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Solana's price surged 63% post-US elections, reaching $256, but has since consolidated, currently trading around $190. NEAR Protocol, while maintaining a strong reputation for scalability, is trending bearish at $5.05, facing a significant drop from its all-time high. Meanwhile, IntelMarkets, a new player in AI-driven trading, has raised over $6.5 million and is poised for growth with advanced trading tools aimed at retail traders.
Solana and Avalanche are in a fierce competition for Layer 1 dominance, each showcasing impressive transaction speeds and ecosystems. Meanwhile, Remittix has emerged with a successful ICO, raising over $2.5M, focusing on cross-border payments and fiat-to-crypto integration, potentially transforming the remittance landscape. As both Solana and Avalanche continue to innovate, Remittix's unique approach may carve out a significant niche in the financial sector.
Solana (SOL) has seen a 14.72% decline over the past week, currently trading at $183 after failing to maintain an uptrend since a local high of $223. Analysts suggest a potential 40% price move if it breaks above $214 or below $183, with targets of $299 and $109, respectively. Market sentiment remains strongly bearish, with a majority of participants taking short positions, indicating expectations of further declines.
Solana has experienced a significant drop of 6.35%, falling below the $175 support level and the 200 EMA, with liquidations reaching $16.69 million. Analysts predict a potential decline to $155 following a bearish breakdown of a symmetrical triangle pattern, while a daily close above $175 could allow for a rebound towards $200. The current market sentiment remains bearish, with open interest decreasing to $5.90 billion and a long-to-short ratio of 0.8854.
The SEC is expected to decide on Solana ETF applications by January 25, but experts predict a delay until March due to upcoming leadership changes. With the anticipated appointment of crypto-friendly Paul Atkins, the chances for Solana and other crypto ETFs may improve, reflecting the significant capital influx seen with Bitcoin ETFs.
Solana (SOL) is currently trading at $180, down 15% this week, with a notable 27% surge in trading volume. Analysts are observing a symmetrical triangle pattern, indicating a potential 40% price swing, while a bullish scenario could see SOL rally 81% to $360 if recent technical indicators hold. The broader cryptocurrency market remains volatile, influenced by Bitcoin's decline, but increased trading activity suggests traders are preparing for significant price movements.
Solana's price has recently shown resilience above the $178.12 support level, despite a 2.70% decline to $180.35. Technical indicators suggest potential upward momentum, with a possibility of breaking resistance at $194.64 if the support holds. Meanwhile, investors are exploring alternatives like Wall Street Pepe ($WEPE), Solaxy ($SOLX), and Best Wallet Token ($BEST), which are currently in presale and may benefit from future market recovery.
Solaxy is an emerging layer 2 solution aimed at enhancing the Solana ecosystem by addressing scalability and transaction speed issues. With off-chain processing and transaction bundling, it promises higher efficiency and reliability, while offering a staking program for its native cryptocurrency, SOLX. The presale is currently active, and early investors are encouraged to participate before the anticipated price surge post-presale.
Solana is experiencing a notable V-shaped recovery, bouncing back from a key support level at $179.66, which aligns with the 61.8% Fibonacci retracement zone. With positive momentum indicated by the rising MVRV ratio and a neutral-to-bullish RSI, traders are eyeing potential bullish targets of $254.35, $302.02, and $345.76, while remaining cautious of market sentiment shifts.
The crypto market is set for growth in early 2025, influenced by Donald Trump's inauguration and anticipated policy changes. His pro-crypto stance may boost Bitcoin, with prices projected between $83,000 and $130,000, while Ethereum could range from $3,100 to $6,000. Increased volatility is expected as macroeconomic factors and regulatory developments unfold.
Solana USD
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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