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....
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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 […]
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....
Solana (SOL) has long been regarded as one of the top-performing cryptocurrencies in the market, boasting incredible growth in the past 11 months. However, with the recent emergence of Mpeppe (MPEPE), a new AI-powered gambling memecoin, Solana (SOL) investors are beginning to diversify their portfolios. Despite Solana’s (SOL) success, many of its investors are choosing to double down on Mpeppe (MPEPE) in anticipation of its massive growth potential. Solana’s (SOL) Recent Performance and Concerns Solana (SOL) has recently experienced two consecutive red candles, raising concerns....
Solana, Bitcoin, Ethereum, and the broader crypto market experienced a tumultuous start to the week, with one of the most severe price crashes since the collapse of FTX. While macroeconomic factors were primarily responsible for this downturn, substantial sell orders from Jump Crypto, a division of the prominent Chicago-based quantitative trading firm Jump Trading Group, also played a significant role. In the 10 days leading up to the crash, Jump Trading transferred $277 million worth of ETH to various exchanges, significantly intensifying selling pressure across the cryptocurrency market.....
SOL price is down 29% since August, and three key metrics suggest bulls are in no rush to return. The past eighty days have been moderately bearish for cryptocurrencies as the altcoin market capitalization declined by 16%. The downside movement can be partially explained by the United States Federal Reserve’s quantitative tightening, rising interest rates and the halting of asset purchases. Although they are aimed at curbing inflationary pressure, the policy also increases borrowing costs for consumers and businesses.The downfall of Solana’s SOL (SOL) token has been even more brutal, with....