November’s bull rally has made many investors rich as they held small-cap coins with outstanding fundamentals that can produce quick returns. Analysts believe we are at the beginning of the bull cycle, and there is room for many coins to replicate the rally.
Even though Solana has performed very well in the past, breaking through the all-time high, it has been trading in lower lows and lower highs in the last three weeks. This correction in the SOL price has made investors diversify into potential small-caps, which can generate tremendous returns even during a correction period.
One standout small-cap is DTX Exchange (DTX); from the first stage of the launch, it has risen 500%, becoming one of the top gainers. Because of DTX’s early stage, experts believe this is nothing compared to its future potential.
Solana (SOL) Price Prediction: What’s The Next Target?
After 8 months of consolidation in a range of $125-$200, Solana made ATH in November. However, it was just an uptick above the record level, as the price immediately reversed and fell back under the base. From the high of 22 November, the SOL price declined over 20%, forming a low of $203.27. While major coins have recovered, Solana has yet to beat the bearish formation.
On the 10th and 14th lows, SOL price was supported by a 50-period moving average, while short-term key averages like 10 and 20-period worked as constant resistance. Also, the descending trendline is a significant resistance to SOL price as it has been rejected many times. The breakout from the short-term averages and descending trendline can push Solana for a new rally.
Courtesy: TradingView
If the SOL price breaks through the local resistance, the first major resistance will be a $300 psychological level. Meanwhile, in the mid-term, Solana traders are watching the $500 target.
In 2024, the Solana blockchain attracted 7,625 new developers, surpassing Ethereum for the first time since 2016. With an impressive 83% rise in recruits, Solana leveraged its key advantages: low fees and lightning-fast transaction speeds. These kinds of positive developments in the ecosystem could drive the SOL price higher.
DTX Exchange (DTX) Attracts Global Traders With Exceptional Features
The first DeFi hybrid platform, DTX Exchange (DTX), has stolen the spotlight from traditional exchanges with robust development in the trading ecosystem. Even before the launch, this unique trading exchange has attracted 400K traders, demonstrating its strong potential in the trading industry.
DTX Exchange brings a new perspective to trading with its hybrid unified platform, which allows trading over 100,000+ instruments in assets like stocks, forex, crypto, and bonds. The benefit of diverse asset selection in a unified platform has been a major attraction for traders. The exchange redefines the whole trading sector’s unique infrastructure and benefits like 1,000x leverage.
DTX Exchange’s presale has reached the sixth stage, with an expected launch in early 2025. As Solana struggles with the correction, this platform has emerged as a strong contender against it. Like Solana, DTX Exchange has a precise road map, which makes it a significant player in the long run, not just in the short term.
DTX Exchange has raised $10.24 million to date, making it one of the best ICOs of the year. The token price has also increased from $0.10 in the fifth stage to $0.12 at the current time. This uptick shows clear investor demand as the price increases at every stage.
Learn more:
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