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Solana Fails $200 Breach, Triggers Sharp Breakdown in Price

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Solana (SOL) has recently faced a challenging period, moving within a bearish pattern that hinted at a potential drawdown. The price has begun to reflect these concerns, with the broader market failing to provide enough support for a recovery. 

As Solana struggles to maintain upward momentum, its price has experienced a significant decline, leading to further uncertainty in the market.  

Solana Is Losing Investor Interest

Solana’s network activity has slowed considerably, with active addresses falling to a five-month low. This decline in transaction activity reflects waning investor confidence, as holders seem to pull back from engaging with the network.

The lack of significant growth or recovery in price action over the past two weeks has likely caused many investors to adopt a more cautious stance.  

As the active addresses continue to drop, Solana holders are becoming increasingly skeptical about the token’s near-term prospects. Without meaningful growth or a clear bullish signal, these investors may continue to hold back, potentially exacerbating the downward pressure on SOL’s price and making a recovery more difficult.  

Solana Active Addresses
Solana Active Addresses. Source: Glassnode

Key technical indicators, such as the Relative Strength Index (RSI), indicate that Solana’s broader macro momentum also remains under pressure.

Currently, at a monthly low of 40.66, the RSI suggests that bearish momentum is dominating Solana’s price action. When the RSI is below 50, it typically indicates that sellers are in control, which could prolong the downward trend.  

With the broader market cues remaining uncertain, the RSI points to continued weakness for Solana. Unless there is a significant shift in sentiment or a favorable market catalyst, it seems that SOL may continue to face downward pressure in the near term, potentially pushing the price lower.  

Solana RSI
Solana RSI. Source: TradingView

SOL Price Prediction: Recovering Losses

Solana’s price has dropped by 7% over the last 24 hours, trading at $177 and holding above the support level of $175. However, the altcoin recently broke below the ascending wedge pattern, suggesting that the price could continue its decline. If the current downtrend persists, Solana may struggle to hold above critical support levels.  

This bearish pattern projects a potential further drawdown, but the price may not dip below $161 in the immediate term. However, if Solana loses the support of $161, it could face a deeper decline, potentially testing levels around $156 or lower. Such a scenario would further validate the bearish outlook and delay any recovery attempts.  

Solana Price Analysis.
Solana Price Analysis. Source: TradingView

On the other hand, if Solana manages to bounce off the $183 support, the price could rise back toward $201, provided broader market conditions improve. Breaching the $201 level is key for invalidating the current bearish thesis and would signal that Solana has regained upward momentum, potentially paving the way for a stronger recovery.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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FTX Survey Shows Crypto ReInvestment and Possible Bias

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According to a new survey of FTX creditors, 79% plan to reinvest their payments into crypto. More than half of them plan to buy Solana, and meme coins and AI tokens are also popular.

However, a deeper look into the survey’s methodology suggests a strong bias toward Solana enthusiasts. While some participants may have a genuine interest in other assets, their preferences might not reflect the broader sentiment of all FTX creditors.

FTX Creditors are Likely to Reinvest Funds into Crypto

Since the FTX collapse in 2022, the residual fallout has left deep marks on the crypto space. Earlier this month, liquidators announced that creditors would start getting reimbursed on February 18. Although this caused bullish hype beforehand, market hopes sank when investors began acting skittishly.

However, a new survey claims that most FTX creditors will reinvest in crypto:

“79% of FTX creditors plan to reinvest their repayments into cryptocurrencies, with an average of 29% of their repayment funds allocated for this purpose. 62% intend to buy Solana. One-third of FTX creditors plan to allocate their repayments toward meme coins, and 31% of creditors are prioritizing AI-related cryptocurrencies,” its results claim.

On the surface, this FTX survey looks very bullish, especially for Solana. When the reimbursements began, the exchange’s creditors showed a strong propensity to secure their funds immediately.

However, if these results are accurate, it would be a shot in the arm for several assets. Solana, in particular, has suffered a difficult month and could greatly benefit from fresh investors.

