Connect with us

Ethereum (ETH) price

Can Solana Price Post a 2021-Like Bull Run?


Published

4 weeks ago

on


The SOL/ETH currency pair traded within a tight range as liquidity woes challenge global markets, including crypto. With investors anticipating a series of interest rate cuts in the United States starting in September, Solana price may surge ahead of other cryptocurrencies, potentially reaching $200.

SOL/ETH Price Market Movers: Rising DeFi TVL and And Whale Buying Spree

Solana price collected liquidity at $140 this week, paving the way for a reversal to $145 as the protocol’s decentralized finance (DeFi) ecosystem made a comeback in the total value locked (TVL). According to DeFi Llama, the value locked in smart in the protocol’s smart contracts has surged to $4.98 billion from the early August crash to $3.8 billion. An increase in this metric is often viewed as a bullish signal for reducing the potential selling pressure. Investors show confidence in the asset, committing their holdings to secure the protocol and earn rewards.

Solana TVL | DeFi LlamaSolana TVL | DeFi Llama
Solana TVL | DeFi Llama

On the other hand, ETH price quickly swung towards $2,700, but due to shrinking liquidity and a slow uptake of Ether ETFs, a correction occurred to $2,664. This sluggish movement in ETH price may soon be over if whales keep up their risk appetite for ETH. Based on Santiment, holders of between 1,000 and 10,000 ETH account for 35.13% of the total supply, up from 34.77% on August 1. Those addresses with between 10 million and 100 million ETH focused on the recent crash, increasing their holdings to 10% from 9.67% in the same period.

Ethereum supply distributionEthereum supply distribution
Ethereum supply distribution

Solana Price Analysis: Ready For A Move-Up

The SOL/USD currency pair sits above crucial support provided by the 200-day Exponential Moving Average (EMA) and the lower end of the Bollinger bands. A rebound toward the indicators mid boundary is anticipated, which has a higher probability of boosting Solana price toward $160.

Meanwhile, a Bollinger Band Squeeze occurs when the upper and lower bands converge, indicating a period of low volatility. This can be likened to the current lack of liquidity. A breakout from either band after a squeeze often signals a significant price movement. Hence, with support at the 200-day EMA holding, traders can profit by entering long positions in SOL/ETH pair and anticipating a huge breakout to 0.062.

SOL/ETH price chart | Tradingview SOL/ETH price chart | Tradingview
SOL/ETH price chart | Tradingview

Per the SOL price prediction, the outlook is bullish in the short term, but it would be safer to manage expectations. A break below the 200-day EMA on the SOL/ETH pair could trigger another sell-off, with altcoins bearing the brunt. Key levels o each on the downside are 0.05 for the pair, $130 and $120 for Solana and based on ETH price forecast, traders keenly watch the levels at $2,500, $2,200.

Frequently Asked Questions (FAQs)

Support at $140 allowed bulls to collect liquidity.

This is unlikely, especially if SOL/ETH upholds support at 0.05362.

Solana shows immense potential to rally, but traders must practice risk management.

✓ Share:

John Isige

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

24/7 Cryptocurrency News

BTC Soars To $60K, CKB Surges 59%

Published

6 days ago

on

September 14, 2024

By


Cryptocurrency Prices Today (September 14): The broader market’s movement sparked considerable investor optimism on Saturday, embarking upon a bullish trajectory. Bitcoin (BTC) price pumped hard, topping the $60K mark, whereas Ethereum (ETH) crossed $2,400. Simultaneously, Solana (SOL) and XRP prices traded dominantly in the green territory, with Nervos Network (CKB) leading the market’s gains.

Meanwhile, the global crypto market cap surged by 3.31% over the past day to reach $2.11 trillion. Further, the total market volume noted an 8.6% increase in value to $66.54 billion today. Here’s a brief report on some of the top cryptocurrencies by market cap and their price movements today.

Cryptocurrency Prices Today: BTC, ETH, SOL, & XRP On Uptrend

The broader market today shows signs of a comeback ahead of the FOMC. With Fed rate cut odds rising, risk assets such as crypto appear to be leveraging a positive momentum. Meanwhile, the U.S. PPI data further bolstered investor sentiments, slightly exceeding the consensus estimate of 0.2%, increasing 0.3%. In the wake of these macroeconomic events, Bitcoin gained to break above $60K, while the broader market mimicked a bullish momentum.

Bitcoin Price Today

BTC price rested at $60,408 today, a remarkable 4.21% pump in the past 24 hours. The coin’s intraday low and high were recorded as $57,650.11 and $60,656.72, respectively.

