Bitcoin’s Upward Trend Revives Altcoins
Release: 2024/05/18 06:09 Reading: 569
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Bitcoin’s upward trend is revitalizing trading volumes and altcoins. SOL Coin continues its upward trajectory with a 6% increase today. Cryptocurrencies such as AVAX and ADA have witnessed gains of 5%. The king of cryptocurrencies has not surpassed the $67,000 mark in over a month, making this recent activity somewhat unsurprising. So, what lies ahead?
How Much Will Solana (SOL) Be Worth?
The SOL Coin price is climbing above moving averages, aiming once again for the $205 resistance level. While there is still some distance to cover, there are promising signs that the lackluster period may be coming to an end. Closures above the $162 resistance level provide encouragement for further increases. The next targets could be $185 and $205.
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However, if the bears wish to thwart this momentum, they must drive the price below the moving averages. This would provide them with some comfort, with closures below $140 reinforcing their position.
Is the TON Coin Bull Run Over?
The TON blockchain team appears undeterred. Notcoin has made an impressive debut, ranking among the top 8 in trading volume. The network's first major project and its partnership with Tether hold significant importance. The long-term implications remain to be seen, but Telegram, with its tens of millions of users, represents a substantial backing. We have also highlighted certain concerns, such as supply distribution, which pose potential risks.
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Returning to the price action, while TON has rebounded from the 20-day EMA ($6.34) on May 16, the $7.67 threshold poses a challenge. In the absence of a strong upward push, the price may continue to oscillate within the range bounded by the $4.72 support and resistance levels. Should the resistance be breached, the primary target is $9, with double-digit prices potentially remaining elusive for the time being.
Dogecoin (DOGE) Price Predictions
The price of DOGE remains trapped within the suffocating range between $0.17 and $0.12. The Dogecoin team has alluded to initiatives aimed at attracting developers to the blockchain, but there have been no significant developments since last year. Elon Musk’s once-vocal support has now morphed into veiled disdain, with his indifference evident.
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As we have maintained for months, the key targets remain a sustained breakout above $0.17, potentially leading to gains towards $0.21 and $0.23, or conversely, a descent towards $0.08.
The post first appeared on COINTURK NEWS: Bitcoin’s Upward Trend Revives Altcoins
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