Altcoins

Solana (SOL) Flies 12% To Reclaim $140, Is $160 Next?

Published

2 months ago

September 20, 2024

Solana (SOL) joined the recent crypto market pump after climbing 10% on Thursday. SOL’s price broke above a key resistance level, reigniting the bullish sentiment among investors and traders who believe the cryptocurrency is soon poised to reclaim higher targets.

Solana Breaks Above Key Resistance Level

Following the highly anticipated US Federal Reserve (Fed) rate cuts, the crypto market rebounded 5% in the last 24 hours. Most cryptocurrencies have registered green numbers in the past day, recovering from their performance in the past few weeks.

Solana, the fifth-largest cryptocurrency by market capitalization, regained momentum on Thursday after reclaiming a key level. The token had failed to break about the $140 resistance level throughout September, consolidating between the $130-$139 price range in the last few weeks.

SOL had registered a 7% weekly drop by Wednesday, which alarmed many investors and market watchers. Some crypto analysts considered the token’s recent performance hinted at a possible correction that could drive the token’s price to a yearly low.

Seasoned trader Peter Brandt suggested that the cryptocurrency could face a significant correction to the $80 support zone if it unsuccessfully continued retesting this resistance level.

Nonetheless, SOL’s price recovered from its disappointing performance, jumping over 10% in the last 24 hours. The cryptocurrency moved past the $140 mark on Thursday morning, breaking out of a two-month downtrend.

The price surge represented a 5.4% and 8.3% increase in the weekly and biweekly timeframes. Additionally, its daily market activity soared 81.3% in the past day, with a daily trading volume of $3.76 billion.

Experts Set Next Targets For SOL

Some analysts highlighted Solana’s performance, suggesting that the cryptocurrency is ready to aim for higher targets. Crypto analyst Jelle stated that, in the higher timeframes, Solana has performed considerably better than most altcoins.

Other market watchers previously noted Solana’s strength since Q3 started. During the market retraces, the cryptocurrency was deemed “one of the strongest assets” after moving sideways while other tokens made new lows.

Solana

Jelle highlighted that SOL’s price still held “all key support levels even though most altcoins are down >50% from the highs.” Effectively, Solana has remained above the $120 support zone since March, currently being 31% down from March’s highs.

Similarly, crypto analyst Yuriy considers SOL’s recent performance has set the stage for a breakout above the $150 resistance level. However, he warned that bulls must hold the $138 mark, as failing to maintain this support could lead to a correction to the $120 level.

The analyst believes a successful breakout will send SOL’s price to the $160 resistance zone next, potentially moving toward the $180-200 targets. As of this writing, SOL is trading at $143.3, a 12.2% increase in the last 24 hours.

solana, SOL, SOLUSDT

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Altcoins

Analyst Says Dogecoin Has Way More Room To Grow, Sees Potential Rally to New All-Time High for DOGE

Published

2 days ago

November 20, 2024

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A closely followed crypto strategist believes that top memecoin Dogecoin (DOGE) may be gearing up for an explosive surge.

Analyst Ali Martinez tells his 80,000 followers on the social media platform X that DOGE has more upside potential based on the level of public interest relative to its current price level.

He uses Google search trends to gauge the level of interest for the top memecoin by market cap.

“I read people saying Dogecoin will not go higher because of ‘market cap,’ ‘sell the news,’ ‘better memes.’ Well, when you look at the interest in DOGE over time, it isn’t even at peak popularity yet. Long story short, DOGE has way more room to grow.”

He also says that DOGE may be forming a bull flag pattern on the hourly timeframe and may soon surge past its all-time high of about $0.74. In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally.

“Dogecoin appears to form a bull flag! I’m looking out for an hourly close above $0.40 which could trigger a breakout to $0.85!”

DOGE is trading for $0.3742 at time of writing, up 3.6% in the last 24 hours but down about 49% from its all-time high of $0.731.

Lastly, the analyst says that Bitcoin (BTC) may override a bearish signal from the TD Sequential indicator and hit six figures.

Traders use the TD Sequential indicator to predict potential trend reversals for tokens based on the closing prices of their previous nine or 13 bars or candles.

“Finally, I believe a sustained daily close above $91,900 will invalidate this bearish Bitcoin outlook and trigger a breakout to $100,680!”

Bitcoin is trading for $90,885 at time of writing, up 1.6% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

Top Trader Unveils Path to New All-Time High for Dogecoin, Says DOGE Will Remind Everyone Who Is the King

Published

3 days ago

November 19, 2024

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A trader who continues to grow his following with timely crypto calls is outlining a potential price path for Dogecoin’s (DOGE) rally to fresh all-time highs.

Pseudonymous analyst Bluntz tells his 292,900 followers on the social media platform X that Dogecoin looks poised for a new wave of upside bursts after printing a local bottom at around $0.339.

The trader shares a chart suggesting that DOGE could explode to a new all-time high of $0.85 before ending its five-wave surge.

“Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a monster extended wave three impulse.

Once the next DOGE leg-up start, it will probably start to suck liquidity out of smaller memes again. The only reason they went so hard this week was because DOGE has been chilling for five days in my opinion.

I think this week will be a DOGE week.”

Bluntz practices the Elliott Wave theory, a technical analysis approach attempting to predict future price action by following crowd psychology that tends to manifest in waves. According to Elliott Wave principles, a bullish asset often witnesses a five-wave rally, where waves one, three and five are upside moves and waves two and four are corrective periods.

At time of writing, DOGE is trading at $0.372, down 49% from its all-time high of $0.731.

Zooming in, Bluntz shares his forecast for DOGE in the coming days.

“Ideal scenario for DOGE is a slow grind up over the next few days which could set the stage for another parabolic breakout later in the week similar to the last…

I think DOGE is gonna gently remind everyone who the king is this week.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

‘Time Has Come’ – Top Trader Predicts More Rallies for Dogecoin, Updates Forecast for Bitcoin and PEPE

Published

4 days ago

November 18, 2024

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An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes top memecoin Dogecoin (DOGE) is primed for more rallies.

Pseudonymous analyst Bluntz tells his 291,000 followers on the social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC).

The trader practices Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after an “ABC” correction.

Says Bluntz,

“DOGE/BTC looking sendy again, swept the A wave lows and looks like a clear ABC down move now done.

I have been waiting for this one to cool off to start bull posting again and I think the time has come.”

Looking at the trader’s chart he seems to predict that DOGE/BTC will soar to as high as 0.000008 BTC ($0.73). At time of writing, DOGE is trading at $0.365.

Turning to Bitcoin itself, the analyst believes that BTC has started a fresh five-wave surge in the lower time frame, targeting $100,000.

“So far so good.”

At time of writing, Bitcoin is trading for $90,227.

As for the memecoin Pepe (PEPE), Bluntz says that the altcoin is likely en route to $0.00003.

“Don’t fade the magic PEPE squiggles.”

At time of writing, PEPE is worth $0.0000214.

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