Solana Monthly Price Performance. Source: BeInCrypto

Unfortunately, however, this bullish vision may not materialize. In its methodology, the FTX survey acknowledged that “there is a possibility of biases.”

Apparently, creditors were only eligible if at least 10% of their portfolio consisted of Solana or if they held $100 worth of SOL for over a year. In other words, it seems obvious that eligible participants would be interested in Solana.

Even if the FTX survey is biased in this regard, its data may still be useful in other ways. For example, meme coins have had a tough time in February, and the AI crypto market isn’t looking much better.

If some of these Solana enthusiasts spend their reimbursements on these tokens, it could be a lifeline. However, it’s not a good barometer for the broad pool of FTX creditors.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top AI Coins From This Week: IP, CLANKER, $DOGEAI

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Story (IP), CLANKER, and DOGEAI are the top-performing AI coins of the third week of February 2025. Story has surged 150% in the last seven days, becoming the 7th largest AI cryptocurrency with a market cap of $1.1 billion.

CLANKER is up 130%, gaining traction as a launchpad on the Base chain, while DOGEAI has risen nearly 70% by leveraging the Dogecoin and AI narrative.

Story (IP)

Story has emerged as the clear winner among AI coins and altcoins in general, soaring 150% in the last seven days. Its market cap has reached $1.1 billion, making it the 7th largest AI cryptocurrency, surpassing VIRTUAL and GRASS.

Story operates as a Layer 1 blockchain designed to transform intellectual property into a programmable store of value. The chain aims to enable creators to tokenize their intellectual property, allowing it to be bought, sold, and traded.

Price Analysis for IP.
Price Analysis for IP. Source: TradingView.

If Story (IP) continues its bullish momentum, the token could soon test resistance levels around $6 or even $7. However, after such a massive surge, a pullback is also possible as investors take profits.

If a downtrend emerges, Story has key support at $3.65, and losing this level could lead to a drop toward $2.12 or even $1.36. These levels are crucial in determining whether the current rally is sustainable or just a temporary spike.

tokenbot (CLANKER)

CLANKER has surged 130% in the last seven days, bringing its market cap to $74 million. It also surged in the last 24 hours after Coinbase added it to its listing roadmap. Similar to Pumpfun, CLANKER serves as a launchpad for new coins but is built on the Base chain.

In the last few days, CLANKER has seen a significant boost in activity, with its daily volume skyrocketing from $2.6 million on February 17 to $47 million on February 19.

Additionally, daily traders jumped from 1,200 on February 16 to 5,600 on February 19. However, these numbers are still far from the platform’s peak of 23,400 daily traders recorded on November 26, 2024.

Price Analysis for CLANKER.
Price Analysis for CLANKER. Source: TradingView.

CLANKER’s EMA lines indicate a strong uptrend. If this momentum continues, it could test the resistance at $81.49 soon. Breaking this level could push the price towards $90 or even $105, its highest level since early 2025.

Conversely, if the uptrend loses steam, CLANKER could fall to the support at $61.62. Breaking below this price could lead to a drop to $45.6.

In a stronger downtrend, CLANKER could drop as low as $25.78, highlighting the volatility and potential risks in the current market environment.

DOGEai ($DOGEAI)

$DOGEAI has surged nearly 70% in the last seven days, and its market cap has reached $28 million.

It tries to leverage different narratives, like Dogecoin popularity, the attention DOGE (Department of Government Efficiency) is receiving, and the broader AI coins narrative. This strategic positioning has contributed to its rapid rise, drawing significant attention from traders and investors alike.

$DOGEAI defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions.” It provides bill summaries and insights into government spending.

Price Analysis for $DOGEAI.
Price Analysis for $DOGEAI. Source: TradingView.

Initially launched on Pumpfun, $DOGEAI is now tradable on Raydium, on the Solana chain.

$DOGEAI currently has close support at $0.03, which is crucial to maintaining its upward momentum. If this support is tested and lost, it could drop to $0.018 or even as low as $0.0092.

