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Altcoin

Solana Hits Major Support at $141 Amid Bitcoin Drop, Analyst Says Time to Buy

AltcoinUpdates Staff

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Solana Hits Major Support at $141 Amid Bitcoin Drop, Analyst Says Time to Buy

Solana’s price action it is decreasing over the past 30 days, and the cryptocurrency recently dropped to $141.3, its lowest price in that time frame. Interestingly, this decline saw Solana reach a major support level, which could reverse course in its price action for the next 30 days. According to a social media post by crypto analyst Ali Martinez, Solana could turn bullish in the coming days if this support holds.

Solana obtains important support

Solana has struggled with trader attention along with other altcoins, with the most activity go to Ethereum after SEC approval Spot ETF on Ethereum. As a result, SOL has fallen dramatically from $187 over the past three weeks, losing approximately 24% of its value.

This fall was further aggravated due to The corresponding drop in Bitcoin in recent days. While Bitcoin fell below $65,000, Solana slipped to $141, testing support at its 200-day moving average.

As Martinez noted, the trip to the $141 support level appears to have signaled a reversal, at least in the short term. Notably, the TD Sequential indicator has issued a buy signal for Solana SOL on the daily timeframe, suggesting that now may be an opportune time to pick up the altcoin as it begins to rebound.

TD Sequential counts the number of candles in a trend, with a 9 indicating 9 periods of lower lows or lower highs. After 9 periods, the probability that the trend can reverse increases.

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After two consecutive red candles, SOL now appears on the verge of forming a green candle, according to the daily timeframe chart shared by the analyst.

“If this support holds, #SOL could bounce one to four daily candles,” Martinez noted.

SOL is currently trading at $145. Chart: TradingView

SOL Price forecast

At the time of writing, Solana is trading at $145.10 and appears to be already on a recovery path. If you look at a longer time horizon, you see that the last time Solana stopped at $141, the cryptocurrency would go on to rise 32% to $186. Repeating this price action we would see Solana go back up to $186 during the new week. If Bitcoin can also hold key support levels at $66,300, that could help SOL and other altcoins see some decent bounces from here.

However, not all TD indicator signals result in sustained uptrends. If Solana fails to hold above $140, this could lead to a further price decline towards another support at $130. Second Coinglass Long data vs. short, traders are still undecided on Solana’s direction. Specifically, 49.05% of Solana futures positions opened in the past 24 hours were long, compared to 50.95% of short positions.

Featured image from Getty Images, chart from TradingView



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We are the editorial team of Altcoin Updates, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on Altcoin Updates, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoin

Top 3 Ethereum-Based Altcoins 3 Times

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Top 3 Ethereum-Based Altcoins 3 Times

Despite the increasing selling pressure in the cryptocurrency market, mid-cap and small-cap altcoins have seen an increase in buying sentiment. This indicates a shift in interest among users towards these cryptocurrency tokens.

Are you thinking of investing in ETH-based altcoins for the next AltSeason?

Scroll down because in this article we have covered the top three Ethereum-based altcoins that have the potential to see a huge uptrend in their respective portfolios in the near future.

Safe Price Analysis (SAFE):

Despite the growing bearish sentiment in the cryptocurrency market, SAFE price has seen bullish price action for the third consecutive day, highlighting the increased price action for the altcoin in the market. Furthermore, it is currently trading at a discount of 76.3% from its ATH of $4.01.

TradingView: SAFE/USDT

The technical indicator, MACD, shows a steady decline in the red histogram, highlighting an increase in bullish sentiment in the cryptocurrency market. In addition, the averages show a potential bullish convergence, suggesting a high possibility of a positive reversal.

If the bulls continue to gain momentum, SAFE coin price will prepare to test its resistance level of $1,450. On the contrary, a bearish action could send this altcoin crashing towards a new all-time low (ATL).

Aethir (ATH) Price Analysis:

Aethir price has seen a bullish price action adding over 10% to its portfolio with a trading volume of $40.126 million despite a bearish cloud over the cryptocurrency space. Notably, with a market cap of $292.916 million, this altcoin has secured the 216th position in the global cryptocurrency list.

TradingView: ATH/USDT

The MACD indicator has been showing a steady rise in the green histogram. However, its RSI has been showing a strong bearish curve in the 1D time frame. This suggests mixed sentiment for the ATH price in the cryptocurrency market.

If the market holds Aethir price above its important support level of $0.07050, the bulls will gain momentum and prepare to test its upper resistance level of $0.08415. On the contrary, if the bears overpower the bulls, this altcoin will prepare to test its low of $0.06435.

Neiro Ethereum (NIERO) Price Analysis:

Built on the Ethereum chain, Neiro Ethereum is a project that has a total supply of only 1 billion tokens. Positively, it has no buy/sell fees or team tokens for governance or community approach. It operates on its own and promotes itself as the next big opportunity in the cryptocurrency world.

With a trading price of $0.1852 and a total supply of 1 billion tokens, it has successfully secured the 234th position in the global cryptocurrency ranking, with a market capitalization of $185.446 million.

Notably, it is up 53.86% over the past day with a trading volume of $36.64 million, a decline of 7.68%. Furthermore, it is up about 1,200% since its inception, highlighting a strong bullish outlook for the altcoin in the near future.

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Altcoin

Top 6 Altcoins Set for Explosive Rally Before 2025

AltcoinUpdates Staff

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The cryptocurrency market is on the verge of significant change as we approach 2025. The Altcoin Daily Analyst Austin predicts that any changes in monetary policy could trigger a strong rally in altcoins, especially with a possible turn in the Federal Reserve’s benchmark interest rate expected in September.

