These Altcoins Can Explode If Solana Clears $200

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As a seasoned analyst with over two decades of experience in the financial markets under my belt, I can confidently assert that the Solana ecosystem presents a golden opportunity for investors looking to boost their portfolios before year-end. With SOL poised to breach the $200 resistance level, it’s time to keep an eye on three promising altcoins within the ecosystem: Bonk, SLERF, and Popcat.

Investors have a wealth of chances within the Solana ecosystem to boost their returns before the end of the year, as it is brimming with opportunities. SOL has a reputation for dramatic surges, whether upward or downward. However, with the approaching bull run melting the ice, a breakthrough above the significant $200 resistance level might spark a substantial rise in certain cryptocurrency projects.

Tokens Likely To Explode As Solana Price Drops To Collect Liquidity

As an analyst, I find myself observing Solana’s price trajectory approaching a significant support level around $140, having recouped much of its upward surge this week from $160. Contrastingly, the 200-day Exponential Moving Average (EMA) suggests a shift in trend dynamics, indicating that if demand continues, we might witness Solana surpassing the $160 mark once more and potentially setting sights on a new trend target of $200.

Traders will be on the lookout for a possible rebound from the 200-EMA support priced at $140 before the week ends, with plans to both purchase and keep the asset in the near term as well as long term. Short-term traders aim for targets around $150 and $160, while large investors such as whales might choose to hold onto the token until it reaches $200 or higher.

While trading Solana promises massive returns, some coins within the ecosystem could yield more. Bonk (BONKL), Slerf (SLERF), and Popcat (POPCAT) are the best altcoins to buy before SOL price climbs above $200. All the tokens are trading at an impressive discount from the all-time high, which will ensure that investors significantly maximize profits.

  1. Bonk

The cryptocurrency token known as BONK holds a prominent position among popular meme coins on the Solana blockchain. It serves as a tool that encourages collaboration within the community, boosting participation and backing numerous projects within the ecosystem. By doing so, BONK plays an essential role in championing decentralization and fostering community-led initiatives, thereby enhancing the robustness and vitality of the Solana network.

These Altcoins Can Explode If Solana Clears $200

Investors can focus on the dollar-cost average strategy as Bonk price seeks support amid the sell-off in August, especially with the Moving Average Convergence Divergence (MACD) indicator set to send a buy signal on the four-hour chart. Similarly, the ascending trendline support near $0.000018 would be a good entry position to take an early positon before the next bullish breakout.

2. SLERF

The SLERF token functions within the Serum decentralized exchange that is built on the SOL blockchain. This token encourages liquidity providers by offering rewards, thus enhancing market depth and facilitating seamless trading experiences. Users who supply liquidity to Serum pools are rewarded with SLERF tokens, which helps keep DEXes running smoothly and attracts more liquidity to the platform. In essence, SLERF is vital for the proper functioning of these decentralized exchanges.

In recent days, the value of the token has grown significantly, rising by approximately 3% to reach $0.1566. According to Coingecko, it currently holds a market capitalization of $78 million and has seen trading volume exceeding $15 million within the past day. A trend line support suggests a potential recovery is on the horizon, as bulls aim to break through the green supply area in an effort to solidify this reversal in the upcoming weeks.

These Altcoins Can Explode If Solana Clears $200

If the pressure mounts on the selling side and the trend line support weakens, investors might decide to lower their entry points to approximately $0.15, $0.14, and even down to $0.1283 (the lowest point in August). On the flip side, resistance at around $0.18 and $0.2 may temporarily halt any potential rally, even if the price of SOL reaches $200.

3. POPCAT

The token called POPCAT is used within apps for purchases, tips, and decision-making. It’s played a key role in Solana’s growth due to its ability to increase user interaction and build ecosystems. Even during the recent market downturn, POPCAT has maintained a strong level of support, as shown by its trend line and the 50-day moving average.

Investors believe the price of the stock could rise above $0.8, potentially reaching $1 within the coming days. This optimistic prediction is reinforced by a buy signal from the Moving Average Convergence Divergence (MACD), indicating a significant increase in value soon. Additionally, the 20-day Exponential Moving Average (EMA) support at $0.7 gives investors an opportunity to buy slightly lower, reducing potential risks of loss.

These Altcoins Can Explode If Solana Clears $200

If the trend at $0.8 resistance persists, POPCAT could potentially see a deeper decline towards its 200-day Moving Average around $0.6. Given market conditions, it’s wise to be ready for potential drops even to the $0.5 and $0.4 levels. Profitability may increase if you buy when prices fall, as Solana is expected to surge beyond $200.

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2024-08-29 21:48