Bulls Jump Into Rescue:
Solana (SOL) & Cardano
(ADA) Price Could Go Long
Soon
The post Bulls Jump into Rescue: Solana (SOL) &
Cardano (ADA) Price Could Go Long Soon
appeared first on Coinpedia Fintech News
With a rise of over 2% in the market cap, the
cryptos are trying hard to hold significant strength.
As Bitcoin price continues to trade sideways,
some of the altcoins are facing notable bearish
heat, while others are defending the lower support.
Cardano (ADA) & Solana (SOL) are among the
altcoins that have been forecasting the possibility
of a bullish rebound.
Cardano (ADA) Price Aiming for a 10x Rally
After trading within a narrow range for nearly a
month, the Cardano price triggered a fresh bearish
move, losing by over 30% since the beginning of
2024. The volume continues to drop and is
primarily dominated by bears, indicating less
involvement from bulls. However, the token
continues to trade in a bullish pattern, suggesting
the price will follow an ascending trend in the long
term.
In the weekly chart, the ADA price appears to be
following the cup and handle pattern. Interestingly,
the DMMI is flashing bearish signals as the ADX is
about to drop, while both the Di lines are expected
to undergo a bearish cross-over. This may cause a
minor pullback, but the lower supporting curve
may hold the price and initiate a healthy rebound.
With this, the road to a dollar remains intact, which
may materialize in the coming weeks.
Solana (SOL) Awaits for a Huge Price Action
Solana's price has been witnessing a constant rise
in its value, due to which the token registered itself
as one of the top performers of 2023 with a more
than 1000% jump. However, after marking highs
above $126 in the last few days of 2023, the token
has been constantly printing bearish candles,
discovering new lows every day. Now that the
price is heading towards the crucial range, a
strong rebound appears to be imminent.
The SOL price was maintaining a steep upswing
until the bears jumped in and began to extract
notable gains.
