Analyzing Solana's 2024 patterns alongside Ethereum's 2020 trends suggests a potential 3.2x increase, projecting $SOL to hit $600 during the upcoming distribution wave.
With the current market dynamics and Solana's money velocity in 2024, this forecast is on the cautious side. Let's bookmark this and revisit the chart in September.
🏦 Coinbase Wallet triumph over SEC allegations is a ‘giant win’ for DeFi
A U.S. judge has determined Coinbase’s self-custody crypto wallet doesn’t make it a broker, which lawyers say is a “significant setback” for the SEC and a boon for DeFi.
U.S. District Judge Katherine Failla on March 27 denied Coinbase’s bid to dismiss a Securities and Exchange Commission’s lawsuit, finding the SEC “sufficiently pleaded” Coinbase was unlicensed and its crypto staking offering was unregistered securities.
has entered the hot momentum phase. Around halving, it is usually time to forget about what you learned about RSI as indicating "overbought" or "oversold" levels.
Up-only mode is activate on Solana, I believe it won’t be paused until the end of 2024.
At the moment we can see a small correction, distribution of funds. There is a bullish pennant forming above the $180 support level — Good entry point.
It is forming inside the big bullish flag.
However, Bitcoin can ruin this setup. In this case you should be ready averaging your position in the ~$150 zone.
**🚨 The FED’s preferred measure of inflation.. US Core PCE is due tomorrow** and will be the highlight event of the week.
**🔮Expectations: m/m figure to print +0.3% vs +0.4% last month.**
This highlights that the market is expecting a lower print to the last thus that scenario has been priced in.
**⚠️ However, if there is significant deviation, in other words a much higher than expected print it is wise to expect bearishness. On the other hand, if it is lower than expected, the market will have a bullish case 🥵**
The US30 (Dow Jones) remains in bullish territory despite the overextended zones it reached. Recent GDP numbers are going to help out this index to the bullish side .Seeing how yields are stagnant this week and the dollar is weaker today suggests that GDP has in good shape.
Price is up around 0.78% this week as we approach PCE reports tomorrow. What the index would most likely want to see is a lower PCE number. Although, either way it doesn't seem like it will impact the market too much.