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24 06, 2024

Crypto News Digest by U.Today

By |2024-06-24T20:38:09+03:00June 24, 2024|Crypto News, News|0 Comments


What happened in the world of crypto over the weekend? Read U.Today’s news digest to find out!

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U.Today has prepared a summary of the top three news stories over the weekend. 

Schiff predicts Bitcoin price will keep falling for several years

On Friday, June 21, Peter Schiff heaped yet another portion of criticism on Bitcoin, the flagship cryptocurrency. In his X post, Schiff noted that since achieving its all-time high on March 14, BTC is down 14%, despite buying from 11 spot Bitcoin ETFs. The digital asset’s results fade in comparison with gold; over the same period, the yellow metal managed to grow by 10%. In addition to this, the loss of those who sold their gold ETFs in order to purchase Bitcoin ones constitutes as much as 24%. “How long before they realize they made a mistake?” Schiff asks. The post by a vocal BTC opponent gained lots of attention from both supporters and naysayers. Replying to a comment by a user who believes that Bitcoin will still hit the $100,000 level no matter what, Schiff issued a grim prediction: “You can keep looking at that chart for the next several years while the price of Bitcoin continues to fall and the price of gold continues to rise.”

Ripple CEO hails “big win” in California

In a recent X post, Ripple CEO Brad Garlinghouse celebrated a “big win” in the latest California legal case against his company. As a reminder, on Thursday, Judge Phyllis Hamilton dismissed four claims regarding Ripple’s alleged violation of federal securities law, with only one state law claim, based on the CEO’s statements about XRP made in a 2017 interview, proceeding to trial. Garlinghouse added that “absolutely nothing in the decision negates or changes the fact that XRP is, in and of itself, not a security (per the NY Court decision).” This follows attorney Fred Rispoli’s assumption that the XRP token might end up being recognized as a security in the Golden State. Commenting on the claim that will go to trial, Garlinghouse criticized it as an unsuccessful attempt by “trolls” to take advantage of the U.S. legal system in order to “seek 100’s of millions in class action settlements.”

Shiba Inu (SHIB) skyrockets 2,682% with no price momentum

According to Shibburn’s report on its X handle, on Sunday, Shiba Inu’s burn rate witnessed an astonishing spike of 2,682%. The increase in this crucial metric was reached thanks to the SHIB community that removed 18,617,208 SHIB from circulation. However, the burn rate surge did not affect the price of the dog-themed meme token; currently, SHIB is changing hands at $0.00001685, down 6.76% over the past 24 hours, per CoinMarketCap. This modest price movement could be explained by several factors. The crypto market’s overall sentiment was mainly dismal, with Bitcoin dipping to an over one-month low. The performance of top digital assets such as Bitcoin and Ethereum often impacts the overall crypto market. If these cryptos are experiencing volatility or downward trends, it might be challenging for altcoins like SHIB to gain traction.

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24 06, 2024

Can Solana Break Out To $200?

By |2024-06-24T18:37:25+03:00June 24, 2024|Crypto News, News|0 Comments

DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please .

TLDR

  • Solana’s price is consolidating in a symmetrical triangle, with a likely bullish breakout targeting $292.
  • Rebel Satoshi Arcade gains traction with its innovative NFT integration and staking system, attracting investors seeking high returns in the crypto gaming sector.
  • RECQ’s successful presale and strategic pricing make it a compelling investment.

The price of Solana (SOL) has been trending inside a symmetrical triangle, which can resolve in either direction. Notably, given its preceding uptrend, the triangle will likely break out to the upside. This could result in a 63% rally to $292, with potential resistance at $157, $196, $228, and $267.

Despite the current outlook of the market, the trading volume for Solana went up 153%, clearly showing more interest from investors. Statistics substantiate this spike of activity on the network, as the number of active addresses on the network itself touched an all-time high of 41.65 million in May. According to The Block, June active addresses have reached half of those recorded last month.

The Aggregated Solana Open Interest (OI) has recently been on a downtrend, indicating that money flows out from the asset. On the other hand, at $1.36B, SOL OI shows solid support from which money may flow back into the asset once more. 

Solana’s price action is trending below the 50-day but above the 200-day simple moving averages (SMA), showing there may be some struggle between the bulls and the bears. The 200-day SMA provides support, while the 50-day SMA provides resistance. A break to the upside from the symmetrical triangle could result in a large price appreciation and present an excellent opportunity for those investors looking to profit from this potential upside in Solana.

