Connect with us

Solana

Solana Declines Amid Its Web3 Mobile Phone Launch, As Bitgert Remains Stable

Published

on

Solana Declines Amid Its Web3 Mobile Phone Launch, As Bitgert Remains Stable

Key Point:

  • Solana Web3 Mobile Phone is launching, but the coin is already 12% down at the time of this writing
  • Bitgert price growth has been interrupted by the bearish market condition, but the price is still stable

The crypto markets are crashing again, Bitgert (BRISE) and Solana’s projects being some of the cryptocurrencies that are getting it rough. Solana is already 12% down for the past 24 hours, which is the biggest decline for all the top 10 largest cryptocurrencies at the time of this writing. That’s how huge the bear market has triggered the massive sell-off at Solana. 

On the other hand, the Bitgert price has also tumbled, but the price has stabilized. Bitgert is posting a smaller decline than Solana, and there is a possibility of the Bitgert coin recovering from the losses soon. This is because the selling pressure on the Bitgert project has been very low, which makes Bitgert quite attractive.

Bitgert stable performance is due to the massive hype that the Bitgert project has created in the market. The hype is real and has been created by the huge massive developments that Bitgert is building. There are many new Bitgert holders joining because of the Bitgert BRC20 blockchain.

The Bitgert blockchain is attracting attention because of its zero gas fee in the market. With a 100k TPS, Bitgert has also become the fastest blockchain. These are the main features that have made Bitgert the most adopted blockchain. There are also many other disruptive products and projects that are coming into the Bitgert ecosystem.

These are developments keeping Bitgert price stable since most Bitgert holders are holding. The number of new investors is also growing every day. Therefore, Bitgert might will do better than Solana in the next few months.

Advertisement

But the Solana might also come out more aggressive from the current bear run. This is because Solana is also having some incredible developments coming up. The Solana Web3 Mobile Phone products are going to be a big thing. So, Solana may be down but still have the potential to do well in the coming months.

Solana still has massive developments coming up. The Solana Defi is growing fast and is expected to do quite well this year. In addition to that, Solana ecosystem is also growing faster. Therefore, Solana might do well in the coming months but might not beat Bitgert.

The post Solana Declines Amid Its Web3 Mobile Phone Launch, As Bitgert Remains Stable appeared first on .

Advertisement

Analysis

Biggest Movers: MATIC, SOL Move Towards 4-Month Highs On Saturday

Published

on

Biggest Movers: MATIC, SOL Move Towards 4-Month Highs On Saturday

Polygon rallied to its highest point in nearly four months on Saturday, as the token climbed to the $1.00 mark to start the weekend. Solana was also trading at a multi-month high, as it rose by over 10% earlier in today’s session. As of writing, the global crypto market cap is trading nearly 3% higher.

Polygon (MATIC)

Polygon (MATIC) was a notable gainer on Saturday, as the token rose to its highest point since May.

Less than 24 hours after trading at a low of $0.9141, MATIC/USD climbed to a peak of $1.02 to start the weekend.

Advertisement

This is the strongest point that the token has traded at since May 7, and comes after prices rallied past a key resistance level.

MATIC/USD – Daily Chart

Looking at the chart, this resistance was at the $0.9500 region, which was last breached on July 31. However, the move eventually turned into a false breakout.

As of writing, another resistance level was hit, with the 14-day relative strength index (RSI) now tracking at a ceiling of its own.

This is the 66 point on the index, which has been in place since July 17, when the RSI moved to a high above the 80 level.

Following earlier highs, MATIC is once again trading below $1.00, as bulls retreated from their previous positions.

Advertisement

Solana (SOL)

In addition to MATIC, solana (SOL) was another big mover in today’s session, with it also climbing to its highest point since May.

SOL/USD raced to an intraday high of $48.18 to start the weekend’s session, as bulls attempted to recapture the $50.00 point.

The move sees solana hit its highest point since May 25, and comes as the 10-day (red) moving average (MA), crossed above the 25-day (blue) MA.

