -0.80% -0.57% -0.35% -0.71% -0.60% -0.02% -0.58% CHF -0.23% 0.02% 0.23% -0.13% -0.05% 0.5
The post US Dollar: Strong data supports Dollar gains – Rabobank appeared on BitcoinEthereumNews.com.
Rabobank strategist Molly Schwartz notes that hotter US trade price data for April pushed United States (US) Treasury yields higher, with import and export prices rising at their fastest monthly pace since early 2022. The report highlights that the US Dollar (USD) was the best performing G10 currency on a one-day view as two-year yields moved back above 4.00%. Hotter prices lift yields and USD “US Treasury yields closed higher after hotter-than-expected trade price data for April printed, with import prices up 1.9% m/m and export prices up 3.3% m/m.” “These were the fastest monthly price index increases since early 2022 for both.” “However, the import price index, excluding petroleum, registered more modest gains of only 0.7% which, while hotter than the expected print of 0.5%, is cooler than levels seen as recently as January and February of this year.” “Yesterday afternoon saw a surg
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The post The $100 roadblock – Why Solana’s ETF inflows couldn’t shatter the range highs appeared on BitcoinEthereumNews.com.
A recent AMBCrypto report found that Solana [SOL] had rallied 10x what Bitcoin [BTC] had rallied at one point in May. The reason behind this outperformance was a combination of growing institutional support for SOL and strong spot ETF inflows. As a result, the SOL/BTC hike measured 9%, indicating a greater risk appetite among Solana buyers. And yet, despite the good performance, the altcoin has faced losses over the past three days. Tokenized stock activity and ETF inflows were not enough to drive the prices higher. SOL faced rejection from just below the psychological $100-resistance on Monday, 11 May. Hence, the question – Is this a temporary roadblock, or have the bulls pushed SOL as far as it would go? The range formation and cautious Solana outlook Source: SOL/USDT on TradingView In March, Solana broke the $94 local high but stopped short of the $100-mark, f