While the trading volume of Solana skyrockets, Rebel Satoshi Arcade (RECQ) is another making big waves within the crypto market. Investors are rushing to Rebel Satoshi because it boasts a dual-token ecosystem, differentiating it from conventional meme coins. The platform’s ecosystem includes a trending NFT marketplace, an arcade, and a stake-to-earn program.

Rebel Satoshi Arcade (RECQ): Redefining Crypto Gaming with NFTs and Staking

Rebel Satoshi Arcade is one of the new gaming tokens that seeks to revolutionize the crypto space, empower the silent majority, and drive change in the crypto market. In a spirit of unity and defiance, Rebel Satoshi Arcade is looking to break the status quo, pushing for a new era of decentralization. The presale growth of this project captured the hearts of crypto investors.

The project integration of an NFT collection into its ecosystem further bolsters its position as the best crypto investment with the potential for substantial market returns. The project will unveil two highly anticipated trending NFT collections featuring 9,999 unique characters from the Rebel Satoshi universe. Beyond digital art and collectibles, each NFT stands for the very essence of unity, bravery, and defiance that fuels this community’s quest against tyranny.

The platform’s staking system has also attracted community members searching for the best gaming tokens to buy. Members can stake RECQ tokens to strengthen the Rebel Satoshi ecosystem while earning rewards based on the number of tokens staked and the duration they are staked for. The staking system is designed to be open, efficient, and fair, distributing rewards automatically among participants.

The presale of the RECQ platform has seen an extraordinary surge, with over 583 million tokens sold. Currently, in stage 2, each RECQ token is priced at a remarkably low $0.0044. Industry experts are optimistic about the platform’s potential, forecasting a value increase 100x after launch.

Conclusion

The Sol trading volume is at all-time highs, and there’s an optimism that Solana could break out towards $200. Meanwhile, Rebel Satoshi Arcade leads the crypto revolution with a very strong community support. With its unique NFT collections, efficient staking system, and promising tokenomics, Rebel Satoshi is all set to be the best crypto investment opportunity in the crypto market. 

For the latest updates and more information, be sure to visit the official Rebel Satoshi Website or contact Rebel Red via Telegram.

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24 06, 2024

How To Survive Escalating DOGE Price Dive

By |2024-06-24T16:36:45+03:00June 24, 2024|Crypto News, News|0 Comments

Dogecoin Price Prediction: DOGE, a leading meme coin, has experienced a significant downturn over the past 24 hours after the bearish trend. As of the time of the report, Dogecoin price is trading at $0.1159, with a strong decrease of 7.30% in the European trading session. 

According to data from CoinMarketCap, Dogecoin now ranks ninth by market capitalization, which has also dipped by 7% to $17 billion. The trading volume substantially increased, up 124% to approximately $724 million over the last 24 hours.

Dogecoin Price Prediction: Anticipating the Next Moves

The meme coin Dogecoin has entered a phase of market stabilization over the last week, with its price orbiting the $0.12 mark. In recent times, specifically since early June, the cryptocurrency has seen a 26% reduction in value, breaching a critical level at $0.16. 

This shift has contributed to a pessimistic sentiment among traders, resulting in a downward price action. During the past week, Dogecoin’s trading activity fluctuated between $0.12 and $0.1180, mirroring broader market volatility prompted by a decrease in Bitcoin price, now below $63,000.

Dogecoin Price Prediction

This bearish trend is further evidenced by a 13% decrease in the daily count of active DOGE addresses engaging in transactions, as reported by analytics firm Santiment. Moreover, data from IntoTheBlock indicates a noticeable drop in the volume of large Dogecoin transactions within the last 30 days, signaling a potential pullback by major investors.

Technical Indicators Point to Continued Bearishness

Dogecoin is currently teetering on a pivotal support level. If this level breaks, DOGE could push the price below $0.11. 

Such a move would likely target a descent to the $0.1 support area. A further souring in market sentiment could drag Dogecoin down to the $0.09 mark. This scenario would indicate a market heavily dominated by sellers.

Conversely, a revival in bullish forces might drive the Dogecoin price prediction above the $0.12 threshold. Crossing this barrier could set the stage for an ascent toward $0.15, and if bulls mount more pressure, Surpassing the $0.2 mark could alter its typical trading dynamics, potentially setting sights on a $0.3 peak. 

