Skip to main content

Biggest Movers: SOL Slips to 12-Day Low, as NEAR Drops by Nearly 12% on Tuesday

Solana fell for a second consecutive session on Tuesday, pushing the token to its lowest level in twelve days. The move comes as sentiment in crypto markets turned bearish ahead of tomorrow’s FOMC meeting. Near protocol was also lower, dropping by as much as 12% today.

Solana (SOL)

Solana (SOL) was in the red for the second day running, as prices moved closer to a key support level.

On Tuesday, SOL/USD slipped to an intraday low of $35.28, which is the lowest level that the token has traded since July 14.

The move pushed prices closer to a support point of $32.40, which has been in place since mid-June.

This recent downtrend in solana started exactly a week ago today, when the $47 price ceiling held firm, following an attempt from bulls to move to $50.

Looking closer at the chart, this took place as another ceiling was it, as price strength ran into a resistance point of 65.20.

That was the highest the relative strength index (RSI) had tracked since early April, with previous bulls unable to sustain the pressure needed for further rallies.

SOL/USD could first head towards the $32.40 floor, before we see bulls prepare to reenter.

Near Protocol (NEAR)

Like solana, Near protocol (NEAR) extended recent losses during today’s session, with the token falling by as much as 12%.

Following a peak of $4.08 to start the week, NEAR/USD dropped to a low of $3.59 earlier in the day.

This saw the token fall to its lowest point since last Monday, June 18, when prices were climbing from a then-floor of $3.50

Today’s selloff has taken near protocol back towards this point, and comes following last week’s failed breakout into the $5.00 region.

The drop in prices comes as the 14-day RSI slipped below a floor of its own at 46.80, and is now tracking at 44.99.

Overall, NEAR is now trading over 17% lower than at the same point last week, with all indications pointing to further declines in upcoming sessions.

Register your email here to get weekly price analysis updates sent to your inbox:

Will near protocol move back toward $5 in the next few weeks? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/ZdLsHa5
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more