The return of Keith Gill (also known as “Roaring Kitty”), the man who largely contributed to the GameStop short squeeze in 2021, and the Dogecoin run, has led to talks about another imminent meme coin mania. If so, some meme coins are worth watching, as they could be the biggest beneficiaries of such development. Pepe
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Is Solana Preparing For Liftoff Or Meltdown? Analysts Forecast SOL’s Future
After the recent market pump, Solana (SOL) recovered an important support zone. As a result, analysts have debated whether the altcoin is poised for a liftoff to a new all-time high (ATH) or about to face a meltdown. Related Reading: Solana (SOL) Eyes a Strong Comeback: Will the Rally Ignite a Surge? Analysts Fear SOL’s Top Is In After recovering the $160 support zone over a week ago, Solana reached heights not seen since the beginning of April. SOL neared the $190 resistance level but failed to surpass it. Instead, the token’s price hovered between the $180 and $170 mark before returning near the $160 support zone over the weekend. Despite underperforming compared to Bitcoin (BTC) and Ethereum (ETH), the token reached a new ATH in a key metric during this cycle. In March, Solana’s market capitalization surpassed its previous ATH, reaching a market cap of $93 billion. Last week’s pump saw SOL surge by over 56% from its price during the May 1 retrace, propelling its market cap above its 2021 ATH to levels resembling March’s ATH. Nonetheless, some crypto analysts see the possibility of a meltdown ahead for Solana. Crypto analyst Bluntz posted a video looking at SOL’s macro chart. Per the post, the analyst considers that “SOL is done, SOL is exhausted, and it’s probably time for ETH to catch up, which will probably be the last leg of the bull market.” The analyst considers the macro chart to display some concerning signs that suggest the token has “probably topped.” Per Bluntz’s chart, SOL had a five-way climb to its cycle high of $210 in March. Despite not making the price ATH due to inflation, the analysts highlighted Solana’s market cap ATH as a key factor. Moreover, the crypto trader pointed out a five-way decline since March’s highs, followed by a three-way move up. To the analyst, this suggests that Solana is “exhausted” as it’s starting to struggle. According to Bluntz, there’s a high chance that the highlighted performance will result in a “macro lower high.” Additionally, he forecasted SOL’s price to retrace below the $100 mark. Is Solana Poised For A Liftoff Or A Meltdown? Similarly, pseudonym analyst Credible issued a warning regarding SOL’s future. To the analyst, “coins like $SOL are just in larger distribution structures now.” However, Credible considers that BTC’s strength will relieve SOL as it initially “drags the whole market up.” The analyst agreed with Bluntz’s prediction, stating that it is “ultimately where we are headed,” but considers there’s a good chance Solana sees highs above March’s mark “before the real meltdown.” Nonetheless, some crypto analysts disagree with the gloomy forecast. DocXBT asserted he has “seen a lot of terrible Solana takes lately.” The analyst believes the token is “holding daily trends” and displays positive support and resistance levels. Moreover, he considers that investors should “stop overthinking it” unless “we lose daily trends” as the performance looks “supper clean.” Related Reading: Keeping Up With The Memecoins: Caitlyn Jenner’s New Token Surges 50,000% Amid Controversy On a similar note, CryptoJelle pointed out that SOL is “forming the post-breakout higher low.” To the analyst, Solana is following the same behavior it did during the February-March leg. Ultimately, Jelle suggests that the token could have found its bottom, and it’s currently getting ready for liftoff to a new ATH. The analyst forecasted a $600 price prediction for SOL this cycle. Featured Image from Unsplash.com, Chart from TradingView.com
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BDAG Outperforms Cardano with Pioneering Blockchain Technology
BlockDAG’s Keynote Video Ignites Excitement: Cardano and PEPE Prices React to Potential 30,000x ROI While the Cardano price is climbing up from $0.4620, it still lags behind industry giants like Bitcoin and Ethereum. Concurrently, PEPE has reached a new all-time high, prompting a wave of profit-taking. Amid these market shifts,
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BlockDAG’s Innovative Dashboard Catapults Its Presale to $34.7M, Stealing the Spotlight from Uniswap and Polygon
In the hustle and bustle of digital currencies, while Uniswap and Polygon continue to make waves in the crypto market with optimistic forecasts for UNI and a surge in MATIC transactions, BlockDAG is setting a new standard with its latest dashboard enhancements. This layer-1 blockchain pioneer has not only pulled in an astonishing $34.7 million The post BlockDAG’s Innovative Dashboard Catapults Its Presale to $34.7M, Stealing the Spotlight from Uniswap and Polygon appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
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Ripio CEO: Brazilian Companies Are Paying Chinese Suppliers With Cryptocurrency
Sebastian Serrano, CEO of Ripio, one of the largest exchanges in Latam, stated that Brazilian companies were already harnessing cryptocurrency to pay their Chinese suppliers. In an interview, Serrano asserted that Latam countries harnessed crypto in different ways and that Argentine companies are using cryptocurrency to protect from crippling inflation numbers. Ripio CEO Sebastian Serrano:
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Can Ethereum Price Maintain This Support and Spark a New Increase?
Ethereum price started a downside correction below the $3,880 support. ETH is now testing the $3,760 support and might aim for a fresh increase. Ethereum started another downside correction below the $3,880 zone. The price is trading above $3,750 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,880 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase unless there is a move below the $3,760 support. Ethereum Price Dips To Support Ethereum price failed to test the $4,000 resistance zone and started a downside correction, like Bitcoin. ETH dipped below the $3,920 and $3,880 support levels. There was also a spike below the 50% Fib retracement level of the upward move from the $3,631 swing low to the $3,972 high. Finally, the price dipped below the $3,800 level. However, the bulls were active near the $3,760 support zone. The price stayed above the 61.8% Fib retracement level of the upward move from the $3,631 swing low to the $3,972 high. Ethereum price is now trading above $3,750 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,880 level. There is also a connecting bearish trend line forming with resistance at $3,880 on the hourly chart of ETH/USD. The first major resistance is near the $3,920 level. An upside break above the $3,920 resistance might send the price higher. The next key resistance sits at $3,950, above which the price might gain traction and rise toward the $4,000 level. If there is a clear move above the $4,000 level, the price might rise and test the $4,080 resistance. Any more gains could send Ether toward the $4,150 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,880 resistance, it could continue to move down. Initial support on the downside is near the $3,800 level. The next major support is near the $3,760 zone. A clear move below the $3,760 support might push the price toward $3,720. Any more losses might send the price toward the $3,630 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,760 Major Resistance Level – $3,880
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Ethereum Futures Open Interest Hits All-Time High Following ETF Approvals
Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of $3,980 per coin, which is approximately 18.4% below its all-time high. Amid fluctuating prices, ethereum futures markets have achieved a record high in open interest.
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