While Solana has shown a remarkable recovery amid the shifting market sentiment, DTX Exchange (DTX) has equally captured investor confidence with its hybrid model. Among the two, traders are showing increased activity in the DTX Exchange network. This emerging presale powerhouse is gaining traction for lightning-fast execution speeds and high leverage.
As of today, Solana is on the brink of hitting a potential breakout as its 50-day Simple Moving Average has developed a golden cross with the 200-day SMA. This sudden bullish sign could potentially push SOL far beyond the $200 price level – something Solana hasn’t seen for months. As of today, Solana is trading at $179.5, with a minor 1.67% surge in the last 24 hours.
The Solana network’s technical analysis indicates that the 50-day SMA (blue line) is nearing a crossover above the 200-day SMA (yellow line). The 50-day SMA suggests a short-term trend, while the 200-day SMA indicates longer-term market sentiment. Currently, SOL holds a $84.53 billion market cap, which has surged by 2.15% (approximately $174 million).
Following the bullish markers in the network, Solana’s Chaikin Money Flow (CMF) has displayed a positive move to 0.24. Based on the presented data, SOL displays strong capital inflows into the network, with buying pressure outpacing the selling activity. Speaking of the surging trading volume, Solana’s 24-hour volume has surged by 34.8% to $3.88 billion.
Following the bullish narrative for Solana, the Bull Bear Power indicator for SOL has recently recorded 16.57. This positive reading suggests Solana's market dominance following investors' high buying pressure. Currently, SOL is experiencing a bullish phase, with bulls maintaining control over the price action. Its technical indicators have also indicated a potential rally in the near term.
Trading in the green area at the time of writing, Solana has shown a stable position above its crucial support at $171.91. If SOL is able to hold above this level, bulls might continue their bullish rally and push Solana toward the $188.74 resistance. Furthermore, if buyers maintain their current accumulation, SOL could potentially see new highs.
Speaking of new highs, the next price level for Solana is $120.18. SOL visited this price point last on March 18. That, too, if Solana is able to break through its strong resistance levels. Failure to maintain the $171.91 support could trigger a fall to $160, with more weaknesses developing in price action – potentially testing the $148.27 level before it nears critical levels.
DTX Exchange (DTX) is gaining prominence for its increasing adoption among Solana investors particularly. In a recent analysis, DTX Exchange has experienced a high rate of investors moving from the Solana blockchain to its hybrid platform. The overall investor shift has shown a 37% rise in DTX Exchange’s existing 75,000-user community.
DTX Exchange (DTX) has raised over $2 million in a private seed round, over $100,000 in a single-day raise, and sold over 15 million DTX tokens to unique holders within the community. Certain traders have claimed that the numbers for DTX Exchange have drastically gone up after it rolled out the ‘DTXOG’ promo code that offers an extra 50% on any deposit amount.
DTX Exchange (DTX) is swiftly climbing ranks amid the broader market shift. Noticing the skyrocketing presale rally, crypto whales have also joined the bullish network to claim high rewards and benefits. The platform is gaining recognition for its smooth operational features as well as frequent upgrades and enhancements within the blockchain.
As Solana shows signs of an upcoming massive rally, DTX Exchange’s mind-blowing presale performance has stolen the spotlight and pulled investors as the best Solana alternative in the volatile crypto market.
Learn more:
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.