Solana Breakout Looms – Will SOL Retake $100 Before Start Of February?

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29 Jan 2024

Solana, the high-performance blockchain darling, spent today grappling with the $100 mark. Having rallied to within spitting distance earlier, the native token (SOL) retreated slightly but held onto most recent gains, hovering primarily above $97. This price point has emerged as a key battleground, analysts say, with significant selling pressure poised at the century mark.

Solana’s 2023 Surge And Challenges

2023 was a stellar year for Solana, a stark contrast to its previous rollercoaster ride. Fuelled by factors including network upgrades and booming DeFi projects, SOL soared to a record high near $125 in December, clocking in a staggering 1,100% gain since January.

Despite today’s hesitation, Solana’s performance continues to draw admirers.
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“I see it as a potentially even better protocol than Ethereum for major crypto uses,” declared Joe DiPasquale, CEO of BitBull Capital, praising its speed, low fees, and increasing popularity.

SOL 24-hour and seven-day price action. Source: Coingecko

This sentiment echoes widespread confidence in Solana’s technical prowess. Hosam Mahmoud, a research analyst at CCData, highlights the growing number of active wallets and record transaction volumes on the network as key drivers of investor faith. “These metrics, along with consistent advancements, are reinforcing bullish sentiment,” he explains.
However, the climb to $100 hasn’t been smooth. Armando Aguilar, an independent analyst, points to persistent selling pressure around this level, noting its “ongoing” rejection by the market. This raises questions about whether Solana can break through resistance and sustain its momentum.
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Solana currently trading at $97.29 on the daily chart: TradingView.com

Crypto Uncertainties: Bitcoin Consolidation, Solana Strength

The expansive realm of the cryptocurrency market is not immune to uncertainties, and its dynamics are often shaped by the performance of key players. Bitcoin, regarded as the bellwether of the digital currency space, has recently displayed indications of consolidation following a noteworthy rally.
The future trajectory of the top coin is of particular significance, as its movements have the potential to exert a substantial impact on the overall market sentiment, including that of Solana.

Despite the near-term hurdles, Solana’s fundamentals remain strong as it stands at a crossroads. While the $100 barrier presents a challenge, the underlying strengths of its network and the bullish whispers from analysts paint a promising picture.

In the face of extreme volatility of digital currency markets, some commentators have voiced their optimism for the Solana network and its native cryptocurrency.
Portfolio Manager Brett Munster of Blockforce Capital is one of these market watchers. He made notice of Solana’s strong momentum as the year winds down.
Whether Solana can conquer its resistance and continue its ascent remains to be seen, but one thing’s clear: the high-performance blockchain is far from fading into the background.
Featured image from Freepik, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Able To Outshine Solana (SOL) and Ethereum (ETH)?

The crypto community is currently in a frenzy over Pullix (PLX). It has sold over 80M tokens and raised nearly $5M during its ongoing presale. Some analysts have even pegged this Stage 6 presale star as the next 100x altcoin in 2024. But can this newcomer outshine established players like Solana (SOL) and Ethereum (ETH)? Today, we will find out.

Pullix (PLX): One of the Best Cryptos To Buy

With its ongoing presale, Pullix (PLX) has been making waves in the DeFi market. It recently announced that over 13,000 individuals have signed up for it, and 4000 people are part of its community. Global investors have faith and confidence in Pullix’s long-term growth potential.
Pullix aims to change how people trade online by combining the best parts of CEX and DEX. This makes it different from other platforms. With a platform like Binance, you can only trade cryptocurrencies. On Pullix, you can trade all asset classes (Forex, gold, cryptos, etc.) on one account.
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Behind the trading services is the PLX native token. Holding this token reduces trading fees and access to specific assets. The remarkable thing about this altcoin is its “Trade-to-Earn” revenue-sharing model. To clarify, just staking PLX will earn users a portion of the daily revenue made by Pullix.
Each PLX token is now valued at $0.10, a 100% ROI if you bought it early. Its long-term growth is excellent thanks to its ties to the OTC derivatives market, which BIS valued at $20.7T in 2022. Market analysts predict that once PLX hits major exchanges in Q1 2024, its value will spike by 100x.