Conversely, if $DOGEAI continues to attract attention and buying pressure, it could test the resistance at $0.048. Breaking this level could push the price to $0.069.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Onyxcoin (XCN) Technical Indicators Hint at Major Breakout

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Onyxcoin (XCN) has fallen 16% over the past seven days, although it’s up by 52% in the last 30 days. The XCN Relative Strength Index (RSI) is currently at 40.1, indicating mild bearish momentum but not strong enough to signal overselling.

Meanwhile, the Average Directional Index (ADX) has declined to 15.1, suggesting that the downtrend is losing strength and could lead to a period of low momentum. Despite the ongoing bearish trend, the Exponential Moving Average (EMA) lines show a possibility for XCN to challenge key resistance levels and potentially surge by up to 30% before March if bullish momentum picks up.

XCN RSI Has Been Neutral Since February 12

XCN’s Relative Strength Index (RSI) is currently at 40.1 and has remained below 50 for the past 5 days without dropping to the oversold level of 30.

This indicates that XCN has been experiencing mild bearish momentum as it stays under the neutral 50 mark.

However, the fact that it hasn’t touched the 30 levels suggests that selling pressure is not overwhelming, potentially signaling a consolidation phase or a weakening of the bearish trend.

XCN RSI.
XCN RSI. Source: TradingView.

RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100. Typically, an RSI above 70 is considered overbought, indicating that an asset may be due for a correction or pullback.

At the same time, an RSI below 30 is seen as oversold, suggesting a potential buying opportunity as the asset could be undervalued.

With XCN’s RSI at 40.1, it is in a cautious zone where the bearish sentiment exists but isn’t particularly strong. This could mean the price is in a consolidation phase, waiting for a catalyst to determine the next direction.

If buying interest picks up, XCN could move towards the 50 mark, signaling a potential reversal to bullish momentum. Conversely, if it continues to weaken, a drop below 30 would indicate increased selling pressure and a possible continuation of the downtrend.

Onyxcoin ADX Shows the Downtrend Is Easing

Onyxcoin, which is built on Arbitrum, currently has an Average Directional Index (ADX) of 15.1 after reaching a peak of 29.4 just four days ago. Since then, the ADX has been declining steadily, indicating a weakening trend.

The drop below 20 suggests that the downtrend, which has been present over the last few days, is losing momentum.

While Onyxcoin price is still in a downtrend, the declining ADX indicates that the strength of this bearish movement is diminishing, potentially leading to a period of consolidation or a slowdown in selling pressure.

XCN ADX.
XCN ADX. Source: TradingView.

ADX is an indicator used to measure the strength of a trend, regardless of its direction. It ranges from 0 to 100, with values below 20 indicating a weak or non-existent trend and values above 25 suggesting a strong trend, either bullish or bearish.

When ADX is rising, it signals strengthening momentum, whereas a declining ADX suggests weakening trend strength. Onyxcoin’s ADX at 15.1 suggests that the current downtrend is losing power and the market is entering a phase of low momentum.

This could lead to a period of price consolidation or even a potential reversal if buying interest returns. However, as long as the ADX remains below 20, any price movements are likely to be weak and lack significant directional strength.

Can Onyxcoin Surge 30% Before March?

Between January 15 and January 26, the XCN price surged more than 1,300%, making it one of the best-performing altcoins of January. However, its price started to decline after that.

Onyxcoin’s Exponential Moving Average (EMA) lines indicate that the bearish trend is still present, but the downward momentum is not as strong as it was some days ago.

This suggests that selling pressure has eased slightly, though the bears still hold control. If selling pressure persists, XCN could test the support level at $0.017.

XCN Price Analysis.
XCN Price Analysis. Source: TradingView.

A break below this support could open the path for a deeper correction towards the next key support at $0.014.

Conversely, if the bearish momentum fades and a trend reversal occurs, XCN could challenge the close resistance at $0.021. A break above this level would signal a potential shift in market sentiment, leading to a rally towards the next resistance at $0.025.

Should bullish momentum build further, XCN could target $0.0339, representing an upside of nearly 30% from current levels.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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