What’s Happening? Big Crypto Whales Exit Solana (SOL) and Ethereum (ETH) for Small Cap Token Priced Under $0.05
The post What’s Happening? Big Crypto Whales Exit Solana (SOL) and Ethereum (ETH) for Small Cap Token Priced Under $0.05 appeared on BitcoinEthereumNews.com.
A notable trend is taking place in the crypto market as large investors, or “crypto whales,” start to exit major cryptocurrencies like Solana (SOL) and Ethereum (ETH). This exodus comes at a time when Solana and Ethereum are both facing bearish outlooks, with analysts predicting significant price declines. The move by these whales is not a reaction to market volatility alone but a pivot towards a smaller, undervalued token, MoonTaurus (MNTR), which is currently priced at just $0.01. The Decline of Solana and Ethereum Solana, which has been riding a wave of optimism with some expecting its price to surpass $200, is now under serious pressure. According to crypto analyst Alan Santana, Solana might face a substantial crash, with its price potentially falling below $60. His analysis is based on a pattern seen last year, when a sharp increase followed a surge in trading volume in Solana’s price. However, this time, the surge in volume is on the selling side, signaling that Solana’s recent gains could be reversed. The situation appears dire as the current selling volume is the highest in over a year, and Santana’s prediction indicates that Solana might drop by more than 50%. Ethereum is also not spared. The cryptocurrency recently failed to maintain its bullish momentum and slipped below a critical support level. As a result, its price is now hovering around $2,622, reflecting a 4% drop. Technical indicators suggest that Ethereum could fall further, with some analysts projecting a drop to $1,652. The bearish sentiment is reinforced by a widening of Bollinger Bands, which signals increased volatility, and a decline in market confidence as shown by the Chaikin Money Flow (CMF) indicator. Why MoonTaurus is Attracting Whales As Solana and Ethereum struggle, the spotlight shifts to MoonTaurus (MNTR), a meme coin quickly establishing strong presence…
Filed under: News - @ August 19, 2024 5:24 pm