Solana (SOL) Introduces Token Extensions

Meanwhile, Solana (SOL) has introduced token extensions. This is a groundbreaking implementation of complicated pre-built token functionality on the blockchain. Developers can now build their tokens with the extension matching unique needs.
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This exciting Solana news raised interest in this altcoin. On the price charts, SOL has fluctuated between $98.23 and $87.10 in the past week alone. During that time, its market cap has also moved between $42.52B and $37.27B. With the bullish Solana crypto sentiment, market analysts forecast a potential pump to $101.37 before February 2024 ends.

Michaël Van De Poppe With a Bullish Ethereum Price Prediction

Crypto analyst Michaël Van De Poppe recently predicted a bullish Ethereum (ETH) price. According to his new tweet, Ethereum’s momentum may come in the next few weeks. This rally may be due to the Ethereum ETF hype and Bitcoin’s bottoming out.
The Ethereum price has fluctuated widely this past week. On both ends, it moved from $2,504 to $2,204. The same goes for market cap, which jumped to $301B just to dip to $264B later. Market analysts foresee the Ethereum crypto soaring to $2,358 within Q1 of 2024.

Will Pullix Outpace Solana and Ethereum?

At just $20M, Pullix’s early-stage market cap is much smaller than Solana and Ethereum’s. With such a head start, Pullix could surge ahead of them and reach unimaginable heights without needing as much cash. A low market cap plus groundbreaking features make Pullix one of the top altcoins to watch.
For more information regarding Pullix’s presale see links below:
Visit Pullix
Join The Pullix Communities

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Investors from Toncoin (TON) and Litecoin (LTC) Seek Refuge in the New Kelexo (KLXO) Presale

In a significant shift within the cryptocurrency landscape, investors from established coins like Toncoin (TON) and Litecoin (LTC) are increasingly seeking refuge in the new Kelexo (KLXO) presale. This trend highlights a strategic pivot towards newer digital currencies, particularly in times of market volatility or uncertainty. In this article we’ll explore the reasons behind this shift, examining what makes Kelexo (KLXO) an attractive haven for these investors and the potential impact this trend could have on the wider crypto market.

Toncoin (TON) Investors Looking for New Opportunities

Investors in Toncoin (TON), a cryptocurrency known for its high-speed transactions and scalability, are starting to look beyond its borders for investment opportunities. Despite Toncoin (TON)’s technological prowess, its investors are seeking out newer projects that offer a blend of innovation, security and potential for significant returns. This shift is driven by a desire to diversify portfolios and capitalize on emerging trends in the crypto market. Additionally, Toncoin (TON) is currently trading at approximately $2.21, which is a significant decrease from its all-time high of $5.84, indicating a decline of about 63.79%.

Litecoin (LTC) Holders Turn to Kelexo (KLXO)

Litecoin (LTC), created by Charlie Lee, was designed as a “lite” version of Bitcoin, with a focus on faster transactions and lower costs. Often seen as a reliable digital currency, Litecoin (LTC) has recently faced challenges in keeping up with the fast-evolving crypto landscape. As a result, Litecoin (LTC) investors are exploring other cryptocurrencies that promise more dynamic growth and innovation. Litecoin (LTC) is currently trading at approximately $66.81, a notable decrease from its all-time high of around $420. This represents a decline of approximately 84.1% from its peak value. Kelexo (KLXO), with its unique approach to decentralized finance and higher projected value has emerged as a particularly attractive option for these investors.
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Kelexo (KLXO): A New Safe Haven For Investors

The new Kelexo (KLXO) presale has quickly become a refuge for investors from both Toncoin (TON) and Litecoin (LTC). Kelexo (KLXO)’s platform, focusing on decentralized peer-to-peer lending, offers an efficient and secure alternative to traditional financial systems. Its innovative approach and potential to disrupt the lending market have made it a magnet for investors seeking stability and growth. With features like a successful audit, lifetime-locked liquidity, and team tokens locked for an extended period of 500 days, Kelexo (KLXO) stands out as a promising and secure investment in the crypto space.
Kelexo (KLXO) is predicted by big names in the crypto investment industry to become a blue-chip cryptocurrency with an expected increment of 40x its current value. Wait till you hear how much it is trading for currently – only $0.022 per token! Why? Because it’s still in the first stage of the presale and experts predict a huge price hike as early as next month. So, hurry up and quickly purchase as many Kelexo (KLXO) tokens as you can before it’s too late to get the full advantage of the price hike.
Find out more about the Kelexo (KLXO) presale by visiting the website here
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Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.