Since its retest around the $120.40 low on September 2, Solana’s native token, SOL, has been on a more potent bullish outlook, characterized by a seven-week rally, with only one bearish close during this period. Following this price uptick, the cryptocurrency’s market value has surged, breaking past key resistance levels of around $163.56, last seen on August 8. 

As of press time, SOL trades at $175.89, reflecting a 6.03% increase over the last 24 hours. Considering the altcoin’s optimistic price action, market analysts are projecting the token may hit the $200 mark in the coming weeks.

SOL Poised for Rally as Technicals Turn Positive

From a technical perspective, the SOL cryptocurrency is poised for a rally as key metrics hint at a bullish continuation in the near term. For instance, the relative strength index presently points upward, indicating the token’s bullish sentiment is building up in the short term.

With its RSI line at 58.82, there is more room for further price growth before reaching the overbought 70 level, suggesting that SOL may continue its upward momentum in the coming days. The moving average convergence divergence indicator at 6.49 paints an identical posture with the MACD line, reflecting a bullish crossover with the signal line.

Adding to this optimistic price action, the MACD’s histogram bars show green bars expanding above the zero line at 0.93. This implies that SOL’s positive outlook is strengthening in the short term. In addition, data from CoinGlas, an on-chain analytics platform, indicates an increase in buying pressure as the token’s OI-weighted funding rate remained consistently positive.

This means Solana long position holders are willing to pay a premium to short ones to keep their positions open, indicating confidence in the asset’s potential for further gains. The cryptocurrency’s open interest also cements this bullish outlook, showing a 6.87% surge to $3.40 billion over the past 24 hours. Such optimistic data points paint a promising picture for the SOL token, possibly reaching the $200 threshold.

Will SOL Break Past the $200 Mark?

Given the current market conditions, the Solana cryptocurrency is poised to surge toward the $200 threshold, with the likelihood of surpassing it and reaching out for higher levels. However, the success of this move depends on various key metric indicators. For instance, the SOL token must challenge the $182.84 resistance, aligning with the 78.6% Fibonacci level, and close above it to confirm a sustained bullish trend. A breach above this level could push Solana toward the $200 zone.

Conversely, should the altcoin fail to meet these demands, its market value might revisit the $163.56 support level before attempting another bullish breakout. Yet, should this zone falter, the cryptocurrency might plummet deeper, possibly touching the $151.92 low around the 50% Fibonacci level.

Also Read: XRP Retests $0.51 Mark; Ripple vs. SEC Case Fuels Market Speculation

Dogecoin (DOGE) is back in the spotlight as analysts are predicting a parabolic run just like in 2021. With strong community support and Elon’s endorsements Dogecoin (DOGE) is ready for another rally. But as Dogecoin (DOGE) tries to repeat 2021, DTX Exchange (DTX) is emerging as a new contender. Can DTX outshine Dogecoin in the next crypto wave?

Dogecoin’s Parabolic Price Predictions

Dogecoin (DOGE) is at $0.13737 and down 1.54% in the last sessions.
Recent predictions say Dogecoin (DOGE) is about to have a big run.

Crypto analyst Javon Marks is predicting Dogecoin (DOGE) will break its all-time high (ATH) of $0.73 and go to $3. That’s a 400% move based on Dogecoin’s past performance and market cycles.

In the short term, Crypto Universe predicts Dogecoin (DOGE) will more than double to $0.37 in the next 2 weeks. That would be a new yearly high.

After a brief pullback after the US elections, Dogecoin could resume its up move and go to $1 and even $3 as Javon Marks is predicting.
Dogecoin has already risen 15% in the last week and is now trading at $0.13. It’s the best-performing cryptocurrency in the top 40, with a market cap of over $20 billion​.

Elon Musk’s Influence and Recent Rally

One of the main drivers of Dogecoin’s recent price move is Elon Musk. Musk’s public comments have had a big impact on DOGE’s price, and his recent mention of “DOGE” (Department of Government Efficiency) at a public event helped to push the price up​.