The daily technical indicators for Dogecoin show that the cryptocurrency is in a downward trend. The Moving Average Convergence Divergence (MACD) shows a bearish signal. The MACD and signal lines trend below zero, generally indicating a selling opportunity. The Relative Strength Index (RSI) suggests that Dogecoin is entering oversold territory.

Dogecoin Price Prediction: Source: Tradingview

The Awesome Oscillator (AO) displayed a value of -0.02462, signaling potential bearish momentum as the red bars on the histogram extend below the zero line. The Average Directional Index (ADX) also stands at 39, suggesting a strong directional movement.

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24 06, 2024

AI predicts XRP price for July 1, 2024

By |2024-06-24T14:36:05+03:00June 24, 2024|Crypto News, News|0 Comments

In 2024, as in the years before, hope that XRP will rally to reclaim its place among the major cryptocurrencies has persisted and has even been spurred on by some positive, though uncertain, developments in Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC).

Despite the hopes, the token has experienced significant volatility since the year started, and despite going through a significant rally in March, XRP price today stands near $0.48, and the cryptocurrency is 22.69% below its January 1 value.

XRP YTD price chart. Source: Finbold

Keeping both the optimism and the depressing effects of the courtroom fight against the regulator in mind, FInbold decided to consult some of the most prominent artificial intelligence (AI) models on where XRP might stand on July 1.

AI predicts July 1 price of XRP

The first to offer a July 1 price target for XRP was OpenAI’s advanced ChatGPT-4o model. The AI concluded that the token has traded in such a way in 2024 that anything other than a conservative prediction – placing it at $0.50 in one week’s time – would be unreasonable.

ChatGPT forecasts XRP price for July 1. Source: Finbold & ChatGPT

Microsoft (NASDAQ: MSFT) Copilot – or at least its ‘balanced’ mode – proved highly diligent and offered 3 price targets. According to Copilot, XRP will rise to $0.519 in the worst-case scenario, to $0.583 in the best-case, but is mostly likely to climb to $0.559.

Copilot forecasts XRP price for July 1. Source: Finbold & Copilot

In many ways, Alphabet’s (NASDAQ: GOOGL) Gemini – formerly known as Google Bard – was, in many ways, the biggest outlier. Not only did the platform state that XRP is poised for a rally in the coming days, but it estimated it would reach a new yearly high on July 1 and find itself at $0.82.

Gemini forecasts XRP price for July 1. Source: Finbold & Gemini

The last to be consulted were the machine learning, AI-driven algorithms of a platform specialized in predicting the future prices of various assets – PricePredictions. According to the platform, XPR is likely to fall in the coming week and stand at $0.448881 in seven days time.

XRP price prediction for July 1. Source: PricePredictions

Finally, it is interesting to note that while all models except for Gemini were outwardly bearish on the token, PricePredictions was the only platform to forecast an actual price drop.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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24 06, 2024

XRP Price Prediction for June 23

By |2024-06-24T00:30:34+03:00June 24, 2024|Crypto News, News|0 Comments


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The market is mainly trading sideways on the last day of the week, according to CoinMarketCap.

XRP chart by CoinMarketCap

XRP/USD

The price of XRP has fallen by 0.45% over the last 24 hours.

Image by TradingView
On the hourly chart, the rate of XRP is about to break the local support level of $0.4845. If a breakout happens, the correction may continue to the $0.4830 range. Such a scenario is relevant until tomorrow.

Image by TradingView
On the bigger time frame, there are no key levels nearby. In this regard, one should pay attention to the candle closure in terms of yesterday’s bar low.

If it happens below, the fall may lead to a test of the $0.48 area.

Image by TradingView

A less clear picture is on the weekly time frame. The weekly bar is about to close far from its low and peak. It means neither side has accumulated enough strength for a further move. All in all, sideways trading in the narrow range of $0.47-$0.49 is the more likely scenario until the end of the month.

XRP is trading at $0.4845 at press time.

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23 06, 2024

XRP Price Prediction for June 23

By |2024-06-23T20:28:05+03:00June 23, 2024|Crypto News, News|0 Comments

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The market is mainly trading sideways on the last day of the week, according to CoinMarketCap.

