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Veteran trader Peter Brandt shared his take on the current state of Ethereum (ETH), suggesting it’s poised for a breakout. Although Brandt did not explicitly mention this, his ETH daily bar chart spoke for itself. Based on the trader’s chart, the Ethereum price has been consolidating over the past three weeks, forming a symmetrical triangle,
The post Peter Brandt Ethereum Price is Primed for Breakout – How High Can ETH Go? appeared first on CoinGape.
The post Solana Activity Plunges as SOL Drops Below $100 for the First Time in a Year: What’s Next for SOL Price? appeared first on Coinpedia Fintech News
President Donald Trump’s recent decision to impose 25% tariffs on imports from Canada and Mexico, along with increasing tariffs on China to 20%, has led to threats of retaliation. These trade wars have caused billions of dollars in liquidation in the crypto market, sending leading altcoins like Solana to their yearly lowest prices. As a result, important on-chain metrics have sharply declined, increasing the likelihood that Solana’s price may remain stuck below the $100 mark.
Solana’s price is facing a critical moment after falling below the important $100 support level, marking its lowest level since February 2024.
According to data from Coinglass, there have been significant liquidations of Solana positions in the past 24 hours, totaling about $86.3 million. Out of this, buyers liquidated $67.2 million in long positions, while sellers closed $19.1 million in short positions.
Adding to this selling pressure, more than $50 million worth of SOL tokens are scheduled to unlock this week. Meanwhile, the overall altcoin market is experiencing high fear levels, with the crypto fear and greed index now at 22.
On-chain activity has also been dropping recently. The number of active addresses on Solana decreased from a peak of 3.52 million to 2.99 million last week. Additionally, new addresses on the network fell from 3.51 million to 2.78 million. This decline in activity suggests weakening demand and interest, indicating sellers currently have the advantage.
Also read: Solana Back Above $100 as Bulls Gain Control—Will SOL Price Reclaim $110?
Aside from the recent sharp decline in Solana’s price, the protocol has also lost its position as the top decentralized exchange (DEX), falling behind Ethereum. This could negatively impact sentiment. However, there are positive moves worth noting, which might meet SOL buyers’ expectations.
One important factor is the push for a Solana ETF in the United States. Although the chances of approval aren’t as strong as those for Litecoin or Dogecoin ETFs, if approved, a Solana ETF would attract long-term support to the ecosystem.
Solana (SOL) is currently facing a strong downward pressure as its price dropped sharply after failing to hold at $118. The price initially dropped below the crucial $100 level to form a low near $95. However, it later triggered a rebound and surged above $100. As of writing, SOL price trades at $106, declining over 1.53% in the last 24 hours.
Interestingly, buyers have shown interest to accumulate more SOL around the dip below $100, resulting in the recent rebound.
The Relative Strength Index (RSI) is at 39, indicating that the bearish momentum is strong. If buyers manage to rally and push the price up towards the crucial resistance of $110, SOL could potentially reach a resistance zone at $135-$160. Breaking past this point might restore market confidence and possibly lead to a rise towards $180.
Conversely, if SOL fails to stay above the $110 level, it could face a stronger decline, possibly falling to an important support level at around $100. A drop below this could trigger further losses, sending Solana below $80.
The post Solana Activity Plunges as SOL Drops Below $100 for the First Time in a Year: What’s Next for SOL Price? appeared first on Coinpedia Fintech News
President Donald Trump’s recent decision to impose 25% tariffs on imports from Canada and Mexico, along with increasing tariffs on China to 20%, has led to threats of retaliation. These trade wars have caused billions of dollars in liquidation in the crypto market, sending leading altcoins like Solana to their yearly lowest prices. As a …
Earlier today, RedStone amended the terms of its RED token airdrop without warning, causing Binance to suspend its listing. This caused the price to crash dramatically amidst community feedback, but the project soon responded.
Now, an extra 2% of RED tokens are being airdropped today, and Binance is listing them as normal. The price has rebounded, but community resentment may linger all the same.