Musk’s involvement is still a big catalyst for Dogecoin’s growth, and rumors of Dogecoin (D.O.G.E) being integrated into X (formerly Twitter) as a payment option is fueling more interest in the cryptocurrency.

Technical Analysis: Bullish Breakout Ahead

Technically Dogecoin is looking very bullish. It’s in a breakout from a falling wedge pattern which means a 40% move by the end of 2024​. The wedge pattern is a reversal pattern from a downtrend to an uptrend so Dogecoin (DOGE) could see more gains in the coming months.

Despite the technical setup investors should be cautious as the market is always volatile especially with big events like the US elections coming up.

DTX Exchange: A New Contender?

While Dogecoin (DOGE) looks good, DTX Exchange (DTX) is gaining momentum in the crypto space. DTX is a hybrid trading platform with 1000x leverage and KYC-free trading, attracting investors from established coins like Dogecoin (DOGE) and Ripple (XRP).​ DTX has raised over $5.5 million in its presale and will reach $1 after its mainnet launch​. Some analysts are even predicting 50x returns for early investors by the end of 2024.

DTX’s hybrid platform with decentralized and centralized exchange features is attractive to traders looking for high returns. The presale has already seen a 300% increase in token price so DTX Exchange (DTX) is a good alternative to Dogecoin (DOGE) for those looking for new opportunities.

Dogecoin or DTX?

Dogecoin’s price prediction is looking strong and could see a big move in the near future. With Elon Musk’s backing and bullish technicals, Dogecoin (DOGE) could hit new highs. However, DTX Exchange (DTX) is a new option for those looking to increase DeFi’s growth.

Dogecoin wants to repeat 2021 and DTX is the new contender with features that will attract a different crowd. Next few months will decide which one will lead the next big move.

For more information, visit the Visit DTX Website, Buy Presale or Join The DTX Community.

Cardano (ADA) is trading around the $0.34 level on Thursday, down nearly 4% in the day’s trade. The leading altcoin has had a rough year as its price massively dwindled in the last 10 months. It started the year at $0.60 and slumped close to 45% year-to-date. The development is testing investors’ patience as several other obscure tokens outperform the top 10 cryptocurrencies in the market.

Also Read: Cryptocurrency: Top 3 Coins That May Hit All Time Highs In November

So, will Cardano dust itself from the fall and scale up in the charts by the end of October 2024? This article will highlight how high or low ADA could reach in the charts next week.

Also Read: Morgan Stanley (MS) Stock Nears All-Time High: Can It Go Much Higher?

Cardano Price Prediction: Time to Buy ADA?

Leading on-chain metrics and price prediction firm Changelly has painted a sluggish forecast for Cardano’s native token ADA. According to the price prediction, the maximum ADA could rise by the end of October to $0.36 if the altcoin picks up steam and heads north in the next seven days. If it fails to rally, the price could remain at $0.34 with little to no changes.

Also Read: Russia’s Push: Precious Metals to Lead De-Dollarization Effort

Cardano’s ADA is among the least-performing cryptocurrencies in the market this year. Despite Bitcoin reaching the $67,000 mark in the indices, it has failed to attract buying pressure. The Cardano blockchain has also launched several upgrades, but the developments barely positively affected its price.

Also Read: Multipolar Currency Era Looms As Russia, China Challenge The US Dollar

This puts the cryptocurrency on the ‘no buy’ list as earning profits becomes challenging. Apart from ADA, many other cryptocurrencies are primed to deliver decent returns in November. Read here to learn how high Shiba Inu (SHIB) could go in the charts next month.

In addition, Binance Coin (BNB) is also expected to surge in the indices this Halloween. Read here to know how high BNB can spike in the charts. While other tokens are primed to print profits, it is advised to stay away from Cardano’s ADA currently.

Solana price today: $175.77

• Solana price hit a new all-time high against Ethereum at $0.06922 on Wednesday. 
• On-chain analysts at Santiment said SOL price could rally even as crowd sentiment is bearish. 
• Solana eyes the psychologically important $180 target in its uptrend. 

Solana (SOL) extends its weekly positive move and trades near $175.00 as the altcoin hit a record high against Ethereum (SOL/ETH) on Wednesday at 0.06922.