XRP chart by CoinMarketCap

XRP/USD

The price of XRP has fallen by 0.45% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of XRP is about to break the local support level of $0.4845. If a breakout happens, the correction may continue to the $0.4830 range. Such a scenario is relevant until tomorrow.

Image by TradingView

On the bigger time frame, there are no key levels nearby. In this regard, one should pay attention to the candle closure in terms of yesterday’s bar low.

Related

If it happens below, the fall may lead to a test of the $0.48 area.

Image by TradingView

A less clear picture is on the weekly time frame. The weekly bar is about to close far from its low and peak. It means neither side has accumulated enough strength for a further move. All in all, sideways trading in the narrow range of $0.47-$0.49 is the more likely scenario until the end of the month.

XRP is trading at $0.4845 at press time.

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23 06, 2024

Top Tokens To Retest Their Crucial Support?

By |2024-06-23T16:25:18+03:00June 23, 2024|Crypto News, News|0 Comments

The crypto market has constantly traded under a bearish sentiment for a brief period, indicating an increase in the selling pressure within the crypto space. Moreover, the market leader, BTC price has failed to hold its value above the $65,000 mark.

Following in its footsteps, the altcoin leader, the Ethereum token has recorded a consolidated price action over the past week. Further, Ripple’s XRP coin price has also failed to hold its value above its important support trendline of $0.50.

With the rising bearish sentiment among the top cryptocurrencies, will market leaders make a comeback during the upcoming week or plunge toward their respective crucial support levels?

Bitcoin (BTC):

The BTC price continues to display a weak price action by recording a correction of approximately 1% within the past day with a change of -61.28% in its trading volume. Moreover, it has dropped 2.48% within the past seven days and 7.22% over the past 30 days.

TradingView: BTC/USDT

The EMA 50-day constantly acts as a resistance to the Bitcoin price chart in the 1D time frame, suggesting a weak price action for the star crypto in the market.

The technical indicator, MACD, has recorded a constant decline in the red histogram. However, its averages continue to display a downtrend, suggesting a mixed price sentiment.

If the market regains momentum, the BTC coin price will retest its resistance level of $67,775 in the coming time. Conversely, if the bears continue to dominate the market, the price of Bitcoin will plunge toward its important support level of $60,819.50.

Ethereum (ETH):

After displaying a sideways for over a week, the ETH price has formed a symmetric triangle pattern in the 1D time frame. Moreover, with a drop of 1% in valuation within the past 24 hours, the altcoin is on the verge of testing its support trendline with an unpredictable outcome.

TradingView: ETH/USDT

The Simple Moving Average (SMA) has displayed a bearish trend in the Ethereum price chart, highlighting a weak bullish sentiment in the crypto space.

Moreover, the RSI indicator continues to display a constant decline with its average dropping below the mid-point. This indicates a rising disinterest of investors in this altcoin.

If the bulls regain control over the bears, the Ethereum crypto will head toward its resistance level of $3,730 soon. However, if the bears dominate the market, the ETH price will break down its support trendline and plunge toward its low of $3,000.

Ripple (XRP):

Since mid-April, the XRP coin price has displayed a weak price action by trading in a closed range between $0.480 and $0.5340. Moreover, the altcoin has displayed a change of less than 1% within the past seven days, with a 24-hour trading volume of $425.82 Million, a drop of -60.63%.

TradingView: XRP/USDT

The Moving Average Convergence Divergence (MACD) has displayed a constant flatline in its price chart, indicating weak buying and selling pressure for the XRP token in the cryptocurrency market. Moreover, the averages show a neutral trend, suggesting uncertainty in future price action.

If the market holds the Ripple price above its crucial support level of $0.480, the bulls will regain momentum and prepare to test its important resistance level of $0.5340. On the flip side, if the bulls fail to regain momentum, the XRP crypto will bleed toward its low of $0.420 during the upcoming weeks.

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23 06, 2024

Could MATIC See $0.30 As Continues To Slide With NEAR, Rollblock One Of Few Cryptos Giving Gains

By |2024-06-23T02:17:05+03:00June 23, 2024|Crypto News, News|0 Comments

Recent declines in Polygon (MATIC) have some analysts speculating that it may fall to $0.30 during a larger downturn in the cryptocurrency market. Even with the bearish trends impacting a lot of digital assets, Polygon’s fall is notable because it is having trouble regaining bullish momentum alongside NEAR Protocol. By contrast, some top crypto coins such as Rollblock have been able to make gains and establish themselves in a bearish market. Let us find out why Rollblock is a good crypto to buy now.

Why Is Rollblock A Good Crypto To Buy Now?

Rollblock (RBLK) has made its entry into the online gambling market, presenting an online cryptocurrency casino that is fully licensed and operational by utilizing blockchain technology to its fullest extent. This technology solves a lot of the problems plaguing this expanding market. For instance, Rollblock lacks the invasive KYC requirements associated with sign-up that many platforms, like Stake or Fairspin, do. 

This implies that you can play casino games in total privacy and register using just your email address. As all transactions and bets are stored on an immutable blockchain by Rollblock, players no longer have to worry about unfairness or data leaks. A notable feature that sets Rollblock apart from the competition is its revenue-sharing scheme. Rollblock buys RBLK tokens on the open market with up to 30% of its weekly revenue. 

50% of these tokens are burned, and the remaining 50% are given as rewards to RBLK stakers, providing excellent opportunities for passive income. Meanwhile, the distribution of staking rewards, which will take place on a regular basis, will be based on how much RBLK each participant has staked. Rollblock has currently raised more than $770,000, with plans to surpass $1 million by the end of June 2024.

The project is also set to introduce sports betting in the coming weeks, which will allow users to bet on a wide number of markets across the biggest sporting events in the world. This should see a significant increase in the revenue of the GambleFi protocol, something that will add great benefit for RBLK token holders. 

In Stage 3 of its presale, one RBLK is valued at $0.014, representing a 40% return on investment for early buyers. Meanwhile, analysts anticipate a further 50% increase this week. However, experts predict that once a Tier-1 CEX lists the RBLK token in Q3 of 2024, its valuation could soar up to $1. 

Polygon Price Prediction

A recent Polygon price prediction indicates that by July 19, 2024, the Polygon price will have increased by 17.09% to $0.66. Moreover, technical indicators indicate that the current mood is bearish. In the meantime, over the previous 30 days, Polygon recorded 13/30 (43%) green days and 7.32% price volatility. The projected yearly low Polygon price for 2025 is set at $0.572, based on both the BTC halving cycles and Polygon’s historical price movements. 

In the meantime, it’s expected that Polygon’s price will rise to $4.36 in the upcoming year. Right now, the range of the Polygon price prediction for 2025 is $0.572 at the low end and $4.36 at the high end. If Polygon meets the higher price target, its value could increase by 662.37% by 2025 compared to its current price.

NEAR Protocol Price Prediction

As per a recent NEAR Protocol price projection, NEAR Protocol is expected to cost $16.39 on July 19, 2024, having increased by 226.96%. Meanwhile, some technical indicators indicate that the current sentiment is bearish and over the previous 30 days, NEAR Protocol recorded 11/30 (37%) green days with 12.99% price volatility. 

Furthermore, the projected yearly low NEAR Protocol price for 2025 is $5.01, based on the NEAR Protocol price movements in the past and the BTC halving cycles. As of right now, the price prediction for NEAR Protocol in 2025 ranges from $5.01 at the lowest end to $23.60 at the highest. If NEAR Protocol reaches the upper price target, NEAR Protocol could increase in value by 378.78% by 2025 compared to its current price.

Summary

Polygon and NEAR Protocol have had major difficulties in the volatile crypto market, finding it hard to regain bullish momentum. Based on market bearish tendencies, analysts predict Polygon may experience more drops to $0.30. Comparably, NEAR Protocol has shown pessimism even though it may grow in the future.

Among this volatility, Rollblock is a solid and promising investment. By using blockchain technology, Rollblock tackles important problems in the online gambling sector, such as intrusive KYC regulations and worries about data security. Its special revenue-sharing structure offers investors significant chances for passive income through the burning of tokens and rewarding stakers. All these and more make Rollblock one of the top crypto coins to have in one’s portfolio.

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/

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23 06, 2024

Massive Ripple (XRP) Price Prediction: Is it too Outrageous?

By |2024-06-23T00:16:17+03:00June 23, 2024|Crypto News, News|0 Comments

Ripple’s ongoing case is undoubtedly at the forefront of the cryptocurrency industry, and its outcome is likely to have an impact on the price of XRP.

However, analysts are taking the opportunity to forecast potential price points based on certain technical patterns, irrespective of the SEC lawsuit’s outcome.

