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Solana Price Eyes Breakout To $1,000 After “Parabolic Base” Set Up
After weeks of sideways trading, cryptocurrency analysts are tapping Solana to embark on a meteoric rally in the coming days. Short-term Solana price predictions point to a climb to $150, followed by a spirited push above the $1,000 mark.
Solana Price Has Established A Foundational Base For $1,000
Pseudonymous analyst CryptoCurb is predicting a strong rally for Solana’s price, tapping the asset to surpass $1,000. According to a post on X, CryptoCurb says the push towards $1,000 will happen before the end of the year
Per CryptoCurb, several factors are in play for the rally toward $1,000 including the setting of a “parabolic base” to make the leap. Solana price has spent weeks consolidating around the $120 mark with CryptoCurb interpreting it as a ramp to clinch $1,000.
“Solana consolidating and establishing a foundational base of $120 this past year is the most bullish thing SOL could have done for hopes of tighter targets this cycle,” said CryptoCurb.
While CryptoCurb’s analysis eyes the end of the year, short-term projections predict that the Solana price is headed to $150. The prediction hinges on Bitcoin price swinging upward, a move that could see SOL rally in the coming days.
“We will definitely retest the $120-$123 range before doing a big push upwards imo,” said one analyst.
A Slew Of Positive Onchain Metrics
Solana’s ecosystem is buzzing with optimism, fuelling speculation of a potential rally in the coming weeks. For starters, network adoption has soared to new rights with SOL addresses reaching 11 million.
A barrage of SOL ETFs underscores growing institutional interest in the network, a precursor for huge price leaps for the asset. Furthermore, the Solana price received a small jolt following the bridging of $314 million from the Ethereum network.
The network is moving on from its ad backlash to strike new ecosystem partnerships. A collaboration to integrate TRX on Solana is considered a massive play in the push to a seismic rally.
In view of on-chain and ecosystem activity, dour reports of SOL price below $100 seem far-fetched as traders scan the horizon for early glimpses of a rally.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
While BlackRock holds a clear lead over the tokenized money market fund, Fidelity Investments is keen on closing the gap. Fidelity’s latest play is a filing to the US Securities and Exchange Commission (SEC) to tokenize its USD money market fund.
Fidelity Files Paperwork With The SEC For Ethereum-Based Fund Tokenization
According to a filing to the SEC, Fidelity is seeking the registration of a tokenized version of its money market fund. Dubbed the Fidelity Treasury Digital Fund, the firm is eyeing the registration of an Onchain share class for the fund.
Per the filing, the transfer agent will be blockchain technology with the fund name-checking the Ethereum network. Despite leaning on Ethereum, Fidelity’s filing suggests a future expansion to other blockchains in the future.
The filing reveals that the tokenized fund will not invest in any cryptocurrencies but 99.5% will go to US Treasury securities and cash. At the moment, 80% of the fund’s assets are in US Treasury securities with interest payable upon maturity.
The latest filing follows an application to introduce staking in Fidelity’s Ethereum ETF. In Q4 of 2024, Fidelity waded into blockchain-based funds via a filing with the SEC to catch up to BlackRock.
How Will A Blockchain-based Fund Operate?
Details from the SEC filing revealed that the Ethereum blockchain will be used for secondary recording, augmenting the book-entry form. However, investors in the Fund will be required to have a top blockchain wallet to hold the OnChain class shares.
While the filing does not expressly mention a secondary trading market for OnChain class shares, Fidelity hints at the potential peer-to-peer trading of shares on the blockchain.
“The fund has no current agreement to make OnChain class shares available for trading in a secondary market but may enter such an agreement in the future,” read the filing.
Ethereum Price Gains In The Wake Of The Report
The report of Fidelity with its nearly $6 trillion assets under management tapping Ethereum for tokenization has created a stir in the ecosystem. Ethereum’s price climbed by nearly 2% to trade at just above the $2,000 mark.
ETH has its eyes on a key resistance level that could push Ethereum’s price to $1,700 in the coming days. A slew of negative reports have hit Ethereum in recent days with Standard Chartered slashing its ETH prediction for 2025 by 60%
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin (DOGE) has been experiencing a period of consolidation, but some analysts are predicting a potential price rally to $20. Despite recent challenges in the market, including heightened volatility, some believe that the top meme coin could see significant upward movement soon.
According to crypto analyst Ali charts, the current market structure and on-chain data suggest that a breakout could be imminent, potentially setting the stage for a dramatic rise in Dogecoin price.
Dogecoin Price Market Trend, DOGE Rally Looming?
Dogecoin has remained in a tight consolidation range since March 11, trading between $0.16 and $0.18. This range has become a critical battleground, with investors waiting for clear direction. On-chain data, however, paints a different picture. Over the past week, DOGE whales have accumulated over 120 million Dogecoin, signaling a possible shift in market sentiment.