BTC’s rising action aligns with $263.07 million inflows in Bitcoin ETFs as of September 13. Meanwhile, BTC’s dominance stood at 56.56%, a remarkable 0.37% increase over the past day. The flagship crypto’s market cap rested at $1.19 trillion today.

Ethereum Price Today

Simultaneously, ETH price gained nearly 3% in the past 24 hours and is currently trading at $2,434. The coin’s intraday low and peak were $2,338.14 and $2,462.80, respectively. Ethereum’s pumping movement aligns with $1.52 million inflows in spot Ethereum ETFs as of September 13, per Soso Value data. Moreover, ETH’s market cap rested at $292.89 billion today.

Solana Price Today

The crypto SOL witnessed a nearly 4% upswing in value and is currently trading at $139.60. The coin’s intraday low and high were $131.86 and $139.83, respectively. Solana’s market cap rested at $65.35 billion today.

XRP Price Today

Simultaneously, XRP price jumped slightly above 3% in the past 24 hours and is currently trading at $0.5784. The coin’s 24-hour low and high were $0.5607 and $0.5799, respectively. This pumping movement emerges in tandem with massive on-chain movements by Ripple, sparking discussions among market participants. XRP’s market cap rested at $32.59 billion today.

Meme Coins Prices Today

Dogecoin (DOGE) noted gains worth 5% in the past 24 hours and is currently trading at $0.1071. Similarly, Shiba Inu (SHIB) followed, pumping 4% over the past day to trade at $0.00001398.

Meanwhile, PEPE, WIF, and FLOKI prices gained 5%-7% today.

Top Cryptocurrency Gainers Prices Today

Nervos Network

CKB price noted a whopping 59% uptick as of writing and is trading at $0.01411. The coin’s 24-hour low and high were $0.009958 and $0.01648, respectively.

Bittensor

TAO price surged 11% in the past 24 hours to $322.41. The coin’s intraday low and high were $285.33 and $324.80, respectively.

Polygon (POL)

POL (ex-MATIC) price surged 10% over the past day to $0.4194. The upswing aligns with recent Binance listings for the coin, CoinGape Media reported.

Top Cryptocurrency Losers Prices Today

MANTRA

OM price slipped 3% over the past day to $1.12. The coin’s intraday low and high were $1.12 and $1.16, respectively.

TRON

TRX price waned 2% in the past 24 hours to $0.1479. The coin’s 24-hour low and peak were $0.1479 and $0.1514, respectively.

Quant

QNT price dropped 1.5% in the past 24 hours to $76.15. The coin’s 24-hour low and peak were $75.53 and $77.45, respectively.

Besides, the hourly time frame charts sparked further speculations over the cryptocurrency prices today. While BTC slipped 0.12%, ETH gained 0.07%, igniting uncertain sentiments over price action ahead.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

BTC Regains $54K, DOGE Up 6%, QNT Shoots 11%

Published

2 weeks ago

on

September 8, 2024

By


Cryptocurrency Prices Today (September 8): The broader market today regained an upward movement after a slumping action recently. Bitcoin (BTC) price reattained the $54K level, whereas Ethereum (ETH), Solana (SOL), and XRP traded dominantly in the green territory.

Meanwhile, the global crypto market cap soared 1.28% in the last 24 hours to reach $1.93 trillion. However, the total market volume saw a phenomenal 56.43% decrease in value to $42.88 billion.

Here’s a brief overview of some of the leading cryptocurrencies by market cap and their price action today, September 8.

Cryptocurrency Prices Today Show Signs Of Recovery

Notably, after a recent crypto market crash, today’s gains have reverberated optimism among traders and investors across the globe. BTC, ETH, SOL, and XRP prices gained nearly 1%-3% in the past 24 hours. Also, Dogecoin (DOGE) surfed among the day’s top gainers list. Let’s delve deeper into the crypto prices today.

Bitcoin Price Today

BTC price gained nearly 1% in the past 24 hours to trade at $54,318. The coin’s 24-hour low and high were recorded as $53,799.05 and $54,838.15, respectively.

Soso value data illustrated Bitcoin ETFs registering a weekly outflow of $706.19 million as of September 6. This marks the largest weekly outflows since the exchange-traded product’s inception this year.

Simultaneously, Bitcoin’s dominance stood at 55.71%, a 0.21% decrease over the past day. The flagship crypto’s market cap rested at $1.07 trillion.

Ethereum Price Today

ETH price gained nearly 2% in the past 24 hours to trade at $2,281. The coin’s intraday low and high were recorded as $2,237.41 and $2,310.19, respectively.

