SOL price prediction: Solana continued its decline below $150 this week as the entire crypto market adjusted to the changing landscape after Bitcoin halving in April. The smart contracts token hovered at $142 after resetting support at $140 but revealed signs of a potential drop to $120 this week.

Trading activity has surged alongside this price change, with a 24-hour trading volume of approximately $2.23 billion, marking an 11.17% increase. This volume represents about 3.48% of the total market cap, indicating active trading. 

SOL Price Price: SOL’s Recovery from Recent Losses Possible?

Over the past week, Solana has experienced a 7% increase, showing signs of resilience. This recent upward trend contrasts with its substantial 18% drop over the past few months. The cryptocurrency had previously fallen below the critical support level of $175, signaling a bearish phase. 

Currently, the price fluctuates between $130 and $157. Both bulls and bears are actively contending, with neither side establishing clear dominance in the market.

Over the past 24 hours, most of the cryptocurrencies have seen slight market corrections, with Bitcoin and Ethereum seeing decreases of around 2% and 1%, respectively. This pullback reflects broader concerns about regulatory developments and investor sentiment in the digital asset space.

Impact of FTX Debacle on Solana

According to CoinGlass, Solana’s value has declined 5% in just one day due to ongoing concerns about potential sell-offs linked to FTX. Market analysts indicate that $125 million could be at risk should Solana recover as it has in previous instances. 

This recent price drop coincides with a significant 40% reduction in Solana’s open interest. The total open interest now stands at $1.78 billion as of May 9, a decrease from higher levels seen 30 days ago.

If bears mount more pressure, the Solana price could hit a support level of $130. If this level fails to hold, a further decline toward $120 could be imminent, signaling increased bearish sentiment in the market.

Conversely, if bulls regain control and propel a recovery, SOL could approach the $160 resistance. A sustained move above this could signal a bullish trend, possibly elevating the cryptocurrency towards $180. Stability at this level might pave the way for an advance to the $200 zone.

The technical indicator of Solana’s price movement shows a period of fluctuating performance. The Moving Average Convergence Divergence (MACD) shows a slight narrowing between the MACD line and the signal line, suggesting a possible decrease in bearish momentum. 

However, the MACD histogram remains below the baseline, indicating that the market could still be favoring the bears slightly. 

The Relative Strength Index (RSI) stands at 45.80. This value indicates that Solana is neither overbought nor oversold, providing a neutral signal to traders. Additionally, the Chaikin Money Flow (CMF) indicator sits close to zero at 0.04.

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Denys Serhiichuk

Can traders expect increased volatility of DOGE until end of week?

The situation on the market has not changed much as the rates of most of the coins keep falling, according to CoinMarketCap.

DOGE/USD

The price of DOGE has dropped by 1.05% over the last 24 hours.

On the hourly chart, the rate of DOGE is rather more bullish than bearish as it is near the local resistance level of $0.1489. If it breaks out, the growth may continue to the $0.15 zone tomorrow.

The price of DOGE has not kept falling after yesterday’s bearish closure. However, it is too early to think about a fast reversal as the meme coin has not accumulated enough energy yet. 

In this case, sideways trading in the zone of $0.145-$0.15 is the more likely scenario until the end of the week.

On the bigger time frame, the picture is more bearish. If the weeky bar closes around current prices, bears may seize the initiative in the midterm, which can lead to a more profound drop to the $0.12-$0.13 range.

DOGE is trading at $0.1480 at press time.

About the author


Denys Serhiichuk

The top crypto prices today witnessed continued declines as the Bitcoin (BTC) price dropped lower than the $62,000 level. Furthermore, the Ethereum (ETH) extended below the $3,000 mark amid the bearish downturn. In addition, other top altcoins, such as Solana (SOL) also witnessed a plunge while XRP and Cardano (ADA) defied the trend.

Major Crypto Prices Today

1. Bitcoin Price

The Bitcoin price was down by 1.75% reaching $61,495.88 at the time of writing on Thursday, May 9. On the other hand, it’s trading volume dipped 1.38% to $25.10 billion in the last 24 hours. Whilst, the crypto’s market capitalization dipped to $1.21 trillion.

2. Ethereum Price

The Ethereum price dropped 0.50% to $2,993.52 at press time with a market valuation of $359.52 billion. Whilst, ETH saw its trading volume fall 1.73%, reaching $11.25 billion.

3. Solana Price

The Solana price continue trading below the $150 level today. The Solana price lost 1.91%, settling at $143.80. In contrast, SOL witnessed a 6.48% plunge in trade volume to $2.35 billion in the last 24 hours.

