The last five months of drops saw Matic through an 80% correction as the price reset to a low of $0.335 earlier this month. This low level was rejected and the price traded calmly under the $0.44 level for two weeks.

Following a slight surge in volatility, the level flipped yesterday and the price is now charging towards $0.5, where the latest buying will likely halt. A flip through the price level may bring trading back to July’s high.

An advance bullish move above this high will confirm a slight change in the market character, posing the market for more gains in the short term. The March high is a major level to watch for a long-term market shift.

However, it is important to note that Matic is still under the bears’ radar on the daily chart. In fact, it is yet to establish a base support. 

If the price rolls back to the monthly low, we may see a further break into the $0.3 – $0.2 range before bouncing back. A continuous hold at this low could lead to a major recovery in the market.

Matic’s Key Levels To Watch

Now that the price is facing up, the primary resistance to keep in mind for a test is $0.56. Above this level lies the $0.64 and $0.77 resistance levels. If they flip, $1 and $1.3 would be the next major resistance to watch.

If a drop occurs, the last month’s $0.428 low would be considered as close support, followed by the monthly $0.335 low. A crack below these lows could dip the price to $0.3 and beyond.

Key Resistance Levels: $0.56, $0.64, $0.77

Key Support Levels: $0.428, $0.335, $0.3

• Spot Price: $0.475
• Trend: Bearish
• Volatility: Low

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

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Image Source: fellowneko14/123RF // Image Effects by Colorcinch

XRP/USD

The price of XRP has dropped by 1.4% since yesterday.

On the hourly chart, the rate of XRP has made a false breakout of the local support level of $0.5924. If the daily bar closes far from it, traders may expect a test of the resisance of $0.6010 soon.

On the bigger time frame, neither bulls nor bears are dominating. If buyers want to seize the initiative, they need to restore the price of XRP to at least the $0.61 area. 

Related

In that case, there might be a chance for a continued upward move to the $0.62-$0.64 range.

From the midterm point of view, sideways trading remains the more likely scenario. In this regard, ongoing consolidation in the wide zone of $0.55-$0.65 is the more likely scenario.

XRP is trading at $0.5932 at press time.

Solana (SOL) also follows the market trend, falling 3% in the daily charts, 2.5% in the weekly charts, 6.9% in the 14-day charts, and nearly 20% over the previous week. In this price prediction article, let’s find out how high SOL can go in September 2024.

Also Read: Solana: $100 Weekly in SOL Since FTX Crash Is Worth This Much

SOL September 2024 Price Prediction

CoinCodex Prediction

According to the price prediction by the researchers at CoinCodex, Solana (SOL) will consolidate around its current price level for the remainder of this month before breaking into a rally in September.

The platform predicts SOL to hit a high of $161.39 next month, which it may attain on Sept. 12, 2024. Reaching $161.39 from current price levels would translate to a rally of about 13.67%.

Changelly Prediction

Changelly analysts also present a similar forecast for Solana (SOL). The platform anticipates SOL will continue trading around current prices for the rest of August before rallying in September. Changelly researchers predict SOL to hit $167.65 on Sept. 19, 2024. Reaching $167.65 from current levels would translate to a rally of over 18%.

Can the Asset Go Any Higher?

Brazil’s regulator recently approved another spot for the SOL ETF in the country. The development could lead to a surge in inflows into the asset. Launching 11 spot BTC ETFs in the US led to a significant rally for Bitcoin earlier this year. A similar pattern could emerge for Solana as well.

Also Read: SEC Pauses Solana SOL ETF Filings, Delays Approval Process

If the cryptocurrency market enters another bullish phase, we may witness additional tailwinds for SOL, which could take the asset higher than forecasted.

How has the Cardano (ADA) Price Moved Recently?

Cardano is currently priced at $0.351945, with a 24-hour trading volume of $470.73 million, a market cap of $12.56 billion, and a market dominance of 0.60%. Over the past 24 hours, ADA’s price has risen by 2.25%.

Cardano hit its peak price of $3.10 on September 2, 2021, marking its all-time high. Its lowest recorded price was $0.017354 on October 1, 2017. Since reaching its all-time high, the lowest ADA has dropped to is $0.234392, while the highest recovery point was $0.806108. Currently, the sentiment around Cardano’s price prediction is neutral, and the Fear & Greed Index stands at 26, indicating fear in the market.

