Solana (SOL), Story (IP) and Ethereum (ETH) Prices Prepare for Rebound
Altcoin market took a severe blow last weekend Baybit Exchange’s $1.5 billion hacking attackresulting in a sharp drop in several altcoins. But traders are now bullish on the strong recovery rate of alternative token prices as Bitcoin grows toward the $100,000 mark. In the upcoming week, we can see promising movements on prices for Solana, Story and Ethereum.
Ethdenver may spark new Altcoin interest
Ethereum is the main altcoin to watch next week as it can lead altcoin rally, especially at the Ethdenver 2025 conference which begins on February 23.
The focus of this major event is Ethereum and often triggers the introduction of new projects, the latest developments in Tier 2 technology, and the development of decentralized finance (DEFI). As Ethereum accumulates and aggregates interest increases, any major announcement or partnership at the conference can greatly increase the value of Ethereum.
Additionally, the recent buzz around SOL ETFs can help boost Solana’s price. Overall, any regulatory changes or news could pave the way for a rebound in substitute prices.
Solana price analysis
The cryptocurrency market is bounced, thus making a significant price correction to the SOL after the Bybit Hack. Buyers are currently priced above 23.6% of the FIB channel. Currently, SOL is trading at $171, down 0.2% in the past 24 hours.
SOL/USDT transactions face challenges below $180, indicating that sellers have strong control at this level. This can be a major obstacle as short-term holders may sell at this price. However, if demand increases, buyers may soon surpass this level.
If the price drops below the EMA20 trendline on the 1-hour chart, sellers may try to push it to the $160 support level.
Meanwhile, as the relative intensity index (RSI) hovers around 46 at the midline, it may lead to retesting of the upper limit channel. If the price stays above $180, that would be beneficial for the buyer and could put the price up to $219.
Story (IP) Price Analysis
The story has dropped significantly after buyers failed to keep the level at $9. This decline has weakened buyer confidence to push prices upward. Currently, IP prices are trading at $4.46, down 0.4% in the past 24 hours.
The IP/USDT pair is targeting $5.3, but may face significant resistance that could lead to a backup to $4. However, with the relative strength index (RSI) of 48, around the midline, story price may continue to see a strong buying interest.
If the price drops above $5.3, it may be corrected for $6.9. On the other hand, if the price is below $4.1, the price may drop to around $3.
Ethereum price analysis
Ethereum prices rebounded strongly after Bybit Hack. Buyers pushed ETH prices to a key level of $2,800. As of this writing, ETH Price is trading at $2,826, up 2.3% over the past 24 hours.
If Ether moves below 20-day EMA $2,737, the seller may try to increase the ETH/USDT pair at a price below $2,500. If successful, the price could drop further to $2,400, possibly to $2,300.
Conversely, if the price rises by $2,850, it may reach the downtrend line. While sellers may defend this level, the two could soar to $3,300 if the buyer manages to break through.
