The 12-day raging battle between the Israeli Defense Forces (IDF) and the Iranians came to an end when the two agreed to a ceasefire yesterday. Even when the war was at its most intense, the crypto market was fairly doing good. BTC dipped just below the psychological $100K, to 98K. Following the dip, the top crypto bounced back in style breaking above the $100K mark.
In particular, BTC is trading at $105.8 K after gaining 4% in value within the past 24 hours, and has become the second-best trending crypto. Ethereum, which was priced at $2.38K was third on the trending list after gaining 5.5% in the last 24 hours. The Ethereum killer, aka Solana, was next to Ethereum on the list as it exchanged hands at $143 after gaining 7% within the last day.
ETH/BTC (Source: Tradingview)
Since early May 2025, Ethereum has gained strength against BTC on the daily chart. The Ethereum/Bitcoin pair hit its lowest price of 0.01869 before it took off. Following this spike, the ETH/BTC pair was rejected at 0.026 shortly after, which made it consolidate in a tight range between 0.022 and 0.026.
As the ETH/BTC pair fell below the 50-day moving average, it indicates a bearish outlook in the market. Nonetheless, there could be light at the end of the tunnel as the 50-day MA is moving close to the 200-day MA from below, and there is a possibility of a Golden Cross. When a Golden Cross happens, the price could appreciate and the ETH/BTC pair could test the 0.026 level, as shown in the graph.
SOL/USDT (Source: Tradingview)
The Ethereum killer —Solana has formed a bull flag on the daily chart. It is currently fluctuating inside the flag, hitting the upper and lower trendlines. Once the flag is fully formed, there could be a breakout and SOL could reach as high $205, once it clears the resistance level at $160. However, a breakout might not be coming soon as the Moving averages are horizontal, which denotes that the market is consolidating.
Please note that all price predictions are based on data analysis and are provided for informational purposes only. They do not constitute financial advice. Altcoin Desk is not liable for any financial decisions you make.
