The global crypto markets continue to show strength as Bitcoin price aims for another retest of the $69,000 level. On Friday morning, Ethereum price surged, continued its weekly ascent and refreshed its two-year highs at $3,947. While ETH is about to hit the $4,000 mark, Solana price targets the $150 level. At press time, ETH and SOL stood at $145.65 and $3,925, respectively.
BTC price surged to $67,980 on Thursday as the bulls attempted to take out the weekly highs around $69,000. However, the failed breakout attempt pushed the price back toward the $65,600 mark. In the last 48 hours, price action shows a healthy consolidation below the weekly highs with support around the $65,500 mark.
The sideways movement of Bitcoin which is the most liquid asset in the digital world has caused an uptick in the altcoin market with ETH price inching closer to $4,000. Bulls are anticipating Ethereum to trade at this significant psychological level anytime now.
As mentioned in my last analysis, SOL/USD is gravitating toward the fair value gap above $157. The digital asset's price fell short of the $150 mark by a few cents in its last trading session and stood at $144 at press time. The recent surge in Ethereum and Solana prices has lifted the overall market capitalization of the altcoin market. As a result, the Total 3 market cap gained 0.55% on Friday.
On the basis of technical analysis, we can say that the next target for the price could be the $163 mark, which is the 0.618 fib retracement level. However, this retest might only occur if Bitcoin doesn't experience any major pullback. This Solana price prediction will remain valid as long as the $111-$118 demand zone holds.
The bull run in the dogcoins continues, and FLOKI Inu led the gains on Friday, which resulted in a remarkable 40% surge in the last 24 hours. WIF and DOGE also followed with 18% and 6.6% gains, respectively. However, the markets are getting overheated after across-the-board surges in the memecoins. Managing risk in this meme frenzy season is necessary, as a major correction in Bitcoin can send these coins tanking.
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