Solana extends gains after hitting all-time high against Ethereum 

Solana rallied to a fresh high against Ethereum (ETH) on Wednesday. SOL is considered one of the leading competitors of Ether’s smart contract blockchain. It is therefore a key development for SOL traders that SOL/ETH hit a new all-time high. 

A technical analyst (behind the X handle @KarenZh30739159)at Foresight News identified what differentiates Solana from Ethereum and explained the reason for SOL’s price rally as Ethereum hovers around $2,600. Ethereum expanded its ecosystem through Layer 2 and 3 chains as well as alternative scaling solutions. However, in the same time frame, Solana gained popularity through meme coins and new token launches on the chain. 

Retail traders and their interest in Solana is likely one of the key factors driving gains in the altcoin. 

On-chain analysts at crypto intelligence tracker Santiment shared their insights about Solana in a recent tweet on X. Analysts highlighted how a bearish sentiment among traders failed to dampen the altcoin’s price trend. 

Analysts ask traders to watch out for further gains in SOL even though some investors remain bearish on the token. 

Santiment’s analysis of Solana sentiment and price trend 

Solana Price Forecast: SOL eyes 4% gains 

Solana trades near $175.77 at the time of writing and targets $180, a psychologically important level for the altcoin. SOL could face immediate resistance in the Fair Value Gap (FVG) between $172.91 and $175.39. 

The Moving Average Convergence Divergence (MACD) indicator shows green histogram bars above the neutral level in the daily chart, signalling underlying positive momentum in SOL price trend. However, the Relative Strength Index (RSI) momentum indicator enters overbought conditions just above the 70 level, suggesting traders not to add to their long positions.

SOL/USDT daily chart

In case of a correction, Solana could find support at the 10-day Exponential Moving Average at $150.74 and the September 19 low, which coincides with a lower boundary of an FVG, at $134.27. 

The market is again mostly green, according to CoinStats.

ADA/USD

The rate of Cardano (ADA) has dropped by 3.87% since yesterday.

On the hourly chart, the price of ADA is trading near its local support level of $0.3396. If nothing changes by the end of the day, there is a chance to see a further correction to the $0.3350 zone soon.

On the daily time frame, the rate is falling after yesterday’s bearish closure. 

Related

If the daily candle closes below $0.3423 and with no long wick, the drop may continue to the $0.33-$0.3350 range.

Sellers are also more powerful than buyers on the weekly chart. If bulls cannot seize the initiative soon, one can expect a support breakout, followed by a decline to the $0.32 area.

ADA is trading at $0.3426 at press time.

Ripple is undoubtedly one of the most successful crypto market tokens with which to interact. XRP has always attracted intense scrutiny and attention to stay on top of the radar. After a modest October in terms of price, will it hit a new ATH in November 2024?

Also Read: Michael Saylor’s Bold U-Turn: Embracing Self-Custody Amid Backlash

Ripple Continues To Attract Mainstream Momentum

Per the latest Santiment report, the XRP ledger has noted spiked activity in its wallet domain. The post outlined how the XRP ledger has documented a surge in active wallets lately. The metrics indicate that the active unique wallet number has breached the 35,600 mark.

In addition to this, nearly 7,000 unique wallets were made in a single day, which is quite a milestone for Ripple to achieve in the last 7 months.

“XRP Ledger has spiked in active wallets significantly, reaching 35,799 unique wallets making at least one transfer in a single day, the highest in over 3 months. Additionally, 3,858 new wallets were created in a single day, the highest amount in over 7 months! ”

At the same time, Egrag Crypto, a notable crypto analyst, has always made another bullish prediction. The expert has presented a new macro drop zone analyst under which XRP can reach a new $15 mark.

