Solana (SOL): Solana (one of the top 10 altcoins) is making efforts to regain its previous highs after a challenging period. It mentions that Solana is testing the 100-day EMA (Exponential Moving Average) and the $140 price level, which is a critical juncture for the cryptocurrency. The increasing trading volume suggests the potential for a breakout, and if Solana successfully breaches the 100 EMA, the next resistance level is around $150. The article also highlights the support level at $115 and the possibility of downward pressure if that level fails to hold.
Bitcoin: Bitcoin is approaching the crucial threshold of $60,000 and is currently hovering around the 100-day EMA at approximately $59,000. However, it mentions a cautious approach among investors, with the trading volume and price movements indicating a slower climb than anticipated. The immediate resistance after $60,000 is observed around $63,500, and maintaining support above $52,100 is crucial for sustaining bullish sentiment.
Dogecoin: Dogecoin has a significant concentration of holdings, with 63% of the total supply held by large holders. It also states that 80% of Dogecoin holders have been profitable. The holder composition reveals that a majority of holders have held their tokens for over a year, indicating long-term speculation or loyalty. On-chain signals for Dogecoin are mostly bearish, with cautious investor sentiment reflected in a minor decrease in the money metric and large transactions. The article highlights a crucial support level at $0.12 represented by the 200 EMA, and a break below this level could lead to further declines. On the upside, resistance is near $0.15334, indicating a potential recovery if surpassed.
Source: UTODAY