RedStone, a DeFi oracle project, has run into some difficulties with its RED token airdrop. Over the past few months, the project became increasingly popular among the crypto community, and received support from leaders in Liquid Staking.
RedStone’s native token RED launched today, and Binance was supposed to list it on launch time.
However, the project claimed at the last minute that the airdrop would be smaller than usual, and Binance refused to list the token.
“Due to unexpected and last minute changes by RedStone to the allocation of their community airdrop distribution, the trading start time for RED will be suspended until further notice. RedStone had originally committed to distribute 9.5% of their total supply to the community via airdrop distribution. The project has now lowered this amount to 5% of the total supply,” it read.
Naturally, RedStone’s announcement caused a huge controversy within the community, which was only compounded by Binance.
Binance is the world’s largest crypto exchange, and its listings have consistently led to huge price spikes for the relevant tokens. For a time, this decision looked like a huge fiasco, leading RedStone supporters to speak out:
“The RedStone airdrop situation is a mess. It looks like 95% of users received nothing, despite years of activity— people who spent 1-2+ years engaging with the project were completely ineligible. I’ve never seen a precedent like this. Every launch like this reinforces [that] there is no real transparency in airdrops, and every mistake like this damages the brand,” one user said.
However, after Binance announced the suspension, RedStone addressed the controversy. The firm responded to community feedback, amending its airdrop plan once again.
5% of RED tokens have already been distributed, and the missing 4.5% will be distributed six months after TGE. Today, 2% will be airdropped on top of that.
Following the amendment, Binance reversed its decision and RED rallied back up, reversing previous losses.
According to data from both CoinGecko and CoinMarketCap, RED launched at $0.80 today. While it briefly went up to $0.98 after Binance’s re-listing announcement, it’s yet to hit the dollar mark.
Overall, RedStone’s reputation may suffer as a result of this incident, even though it acted quickly to correct the problem.
The post Binance Will List RedStone (RED) After Previous Delisting Announcement appeared first on BeInCrypto.
In an uptrend, Janover, a software company acquiring $4.6M Solana (SOL) would skyrocket prices. However, bear market dampens this bullish development, leaving Solana price to crash below $100 and retest $75, a level not tagged since December 2023.
In a recent filing, Janover, a small US-based software company, announced the acquisition of Solana (SOL) to its treasury as part of its new strategy. This US institution follows MicroStartegy’s (Strategy) path as it raised $42M through a private offering of convertible notes.
As a result of this move, the company’s stock price soared more than 429% in the past four days. Solana price, however, didn’t budge and is likely due to the ongoing bearish outlook involving Trump’s tariff trade war, Bitcoin’s (BTC) bearish market structure and macroeconomic uncertainty.
Due to these conditions, the Solana price could see a further collapse.
From the three-day chart, it is clear that Solana price has shattered the $126 key support level. SOL’s value hovers around $116 after a 2.13% drop today. This barrier provided demand since March 4, 2024, and prevented the token from collapsing. However, a March 29 sell-off flipped this support into a resistance level.
Subsequent attempts to overcome this level have failed, but the $100 psychological level is what’s preventing SOL price from collapsing lower. If the crypto market outlook does not improve or if Trump lifts the 90-day tariff pause, this $100 level will also flip into a resistance. In such a case, the next strong demand area is $74.94. After a consolidation here in December 2023, Solana price exploded nearly 78% in the next nine days.
Hence, a revisit of $75 is likely based on this Solana price prediction in the next few days, especially if the crypto market outlook continues to worsen.
To conclude, sub-$100 Solana is not unlikely if the crypto market outlook remains the same. If Bitcoin catalyzes a bullish reversal, it could provide relief to altcoins, including SOL. In such a case, the price could push toward $126, flip it into a support floor, and allow it to catapult toward the $127 to $168 value area and its highest volume level at $142.
The post Solana Price Crash to $75 Imminent Even as US Company Accumulates $4.6M SOL appeared first on CoinGape.