Solana’s recent surge to a new all-time high of $294 has ignited discussions about its future trajectory, and many are wondering – can ETF rumors help it double its ATH and reach $600?

On the other hand, PlutoChain ($PLUTO) is attracting attention because it could help Bitcoin finally shed its “digital gold” label.

By introducing smart contracts and decentralized applications through its hybrid Layer 2 solution, PlutoChain aims to transform Bitcoin from a simple store of value into a versatile platform for DeFi, NFTs, and AI applications.

SOL Eyes $600 Milestone as ETF Approval Hopes Rise

The potential approval of a Solana-based Exchange-Traded Fund (ETF) could significantly enhance the cryptocurrency’s prospects.

Such an ETF would provide traditional investors with a regulated and accessible avenue to invest in Solana without the complexities of managing digital wallets or navigating cryptocurrency exchanges.

This increased accessibility could lead to a substantial influx of capital into Solana, driving up its market value.

However, Solana’s U.S. ETF launch may face delays until 2026, per Bloomberg analyst James Seyffart. Despite potential progress after President-elect Trump’s Jan. 20, 2025 inauguration, SEC approval could extend beyond the usual 240-260 days, as noted in Seyffart’s Jan. 16, 2025 interview.

The panel of analysts from InvestingHaven gave their medium-term Solana price predictions. They expect the price range from $220 to $750, averaging $450 while Long-term, SOL predictions span $200 to $3,211, averaging $1,000.

Experts from CoinPedia have a more conservative outlook, predicting a potential high of $400 from 2025, but see a potential for $1351 by 2030.

While ETF approval could significantly boost Solana’s price, reaching $600 would require substantial market momentum and investor confidence.

PlutoChain’s 2-Second Block Time Could Solve Bitcoin’s Scalability Issues Using Its Layer-2 Technology

Bitcoin’s dominance in the crypto market is undeniable, but its functionality has long been limited. While Ethereum and Solana have pioneered smart contracts and decentralized applications (dApps), Bitcoin has remained largely a store of value.

PlutoChain ($PLUTO) aims to change that by introducing a hybrid Layer-2 solution that could bring smart contract capabilities directly to Bitcoin.

The project could enable DeFi, NFTs, AI, and the Metaverse, to thrive on Bitcoin’s secure infrastructure.

Its Layer-2 technology offers a block time of just 2 seconds compared to Bitocin’s standard 10-minute block time.

Another standout feature is its Ethereum Virtual Machine (EVM) compatibility. This could allow developers to migrate Ethereum-based dApps effortlessly to Bitcoin, potentially creating a seamless bridge between the two ecosystems.

By removing the dependency on Ethereum, Solana, or Cardano, PlutoChain builds a self-sufficient DeFi environment within Bitcoin.

Its testnet already processes 43,200 daily transactions, proving its scalability. Security is a top priority, with PlutoChain passing independent audits from SolidProof, QuillAudits, and Assure DeFi.

With strong community governance and an enormous innovative potential, PlutoChain could redefine Bitcoin’s role in the near future.

Final words

Any potential Solana’s urge will likely be dependent on ETF acceptance, but delays until 2026 may temper immediate gains.

Meanwhile, PlutoChain could become the one to reshape Bitcoin’s future.

By introducing smart contracts and EVM compatibility, PlutoChain plans to transform Bitcoin into a hub for DeFi, NFTs, and AI. With over 43,200 daily testnet transactions and a 2-second block time, it could solve Bitcoin’s scalability issues.

Remember, this article is not financial or trading advice. All cryptocurrencies are volatile, and past performance is not a guarantee of future results. Always conduct your own research and/or consult with experts before making any crypto-related decisions. Trade responsibly. Forward-looking statements are uncertain and might not be updated.

This article is sponsored content. All information is provided by the sponsor and Brave New Coin (BNC) does not endorse or assume responsibility for the content presented, which is not part of BNC’s editorial. Investing in crypto assets involves significant risk, including the potential loss of principal, and readers are strongly encouraged to conduct their own due diligence before engaging with any company or product mentioned. Brave New Coin disclaims any liability for any damages or losses arising from reliance on the content provided in this article.

Amid the global market meltdown, several meme coins have yet to find solid ground after shedding an average 10% monthly loss. Doge is looking weak on the daily chart as it poises for another dip.

As few meme coins gain traction today, Dogecoin continued to witness a setback in its long-term bullish move following a consistent loss in the past week. Losing grip above $0.4 last month, it extended bearish and is now on the verge of dropping hard.

Notwithstanding, there’s still hope for a positive move if the bulls defend the important $0.3 level well. This level has been acting as support for some weeks, and as we can see, it may also lose grip amid rising supply.

A breakdown at this level could trigger a new selling phase in the near term. While the market sets for another drawdown, it is important to note that Doge’s structure remains bullish on a macro level. An increase above the previous high should bring relief in the selling.

When will such a scenario come into play is yet unknown as the volume level looks low at the moment. But looking at the setup from a technical standpoint, more bloodbath can be expected in the short term. The key level to watch for such a dump would be $0.2.

DOGE’s Key Level To Watch

Now that Doge is gradually losing momentum, the $0.3 level remains a key level for a breakdown. If that occurs, lower support levels to watch for drops are $0.263 and $0.22, followed by $0.18.

There are currently no signs of bulls in the market. However, if they show up again, the immediate level to watch for a bounce is $0.4. The higher resistance level for a test is $0.48 with a potential break to $0.6.

Key Resistance Levels: $0.4, $0.48, $0.6

Key Support Levels: $0.263, $0.22, $0.18

• Spot Price: $0.32
• Trend: Bearish
• Volatility: High 

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Unlike many mid-cap altcoins, Cardano’s ADA is still within a buying range despite posting notable losses in the past weeks. It now trades near a crucial support, where the next market phase will be determined.

ADA’s market structure remains weak due to a steady reduction in the past months. This suggests a strong bearish presence while undergoing a deep correction daily. Still, its mid-term bullish trajectory remains intact.

However, the crucial $0.8 level has been standing as support since it initiated drops two months ago. Technically, things are likely to get uglier soon following the new sell order building up from the $1 level.

As we can see on the daily chart, ADA has been gathering volatility for almost two weeks, subjecting trading to choppy price actions. Due to this, we may see a crash. The key target level to watch would be $0.4.

Currently, the selling pressure is low due to a lack of interest from the bears’ side but we can anticipate a major move when they show strong commitment. That should trigger a heavy supply in the market.

The only condition for a bullish move right now lies in a rebound. If the mentioned crucial level continues to provide support, we can consider an upward movement with a double-bottom pattern. As it stands, the bears are most likely to have an upper hand in the near term.

ADA’s Key Levels to Watch

Breaking down the holding $0.86 support could cause a serious sell-off to $0.765 and $0.65 before reaching the mentioned key target level.

If ADA continues to hold the mentioned level well, we may see a bounce back to $0.988. Retaking January’s $1.152 high should send us to the $1.32 resistance with a potential break up to $1.5.

Key Resistance Levels: $0.988, $1.152, $1.32

Key Support Levels: $0.86, $0.765, $0.69

• Price: $0.93
• Trend: Bearish
• Volatility: Moderate

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: angrysun/123RF // Image Effects by Colorcinch

XRP is trading in a tight range, struggling to break through a key resistance level. Investors are watching closely to see if the price will push higher or if a correction is on the way. In recent weeks, XRP has been moving sideways, hovering just below $3.40, which was its recent high from January 16. This level has become a major hurdle for the cryptocurrency, and a breakout above it could trigger a strong rally. However, if it fails to gain momentum, XRP could see a deeper correction in the coming weeks. Will XRP surge past resistance and target $5 or even $6, or will selling pressure drive the price lower? Let’s take a closer look.

XRP Price Consolidation: A Setup for a Breakout?

Right now, XRP is trading near $3.10, moving sideways without any major price action. This phase of consolidation can often be a sign that the market is gathering strength before making a significant move.

The main level to watch is $3.40. If XRP breaks above this point with strong trading volume, it could confirm the start of a bullish rally. However, if it struggles to clear this resistance, the price may dip back toward lower support levels.

Key Resistance and Support Levels for XRP

Resistance Levels:

• $3.40 – A critical level that needs to be broken for further upside.
• $4.20 – The next target if momentum increases.
• $5.00 – $6.62 – Potential long-term price targets if a strong rally happens.

Support Levels:

• $3.10 – The current price level where XRP is consolidating.
• $2.52 – A key level to hold; a drop below this could lead to a larger correction.
• $1.96 – A possible lower support level if selling pressure increases.

If XRP manages to break above $3.40, the next major price target will be $4.20. This level could act as a temporary barrier before a potential push toward $5 or higher. However, if the price drops below $2.52, a larger correction could take XRP back toward $1.96.

Will XRP Rally or Face a Market Correction?

From a technical perspective, XRP could be in the final phase of a fifth wave rally. This means the cryptocurrency might be approaching the end of a larger bullish cycle. If this wave completes, a market correction could follow.

A correction doesn’t necessarily mean a bearish outlook—it could simply be a healthy pullback before another upward move. However, if selling pressure builds up and XRP fails to break resistance, the price could see a deeper drop in the coming weeks.

The market’s direction will largely depend on trading volume, market sentiment, and broader crypto trends. If demand for XRP increases and more buyers step in, the price could see a strong breakout. But if confidence weakens, a pullback is more likely.

What’s Next for XRP?

XRP is at a critical point in its price movement. If it breaks past $3.40, a push toward $4.20 and beyond could be in the cards. However, if it fails to gain momentum, traders should watch for potential declines toward $2.52 or lower.

With growing interest in cryptocurrencies and market trends shifting, XRP investors should stay alert to trading volume, price action, and key resistance levels. A breakout could bring new all-time highs, but a correction could offer better buying opportunities for long-term holders.

