Solana (SOL) price is down 6% in the last 24 hours, catching the attention of investors. Technical indicators like the Relative Strength Index (RSI) suggest the cryptocurrency may be approaching oversold territory, indicating a possible reversal.

Increased activity on Solana’s major application, PumpFun, hints at renewed user engagement that could positively influence SOL’s performance. These developments set the stage for potential changes in SOL’s price trajectory in the near future.

SOL Is Approaching The Oversold Stage

SOL currently exhibits a RSI of approximately 34.82, a notable decrease from around 70 just fifteen days prior. This substantial drop indicates a significant shift in market sentiment, moving from a bullish phase — where buying pressure was dominant — to a more bearish outlook characterized by increased selling activity. The RSI is a technical indicator used to gauge the momentum and speed of price movements.

Oscillating between values of 0 and 100, the RSI helps identify overbought and oversold conditions in the market. Traditionally, an RSI reading above 70 suggests that an asset is overbought and may be due for a price correction, while a reading below 30 indicates it is oversold and could be primed for a rebound.

Read more: Solana vs. Ethereum: An Ultimate Comparison

With SOL’s RSI nearing the oversold threshold of 30, it signals that the coin might be reaching a point where the selling pressure is waning, and buyers could start stepping in.

Such a scenario often precedes a trend reversal, where the asset’s price may begin to climb as market participants perceive it as undervalued. Therefore, according to its RSI metric, Solana price could be gearing up for a rebound, and an emerging uptrend might be on the horizon as investors look to capitalize on the lower price point.

Can New Coins Pump Solana Price?

Solana’s biggest application in the last few months, PumpFun, could serve as a strong proxy for the overall health and activity on the Solana blockchain. Recent trends on PumpFun indicate that the memecoin mania within the SOL ecosystem might be making a comeback, which could positively influence SOL’s price.

On August 13, the number of unique tokens launched on PumpFun reached an all-time high of 20,465 but then experienced a dramatic decline, dropping to just 4,629 by September 14.

Historically, significant surges in the number of tokens launched on PumpFun have been followed by substantial gains in SOL price. Notably, the daily number of new PumpFun tokens began climbing again at the end of September, reaching at least 13,000 per day between September 26 and October 1.

This resurgence could indicate that the Solana chain is attracting users once more, potentially positively impacting SOL’s price, as increased activity often correlates with heightened investor interest and demand.

SOL Price Prediction: Back to $162 Soon?

Solana is exhibiting signs of a potential trend shift. Its short-term Exponential Moving Average (EMA) lines are nearing a crossover below the long-term EMAs. That formation is known as a “death cross.”

This pattern in technical analysis suggests possible bearish momentum and potential price declines in the near future. EMAs are indicators that assign more weight to recent prices, helping traders identify market trends.

If this downtrend materializes, SOL’s price could test support levels at $133 or even $110. However, if the Relative Strength Index (RSI) reaches the oversold stage (below 30) and PumpFun continues to attract new coins, this negative trend could reverse.

Read more: 13 Best Solana (SOL) Wallets To Consider in October 2024

Notably, the number of new PumpFun tokens launched daily has been climbing again since late September. This resurgence indicates renewed user interest, which could positively impact SOL’s price. In this scenario, SOL could retest the resistance level at $162, as it did at the end of August. That would mark a potential 13% gain from current prices.

The cryptocurrency market is anything but quiet, with constant developments keeping everyone on their toes. Recently, exciting news has emerged for major players like Ripple (XRP), Ethereum (ETH), and a new player, Rexas Finance (RXS). Some experts believe Ripple is on the verge of a potential ETF launch, while Ethereum continues its rollercoaster ride, eyeing the $4,100 mark. Meanwhile, Rexas Finance is stealing the show with its potential to disrupt traditional real estate and real-world asset (RWA) investments. Let’s dive into the opportunities and challenges these three projects face.

Is there a possibility that ripple (XRP) will get an ETF?

And so the whispers begin, and the Ripple community is restless thinking: Will Ripple be next to get an ETF? With the imminent launch of the first US XRP trust by Grayscale, it is looking more and more likely.

An ETF for Ripple would be an important development, providing the opportunity to get exposure to XRP for investors if they don’t want to buy or keep the token in their wallets. This could bring in more liquidity, increased trading activity, and a rise in the price of Ripple. Though as of now an ETF is by no means guaranteed, Grayscale’s step indicates that the time when XRP is seen being launched on traditional exchanges as a part of an ETF might not be very far off. 

Crazy days ahead for Ethereum (ETH)?

Ethereum (ETH) has witnessed both the bull and the bears, but the question that still lingers is: Is that moment where ETH breaches the $4,100 price level finally going to happen?