SOL/USD – Daily Chart

This is the first time since mid-July that such a cross has occurred, with prices rising from a floor of $32, to a ceiling of $47 on that occasion.

In addition to this, the 14-day RSI has also broken its ceiling, surging above the 59.20 resistance for the first time since July 18.

Advertisement

Register your email here to get weekly price analysis updates sent to your inbox:

Can solana hit $50.00 in August? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Advertisement

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Continue Reading

Cryptocurrency news

Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart?

Published

on

Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart?

Solana price has attempted to revisit the $44 price mark again and it is a matter of time till the coin displays its next move. Over the last week the coin rose by 14% and in the past one day there has been a close to 3% increase in market value.

The coin has demonstrated steady recovery in the last 24 hours. At the moment bullish force has built up considerably in the market and it could push price of SOL higher with sustained demand. Technical outlook for the coin remained positive at the time of writing.

Solana price previously in the past had not managed to break past the $44 price mark. For SOL to finally break past that level, demand needs to consistently go up. If the coin does not remain above the $44 level, it would fall to trade near its support zone. The global cryptocurrency market cap today was at $1.21 Trillion, with a 0.6% hike in the last 24 hours.

Solana Price Analysis: Four Hour Chart

Solana was priced at $44.79 on the four hour chart | Source: SOLUSD on TradingView

SOL was trading at $44.79 at the time of writing. After multiple attempts the bulls were again attempting to move past the aforementioned price level. Overhead resistance for the coin stood at $46, however, moving past the $44 price zone will itself be a challenge for the bulls considering the bulls failed twice previously.

Advertisement

Local support for Solana price stood at $40. If the bulls manage to cross the $46 price level then it could touch the  $50 price level. Amount of SOL traded in the previous session increased suggesting increased buying strength.

Technical Analysis

Solana displayed increased buying pressure on the four hour chart | Source: SOLUSD on TradingView

SOL’s technical outlook reflected bullishness on the four hour chart. The moment Solana price moved up, the indicators reflected the same sentiment.

The Relative Strength Index was above the 60-mark signifying that buyers exceeded sellers at press time as demand for the altcoin soared.

Solana price was also above the 20-SMA line and that meant buyers were responsible in driving the price momentum. SOL was above 50-SMA and 200-SMA signifying increased bullish momentum.

Solana was depicting buy signal on the four hour chart | Source: SOLUSD on TradingView

The past week for SOL was quite beneficial to the coin. Over the last week the bulls gathered momentum which is why a push to the $44 mark was possible. Moving Average Convergence Divergence displays the price momentum and the reversals in the same.

Advertisement

MACD underwent a bullish crossover and formed green signal bars which are in accordance with the buy signal and increased demand. The Chaikin Money Flow points towards the capital inflows and outflows. CMF broke past the half-line into a positive zone which meant increased capital inflows.

Continue Reading

btcusd

SOL Makes Another Shot At $44, After Two Failed Attempts This Week

Published

on

SOL Makes Another Shot At $44, After Two Failed Attempts This Week

Solana (SOL) bulls are determined to push the price of the coin higher and breach the $44 level.

  • Solana price has shown strong bullish movement; support found at $40.
  • Coin has peaked by more than 70% in comparison to its lowest level in 2021.
  • The daily chart’s ascending triangle pattern hits massive gains in the coming days.

Solana is trying to make that great comeback again after it has tried and failed twice to breach the $44 level.  

SOL Currently Stuck At $43

According to CoinMarketCap, Solana has dropped by 2.30% and is trading at $43.41 as of this writing. The bulls are determined to push the price and reach $44 or higher. SOL is rallying around the $44 key resistance zone today and it looks like it just needs a little push to get there.

Now, if the buyers fail to maintain the current momentum, then this could be the coin’s third failed attempt to breach the target level. At this point, the key support level is found at $40.

Solana is observed to have impressive trading volume but the buyers need to keep that momentum going. RSI continues to hover above 50 points.  Now, if the coin manages to stay at this target range then SOL has a good probability to breach the resistance.