“The Drop Zone analogy🌪️Area A was our MACRO consolidation, where #XRP was chilling. But then, it got pulled to the edge of Area A’s Drop Zone, and like a magnet, XRP dropped into… you guessed it… MACRO consolidation, aka Area B! 🎯 What’s next? Well, buckle up, #XRPArmy, because XRP has to edge closer to the Drop Zone B. 💥 Once it does, we’re looking at a launch from $2 to $15 MINIMUM! 🚀”

The ripple ecosystem is also busy launching its own stablecoin, RLUSD, which is set to attract significant revenue and ultimately boost its price. With the XRP ETF in the mix, the price of XRP may undoubtedly rise high on the radar, provided it continues to leverage mainstream momentum.

Also Read: Solana Is Outpacing Major Altcoins: Will It Claim $200 In November?

The Token’s Price Forecast for November

Brad Garlinghouse, the CEO of Ripple, earlier issued a statement outlining how the XRP ETF is inevitable and will be launched soon. This development can be a game-changer for XRP, helping it reach new heights.

According to CoinCodex, XRP currently sits at $0.53, up 0.16% in the last 24 hours. This November, it may surge by 17% to hit a new price mark of $0.61.

“According to our current XRP price prediction, the price of XRP is predicted to rise by 17.31% and reach $0.6142 by November 22, 2024. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 71 (greed). XRP recorded 14/30 (47%) green days with 5.81% price volatility over the last 30 days. Based on the XRP forecast, it’s now a bad time to buy XRP.”

Also Read: Gold Enters Overbought Territory: Should You Sell & Rebuy the Asset?

Solana price could be edging closer to ending its six-month sideways movement and hinting at a massive rally. Adding credence to this outlook is an expert who issued a “final warning” as he expects SOL to soar by double digits in under two weeks. The analyst’s bullish scenario is backed by his outlook on Bitcoin’s price, which could hit $80,000 in the same period.

Will the SOL price rally 50% in just 13 days, as predicted by the analyst?

Why Is Solana Price Rising Today?

On October 24, SOL price rose 4.9% and currently trades at $173.46. This bullish outlook can be attributed to Bitcoin’s uptick during Wednesday’s late New York trading session.

There are a few reasons why Solana has been outperforming Ethereum over the past few months:

1. Solana’s total value locked (TVL) recently hit a two-year high, indicating increased network usage.
2. Solana has surpassed Ethereum in daily transaction fees, driven by the growing popularity of meme coins on its blockchain.

Although Solana shot up 4.9% in the past 24 hours, backed by Bitcoin’s momentum, will it rally 50% in less than two weeks? This analyst believes that it is possible.

Final Warning For SOL Price Before $250

Crypto Analyst Kale Abe predicts the Solana price will hit $250 with 110,000 YouTube subscribers. Abe argues that since Bitcoin’s price movements significantly impact the cryptocurrency market, and if BTC price rebounds towards $70,000, Solana could reach $200. 

The analyst notes that SOL was the strongest crypto asset in the market in 2024 and, in what he notes as a ‘final warning,’ anticipates a significant price surge in SOL once Bitcoin reaches price discovery.

Abe foresees the $250 price tag around 13 days from Oct. 24, coinciding with the much-awaited November U.S. elections. Since Donald Trump’s involvement in the blockchain industry, the role of the crypto space in U.S. politics has become more significant. 

Abe predicted that if Trump wins, the Bitcoin price could reach $80,000, as this political event has become a potential catalyst for market movement. Trump is already leading Vice President Kamala Harris by 59.9% to 40.2% on Polymarket.

Solana Price Analysis: Will SOL Rally 50% in 13 days?

The 12-hour Solana price chart shows a strong upward curve forming a parabolic rise, confirming a bullish sentiment. The recent break above the key resistance level of $160 signals the continuation of this upward momentum.

The parabolic rise could bring Abe’s ‘final warning’ prediction to pass, as the asset is poised to complete two bullish breakout moves that could catapult it to $259. 

On the way up, SOL could face resistance around $190, which coincides with the supply zone of the current prolonged consolidation zone Solana is in. This is a psychological level where many traders have their sell stops. Beyond that, the SOL price could surge to $259.

Solana Price Analysis ChartSolana price forecast shows the asset may turn bearish if the resistance at $190 becomes too strong to break. SOL could drop back to $160, and if this level also fails to hold, the asset could retest $120.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.