As of this writing, Bitcoin’s price is holding steady above the $95,000 mark, presenting a tense scenario for the Federal Reserve due to recent U.S. employment data showing signs of weakening. The Fed is not expected to cut rates in its upcoming meeting. However, if Friday’s data also comes out unfavorable, there may be strong indications by June about reverting to the rate reduction trajectory to ease the risk markets. What are the latest forecasts for AVAX, SHIB, and Solana ?
Avalanche (AVAX)
AVAX has been hovering around the $22.2 region since its recent upswing, though it has not been able to turn this region into support despite multiple attempts. This level has consequently weakened. Should the overall market sentiment provide support, we might witness a robust recovery toward $27 with a breakout to the upside.
Shiba Coin and Solana (SOL)
Approximately 21 days ago, SOL Coin surged by around 50% from its previous low. Like XRP Coin, SOL Coin has shown rapid reversals when compared to other cryptocurrencies. This is backed by powerful network activity, TVL, and ETF approval expectations due to being U.S.-based. A greater peak is anticipated this year, but in the short term, an attempt is expected in the $167 region following closes above $150.
Despite ongoing tariff concerns, SOL Coin previously bounced swiftly to the $180 mark due to its crypto reserve. However, it subsequently slid back to $147, a key support level.