November’s bull rally made many investors rich as they held small-cap coins with excellent fundamentals that can generate quick returns. Analysts believe we are at the beginning of the bull cycle and there is room for many coins to repeat the rally.
Although Solana has performed very well in the past and broken the all-time high, it has traded with lower lows and lower highs over the past three weeks. This correction in SOL price has led investors to diversify into potential small-cap stocks that can generate huge returns even during a correction phase.
A standout small cap is DTX Exchange (DTX); From the first phase of launch, it has increased by 500% and has become one of the top gainers. Due to DTX’s early stage, experts believe this is nothing compared to its future potential.
Solana (SOL) price prediction: What is the next target?
After 8 months of consolidation in the $125-$200 range, Solana hit a new high in November. However, it was only a rise above the record level as the price immediately reversed and fell back below the base. Since the November 22 high, SOL price fell over 20%, reaching a low of $203.27. While major coins have recovered, Solana is yet to overcome the bearish formation.
At the 10th and 14th lows, SOL price was supported by a 50-period moving average, while short-term key averages such as 10- and 20-periods acted as constant resistance. Additionally, the descending trend line represents significant resistance for SOL price as it has been rejected many times. The breakout from the short-term averages and the descending trend line could push Solana into a new rally.
Courtesy: TradingView
If SOL price breaks local resistance, the first major resistance will be a psychological level of $300. Meanwhile, Solana traders are eyeing the $500 target in the medium term.
In 2024, the Solana blockchain attracted 7,625 new developers, surpassing Ethereum for the first time since 2016. With an impressive 83% increase in recruitment, Solana capitalized on its key advantages: low fees and blazing fast transaction speeds. Such 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 overtaken traditional exchanges with robust development in the trading ecosystem. Even before its launch, this unique trading exchange attracted 400,000 traders, demonstrating its great potential in the trading industry.
DTX Exchange brings a new perspective to trading with its hybrid unified platform that enables trading on over 100,000 instruments in assets such as stocks, forex, crypto and bonds. The advantage of a diverse selection of assets on a unified platform was a big draw for traders. The exchange redefines the unique infrastructure of the entire trading sector and offers advantages such as 1,000x leverage.
The DTX Exchange presale has reached the sixth phase, with an expected launch in early 2025. While Solana is struggling with the correction, this platform has emerged as a strong competitor against it. DTX Exchange, like Solana, has a precise roadmap that makes it a significant player in the long term, not just the short term.
DTX Exchange has raised $10.24 million so far, 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 currently. This increase shows clear investor demand as the price increases at each stage.
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