Solana (SOL) Breaks Down Of The Rising Channel Pattern

Solana (SOL) has again faced difficulties with the declining trendline resistance. Last Tuesday, the SOL price reached a high of $183.30 and faced rejection from the trendline, where it has been rejected twice before. Afterward, Solana (SOL) price broke down from the rising channel pattern, showing the bear's strength in the price.

While DTX Exchange (DTX) and Dogecoin (DOGE) have led the bull market with bullish price action on the charts, they are also considered rivals of Solana (SOL). However, expectations are high that DTX will outshine SOL in the future.

Solana (SOL) Breaks Down Of The Rising Channel Pattern

Solana (SOL) has encountered resistance at the declining trendline once again. Last Tuesday, the SOL price reached a high of $183.30 and faced rejection from the trendline, where it has been rejected twice before. Following this, Solana (SOL) price broke down from the rising channel pattern, indicating bear strength in the price.

Currently, Solana (SOL) is trading at $167 with 20-period moving average acting as a support. In further downside, the 50-period moving average is a major support with $160 as the demand zone. Solana (SOL) needs to break above the declining resistance to make an all-time high.

Dogecoin (DOGE) Retraces To 0.318 Fibonnaci Retracements

Dogecoin (DOGE) has paused its rally after a 60% surge, retracing back to the first Fibonacci retracement level. DOGE has pulled back 13% from the high in the last three days. 10-DMA is the immediate support for Dogecoin (DOGE), and the weekly high is the immediate resistance level.

According to technical analysis, if the Dogecoin (DOGE) price maintains support above $0.20, it could trigger a massive price surge. DOGE’s Market Value to Realized Value (MVRV) Ratio, which measures the average profit of all holders based on the last price each token traded, has reached a five-month high of 77%. Currently, DOGE is trading around $0.15, and investors are keeping a close eye on its next moves.

DTX Exchange (DTX) Best Contender In High Total Addressable Market (TAM)

The global trading market is valued at over $11 trillion, with centralized exchanges having the majority share. In the decentralized market, potential players are limited. DTX Exchange, with its combination of centralized and decentralized features, is the ideal player in this vast industry. Being the first hybrid exchange that has curated its technology based on the needs of traders,

DTX Exchange provides end-to-end solutions for traders and investors, offering more than 120,000 instruments on its platform with 1,000X leverage, boosting traders’ profits. The DTX platform also features a variety of advanced trading tools, including algorithms and Quant trading. The AI order execution helps improve order flow and liquidity and increases the exchange’s speed.

DTX Exchange is currently in its presale phase, which presents the best opportunity for investors. So far, the DTX presale has raised $6.37 million from over 7,263 coin holders. It is now in the fourth stage with a price tag of $0.08. Additionally, the happy Halloween offer is available, providing an extra 100% on deposits using the code “SPOOKYDTX.”

Learn more:

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