This pivot could drive explosive growth in the cryptocurrency market, benefiting Ethereum, Solana, and several promising new altcoins. Here are some altcoins ranging from under $1 to $2 that can give you the highest returns in the current market crash.

We are excited, are you? Let’s dive in!

Top 6 Cryptocurrencies to Watch

Aethir: The Decentralized GPU Marketplace

Aethir is positioning itself as a leader in decentralized cloud infrastructure for gaming and AI. With over $36 million in annual recurring revenue, Aethir is addressing the growing demand for GPU computing driven by major tech companies like Google and Microsoft. Its decentralized infrastructure leverages underutilized GPUs, making it a key player in the burgeoning tech industry. The current price is $0.07176.

Ondo: The Best Bet in the RWA Sector

Next up is Ondo, whose real-world asset protocols are changing the tokenization of financial assets. With an annual dividend of 5.3% USDY, ONDO is the governance token for the Ondo DAO and Flux Finance. This token has seen strong demand, demonstrated by consistent investor buy-ins. Recently, ONDO’s price has dropped 35% in two months, forming a triangle pattern that suggests a breakout. Rising OTC holdings and reduced selling pressure suggest a bullish outlook. The current price is $0.9251.

Lukso: Blockchain for Creators and Social Media

Lukso’s social and cultural blockchain unites creators, brands, and users. An Ethereum doppelganger, Lukso adds Universal Profiles and gas-free transactions to blockchain usage. Its creative strategy and strong leadership make it a blockchain mass adoption project to watch. Current price is $1.71.

AIT Protocol: Decentralized AI Data Annotation

The AIT Protocol addresses the need for decentralized work in AI data annotation. Uniquely, the AIT Protocol connects human trainers with AI model owners to improve AI models through a decentralized marketplace. However, its adoption in Asia and strategic investments suggest that it could disrupt AI. The current price is $0.1169.

Foxy (Line): Meme coin with level 2 potential

Foxy, a meme coin for Linea Layer 2 Ethereum scaling, has an endorsement from ConsenSys. Foxy stands out in Ethereum Layer 2 due to Linea’s MetaMask integration and fast transactions. Additionally, Linea adoption and reduced transaction costs are influencing its growth. The current price is $0.01116.

Off the Grid: Emerging Altcoin for Gaming

Lastly, on the list is Off The Grid, developed by Godzilla. This highly anticipated AAA game promises to make waves in the crypto gaming industry. Although it hasn’t launched yet, positive feedback from industry experts supports its potential success.

Infrastructure projects like Immutable and specific games like Xers and Star Heroes are also worth considering for those interested in crypto gaming.

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Top Analyst Admits He Ignored XRP For Years, But Now Finds XRP Chart Very Interesting

AltcoinUpdates Staff

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Top Analyst Admits He Ignored XRP For Years, But Now Finds XRP Chart Very Interesting

Scott Melker, host of The Wolf of All Streets podcast, said he hadn’t paid attention to XRP charts for a while, but now finds them intriguing.

Melker revealed this in a recent send after analyzing XRP’s pattern on the weekly timeframe. He shared a chart that suggests XRP is on track to break out of a significant resistance channel.

While acknowledging that a rejection is likely, Melker noted that a subsequent breakout is on the horizon. Furthermore, the analyst emphasized that regardless of an individual’s perception of XRP and its performance, this upcoming price action is worth keeping an eye on.

Notably, Melker’s latest analysis on XRP comes as the asset has outperformed the broader bear market, which staged a solitary comeback while others fell. XRP surged more than 10% on Wednesday, briefly emerging as the day’s best-performing cryptocurrency among the top 100.

This development has triggered renewed interest in XRPeven among market observers like Melker and Ali Martinez, who rarely comment on XRP’s price action.

XRP Resistance Levels to Watch

In his latest commentary, Melker identified immediate resistance levels that XRP must overcome on its climb to higher prices. These levels include $0.75 and $0.93, which XRP must overcome to reach $1, with additional barriers at $1.3 and $1.9.

Scott Melker's XRP ChartScott Melker’s XRP Chart

Interestingly, for the immediate barrier of $0.75, Melker is not the only analyst to emphasize its importance before aiming higher. Analyst “Crypto Adict” also commented on this level yesterday, urging caution versus ambitious goals like $100 when there are more immediate challenges.

The impact of this resistance level was evident in March when XRP rose to $0.744 in one day but he was unable to continue his ascent.

In his analysis, Ali Martinez echoed Melker’s sentiment by highlighting the $0.93 price level as a significant hurdle. Martinez stressed out that once XRP breaks above this level, it will effectively end its nearly seven-year downtrend, opening the door to higher highs.

At press time, XRP is back just above $0.60 after hitting $0.6556 yesterday, reflecting an 8% decline in the past 24 hours. Notably, XRP’s uptrend has been interrupted by Bitcoin’s volatility, as the leading asset fell back to the $63K range yesterday.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Altcoin

Dogecoin (DOGE), ETFSwap (ETFS), and Shiba Inu (SHIB) are poised to lead the altcoin rally in a big way

AltcoinUpdates Staff

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Dogecoin (DOGE), ETFSwap (ETFS), and Shiba Inu (SHIB) are poised to lead the altcoin rally in a big way

Dogecoin (DOGE): Altcoin Rises From Meme Origins to Market Rally’s Top Spotlight

Dogecoin (DOGE), initially launched in 2013 as a “joke currency” based on a popular Shiba Inu meme, is now positioned to lead a major altcoin rally. Despite its humorous origins, Dogecoin is gaining popularity among investors due to its platform utilities, including transaction speed and payment methods. Currently, Dogecoin (DOGE) is trade at around $9,139, a recovery followed by a weekly low of $0.11.

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