A crypto expert has stated that Dogecoin (DOGE) and Solana (SUN) They have reached their “make or break” levels. This assessment is expected to spark a wave of optimism as DOGE and SOL could be gearing up for a rally soon.
Dogecoin and Solana at the point of success or failure
A Crypto analyst identified as 'CrediBull Crypto' on X (formerly Twitter) revealed that Dogecoin and Solana are currently at a crucial juncture, describing this point as their level of success or failure.
In the analyst's previous post, he expressed confidence that this phase will be beneficial for Dogecoin and Solana as it will bring some relief to their respective markets. He also pointed out that the altcoin structure in the market could see a big “relief” as Bitcoin drags the overall market up.
CrediBull Crypto revealed that the good news about Dogecoin and Solana price dynamics is that both cryptocurrencies reached their point of success at the same time that Bitcoin, the largest cryptocurrency in the world, reached its range lows. Sharing a price chart Solana market movements From April to August 2024, the analyst predicted that if Bitcoin experiences a price reversal, Dogecoin and Solana could also experience a similar reversal. rebound.
He revealed in his previous post that if Solana can hold the green zone between the $141 and $147 range, the cryptocurrency could see another higher high before a meltdown. He also encouraged investors to take profits in the green and sell back from the top.
Besides, CrediBull Crypto forecast new lows towards the $115 range for Solana. He revealed that Solana and Dogecoin would witness a slight reversal, raising their values amid the bearish market trend.
As mentioned above, this projected investment for Dogecoin and Solana depends on the future performance of the Bitcoin price. At the time of writing, Bitcoin is trading at $67,882, seeing significant declines despite the rise Bitcoin Spot ETF Inflows and the strong market demand for these digital assets.
During last week, bitcoin has experienced 4.16% decline, effectively pushing the cryptocurrency below its previous high of $71,000 earlier this month. The cryptocurrency could be seeing renewed interest from investors as its value has increased by 1.24% in the last 24 hours, according to CoinMarketCap.
Update on Dogecoin and Solana price
Dogecoin and Solana are currently registering sharp falls, underscoring the lack of cryptocurrency performance in the cryptocurrency market lately. At the time of writing, Dogecoin Price It stands at $0.14, which represents a significant drop of 13.79% over the past week.
Solana, on the other hand, has seen a significant drop over the last seven days, falling 11.63%. This downward trend has continued, pushing the cryptocurrency's price to $152 after experiencing another 1.16% drop in the last 24 hours.
Featured image created with Dall.E, chart from Tradingview.com
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