Cardano has a circulating supply of 35.69 billion ADA out of a maximum supply of 45 billion ADA. The yearly supply inflation rate is 5.53%, which means 1.87 billion ADA were added in the last year.

Cardano Price is Rising– Is ADA on the Path to a Comeback?

A key factor contributing to this bullish outlook is the performance of Cardano’s Hydra, which has outpaced Bitcoin’s Lightning Network in recent evaluations. This success, showcased at the RareEvo blockchain event, has heightened interest and optimism within the crypto community. As a result, traders are leveraging the positive sentiment to book profits, fueling the recent price uptick.

Investor behavior also supports the notion of a potential comeback. According to Coinglass, there was a significant net outflow of $5.73 million worth of ADA on August 20, marking the largest withdrawal since the market downturn on August 5. This withdrawal trend indicates a shift towards holding ADA, as investors anticipate higher future prices rather than liquidating their holdings.

Additionally, the 5% increase in Cardano’s open interest over the past 24 hours reinforces the bullish sentiment. This rise in futures contracts suggests that traders are predominantly opening long positions, reflecting confidence in ADA’s upward potential.

So, the combination of improved technical metrics, strong investor sentiment, and growing market activity points to a likely continuation of Cardano’s price recovery. If current trends persist, ADA could be on the path to a more significant rebound in the near term.

Will ADA Hit $1 September?

Predicting whether ADA will hit $1 by September requires a thorough analysis of its recent performance and market conditions. Over the past year, Cardano’s price has increased by 35%, reflecting a solid upward trend despite recent volatility. However, it remains significantly down—by 89%—from its all-time high, indicating considerable room for recovery.

Currently, ADA is trading below its 200-day simple moving average, a key technical indicator that suggests the asset is in a longer-term downtrend. This could imply resistance around the $1 level, making it a challenging target to reach in the near term. Additionally, with only 12 green days in the last 30 days (40%), the recent trading pattern indicates a lack of sustained bullish momentum.

Despite these challenges, ADA benefits from high liquidity due to its substantial market cap, positioning it favorably for potential gains. It has outperformed 61% of the top 100 crypto assets over the past year, though it has lagged behind Bitcoin and Ethereum. This relative performance could be a positive sign if broader market conditions improve.

The yearly inflation rate of 5.53%, translating to the creation of 1.87 billion ADA in the past year, suggests that supply dynamics are relatively stable, which might not add significant downward pressure in the short term.

While the factors indicate potential hurdles, Cardano’s liquidity, relative performance, and the recent price increase offer a foundation for optimism. However, given the current technical indicators and recent trading patterns, hitting $1 by September will require a substantial and sustained upward shift in market sentiment and trading activity.

The cryptocurrency market is buzzing today with several key developments that have contributed to the upward momentum across top crypto coins. The collective crypto market cap has surged significantly, driven by positive news surrounding major cryptocurrencies like Bitcoin, Solana, and Kaspa.

In addition, emerging crypto presales like JetBolt are making headlines with their cutting-edge features and groundbreaking presale launches. Based on the latest market trends and analyses of official web3 publications, this article carefully examines these developments, providing a well-researched overview of why crypto is up today.

JetBolt Presale Launch: A New Contender in the Crypto Space

JetBolt (JBOLT) has rapidly positioned itself as a noteworthy new contender in the best crypto presales of 2024, with its presale launch attracting significant attention from the crypto community. This futuristic new crypto coin is designed with features that cater to both seasoned crypto enthusiasts and newcomers alike, emphasizing both innovation and user-friendliness.

One of the standout aspects of JetBolt’s presale is its use of zero gas fee technology, which eliminates the high transaction costs that have often been a barrier to entry for many crypto users. Another futuristic feature is its AI-powered functionality, which delivers the latest crypto market trends and data, helping JetBolt users stay ahead of the crypto curve. Moreover, JetBolt’s easy crypto-earning staking mechanism ensures that staking is a rewarding experience just as it is engaging.

JetBolt’s presale features a daily price increase, which provides exclusive perks for early participation by allowing early adopters to purchase tokens at special presale rates. Additionally, JetBolt introduces the concept of Alpha Boxes, which provides up to 25% bonus tokens to those who take advantage of them and make batch purchases during the presale.

JetBolt also emphasizes reliability and transparency during its ongoing presale. From the moment participants engage in the presale, they receive instant self-custody of their JBOLT tokens, allowing them immediate control.

