The current price of Bitcoin is at $63,600, with trading volumes dropping over the weekend as April comes to a close. It raises questions about the price predictions for Solana and Avalanche in May and how investors should prepare for potential volatility.

Solana (SOL) Price Forecast

May is expected to bring about significant events impacting the volatility of cryptocurrencies, such as interest rate decisions, outlook comments by Powell, and April inflation data. However, weaknesses in Spot Bitcoin ETF, macroeconomic uncertainties, and other risks pose threats to optimistic expectations for May. For Solana (SOL) to have a successful month, prices need to surpass $145 to resume an upward trend. Reclaiming the $160 threshold would set the stage for reaching resistance levels at $183 and $205. Conversely, dropping below the $127 support could accelerate sales, leading to price levels of $117, $98, and $80—one of the quietest periods in the market between May and July, known as the "sell and go on vacation" period.

Avalanche (AVAX) Overview

Unlike SOL Coin, Avalanche (AVAX) did not experience significant gains at the start of 2024, with the price currently at $34.8. It remains below the parallel channel's $50 resistance level, crucial for targeting triple digits. The current price is testing the $31.6 base support after losing the resistance, with the possibility of continued sales down to $21 if the base support is breached. In a more positive scenario, closures above the $50, $52 levels may pave the way for a retest of the $65 resistance.

The post originally appeared on COINTURK NEWS: Key Price Predictions for Solana and Avalanche in May.