4. XRP Price

Whilst, the XRP price recorded a slight rebound and sustained the $0.52 mark. The XRP price recorded a gain of 0.24%, reaching $0.5208. On the other hand, XRP’s trading volume slumped by 11.95% to $1.02 billion.

5. Cardano Price

Meanwhile, the Cardano crypto price soared 4.31% to $0.4602 today. Whilst, ADA recorded a spike of 74.04% in its 24-hour trading volume, settling at $519.72 million.

6. Dogecoin & Shiba Inu Price

The Dogecoin price tumbled 2.02% to $0.1471 while its rival, Shiba Inu price slipped 0.32% and traded at $0.00002287.

Also Read: Reasons Why Bitcoin Price May Cross 70K Soon

Top Crypto Gainers Today

• Lido DAO (LDO): The LDO crypto price rose 2.30% to $1.96.
• Tron (TRX): The Tron crypto surged 2.14% and traded at $0.1212.
• Chiliz (CHZ): The Chiliz crypto surged 1.98% and traded at $0.1253.
• THORChain (RUNE): The RUNE crypto price rose 1.75% to $5.45.

Top Crypto Losers Today

• Dogwifhat (WIF): The Dogwifhat price lost 10.83%% to $2.91.
• Helium (HNT): The HNT price was down 9.70% to $4.84.
• Aakash Network (AKT): The AKT price plunged 7.99% to $4.43.
• JasmyCoin (JASMY): The JasmyCoin price slumped 6.36% to $0.01792.

Avalanche (AVAX), Jupiter (JUP), and Arweave (AR) also made it to the top crypto losers list today.

Also Read: XRP Price Prediction: Will Market Uncertainty on Ripple Vs SEC Case Push $XRP Below $0.5?

XRP Price Prediction: The altcoin market has witnessed a slowdown in its recovery momentum as Bitcoin faced overhead supply at $65000. The BTC price below $62000 on Wednesday is raising fresh correction possibilities for a majority of major altcoins, including XRP. This native currency of the Ripple network has recently reverted from $0.57 resistance and maintained its bearish outlook with the formation of a new lower high.

Also Read: 4 AI-Based Altcoins Outpacing Bitcoin, Ethereum, XRP In 2024

Overhead Supply at $0.57 Puts XRP Under Long Correction Threat

For nearly two months, the XRP price has witnessed a steady correction trend under the influence of a downsloping trendline in the daily chart. The dynamic resistance has plunged the asset from a $0.744 high to the current trading price of $0.522 registering a 30% loss. 

Furthermore, the SEC has recently filed its final reply in the remedies phase of its lawsuit against Ripple Labs, countering Ripple’s claims of non-recklessness and clarity in XRP’s legal status. Despite Ripple’s argument that the court’s previous rejection of its “fair notice” defense should not introduce uncertainty regarding XRP, the SEC remains firm in its position. 

The commission stresses that potential future violations by Ripple could occur even though there have been no breaches since 2020. The SEC asserts that assurances of changed behavior from Ripple do not eliminate the need for injunctions to prevent future legal infractions.

Amid the SEC’s recent filing, the XRP price wavers in uncertainty around $0.53. The recent reversal from the downsloping trendline has plunged the XRP price by 5% in the last 48 hours.

If the selling momentum persists and overhead resistance is intact, this altcoin could tumble another 9.5% to hit $0.47 support.

Therefore, for buyers to regain control over this asset they must breach the overhead trendline.

Technical Indicator:

• BB Indicator: The squeezed range of the Bollinger Band indicator highlights the increasing uncertainty towards this asset at current market dynamics. 
• Relative Strength Index: The daily RSI slope turned down from 50% midline indicating the market sentiment shifting to bearish sentiment.

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Recently, a popular crypto trader and YouTuber has predicted a substantial surge in Solana price, forecasting it could reach as high as $360 soon.

This prediction is underpinned by a technical pattern on Solana’s chart—a bullish signal suggesting a potential reversal from bearish to bullish momentum.

Technical Insights Into SOL Potential $360 Rise

According to the trader, CryptoJack on X, SOL has developed a “rounding bottom pattern” over an extended period, indicating it is on the brink of a significant breakout.

Notably, the ’rounding bottom’ pattern, characterized by a gradual decline followed by a stabilizing trend and an upward breakout, is a classic bullish indicator in technical analysis.

CryptoJack’s analysis points out that Solana is setting up for a significant uptick, aiming for a price target double its current value of approximately $146.

Not only does CryptoJack see a bright future for Solana, but other analysts, such as Altcoin Sherpa, also maintain a bullish stance, with projections of the token potentially surpassing $500 this year.