Despite the sideways movement in price, this accumulation trend suggests that large holders are positioning for a potential price surge. Analysts believe that this increased whale activity could be the foundation for a future rally.
If the meme coin manages to break through the $0.18 resistance zone, it could potentially trigger the next phase of its upward trend. According to some analysts, this could eventually lead to the much-anticipated $20 target, although the timing and specific market conditions remain uncertain.
Fibonacci Levels and Trend Channel Support
Dogecoin price chart shows that the meme coin has established an upward trend. This pattern has been there since early 2015 and has shown long-term sustainability in terms of support. DOGE price is at the mid-market trend at the moment and if the support trend line holds, it can continue an upward movement.
Besides the trend channel, the price of Dogecoin is currently hovering close to the 0.5 Fibonacci level that has served more or less as a support and resistance level. A move above the 0.618 level could signal a bullish continuation, with some analysts like Ali charts predicting a price increase toward higher levels. If this trend holds, the path toward a $20 price target may become more feasible.
Whale Accumulation as a Bullish Signal
On-chain data from analysts such as Ali Martinez highlights the recent surge in DOGE whale activity. Over 120 million Dogecoin has been accumulated in just one week, a sign that large holders are positioning themselves for a potential rally. Whale behavior is a key indicator in predicting future price movements, and this accumulation trend suggests growing confidence in Dogecoin’s prospects.
Many analysts believe that if the price breaks through key resistance levels, such as the $0.18 zone, Dogecoin could see upward movement. The current accumulation of whales is a supportive factor for this potential rally.
Concurrently, another analyst Kevin, according to his forecast, Dogecoin price is currently at a crucial support level, holding around $0.139, which serves as the last line of bull market support. The weekly demand candle from last week signals potential strength, but maintaining this level is key as the 3-day MACD, weekly Stoch RSI, and 2-week Stoch RSI approach full resets.
If the top meme coin loses $0.139 on weekly closes, it could signal downside risk, but the risk-reward ratio remains highly favorable for traders looking to enter. With Bitcoin holding above $70K, this setup suggests Dogecoin price could be gearing up for a strong upside move.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin (DOGE) is in a consolidation phase after experiencing a strong downtrend, indicating that the cryptocurrency is at a critical juncture. A crypto expert’s technical analysis suggests that while Dogecoin’s recent uptrend could continue, traders should remain cautious due to the threat of a false breakout.
Dogecoin Price Rally Or False Breakout?
According to TradingView crypto analyst, ‘EliteFxAcademy_CRYPTO,’ the Dogecoin price is currently consolidating between key zones, indicating that a potential breakout may be on the horizon. After witnessing a severe price decline, Dogecoin has been trading within a defined range on the 4-hour chart, with support levels around $0.158 – $0.165 situated around the lower zones to prevent further breakdowns.
The analysis revealed that Dogecoin’s downturn has transformed into a consolidation phase, where the cryptocurrency is stabilizing and possibly preparing for another leg up. Additionally, the TradingView expert shared critical resistance areas between $0.175 and $0.18, found in the upper zones, that serve as a barrier to limit stronger upward movement.
Until Dogecoin can break out of its resistance zone, its price is expected to remain range-bound. The analyst predicts that a break above resistance zones could potentially signal further growth in the meme coin’s price. Conversely, a drop below key support levels may fuel additional declines in Dogecoin’s already low price.
Historically, a prolonged consolidation in a cryptocurrency often precedes a strong rebound to the upside. If Dogecoin manages to surpass resistance levels, its price consolidation may end, signaling the continuation of its previous uptrend. This trend reversal is expected to push the cryptocurrency’s price toward the $0.19 -$0.2 target and above.
While this bullish outlook could yield a decisively strong move from Dogecoin’s current lows, the TradingView analyst warns of the possibility of a false breakout. This is a scenario where the price of a cryptocurrency momentarily breaches the resistance or support level before swiftly reversing. Since Dogecoin has tested these zones multiple times, the crypto expert has cautioned traders to look out for confirmation signals such as substantial volume or sustained price action beyond the range.
In an alternatively bearish scenario, the TradingView expert has predicted that Dogecoin could decline as low as $0.15 if it experiences a stronger decline below its support range. This would represent an 11.24% decline from recent lows.
What’s Next For Dogecoin?
The Dogecoin price is currently trading at $0.169 after recording a decline of over 40% in the past month. While this downturn has shaken the market, crypto analyst Ali Martinez shares a bullish outlook for Dogecoin, predicting that the cryptocurrency is gearing up for a 16% price swing soon.
The analyst’s optimistic forecast is contingent on Dogecoin’s ability to break out of its current Ascending Triangle chart pattern. If the cryptocurrency can reclaim the ascending trendline and bounce back above $0.19, it could push toward resistance and attempt a breakout.
Conversely, the chart highlights a critical zone where the Dogecoin price is dropping below the trendline, suggesting a possible bearish breakdown toward the $0.16 – $0.158 support zone.
Featured image from DALL-E, chart from TradingView
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