Synesis Foundation partners with AirMoney DEGN for DePIN-focused consumer hardware

Synesis Foundation and AirMoney DEGN partner to enhance AI and DePIN hardware. AirMoney DEGN device will support AI data validation and reward users in crypto. Partnership boosts decentralized data validation and expands DePIN utility. Synesis Foundation has announced an exciting partnership with AirMoney DEGN to accelerate the adoption of decentralized hardware within the AI and […]

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Solana (SOL) Consolidates in Symmetrical Triangle Analyst Reveals $160 Target On Breakout

Solana (SOL) is now trading at a critical juncture following last weeks market surge. The token has climbed over 20% from its recent local lows, now testing a crucial supply level around $150.  Related Reading: XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally Key Levels To Watch This resistance zone has drawn the attention of analysts and investors, with many believing Solana is on the verge of a rally to higher price levels. Among those who are bullish on SOL is prominent analyst Carl Runefelt, who recently shared a detailed analysis, predicting that Solana could reach new highs within days if the current momentum continues. As the broader market continues to gain strength, investors are eagerly awaiting Solanas next move. A successful breakout above $150 could signal a confirmed uptrend, paving the way for a potential rally. However, the coming days will be pivotal for SOL as it approaches this key level, with the market closely watching whether it will reclaim higher ground or face renewed resistance. Solana Bullish Pattern About To Break  Solana (SOL) is currently testing crucial supply levels that could pave the way for a significant rally to higher prices. After days of consolidation, the altcoin looks ready to break out and confirm a daily uptrend. Many analysts and investors are closely watching for the next move. This potential shift comes as the entire crypto market has turned from fear to optimism, spurred by the Federal Reserve’s recent decision to cut interest rates, which has breathed new life into the market. Analyst Carl Runefelt, one of the prominent voices in the crypto space, has shared his technical analysis on X, revealing that Solana has formed a symmetrical pattern. According to Runefelt, if SOL breaks out of this pattern, it could trigger a substantial upward move, with price targets around $160. The symmetrical triangle, a key technical formation, typically signals a strong price movement after a prolonged period of consolidation. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed As Solana hovers near this critical level, the market eagerly awaits confirmation of a breakout. Investors expect a move above $150, confirming the uptrend and likely leading to higher price levels in the coming weeks. For now, all eyes remain on Solanas ability to break through this resistance and potentially rally to new heights. SOL Technical Analysis: Price Levels To Watch Solana (SOL) is currently trading at $150 after testing the daily 200 moving average (MA) at $154 as resistance. This key technical level has kept the price in check, and SOL is now entering a consolidation phase. Investors are optimistic, and rising demand could soon trigger a breakout from this consolidation. To keep momentum, SOL must reclaim the 1D 200 MA and target new highs beyond $164. This price has worked as a crucial resistance; if broken, it would confirm the continuation of a daily uptrend. A successful breakout at this level could push SOL toward even higher prices, potentially setting the stage for a run to challenge its all-time highs. Related Reading: SUI Price Sits 40% Below All-Time High As TVL Approaches $1 Billion However, failure to break above the daily 200 MA could signal a shift in sentiment. In this case, SOL could retrace to key support levels, with potential targets around $140 or even lower. This would indicate a short-term correction before another attempt at reclaiming higher price levels. Investors are closely watching SOLs next moves to determine the coin’s near-term direction. Featured image from Dall-E, chart from TradingView

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Solana (SOL) Hits Key Milestone, But Investors Are Quickly Diversifying To SUI & FXGuys, See Why

Solana (SOL) has just achieved a significant milestone, marking a crucial moment in its journey. Despite this achievement, the DeFi space is seeing a notable shift as investors increasingly move their attention and capital towards emerging projects like Sui (SUI) and FXGuys ($FXG). Why are we witnessing this investor move? Stick around to discover. Solana […]

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Metaplex unveils indexing and data availability network for Solana

Metaplex Foundation announced the Metaplex Aura Network on September 23, 2024. Aura is a decentralised indexing and data availability platform designed to extend the Solana and Solana Virtual Machine networks. MPLX price rose 12% amid the news and overall crypto market surge. The Metaplex Foundation, the non-profit supporting the Metaplex Protocol, has announced a new […]

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Analyst Predicts A Solana Price Crash To $80 If This Happens

Veteran crypto analyst, Peter Brandt has unveiled a new bearish forecast for Solana (SOL), predicting a massive price crash to new lows around $80. Despite this grim outlook, there remains a potential for a price recovery as other analysts foresee Solana jumping as high as $208. SOL Heading For $80 Price Crash As of writing, the price of Solana just hit $150, up from an initial value of $148 and successfully breaking past resistance levels around $149. This significant price increase represents an 8.49% surge, underscoring investors’ strong interest and demand for the altcoin.  Related Reading: Dogecoin Forming First Golden Cross In 4 Years, Is A 3700% Rally To $3.8 Possible? Despite the recent bullish performance, Brandt has issued a bleak forecast for Solana, anticipating a steep 46.67% price crash in its price from current levels. The crypto analysts pessimistic prediction on X (formerly Twitter) is grounded on the possibility of Solana failing to break through key support levels. Brandt points out that if Solanas price falls below the $129 support mark, and this support gives way, then a large rectangle pattern would be complete. This concluded rectangle could lead to a significant price drop, with a potential downward spiral to $80.  Following his post, a crypto community member questioned Brandt on why he refers to the pattern as a rectangle, rather than a descending triangle. He also inquired if the wick of the July high was influencing his classification of this rectangle.  Responding, Brandt clarified that the interpretation of whether it is a rectangle or a descending triangle depends on how the boundaries of the chart pattern are drawn. He stated that regardless of wicks, closing prices, real body and candle sticks, both shapes could lead to similar expectations in terms of price movements.  In his Solana price chart, Brandt also noted a new resistance level around the $204 mark has emerged for the altcoin, suggesting a possibility for the cryptocurrency to reach that threshold.  Moving forward, the implications of an $80 price decline for Solana would reflect a considerable downside risk that could be financially detrimental for investors. As Solana continues to navigate the volatile market, investors can monitor key changes in the cryptocurrencys trajectory to make more informed investment decisions.  Solana Price Decline To Spark $208 Rally While analysts like Brandt are anticipating a price crash for Solana, another market expert identified as TraderXO on X has provided a more conservative price decline that would precede a major bull rally.  Related Reading: Is This The End For Ethereum Or A Generational Opportunity? Essentially, TraderXO is bullish on the long-term outlook of Solana. The analyst revealed that the price of Solana could begin trading into the $120s again, declining from its present price of $150.  However, the analyst revealed that he would be considering longing again around this declined level, anticipating a major bull run to $208 for the cryptocurrency. For this to happen, Solana will have to experience a significant 38.67% increase from its current price.  Featured image created with Dall.E, chart from Tradingview.com

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Solana Launches Play Solana Gen1 Handheld Web3 Gaming Device

In an exciting turn of events, on September 19, 2024, Solana at the Token 2049, Singapore announced the…

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Solana (SOL) Could Crash 40% If It Stays Below $140 Top Analyst Shares Insights

Solana (SOL) faces significant risk as the broader cryptocurrency market rebounds from local lows, yet SOL struggles to break above the crucial $140 resistance level. This underperformance has raised concerns among investors, with many worried about Solana’s inability to keep up with the markets recent surge.  Some analysts are even predicting a deep retrace to [...]

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XRP Has Surpassed Bitcoin, Ethereum, And Solana Combined In This Metric

The long-standing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has finally made significant progress in court, and the case may be nearing its end, with a surge for XRP. As expected, this development revitalized interest in XRP, Ripple’s native cryptocurrency, which in turn led to a noticeable surge in XRP’s activity across the crypto industry.  On-chain data reveals a surge in the number of transactions and trading volumes for XRP on major cryptocurrency exchanges. One of the most noteworthy instances of this trend can be seen on the South Korean exchange, Upbit, where XRP trading volume has surged dramatically. This surge has been so pronounced that XRP’s trading volume on Upbit has eclipsed that of major cryptocurrencies like Bitcoin, Ethereum, and Solana. The price of XRP experienced a rapid surge in the immediate aftermath of a pivotal court ruling by Judge Analisa Torres, a decision that Ripple executives and the community interpreted as a positive outcome for the payments technology company. As reported by Bitcoinist, the federal judge ordered Ripple to pay $125 million in civil penalties to the U.S. Securities and Exchange Commission (SEC), which is significantly lower than the $2 billion initially sought by the regulator.  Related Reading: CryptoQuant CEO Says Bitcoin Price Could Reach New ATH If It Holds This Level In reaction, XRP surged from $0.50 to $0.6368 in less than two hours, according to data from Coinmarketcap. This sharp increase in value was accompanied by an extraordinary spike in trading activity, particularly on the South Korean-based exchange Upbit. During this period, Upbit’s trading volume reached an astounding 746 million XRP, valued at over 610 billion KRW within a 24-hour time frame.  At the height of this trading frenzy, XRP accounted for more than 30% of the total volume on the exchange. This huge trading volume was enough to account for 14% of the total transactions worldwide after the court ruling. Chad Steingraber, a fervent XRP enthusiast, shared this statistic on social media platform X.  Bithumb, another prominent cryptocurrency exchange in South Korea, also witnessed a dramatic increase in XRP trading volume. The altcoin’s trading volume surged past other major cryptocurrencies, including Bitcoin, Ethereum, and Solana, accounting for 22% of the total trading volume on the exchange. Whats Next For XRP? The recent ruling means XRP is now free from the burden of the lawsuit that has hampered its price growth for the past four years. However, despite this positive development, the case could continue to cast a shadow over XRP if the SEC decides to appeal the ruling. An appeal could extend the legal proceedings, thereby prolonging the uncertainty that has followed its price performance. Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The Clear Winner At the time of writing, XRP is trading at $0.6046. The recent price surge means the cryptocurrency has broken out of a descending triangle pattern again. According to a recent technical analysis, a significant breakout from this pattern could translate into an extended XRP price surge into new all-time highs. Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The Clear Winner

A crypto analyst has reignited the debate between Ethereum (ETH) and Solana (SOL), evaluating which cryptocurrency was more superior. Considering recent market trends and performances of both altcoins, the analyst has finally identified a clear winner in the competition.  Solana Wins Battle Against Ethereum In a recent X (formerly Twitter) post, legendary crypto trader and [...]

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Solana ETF Approval Boosts Brazils Crypto Investment Hub Status

On August 7, Brazils Securities and Exchange Commission (CVM) approved the countrys first Solana ETF. This ETF, one…

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Solana Gains 40% Post-Crash; Can SOL Retest the $184 Mark?

Today’s top gainer, Solana (SOL), registered the largest gains among the top five key players in the crypto…

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Solana Faces Uncertainty: Expert Explains Impact Of Jumps Rumored Exit

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, [...]

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Solana Rebounds Strongly, Gaining 15% Against Bitcoin in Sentiment Surge

Solana (SOL) has seen a notable surge in the past 24 hours, climbing +7.5% amid increased sentiment, according to market…

The post Solana Rebounds Strongly, Gaining 15% Against Bitcoin in Sentiment Surge first appeared on The Crypto Basic.

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Solana plummets to near $110 amid $1 billion crypto liquidation

Solana has plunged more than 20% to trade near $110 as crypto traders see more than $1 billion in trading positions wiped out in the past 24 hours. SOL dipped as Bitcoin led the crypto market in the bloodbath that had BTC testing lows of $49k and Ethereum tumbling to under $2.2k. Solana, which traded […]

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Worlds First Solana ETF Makes $2.75M on First Day of Listing

Brazil took the headlines after becoming the pioneer in Solana ETFs. Out of the two SOL ETFs that…

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Solana Price Crashes Below $160 Amid Revelations Of FTXs Hidden SOL Stash

The Solana price has been rocked by the latest bombshell revelations surrounding the collapse of crypto exchange FTX. According to a whistleblower claiming inside knowledge of FTX’s operations, the now-bankrupt company is secretly holding a massive stash of Solana tokens – up to 8% of the entire SOL supply. Triggering Fears Of Massive Sell-Off By the numbers, if these allegations are true, this would equate to approximately 46.5 million SOL tokens worth about $7 billion at the current market price, which is $155 at the time of this writing.  Related Reading: Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA “I’m not saying Solana will go to zero, but if this news is true and FTX starts to sell the tokens in the open market, then it could dump the price of Solana significantly,”  warned a crypto user who spread the news on social media site X, known only as Wise Advice. In the wake of the news, Solana’s price plummeted below the critical $160 support level, dropping over 9% in the past two weeks and nearly 4% in the past 24 hours as rumors of FTX’s secret SOL holdings circulated.  Solana Price Risks Freefall The revelations come on the heels of the FTX estate’s previous sell-off of discounted SOL tokens to repay creditors affected by the exchange’s collapse. Just two months ago, Bitcoinist reported that the estate offloaded a $2.6 billion trove of SOL at around $102 per token. Venture capital firms like Pantera Capital and Figure Markets scooped up large portions of this discounted SOL allocation. It is worth noting that these tokens remain subject to a multi-year vesting period, limiting their immediate impact on Solana’s market dynamics. On the other hand, the alleged hidden FTX stash, if true, could overshadow the impact of these sales and pose a formidable challenge to the Solana price in the near term.  Related Reading: Bitcoin Down But Not Out: BTC To $700,000 Highly Probable Says Analyst With the potential for over $7 billion in Solana tokens to eventually hit the market, the cryptocurrency’s price may face intense selling pressure that could undermine its bullish prospects.  Still, it is imperative to note that these are only rumors and have not been confirmed by the exchange’s bankruptcy state, and that no further information has been released on the matter, including whether the state overseeing the exchange’s repayment operations plans to sell these tokens to repay creditors, if true. Potential $140s Plunge In terms of immediate price action, crypto analyst Pratty Crypto has highlighted several technical factors that could signal further downside continuation for the cryptocurrency in the coming days.  Pratty Crypto contends that Solana is facing a “lot of confluence” that points to a potential move towards the $140 zone. This includes Solana trading at a discount to the previous quarter’s mid-range, testing a key quarterly open level, and retracing 62% of its recent price run-up. In addition, Pratty Crypto warns that the deeper Solana’s price goes into the $130-$150 order block, the less likely it is to hold, potentially leading to more substantial losses.  Featured image from DALL-E, chart from TradingView.com

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Robinhood Wallet has added support for Solana

Robinhood Wallet now supports Solana tokens, with the self-custody wallet available on iOS and Android. Solana price rose slightly after the news. The Robinhood Wallet, a self-custody wallet app available on iOS and Android, has added support for Solana (SOL). Robinhood announced the big news on August 27, providing a positive flip in Solana sentiment […]

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Whale doubles down on SOL as traders eye Bitcoin Dogs

Solana reclaimed the $160 level over the weekend to see SOL bulls reach the highest level since August 9. As a whale doubles down on SOL, what’s the outlook for Bitcoin Dogs? Bitcoin recovered from a slight setback to trade above $64,000 on August 25, with this coming as the market reacted to news of […]

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Solana Eyes Price Surge To $220: Breaking Through This Resistance Is The Key

Solana (SOL), currently positioned as the fifth largest cryptocurrency by market capitalization, is mirroring Bitcoin’s (BTC) recent pattern of recovery, exhibiting a positive trajectory over the past couple of weeks.  Friday’s recent price spike comes on the heels of positive macroeconomic developments from the US Federal Reserve (Fed), which have had a positive impact on the broader cryptocurrency market. 7% Weekly Uptick Amid Economic News In the last 24-hour window, SOL has surged by nearly 4%, showcasing a 7% uptick over the past week. This rebound comes after SOL plummeted to the $110 mark on August 5, marked by overall market turbulence triggered by adverse economic news impacting risk assets. Contrary to the negative economic backdrop previously witnessed, the recent scenario has taken a turn for the better following a noteworthy statement by Fed Chair Jerome Powell.  Related Reading: Bitcoin Price Breaches $62,000: Market Reacts To Powells Speech In a speech delivered earlier today, Powell hinted at the likelihood of an interest rate cut by the central bank in September. While specifics regarding the magnitude of this move were not explicitly disclosed, Powell emphasized the Fed’s readiness to adjust policies to safeguard the job market from further deterioration and to ensure a smooth economic transition. “The time has come for policy to adjust,” remarked Powell during the Kansas City Fed’s annual conference in Jackson Hole, Wyoming. He emphasized the clarity of the direction for policy adjustments, highlighting that the timing and scale of rate cuts would hinge on incoming data, evolving economic forecasts, and risk evaluations. Solana Price Projection The market response to Powell’s statements has been palpable, with Bitcoin surging to the $63,000 mark at the time of reporting. Additionally, Ethereum (ETH) has seen a 4.4% upsurge to reach the $2,730 level, a height not observed since the end of July. Related Reading: Cardano Investors React To 14% ADA Price Surge To $0.37 In addition, a recent observation from crypto analyst Ali Martinez suggests that Solana may be forming an Adam & Eve pattern, hinting at a potential surge towards $164 if SOL manages to breach this resistance level.  In the event of a successful breakthrough, a substantial 33% increase towards $220 could be on the horizon. Should this projection materialize, SOL’s price would fall just shy of its previous all-time high of $259 recorded during the 2021 bull run, which peaked in November of that year.  This expected spike would also put SOL well above its annual high of $210, which was reached five months ago. In the near term, however, the SOL price must first overcome the $151 resistance wall that has prevented the token from moving higher since August 11. Should the price break through this level, it would favorably position the token to potentially retest and consolidate above its next major resistance at the $161 zone.  Featured image from DALL-E, chart from TradingView.com

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Solana Dump Far From Over? Whales Continue To Dump SOL

The Solana dump looks far from over as whales continue offloading their SOL holdings during this market downtrend. The recent shakeup in the crypto space might have also contributed to these whales bearish sentiment towards Solana.  Crypto Whale Offloads $16 Million Worth Of Solana In an X (formerly Twitter) post, the on-chain analytics platform Lookonchain [...]

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