Solana eyes 40% jump in August despite long-term bearish signals
The bear flag setup for SOL price could result in another interim relief rally amid macro headwinds. Solana (SOL) dipped to a two-week low at around $35.50 on July 26, mirroring downside moves elsewhere in the crypto market. Nonetheless, the technicals suggest that Solana's price flirts with the prospects of rising 40% in August.SOL hits key inflection pointIronically, the bullish setup for Solana emerges out of a classic bearish continuation pattern.On the daily chart, SOL's price has been consolidating inside what appears to be a "bear flag," a technical pattern that develops during a....
Related News
Solana gained nearly 60% between August 3 and September 18, with 26% of that coming in just 10 days when the token blew past its long-term resistance around $220 in the second week of September. That said, after creating a new swing high of $253, Solana quickly plummeted nearly 25% in the following week, leading […]
Solana network and Jump Crypto has recently collaborated to improve Solana network’s stability. Solana network especially this year has fallen prey to numerous network outages and congestion which has frequently caused slowing down of the network. Jump Crypto, a Web3 infrastructure developer and investor has decided to partner its efforts in order to improve decentralization […]
Solana (SOL) experienced a notable 6% price increase to start the week, following the announcement of a new initiative involving three major players in the crypto sector: Galaxy Digital, Jump Crypto, and Multicoin Capital. This collaboration aims to establish a new Solana treasury. $1.65 Billion PIPE Offering To Establish Solana Treasury In a revelation made earlier on Monday, Forward Industries (FORD) disclosed its plans for a private investment in public equity (PIPE) offering, with commitments totaling $1.65 billion in cash and stablecoins. This offering is being spearheaded by....
Ethereum and Solana are gradually demonstrating bullish movements following a rebound on Tuesday, but the broader outlook still appears to be bearish. On-chain metrics are flashing caution as selling pressure continues to dominate among investors of ETH and SOL, suggesting an extension of the ongoing volatile market. Market Balance Tilts Bearish For Ethereum And Solana […]
USD Coin price is currently trading at $0.999137, down 0.2 percent in the last seven days, data from Coingecko show, Saturday. USDC hit its all-time high three years ago or on May 8, 2019, at $1.17. The coin registered its all-time low last year on May 19, 2021, at $0.891848. It has a total of 55 billion coins in circulation and has a trading volume of $5,576,310,766. Suggested Reading | Solana (SOL) To Hit $166 By 2025, Despite Current Bearish Conditions USD Coin Remains Bearish With LTT Score Of 23 The long-term technical score of USDC is now at 23 which gives away a weak and....