Advertisement

Moreover, MACD has formed a bullish cross pattern today which looks enticing for many buyers but it’s still rather premature to make a call.

Fake Breakout For SOL?

In case SOL’s price hovers above $44, history tells us that this can just be a fake breakout. So, here’s what happens: if SOL fails to cross over the key resistance, then the bears may take over and trigger SOL’s downfall to $40.

On the other hand, if SOL can successfully breach the critical resistance level, then SOL has the potential to shoot for $60; but this is wishful thinking at this point in time.

The price of the SOL/USD pair bounced back on Thursday peaking at $45.07 as impacted by the recent US consumer data on inflation.  It is said to be the highest price point reached by SOL this year since July 30. Conversely, the aforesaid price is dubbed to be 71% higher than the lowest level registered in June summing up the total market cap to roughly $15.40 billion.

Notably, Solana was able to reach this goal because of its robust market share in NFT and DeFi as it currently hosts around 75 DeFi projects with a combined TVL of $1.98 billion. With the current figures, SOL is undoubtedly one of the strongest cryptos as it ranks as the fifth largest platform alongside Avalanche, Ethereum, Tron, and BNB.

Advertisement
SOL total market cap at $15.1 billion on the daily chart | Source: TradingView.com    Featured image from The Independent, Chart from TradingView.com

Continue Reading

Top posts

Binance CEO Says Exchange Recovered $450 Million From The Curve Finance Attack Binance CEO Says Exchange Recovered $450 Million From The Curve Finance Attack
$450 Million1 hour ago

Binance CEO Says Exchange Recovered $450 Million From The Curve Finance Attack

Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from hackers....

Biggest Movers: MATIC, SOL Move Towards 4-Month Highs On Saturday Biggest Movers: MATIC, SOL Move Towards 4-Month Highs On Saturday
Analysis4 hours ago

Biggest Movers: MATIC, SOL Move Towards 4-Month Highs On Saturday

Polygon rallied to its highest point in nearly four months on Saturday, as the token climbed to the $1.00 mark...

Warning! Gnox (GNOX), Bitcoin (BTC) And Fantom (FTM) Bullish Movement In Late August Confirmed Warning! Gnox (GNOX), Bitcoin (BTC) And Fantom (FTM) Bullish Movement In Late August Confirmed
Cryptocurrency5 hours ago

Warning! Gnox (GNOX), Bitcoin (BTC) And Fantom (FTM) Bullish Movement In Late August Confirmed

The market is seeing a lot of bullish activity in the last few days of August and this is being...

Bitcoin, Ethereum Technical Analysis: ETH Hits $2,000 For First Time Since May Bitcoin, Ethereum Technical Analysis: ETH Hits $2,000 For First Time Since May
Analysis5 hours ago

Bitcoin, Ethereum Technical Analysis: ETH Hits $2,000 For First Time Since May

Ethereum was trading above $2,000 to start the weekend, as the token hit its highest point since May. Crypto markets...

Here’s Everything You Need To Know About The Newest Addition To The DeFi Sector – HachiFi (HACHI) Here’s Everything You Need To Know About The Newest Addition To The DeFi Sector – HachiFi (HACHI)
HachiFi5 hours ago

Here’s Everything You Need To Know About The Newest Addition To The DeFi Sector – HachiFi (HACHI)

No doubt, the cryptocurrency market has been around for many years. For the past decade, we have witnessed the release...

Axie Infinity Under Bearish Grip, But AXS Investors Still Optimistic Axie Infinity Under Bearish Grip, But AXS Investors Still Optimistic
Axie Infinity10 hours ago

Axie Infinity Under Bearish Grip, But AXS Investors Still Optimistic

Axie Infinity (AXS) price has nosedived following a surprise entry by the bears as seen in the daily price chart. ...