One such analyst is EGRAG CRYPTO, who recently pointed out a bullish candle formation known as the quarterly hammer.

Ripple Price Prediction for 2024

The analyst points out that based on this pattern, XRP needs to close the next three-month candle above $0.55 – $0.58 in the next ten days. This would pave the way for a “mega pump,” but given the current PA, it might be a bit challenging.

Source: EGRAG CRYPTO, X

That would potentially complete the first Hammer formation and initiate a rally toward the $8 level, starting as soon as July.

But there’s more!

What About XRP’s Price in 6 Months?

Well, the analyst takes the so-called Hammer formation even further, speculating that it would take about six months, but if the second hammer formation is completed, that would push XRP’s price to a whopping $27.

In any case, EGRAG CRYPTO confirms that the next ten days will be defining.

Source: EGRAG CRYPTO, X

It’s worth noting, however, that XRP is trending within a confined range for the past few weeks and has so far been unable to escape it.

This makes the upcoming movement much more likely to be considerable, but we have yet to see if the bulls will be able to take control. The broader crypto market remains in a rather bearish trend and this might impact Ripple as well.



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22 06, 2024

Here’s Why Solana Price Might Drop As Low As $100 Next; Analysts Take

By |2024-06-22T22:15:16+03:00June 22, 2024|Crypto News, News|0 Comments

Solana’s hype is slowly decreasing as the price has been dropping in the market for a long. Earlier, the Solana price had peaked at as high as $202 back in March, but the same has declined to $138.39 today. Its bullish performance in March was the best attempt it made to the all-time high target of $260.06, which has been unachievable for three years.

Though in the last 24 hours, a minor 1% recovery has been made in its price, the altcoin has a long way to go to maintain its position in the top 5 cryptocurrencies of the market.

Why Solana Price Migh Drop To $100?

Solana’s price was on the lower side for years, where it has crossed the $200 mark only once since the ATH years ago. That happened in the most bullish condition and seems a big challenge for now as the market is continuously dropping. In the week interval, the price is down by 8.57%. This drop comes as the network activity has been continuously declining. As a result, the last 24 hours trading volume has declined another 14% and is currently at $3,040,988,314, indicating the losing faith of investors.

The biggest threat to the Solana price is the increasing competition in the market. As explained by the former CEO of BitMEX, Arthur Hayes, Solana might not lead the base layer decentralized application in the upcoming years. Instead, he promoted Aptos as the next market leader instead of Solana.

BitMEX founder Arthur Hayes predicted in a video interview (38:25) that in the L1 competition, Aptos will flip Solana and become the number two L1. This will take one to three years, and he will reveal more details in September this year. https://t.co/t4bj4xCAB3

— Wu Blockchain (@WuBlockchain) June 17, 2024

The competition does not end here, as the layer2 blockchains

are upgrading and covering a major portion of the market. The Ethereum layer2 is on the verge of leading the industry, offering faster transactions at low cost while maintaining high security. This continuity can flip the layer1 blockchain like Solana soon.

Based on the ongoing price and factors pulling Solana back, analysts predicted a dump where the Solana price might drop to test support at $116. As it is in consolidation, the risk is higher for such falls. However, as Solana’s price began to recover today, and if it crosses the resistance around $157, an upsurge can happen for this cryptocurrency this time.

$SOL / $USDT

Solana is currently in a correction phase within a broader consolidation range. If price falls below $127, it may retest the significant support level at $116

If SOL can break the $157 resistance level, it could move towards the next target at $188 pic.twitter.com/guB7Uld3xP

— LaCryptoLycus🐺 (@CryptoLycus) June 18, 2024

What’s Coming Next For Solana Price?

As per the technical indicators, Solana is in complete bearish trends today, where the Relative Strength Index (RSI) is 37.26, an indicator of the overselling of this crypto. Moreover, the MACD (12,26) is -5.04, another prominent sign of the active bears in the market. The same is the case with the other technical indicators like Stochastic(20,3), ROC(20), CCI(20), Williamson%R(14), etc.

Furthermore, the simple and the exponential moving averages on the intervals of 5,10,20,50,100 hint at the bearish side dominating the other. Based on these, the probability of the drop is higher than any recovery. Analysts believe the Solana price can drop as low as $102, following a similar decline from 18 March to 13 April.

Continue Reading 5 Budget-Friendly Altcoins To Buy For Altcoin Season



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