This would represent a 300% increase from its current level, adding to the 589% growth it has already achieved year-to-date.

Solana Challenges Ethereum

While Solana has shown notable growth, some of its key metrics are also beginning to keep up the pace. Dan Smith, a senior research analyst at Blockworks, suggests that Solana could soon surpass Ethereum regarding transaction fees and capture Maximal Extractable Value (MEV).

Smith’s analysis of X highlights that Solana’s total economic value is nearing Ethereum’s, indicating its increasing relevance in the blockchain space.

Despite this competition, Ethereum maintains a significant lead in daily transaction fees and total value locked (TVL). In the last 24 hours, Ethereum generated over $2.75 million in fees, compared to Solana’s $1.49 million.

Moreover, according to data from DeFillama, Ethereum’s TVL of over $53 billion dwarfs Solana’s $3.96 billion, representing just about 7.2% of Ethereum’s scale.

Meanwhile, Ethereum does not come close to Solana in terms of market performance. Solana has seen quite outstanding growth in the past year, surging by over 500%. On the other hand, Ethereum has only seen a 66% surge over the same period.

Featured image from Unsplash, Chart from TradingView

Dogecoin Price Analysis: The Bitcoin price struggle to break past $65,000 psychological resistance is accelerating the overhead for major altcoins including Dogecoin. In the daily chart, the DOGE price projects two long rejection candles at the $0.17 mark indicating sellers are aggressively defending the higher levels. This reversal sign at the monthly resistance trendline indicates a prolonged correction period for the largest meme cryptocurrency.

Also Read: Dogecoin Developer Flags Privacy Concerns In Coinbase Ecosystem

Dogecoin Decline as Whale Moves 400 Million DOGE to Robinhood

Over the past five weeks, the Dogecoin price has witnessed a steady correction trend under the influence of a downsloping trendline. The resistance trendline has plunged the DOGE value from $0.228 to the current trading price of $0.156 registering a 33% loss.

The coin price reverted thrice from this resistance indicating the traders continue to sell this asset at a bullish bounce, a key behavior in an established downtrend.

In a notable on-chain movement reported by Whale Alert, a massive transaction of 400 million DOGE, valued at approximately USD 62.8 million, was transferred from an unknown wallet to the popular trading platform Robinhood. The transfer may signal the whale could be preparing to sell, which might increase supply pressure on DOGE.

Thus, a potential reversal may plummet the DOGE coin by 22% and hit the multi-month support of $0.122.

Also Read: Bitcoin & ETH Records $251M Outflow Last Week, But There’s A Catch

Dogecoin Price Analysis: Outpacing Rivals in Wallet Expansion

Altcoin Daily’s recent analysis, using Santiment data, reveals significant trends in cryptocurrency adoption. Bitcoin maintains a robust lead with a record 53.85 million non-empty wallets. Notably, Toncoin’s network has shown the fastest growth in wallet numbers, suggesting rising investor interest. 

Dogecoin also stands out, outpacing XRP and ADA in wallet growth over the past six months. This development might reflect a revival of interest in Dogecoin, possibly spurred by various social media endorsements and its community’s vibrant activities.

Thus, a broader trend for Dogecoin remains bullish and a potential breakout from the overhead will signal the end of the correction trend.

Technical Indicator

• BB Indicator: A flattish trend in the Bollinger band indicator reflects no clear dominance from buyers or sellers toward DOGE.
• Average Directional Index: A falling ADX slope at 23% indicates the prevailing bearish momentum is weakening with a recent bounce.

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Buyers are still weak, according to CoinMarketCap.

XRP/USD

The price of XRP has declined by 2.18% over the last 24 hours.

Despite today’s fall, the rate of XRP is looking bullish as it is near the local resistance level of $0.5280. If it breaks out, there is a chance to see a test of $0.53.

On the bigger chart, neither bulls nor bears are dominating as the price is far from the key levels. Furthermore, the candle is about to close far from its peak or low. 

In this case, sideways trading in the zone of $0.52-$0.53 is the more likely scenario.

From the midterm point of view, one should pay attention to the weekly bar’s closure. If it happens near $0.55, traders may expect a local bounce back.

XRP is trading at $0.5252 at press time.

About the author


Denys Serhiichuk

Cardano price analysis indicated quite a decline in its performance these days. The dip came after the Cardano gained around 15% within the first three days of May but declined today in response to today’s crypto market fall. ADA price is currently trading at $0.4408 with a trading volume of $280,165,795 after a 19% decline. However, it is still ranked 10th top cryptocurrency on CoinmarketCap because of its market cap of $15,718,560,851.