These cutting-edge presale features, combined with JetBolt’s advanced technological innovations, have positioned it as a strong contender in the best crypto presale rally of 2024. As the presale continues, JetBolt’s unique approach and immediate utility to its users may to contribute to growing interest for this new coin.

Bitcoin Price Breakout News: BTC Surges Above $61,000

Bitcoin (BTC), the world’s largest cryptocurrency, has experienced a significant price surge, crossing the $61,000 mark. As of the latest data, BTC is trading at $60,951.37, reflecting a 4.5% increase. This upward movement is partly driven by growing market confidence that the Federal Reserve may begin cutting interest rates as early as September. Additionally, the easing of selling pressure from concerns over Mt. Gox’s token distributions and positive capital flows into crypto products have further buoyed Bitcoin’s price.

The correlation between Bitcoin’s price movements and institutional interest remains strong. Notably, Bitcoin spot ETFs have seen inflows of over $60 million recently, contributing to the positive market sentiment.

Analysts are also closely watching Bitcoin’s technical levels, with a possible breakout above the $62,000 resistance possibly setting the stage for further gains. This rally in Bitcoin has had a ripple effect across the broader crypto market, helping to explain why crypto is up today.

Solana Price Climbs Amid Positive Market Signals

Solana (SOL) has also shown impressive performance, with its price climbing 3.53% in the past 24 hours to reach $146.70. This gain is supported by increasing trading volume, which rose by 12% to $2 billion, signaling strong market interest. The price surge comes amid news that asset manager VanEck is still pursuing its plans for a Solana ETF, despite a regulatory filing by Cboe Global Markets being withdrawn.

Technically, Solana is showing signs of a possible breakout. The token is currently trading above its 50-day Simple Moving Average (SMA), and analysts are eyeing a critical resistance level at $152. Should SOL manage to break through this level, it could pave the way for further gains toward the 200-day SMA at $159.44.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators also point to positive momentum, which according to some could propel Solana to new highs. These factors contribute to the broader narrative of why crypto is up today.

JetBolt’s Cutting-Edge Features: 2024’s Best So Far

JetBolt is setting a new standard in the trending crypto presales with its range of user-centric and developer-friendly features. Central to its appeal is the zero gas fee technology, powered by the Skale network, which eliminates transaction costs. This cutting-edge feature alone already makes JetBolt an attractive option for those looking to trade without the usual blockchain fees.

For those looking to engage and interact with other JetBolt stakers more deeply, JetBolt delivers a straightforward staking system enhanced by the Proof of Attendance and Worth protocol. This mechanism rewards active stakers for JBOLT staking and for their active engagement.

Developers are also well-catered to, with the platform supporting common Web3 standards like ERC-20. JetBolt’s innovative platform also provides open-source resources to foster dApp innovation, from SocialFi and gaming platforms to various crypto projects and payment solutions.

The platform’s advanced Web3 wallet also stands out for its ease of use, integrating features like face ID authentication, making crypto accessible even to those new to the space.

These cuttin-edge features collectively position JetBolt as a groundbreaking platform that aims to disrupt the crypto industry and redefine blockchain technology.

Kaspa Price Prediction: Hash Rate Surge and Bullish Prospects

Kaspa (KAS) has garnered attention with its growing hash rate and possibilities for price appreciation. As of the latest update, Kaspa’s price has seen a slight increase, trading at $0.1649, going up by 2.42% over the past 24 hours. According to crypto analyst Crypto Chrys, Kaspa’s hash rate is currently around 823.88 PH/s and is expected to surpass 900 PH/s soon. This increase in network strength is a bullish indicator, suggesting growing confidence among miners and increased security for the network.

Kaspa faces a critical resistance level of 17.5 cents. Breaking through this threshold could trigger a bullish reversal, possibly driving the price toward the 40 to 50-cent range.

The strong correlation between Kaspa’s price action and Bitcoin’s market behavior is also noteworthy. Should Bitcoin continue its upward trajectory, it could positively influence Kaspa and other altcoins, further explaining why crypto is up today.

Key Takeaways: How Today’s Events Shape Why is Crypto Up Today

Today’s surge in the cryptocurrency market is driven by several significant developments, including Bitcoin’s breakout above $61,000, Solana’s continued price climb, and the bullish prospects for Kaspa. These events contribute to the broader positive sentiment in the market, creating an ideal backdrop for the successful launch of JetBolt’s presale. 

