Market analysis firm MarktQuant has released its latest report, evaluating the current trends and price movements of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Using their proprietary quantitative model, MarktQuant offers insights into the varying momentum and performance of these major cryptocurrencies.
Bitcoin: Slowing Momentum Despite Uptrend
According to the report, Bitcoin‘s valuation score rose to -0.24, signaling an increase in trend momentum. Typically, a move above zero would indicate continued bullish activity, but the recent push on September 26, 2024, failed to sustain a rally.
MarktQuant noted, “While BTC remains in a long-term trend, the weakening momentum suggests that further gains may be limited without stronger buying pressure.” Despite the current long position, Bitcoin’s momentum appears to be waning.
Ethereum: Cautious Optimism with Limited Movement
Ethereum also saw a slight uptick in its valuation score, climbing to -0.69, which reflects a minor increase in positive momentum. However, the report highlights that the system remains in a cash (neutral) position, waiting for clearer signals before any trend reversal is confirmed.
The firm stated, “Although Ethereum’s valuation score indicates a neutral zone, this is not yet sufficient to trigger a trend shift.” As a result, the outlook for ETH remains cautious, with no immediate signs of a bullish breakout.
Solana: Momentum Building for a Potential Breakout
Solana showed notable improvement, with its valuation score rising to -0.46. According to MarktQuant, the upward momentum could soon push SOL into a long position if the current trend continues.
With momentum building, the firm suggested that SOL could be on the verge of entering another long-term uptrend. This positive movement indicates growing interest in the Solana market, but it still requires stronger momentum for a confirmed breakout.
The mixed signals across Bitcoin, Ethereum, and Solana highlight the uncertainty in the cryptocurrency market. While BTC and ETH show signs of slowing momentum, Solana could be gearing up for a strong breakout. As always, investors should closely monitor these trends and adjust their strategies accordingly.
