The Solana price rally has hit a wall around $135, after a recent uptick. While the SOL price has dipped, analysts believe an uptrend is on the way. Meanwhile, Shiba Inu continues to attract attention with its growing ecosystem.
Information from CryptoQuant shows that SHIB reserves on exchanges have reduced to an all-time low. Apart from this memecoin, whales are still accumulating DTX Exchange (DTX). The price of the DeFi coin is expected to rise by 10x in the coming months, attracting large interest from new and old investors.
Solana (SOL) Drops After Failure To Break Resistance
The Solana price met a sell wall around $135 on March 15, which sent it dropping below $125 on Tuesday. Despite the pullback, the Solana price still has a 2.7% increase in the weekly timeframe.
Bulls may attempt to break the $135 level again in the next few days. Meanwhile, Mister Crypto has highlighted a bullish pattern on the Solana price chart. According to the analyst, the Solana price has formed a cup and handle pattern, which signals a potential breakout to higher levels.
To complete the pattern, the Solana price must rise past the trendline at $240 in the next few days. If this happens, the Solana price might surge to $280. Another expert, Crypto Patel has a more bullish stance for the Solana price. The analyst forecasts the Solana price might pump to $500 in the long run.
Shiba Inu (SHIB) Rises As Exchange Reserve Drops
The Shiba Inu price has been consolidating between $0.000010 and $0.000013 in the past seven days, per CoinMarketCap. The Shiba Inu price recently rose to $0.00001363 before witnessing a minor correction due to selling pressure.
Meanwhile, a recent report from CryptoQuant reveals the SHIB reserve stored on crypto exchanges has crashed to an all-time low of 96.6 trillion SHIB from 135.4 trillion SHIB in January this year. This massive decline could mean that investors are optimistic about the Shiba Inu price trajectory and have decided to hold. Going forward, CryptooELITES forecasts the Shiba Inu price could rally by 17x to $0.00023.
He posted a chart that showed the Shiba Inu price trading in a triangular pattern. The analyst expects a price rally to occur soon, as he told his followers the Shiba Inu price is in a strong buying zone. Another analyst called Rose Premium Signals says the Shiba Inu price could pump to $0.00001305.
Why DTX Exchange (DTX) is the Best DeFi Project for Traders
While the Solana price eyes a potential recovery, investors are showing interest in a new project called DTX Exchange (DTX). This is a hybrid model platform (centralized and decentralized features) that provides users with a fast and secure trading experience. As of now, the platform has more than 700k registered users, which means that the platform is gradually growing.
The token is currently selling at $0.18 and could pump by 2x upon launch. The main feature of DTX Exchange is the multi-asset option that includes cryptocurrencies, stocks, forex, commodities, and ETFs. DTX offers over 120k asset classes, so traders can build various portfolios without switching between multiple platforms.
Meanwhile, DTX Exchange is one of the few exchanges that do not have a strict KYC procedure. So, it will take only a few minutes to register. Furthermore, DTX Exchange has a VIP Rebate System that enables the user to receive up to 3% of the trading fees. By so doing, traders are rewarded for their trading activities and get a share of the platform’s revenue.
Solana Price Drops As Investors Rush To New DeFi Token
While the Solana price battles resistance, savvy investors are doubling down on new DeFi projects like DTX Exchange. The newcomer seeks to make trading more profitable through its hybrid approach and advanced trading tools. With investors piling in and anticipation of a massive breakout, DTX might be the best crypto to invest in now.
Find out more information about DTX Exchange (DTX) by visiting the links below:
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