The Rise of Altcoins: Solana, Ethereum, Dogecoin, Chainlink, and Cardano - Latest cryptocurrency news

The Rise of Altcoins: Solana, Ethereum, Dogecoin, Chainlink, and Cardano

Although there has been a slight slowdown in the cryptocurrency markets recently, Bitcoin has surpassed $37,000 and continues to climb higher. Altcoins have also gained value, showcasing their strength. Crypto analyst Moustache reported that a graph model from three years ago indicated the beginning of the first major altcoin season and provided a potential exit signal for altcoins through the Gauss channel.

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According to altcoin analyst Altcoin Sherpa, Solana (SOL) is expected to consolidate between $50 and $75 for a while but is predicted to reach triple-digit levels in 2024. Currently, Solana is trading at $59.61, with a 0.43% decrease in the last 24 hours. SOL has shown a 5.65% increase in the past 7 days and a 72.19% increase in the past 30 days.

Ethereum (ETH), considered the king of altcoins, is expected to surpass the psychologically important threshold of $3,000 in the coming months, according to Altcoin Sherpa. Based on the latest data, ETH is trading at $2,042 with a 0.34% increase in the last 24 hours. As the largest altcoin in terms of market value, it has experienced a 1.04% decrease in the past week and a 13.47% increase in the past 30 days.

Experienced crypto analyst Ali Martinez suggests that if Dogecoin (DOGE) surpasses the significant resistance level of $0.087, its price could almost double to reach $0.14 in the short term. DOGE is currently trading at $0.08381 with a 3.17% increase and approaching the mentioned resistance level. The popular memecoin has seen a 10.41% increase in the past 7 days and a 20.86% increase in the past 30 days.

Altcoin Sherpa recommends taking an initial position in Chainlink (LINK) within the range of $15 to $13, as it is highly likely to surpass these levels multiple times within a year. As of writing, LINK is trading at $14.36 with a 1.82% decrease in the last 24 hours.

Another altcoin closely followed by Ali Martinez, Cardano (ADA), is expected to make a significant move. Martinez believes that ADA reflects the consolidation trend from 2018 to 2022 and could break the $0.45 resistance by the end of December, potentially reaching $0.75. According to the latest data, ADA is trading at $0.3753 with a 2.43% decrease in the last 24 hours. ADA has seen a 1.47% decrease in the past week and a 27.96% increase in the past 30 days.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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