For now, XRP’s February outlook remains uncertain, but the coming weeks will determine whether it’s time for a new rally or a price correction.

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Amid the bearish market sentiment, SOL, the native token of the Solana blockchain, is gaining significant attention from crypto enthusiasts due to its recent price decline. As of today, February 2, 2024, the overall cryptocurrency market has been witnessing a notable price decline. Despite this, SOL has reached a crucial support level with a history of impressive price reversals.

$100 Million Worth SOL Outflow

Looking at the historical price momentum, long-term holders and investors have been accumulating the tokens, as reported by the on-chain analytics firm CoinGlass. Data from spot inflows and outflows revealed that exchanges have witnessed a significant inflow of over $100 million worth of SOL tokens in the past 48 hours.

This outflow from the exchanges indicates potential accumulation, and given the current market sentiment, it seems to be an ideal buying opportunity. It has the potential to create buying pressure and trigger a further upside rally.

However, intraday traders seem to be moving in the opposite direction from of the crypto whales, as they appear to be capitalizing on the current market sentiment.

Traders Bearish View

Data shows that short sellers are significantly bet on the short side. According to the data, $236.30 is a level where short sellers are over-leveraged, holding $175.50 million worth of short positions. Meanwhile, $223 is another over-leveraged level, where bulls hold $46 million worth of open long positions.

When combining this data, it appears that investors and long-term holders are betting on long-term gains and see this as an opportunity, which explains the recent potential accumulation. Meanwhile, short-sellers seem to be taking advantage of the current market sentiment and betting on short-term gains.

Current Price Momentum 

SOL is currently trading near $224.15 and has experienced a price drop of 3% in the past 24 hours. During the same period, its trading volume dropped by 20%, indicating lower participation from traders and investors compared to the previous day.

Solana (SOL) Technical Analysis and Upcoming Levels 

According to expert technical analysis, SOL appears bullish despite the recent accumulation, as it has formed a bearish inverted cup and handle pattern on the daily time frame and is poised for a neckline breakdown.

Based on the recent price action, if SOL breaches the neckline and closes a daily candle below $220, there is a strong possibility that SOL could witness a price drop of over 14% to reach the next support level at $190.

However, this bearish thesis will only hold if SOL closes a daily candle below the neckline; otherwise, it may fail.

The weekend has started with sellers’ pressure, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has declined by 2.25% over the last day.

On the hourly chart, the price of BTC might have set a local support of $101,418. If the growth continues, one can expect a test of the resistance level of $102,744 by tomorrow.

On the bigger time frame, neither bulls nor bears are dominating. However, if the sellers break the vital zone of $100,000, the accumulated energy might be enough for a more profound correction to the $98,000 range.

Related

Such a scenario is relevant for the upcoming week.

From the midterm point of view, sideways trading is the more likely scenario. The volume keeps falling, which means any sharp moves are unlikely to happen shortly.

Bitcoin is trading at $102,018 at press time.

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provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
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decisions. We believe that all content is accurate as of the date of publication,
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The Dogecoin price has manifested acute strength in the past few years after hitting rock bottom levels during the bear market. The Bears have tried hard to restrict the rally each time the price tried to set up a strong ascending trend. As a result, the DOGE price remained consolidated below $0.1 for a long time. However, after the latest upswing, a new ATH appeared to be imminent, but the current trade setup suggests a 20% pullback is fast approaching. 

After Dogecoin & Shiba Inu, Pepe managed to attract massive attention and, in a very short time, became the third largest memecoin as per the market cap. Since then, the PEPE price has been displaying progressive moves. Meanwhile, the pattern that Dogecoin has been following in the past few months has been followed by PEPE. This hints towards a probable pullback if the top memecoin closely replicates the PEPE price rally. 

Source: X

The above charts show a comparison between both price patterns, which suggests DOGE price is closely following the PEPE price that consolidated around the ATH for a while. Meanwhile, the price failed to defend the support around $0.000017, causing a 30% pullback to reach the local bottom close to $0.0000114. Currently, the DOGE price has reached local support and if the bulls fail to initiate a rebound, it may face a 20% pullback. 

What’s Next for the Dogecoin (DOGE) Price Rally?

After the latest pullback, the Dogecoin price has dropped below the ascending trend line, which has been acting as a strong support. Moreover, the price is failing to recover the lost levels, which may raise concerns over the next price action. Hence, the DOGE price seems to be primed to lose support at $0.3 very soon. 

As seen in the above chart, the DOGE price is facing increased upward pressure that may drag the levels towards the support zone between $0.29 and $0.309. As the RSI is decremental and below the descending trend line, bearish targets have been activated for the price. Therefore, the DOGE price is expected to plunge below $0.3 and reach $0.246 at 0.382 FIB. This could be when the RSI may reach the lower threshold. If the levels trigger a rebound, the Dogecoin price may rebound and rise back above $0.3, else a drop to $0.2 could be imminent.