JetBolt’s innovative features, such as zero gas technology, easy-to-earn staking, and AI-driven market insights, are attracting attention and aligning well with the current market dynamics. As major cryptocurrencies like Bitcoin and Solana show strong performance, and with Kaspa’s projected growth, the market’s upward momentum is further solidified. These events provide a favorable environment for new crypto presales like JetBolt to thrive.

Crypto enthusiasts and newcomers eager to participate in JetBolt’s presale and explore its cutting-edge features can visit the official JetBolt website for more information.

Note: This article does not constitute financial advice. Cryptocurrencies are highly volatile and involve significant risk. Please conduct thorough independent research and conduct your own research before making any decisions related to any and all cryptocurrencies.

BNB/USD

The price of Binance Coin (BNB) is one of the biggest gainers today, rocketing by 6.08%.

On the daily chart, the rate of BNB has continued to grow after yesterday’s bullish closure. 

Related

If buyers can hold the gained initiative and the bar closes around the current prices, there is a chance to see a test of the resistance of $603 until the end of the month.

BNB is trading at $572.6 at press time.

SOL/USD

The rate of SOL is less of a gainer than BNB, going up by 1.37%.

From the technical point of view, the price of SOL is not ready yet for an ongoing rise despite today’s upward move. If the daily bar closes far from its peak, sideways trading in the area of $145-$150 is the more likely scenario.

SOL is trading at $146.10 at press time.

ADA/USD

Cardano (ADA) is not an exception to the rule, rising by 4.39%.

On the daily chart, one should focus on the nearest level of $0.3451. If it breaks out, growth may continue to the $0.36 range soon.

ADA is trading at $0.3445 at press time.

TON/USD

Toncoin (TON) is the only falling coin from the list today, declining by 0.75%.

Unlike other coins, the rate of TON is looking bearish. If nothing changes by the end of the day, there is a chance to see a test of the support level of $6.381 by the end of the week.

TON is trading at $6.615 at press time.

Over the past week, Bitcoin hovered around $58K with little momentum to drive significant volatility. However, Bitcoin recently reached an intraday high of $61,400, marking a 6.1% increase from the day’s low of $57,864.

 At press time, the leading cryptocurrency continues to hold its ground above $60K. Meanwhile, the bullish sentiment extends beyond Bitcoin, with the altcoin market also experiencing significant gains. 

XRP, for instance, posted an 8% increase today, reclaiming the $0.61 level. BNB saw a similar percentage gain. In the meme coin sector, Solana’s meme token, Dogwifhat (WIF), delivered the best performance, recording over 12% growth.

Tether Latest $1B Liquidity Fuels Bull Sentiment

Notably, this thriving market follows the minting of a staggering $1 billion USDT stablecoin on the Tron network at the Tether Treasury earlier today. This influx of stablecoins, which are typically used to purchase other crypto assets, suggests a fresh injection of liquidity into the market.

💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 1,000,000,000 #USDT (1,001,600,000 USD) minted at Tether Treasuryhttps://t.co/uTUz1XNdHa

— Whale Alert (@whale_alert) August 20, 2024

The development has sparked considerable attention within the crypto community, with many humorously commenting that “the printer has come.” Arkham Intelligence expressed amazement at the large crypto funds minted with $0.00 fees. 

Analyst Ali Martinez likened Tether to a Federal Reserve of crypto, noting that each time more USDT is minted, the market responds with bullish price actions. Martinez humorously added that the USDT printers were “working overtime” during the recent Bitcoin correction.

Tether Minted $33B USDT in A Year

Notably, the last time the crypto market witnessed the minting of $1 billion USDT was on August 13, when Bitcoin similarly reclaimed the $61K level before losing it in the following days. Prior to that, Tether last minted $1 billion five weeks ago.

Prominent crypto surveillance firm Lookonchain highlighted that following the latest minting of $1 billion USDT, Tether has issued over $33 billion in stablecoins over the past year. 

Of this amount, Tron received the largest share, with $19 billion USDT minted on the network, solidifying its position as the leading stablecoin network. Ethereum saw $14 billion USDT minted on its network during the same period.

Notably, Tether’s closest rival, Circle, has also been minting USD stablecoins. Last Thursday, Circle minted $250 million in USDC, followed by another $100 million in two transactions the next day.