Spot Ethereum ETFs recorded $91.04 million in weekly outflows as of September 6. Nonetheless, ETH regained a pump as the week closed, igniting investor curiosity.

Solana Price Today

The crypto SOL’s price pumped slightly above 2% to reach $128 today. The coin’s 24-hour low and high were $125.19 and $129.29, respectively. Solana’s market cap rested at $59.86 billion.

XRP Price Today

Meanwhile, XRP price today increased by 1% to sit at $0.5275. The coin’s intraday low and high were $0.5221 and $0.5327, respectively. XRP’s market cap rested at $29.72 billion today.

Meme Coins Prices Today

Simultaneously, Dogecoin (DOGE) price gained nearly 6% in the past 24 hours and is currently trading at $0.09609. Even Shiba Inu (SHIB) price soared 1% to $0.00001293 today. PEPE, WIF, and FLOKI gained slightly over 1% in the past 24 hours.

Top Cryptocurrency Gainers Prices Today

SATS

1000SATS price surged 9% in the past 24 hours and is currently trading at $0.0003332. Its intraday low and high were $0.0003041 and $0.0003438.

Quant

QNT price soared 8% over the past day to reach $61.67. The coin’s 24-hour low and high were $57.02 and $63.69.

Gala

GALA price gained 8% in the past 24 hours to reach $0.0185. Its 24-hour low and high were $0.01724 and $0.01879.

Top Cryptocurrency Losers Prices Today

Litecoin

LTC price slipped 3% in the past 24 hours to reach $61.76. Its 24-hour low and high were $61.74 and $64.09, respectively.

DOGS

TON-based DOGS waned nearly 1.5% in the past 24 hours to reach $0.001017. The coin’s 24-hour low and high were $0.0009957 and $0.001063, respectively.

Helium

HNT price fell 0.6% over the past day to reach $7.99. The coin’s intraday low and high were $7.76 and $8.45, respectively.

Besides, the hourly time frame charts continued to solidify investor optimism on the cryptocurrency prices today. BTC price gained 0.14%, whereas ETH price gained 0.17%.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

VanEck Chief Defends Ethereum Against Recent Attacks, What’s In for ETH Price?

Published

2 weeks ago

on

September 7, 2024

By


Amid strong criticism for the Ethereum blockchain and its underperformance this year, VanEck head of digital assets – Matthew Sigel – has come out defending the network while citing its strong economic model. The ETH price has also been subject to criticism failing to show enough traction even after the launch of the spot Ether ETFs in July 2024.

VanEck’s Matthew Sigel Addresses Ethereum Criticism

Expressing his frustration over the recent ETH bashing, VanEck Head of Digital Assets – Matthew Sigel – is “exhausting and intellectually dishonest”. While comparing with the price-to-earnings (PE) ratio in traditional finance, Sigel emphasized the importance of “moneyness” for Layer 1 blockchains like Ethereum and Solana.

He said that users should always judge a blockchain by its usage, utility, and trust within its ecosystem as a medium of exchange, store of value, and unit of account. Sigel added that Ethereum’s core utility stems from its role in supporting validators by paying transaction fees, thus driving broader use in DeFi and other services.

The VanEck chief also argued that a token’s value comes from the demand for goods and services traded for it, with Ethereum’s economic activity contributing to its long-term value. Besides, Sigel also acknowledged some of the challenges facing the blockchain.

He said that the surge in Layer-2 solutions for Ethereum is driving capturing transaction fees, potentially reducing the revenue that the blockchain collects. However, its focus on data availability could become more lucrative as the ETH ecosystem evolves. Besides, Ethereum co-founder Vitalik Buterin recently shared that he’s not fond of holding L2 tokens.

Sigel added that Solana’s low has attracted several Defi players to the platform. However, he added that Solana’s fee should increase over time in order to justify its valuation.

ETH Price Faces Bearish Sentiment

Poor demand and continued outflows from spot Ethereum ETF have led to a lack of catalyst to trigger the ETH price rally. On the other hand, other macro factors and hackers selling $42 million of ETH have contributed to the ETH price slump.

As of press time, the Ethereum price is trading 2.6% down at $2,284 with a market cap of $274 billion. This comes amid the broader crypto market crash following the Nvidia stock rout on Friday.

The spot Ethereum ETF market is also seeing waning demand with over $500 million in total outflows since launch. On Friday, VanEck even decided to shut down its Ethereum Futures ETF amid waning market demand.

Interestingly, analysts continue to remain bullish on ETH believing that it’s the final calm before the storm.

✓ Share:

Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon