Despite Toncoin’s Price Surge This Year, Solana and Lunex Network Are Set to Lead Altcoin Season.
The post Despite Toncoin’s Price Surge This Year, Solana and Lunex Network Are Set to Lead Altcoin Season. appeared on BitcoinEthereumNews.com.
Solana’s rapid transaction speeds and Lunex Network’s privacy-focused DeFi platform are capturing investor attention. Lunex Network is now a top contender with its unique approach to multi-chain trading and deflationary token model. Despite Toncoin’s impressive price surge this year, the market is turning to Solana and Lunex Network (LNEX) as the frontrunners for the upcoming altcoin season. Toncoin Stabilizes After Recent Declines Toncoin has traded between $4.55 and $5.43, displaying a little stability following a 4.69% decline during the last week and a 14.81% drop over the past month. The RSI stands at 41.89, near the oversold zone, indicating that Toncoin’s selling pressure might be decreasing. Toncoin price is around the $4.80 support level and a bullish reversal is possible. In case buyers get stronger, Toncoin might reach the nearest resistance level at $5.87, 17% above its current value. A breakout above this resistance might push the price further to $6.75, offering additional gains. As the market anticipates an altcoin season and a broader crypto bull run, Toncoin’s current position could lead to growth in the near term. Canary Capital’s Solana ETF Sparks New Hope Solana is unlikely to hit the $300 mark in the coming days. While the altcoin has grown by 332.3% over the past year, it faced a 5% decline this week. Technical indicators now place Solana in the “Sell” category. However, Solana holders must remain optimistic despite this setback. On October 30th, America-based Canary Capital filed an S-1 form with the SEC to launch a Solana ETF. This has sparked hopes that far more institutional and retail adoption would drive Solana’s market cap above its current $79 billion. Solana is listed for $172.71 with a 24-hour trading volume of $2.93 billion, as of press time. Several experts believe Solana’s price might rise—although this depends on a…
Filed under: News - @ November 2, 2024 9:05 pm