Netskope Discovers Hackers Are Using Google Sites And Microsoft Azure To Steal Crypto Netskope Discovers Hackers Are Using Google Sites And Microsoft Azure To Steal Crypto
Coinbase10 hours ago

Netskope Discovers Hackers Are Using Google Sites And Microsoft Azure To Steal Crypto

Attackers are taking advantage of certain SEO techniques to direct users to phishing sites for wallet apps like Metamask and...

Tezos [XTZ]: Did you buy the bottom in June? If yes, that means… Tezos [XTZ]: Did you buy the bottom in June? If yes, that means…
Altcoins11 hours ago

Tezos [XTZ]: Did you buy the bottom in June? If yes, that means…

XTZ holders, especially those who purchased near the bottom of the bear market in June, are up a tad over...

Philippines’ Unionbank To Support Cryptocurrency Exchange Via Mobile App Philippines’ Unionbank To Support Cryptocurrency Exchange Via Mobile App
App12 hours ago

Philippines’ Unionbank To Support Cryptocurrency Exchange Via Mobile App

Union Bank of the Philippines, commonly known as Unionbank, has announced the upcoming launch of another crypto service for its...

Curve Finance’s [CRV] condition after a $450,000 exploit recovery Curve Finance’s [CRV] condition after a $450,000 exploit recovery
Altcoins13 hours ago

Curve Finance’s [CRV] condition after a $450,000 exploit recovery

Curve Finance [CRV], the on-chain liquidity exchange, was attacked in what was termed a “DNS cache poisoning” on 9 August....

Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart? Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart?
Cryptocurrency news14 hours ago

Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart?

Solana price has attempted to revisit the $44 price mark again and it is a matter of time till the...

Soccer Clubs FC Barcelona And Real Madrid File Joint Trademark Application For Metaverse Activities Soccer Clubs FC Barcelona And Real Madrid File Joint Trademark Application For Metaverse Activities
barca studios14 hours ago

Soccer Clubs FC Barcelona And Real Madrid File Joint Trademark Application For Metaverse Activities

Two of the biggest soccer clubs in Spain, Real Madrid and FC Barcelona, have applied to receive trademarks for some...

MATIC’s close above this range can provoke rally toward $1.18 MATIC’s close above this range can provoke rally toward $1.18
Altcoins15 hours ago

MATIC’s close above this range can provoke rally toward $1.18

Polygon’s [MATIC] recent bull run evoked a break beyond the EMA ribbons to reveal a robust buying revival. As the...

Ethereum Price Broke Past $1,800 Despite Higher Demand At Lower Levels Ethereum Price Broke Past $1,800 Despite Higher Demand At Lower Levels
Cryptocurrency news17 hours ago

Ethereum Price Broke Past $1,800 Despite Higher Demand At Lower Levels

Ethereum price flashed recovery over the last 24 hours after it witnessed consolidation at the $1,800 price mark. Over the...

BTC futures market liquidation has these tips for BTC long-term holders BTC futures market liquidation has these tips for BTC long-term holders
Bitcoin17 hours ago

BTC futures market liquidation has these tips for BTC long-term holders

Recently, Bitcoin’s [BTC] fight to reach $24,000 has been met with defeat. This was the case when it reached $24,800...

3 trends that will shape the future of Bitcoin mining 3 trends that will shape the future of Bitcoin mining
Guest Post18 hours ago

3 trends that will shape the future of Bitcoin mining

3 trends that will shape the future of Bitcoin mining Marco Streng · 1 hour ago · 3 min read...

Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon
ada19 hours ago

Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon

Cardano has been one of the cryptocurrencies that have been able to hold despite the market crash. With the recent...

GAIMIN’s Early Access Event Opens Its Platform And Monetization App To Gamers GAIMIN’s Early Access Event Opens Its Platform And Monetization App To Gamers
GAIMIN19 hours ago

GAIMIN’s Early Access Event Opens Its Platform And Monetization App To Gamers

press release PRESS RELEASE. Zug, Switzerland, 12th August 2022: GAIMIN announces the opening of its gaming and monetization platform to...

Trending

Daily Bitcoin MiningEarn At least $50 daily with just your phone