Bitcoin (BTC) continues to experience price fluctuations with no clear trend reversal. Investors are keenly watching the upcoming US inflation data. Depending on the results, a temporary rise may occur if there’s no adverse news from MTGOX. This article reviews the latest chart analyses for SOL, DOGE, and TON Coin, shedding light on potential price movements.
Solana’s Short-Term Outlook
Solana (SOL) is currently priced at $140, aiming for the SMA50 target of $151. This goal might trigger short-term profit-taking, potentially leading to another attempt at $116. If the topic of spot SOL ETF applications maintains traction, investor enthusiasm for a rise in the short to medium term could increase. A breakout above the SMA50 will confirm higher level demand due to market sentiment and ETF influences, possibly invalidating the descending triangle formation as the price ascends.
Dogecoin Struggles with Resistance
Dogecoin (DOGE), the most established meme coin, is facing a different market landscape compared to earlier years. New investors are leaning towards newer meme coins with higher growth potential like PEPE, BONK, and FLOKI. DOGE remains under the $0.12 breakout level. If the downward trend continues, DOGE might drop to $0.09, confining it between $0.12 and $0.09. A successful breakout above $0.12 could shift focus to $0.14 and $0.18.
Key Insights for Investors
– Monitor US inflation data for potential short-term BTC price rises.
– Watch for SOL’s movement towards and beyond the SMA50 to gauge market sentiment.
– Consider alternative meme coins with higher growth potential as DOGE remains under pressure.
– Track TON Coin’s progress past the EMA20 for signs of continued recovery.
TON Coin’s Potential Rise
TON Coin has made a significant stride towards its long-term objectives by announcing a new layer2 to strengthen its ecosystem. The coin rebounded from the $6.77 support level, with buyers re-entering the market. A critical level to surpass next is the EMA20 at $7.39, followed by potential ascents to $7.72 and $8.29. The $6.77 support level will remain a crucial point to watch below.
Investors are closely observing these developments to make informed decisions in the volatile cryptocurrency market.