Solana Alert; $35M Bought This Week; Extreme Bullish Charts Forge DTX Exchange & Dogecoin as Rivals
The post Solana Alert; $35M Bought This Week; Extreme Bullish Charts Forge DTX Exchange & Dogecoin as Rivals appeared on BitcoinEthereumNews.com.
Last week, Solana (SOL) whales bought over 200K SOL worth $35 million from the different decentralized exchanges. Despite buying from whales, Solana has declined nearly 10% in the last three days. Meanwhile, DTX Exchange (DTX) and Dogecoin (DOGE) have emerged as the leader of the bull market, with bullish price action on the charts. Also, DTX and DOGE are considered the rivals of Solana (SOL), with expectations that DTX will potentially outperform SOL in the future. Solana (SOL) Breaks Down Of The Rising Channel Pattern Solana (SOL) has again faced difficulties with the declining trendline resistance. Last Tuesday, the SOL price reached a high of $183.30 and faced rejection from the trendline, where it has been rejected twice before. Afterward, Solana (SOL) price broke down from the rising channel pattern, showing the bear’s strength in the price. Solana (SOL) is currently trading at $167 with a 20-period moving average working as a support. In further downside, the 50-period moving average is a major support with $160 as the demand zone. Solana (SOL) must break above the declining resistance to make an all-time high. Dogecoin (DOGE) Retraces To 0.318 Fibonnaci Retracements After a 60% rally, Dogecoin (DOGE) has taken a pause, retracing back to the first Fibonacci retracement level. DOGE has pulled back 13% from the high in the last three days. 10-DMA is the immediate support for Dogecoin (DOGE), and the weekly high is the immediate resistance level. According to technical analysis, if the Dogecoin (DOGE) price holds steady above $0.20, it could spark a major price surge. DOGE’s Market Value to Realized Value (MVRV) Ratio, which measures the average profit of all holders based on the last price each token traded, has reached a five-month high of 77%. Currently, DOGE is trading around $0.15, and investors and enthusiasts are…
Filed under: News - @ November 5, 2024 1:18 am