For the third time, investors have tried to breach this level only to be shut down once more making investors question if this crucial resistance barrier is one that ETH has to power through. Presently trading at $2,639, Ethereum has had a turbulent as well as exhilarating trip. Should it clear the $4,100 resistance level, the floodgates may burst wide open for profits; however, every rejection risks turning sentiment bearish instead. At the same time, Ethereum still stands out as one of the most attractive assets in the crypto world and many say that it is just a matter of time before this ETH psychological barrier is overcome. 

Rexas Finance (RXS) preparing to revolutionize real estate investments

Finally we come to Rexas Finance (RXS), which has already gained traction even at its presale stage and could be on track to change the way we view investments in RWA. Consider buying a slice of a swanky apartment in Paris or a vacation home on the Caribbean Sea without ever leaving your house. That is what Rexas Finance is providing—a platform to invest in real estate all over the globe, be it complete real estate or only a portion which depends on how much one wishes to invest.

In the presale stage 3, Rexas Finance is currently valued at $0.050 having increased by 66.7% from $0.030, the price in stage 1. As the project goes to the next listing price of $0.20, the earliest investors are already looking at an opportunity to make a 300% growth by the time the project is finally launched.

What makes Rexas Finance unique is the fact that its concept of fractional ownership of real-world assets such as real estate, commodities, and even art, lets investors own and trade slices of these asset classes in the form of the token with the use of blockchain technology. Anyone can use Rexas Finance to invest in high-culture housing activities without quitting his or her job. This democratizes real estate investment since all people who wish to take risks on the economy can do so even when they don’t have enough money to purchase whole buildings.

The expansion of Rexas Finance is not narrative for narrating’s sake; it’s firmly grounded in utility. This project seeks to open up the $280 trillion global real estate market by making this traditionally difficult-to-invest asset class liquid and accessible to the average person. 

Conclusion: There is a bright future ahead

Be it Ripple (XRP) making waves with the bullish outlook of an ETF coming, Ethereum (ETH) being quite volatile, or Rexas Finance (RXS) changing the perspective of how we invest in tangible assets – the prospects of crypto are exhilarating. Rexas Finance however presents something completely new – it enables everybody in the world to invest in properties irrespective of their location while the battles of Ripple and Ethereum continue in the high-stakes market.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

Grayscale Investments conducted research spearheaded by The Harris Poll. It determined that 71% of expected voters in the US support that political leaders should embrace crypto and AI.

The September study explored perspectives on crypto, artificial intelligence, investing, and how the future of the financial system, among other factors, could shape voting considerations in the 2024 US Election.

American Voters’ Feelings Skewed Towards Crypto

With the US election just a month away, 56% of “likely voters” now favor candidates who are knowledgeable about crypto over those who are not. This marks a 3% increase since May and an 8% rise since December. Voters are increasingly viewing emerging technologies like crypto and AI as essential to building future financial success.

Notably, two out of every five voters (40%) consider candidates’ positions on Bitcoin and other crypto assets when making their decision. This change in sentiment is notable compared to December 2023, when only 34% of voters expressed the same interest.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Further, the study established that more Americans own crypto in the future now than they did in 2023. This is more pronounced among the older generation. It ascribes the shift to the spot Bitcoin ETFs (exchange-traded funds), which offer intuitional investors BTC access.

“Nearly a third (30%) of voters said ETF approval of Bitcoin made them more interested in investing in Bitcoin or other crypto assets broadly. Also, nearly half of voters (46%) indicated that they expect some of their investment portfolio to include crypto in the future — a notable increase since 2023 (40%),” an excerpt in the research indicated.

Another interesting finding in the research is that crypto is progressively becoming a nonpartisan issue in the US. Specifically, there is an almost even split favorwise between the Republican and Democratic parties. This is despite crypto investors’ increasingly diverse voting demographics, such that:

• 63% of Hispanic and 68% of Black voters show interest in investing in Bitcoin, compared to 35% of White voters.
• Nearly a third (30%) of Hispanic and Black (31%) voters currently own Bitcoin, compared to only 13% of White voters.

These findings echo recent Consensys research, which determined that half of US voters support pro-crypto policies. According to the survey, 85% of crypto owners view crypto as a key voting issue. Meanwhile, 92% are likely to vote.

Republicans currently hold a slight edge in being perceived as more crypto-friendly, largely due to Donald Trump’s ongoing promotion of digital assets. Recently, Trump made headlines by purchasing burgers with Bitcoin and launching a DeFi venture, though the latter received a tepid response. He has also vowed to fire Gary Gensler, a top critic of the crypto industry, if elected.

Read more: How Can Blockchain Be Used for Voting in 2024?

Democrats, meanwhile, are seeing growing support from cross-party voters, with increasing warmth toward crypto. Kamala Harris, the party’s candidate, has begun accepting crypto donations and has committed to expanding the use of both crypto and AI in her campaign for the presidency.

The report highlights the growing significance of crypto in U.S. politics. According to Polymarket data, Kamala Harris currently holds a narrow lead, polling at 50% compared to Trump’s 49%, with just 34 days left until the election.