ADA token has been trading between the $0.4-$0.8 range for two years, continuously failing to go above the $1. The last time Cardano was above $1 was in March of 2022, and a similar surge did happen this year as well, but that did not last long. Cardano rose to the highest point of $0.78 in March before facing a downward trend.

Cardano Price Prediction For May

As per the current market situation, Cardano is supposed to maintain its value closer to $0.5-$0.6 for the majority of the month. But the prices might see a 2% surge in the upcoming days, pushing the Cardano value above the $0.6 mark. However, Ali Martinez, a crypto analyst, believed a big rally might happen soon because of the resemblance of the charts to 2020, where a 4095% increase in the Cardano price took place.

Also Read: Crypto Market To Recover By May End; Here’s What You Should Know

According to him, the ADA price consolidated a parallel channel in 2019, and once the token came out of the stagnant phase, a 75% price surge took place before getting into a correction zone, losing 56% in value. However, even with the fall, the Cardano price went for a 4,095% bull run.

Similarly, Cardano also faced a 50% drop last month, which Ali believes to be the perfect opportunity to buy more before Cardano’s price recovers.

A few other analysts have also backed up the Ali prediction, anticipating Cardano to attain a value three times higher than its all-time high. As a bull run might take over the crypto market by the end of the year, the Cardano holders are focusing on HODL for now.

Final Thoughts

Cardano is more than 87% away from its all-time high target of $3.10, set three years ago. It hasn’t surged or been near that in the last two years. With its March price surge, the Cardano investors did expect a better surge, but it turned into a downtrend even before the month ended. As of now, ADA price has dropped more than 27% in a month with the possibility of recovery in May.

Read More Analyzing The Solana Meme Coins Performances; Dying Trend?

The top crypto prices today registered further declines as the Bitcoin (BTC) price extended lower than the $63,000 level. Furthermore, the Ethereum (ETH) price geared up to drop below the $3,000 mark amid the bearish downturn. In addition, other top altcoins, such as Solana (SOL), XRP and (ADA) also witnessed a plunge.

Major Crypto Prices Today

1. Bitcoin Price

The Bitcoin price was down by 1.54% reaching $62,419.06 at the time of writing on Wednesday, May 8. On the other hand, it’s trading volume plummeted 16.14% to $25.42 billion in the last 24 hours. Whilst, the crypto’s market capitalization dipped to $1.22 trillion.

2. Ethereum Price

The Ethereum price dropped 1.56% to $3,017.56 at press time with a market valuation of $362.40 billion. Whilst, ETH saw its trading volume drop 16.74%, reaching $11.48 billion.

3. Solana Price

The Solana price extended below the $150 level today. The Solana price lost 4.96%, settling at $147.04. In contrast, SOL witnessed a 21.94% plunge in trade volume to $2.53 billion in the last 24 hours.

4. XRP Price

Whilst, the XRP price fell lower than the $0.53 mark. The XRP price recorded a loss of 2.96%, reaching $0.5216. On the other hand, XRP’s trading volume slumped by 36.69% to $1.16 billion.

5. Cardano Price

Meanwhile, the Cardano crypto price was down 1.70% to $0.4418 today. Whilst, ADA recorded a dip of 19.24% in its 24-hour trading volume, settling at $297.88 million.

6. Dogecoin & Shiba Inu Price

The Dogecoin price dropped 4% to $0.1498 while its rival, Shiba Inu price slipped 3% and traded at $0.000023.

Also Read: Tron Founder Shares Big Robotics, AI and Blockchain Statement

Top Crypto Gainers Today

• Ethena (ENA): The Ethena crypto price rose 3.46% to $0.9048.
• Tron (TRX): The Tron crypto surged 2.42% and traded at $0.1215.
• Lido DAO (LDO): The Lido DAO crypto surged 2.40% and traded at $1.97.
• UNUS SED LEO (LEO): The LEO crypto price rose 1.77% to $5.89.

Top Crypto Losers Today

• Dogwifhat (WIF): The Dogwifhat price lost 11.95%% to $2.93.
• Aakash Network (AKT): The AKT price plunged 8.48% to $4.45.
• Arweave (AR): The Arweave crypto slumped 8.38% to $37.73.
• Helium (HNT): The HNT price was down 8.27% to $4.93.

JasmyCoin (,JASMY), Avalanche (AVAX) and Jupiter (JUP) also made it to the top crypto losers list today.

Also Read: SHIB Price Prediction: As Trading Volume Spikes 68%, Will Shiba Inu Coin Price Rally?