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Solana [SOL] Gets Sucker Punched By Bear as Supports Shatter

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The new week was not kind to the cryptocurrency market as price points and daily trading volume continued to plummet. Bitcoin’s inability to hold above the $50k mark trickled down to the other alts as well. Solana [SOL], currently 7th on the charts, fell hard in the hourly spectrum as its compatriots fared better.

At press time, Solana was trading for $132.01 while its market cap struggled to go above $40 billion. The 7.5 percent hourly dip played a major role in lowering the daily trading volume to $4.8 billion. Over the past 7 days, Solana fell by a whopping 18.2 percent. On Wednesday, Solana’s market cap was approximately $4.5 billion lower than the sixth-placed XRP.

Solana 1 hour:

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Solana’s bearish price action since the 18th caused it to dip to current levels. The immediate support was formed last night at $121, a $10 drop-in 24 hours.

Parabolic SAR: The markers stayed below the price candles after a see-saw movement throughout the week. According to the indicator, the buying momentum in the Solana market had reduced considerably.

Relative Strength Index: The RSI moved on the zero line which meant that the number of people selling their SOL tokens was equal to the HODLers. In the last 10 days, the RSI has only hit the oversold zone threshold once.

MACD: The zero line and the MACD line moved towards each other after converting earlier. Another convergence could be expected soon if the histogram continues to blink green.

Solana 1 day:

sol 1d

Long term support was maintained at $69, a mark Solana bad hit in August. Since then the price has only steadily increased with the latest crash wiping out almost all of September’s gains.

Relative Strength Index: Solana’s daily RSI actually spiked upwards as more users bought into the ecosystem. One could hypothesize that users were “buying the dip” so that they can profit when the token rallies.

Parabolic SAR: The markers here were similar to the hourly spectrum. Solana’s price action would have to reverse to inject some bullish momentum into the ecosystem.

MACD: After converging on September 24th, both the signal line and MACD line diverged from each other. The bear sided with the indicators with the MACD histogram changing its tune to red.

XRP Stumbles Hard as Bear Rips Through Market; Multiple Alts See Double-Digit Dips

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The new week opened with a bear crunch as the cryptocurrency market saw almost all of its September gains being wiped off. As Bitcoin plummeted on Monday, the altcoin market followed suit. XRP was one of the biggest losers on the charts with the cryptocurrency dropping to 7th place.

At press time, XRP was trading for $0.91 after a 13.6 percent dip ripped through the market. The double-digit gains were also reflected in the 13.8 percent weekly price dip. XRP’s price action was similar to a lot of other alts which witnessed vertical crashes. The wipeout caused the market cap to fall to $42.5 billion, a significant 8 billion lower than Binance Coin.

XRP 1 hour:

XRP’s immediate support fell to 0.91 after maintaining a steady price action for the past 14-days. The avalanche was triggered by the formation of two massive red candles following which the support stood no chance.

Bollinger bands: The lower Bollinger band crashed towards the bottom of the graph as the cloud opened up. Losing the price hold can lead to further crunches in the market share.

Relative Strength Index: The RSI fell below the oversold zone, a sign of the depleting number of HODLers. According to the indicator, a large sell-off occurred right as the price broke immediate support.

Chaikin Money Flow: Understandably, the CMF curved below the zero lines. This meant that the capital leaving the XRP marker had overtaken the influx.

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XRP 1 day:

Long-term support was still holding the level formed in August. The $0.52 level was not under threat yet, even as the last red candle loomed ominously.

Relative Strength Index: Just like in the hourly charts, XRP’s level fell towards the oversold zone. This was in stark contrast to the highs achieved in August.

Chaikin Money Flow: The sharp decrease only added to the bearish environment as the capital was also reduced. A large push of new investors was now required to prop the graph back up.

Bollinger bands: The two bands diverged from one another as the Bollinger cloud held the potential for more growth. Currently, the latest red candle was en route falling out of the cloud.

Uniswap [UNI] jumps over bear pit as price ticks green across the board

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The cryptocurrency market’s movement over the past couple of days has left a lot of investors scratching their heads. After a week of bearish dips, the ecosystem seems to have broken its pattern of stagnant price actions. Uniswap [UNI] was one of the tokens leading the bullish charge with double-digit gains in the weekly spectrum.

Uniswap’s hourly performance allowed the crypto to overtake Terra on the chart with the token now holding 11th place. At the time of writing, UNI was trading for $24.85 as the market cap climbed to $15.3 billion. The 8 percent hourly climb also spurred the daily volume to clock a mighty $646.46 million.

Uniswap 1 hour:

uni 1hr

In the short term, Uniswap tended to form a valley after the dip and rise. The immediate support was calculated at $21.6 which was protected after the latest price hike. As Uniswap moved on the charts, it was important to keep a tab on the rising user base.

Parabolic SAR: The last 3 markers stayed below the price candles, indicating a shift in the sudden hike. This comes after a 48-hour shift where the Uniswap sided with the bull.

Relative Strength Index: Uniswap’s RSI fell back into the trading threshold after staying above the overbought zone for a day. The cryptocurrency’s September 13th hold was its highest point this month.

Bollinger band: Both the upper and lower band converged towards each other after the formation of a Bollinger cloud. The red candles continued to stay in the cloud as the price settled.

Uniswap 1 day:

uni 1 d

The long-term support was at $14.3 with the graph struggling to hit its ATH formed in May. Uniswap’s latest green candle allowed it to climb from the throes of a bear pit.

Relative Strength Index: The RSI hit the midway point between the oversold zone and the overbought zone. This meant that the number of users selling their tokens and HODLing their tokens was almost equal.

Bollinger bands: In the long run, UNI’s bands diverged to form the start of a significant Bollinger cloud.

Parabolic SAR: All the markers from the past couple of days stayed below the candles as Uniswap’s momentum shifted downwards. As it stands, the markers pointed to hold on to the cryptocurrency making any massive surges.

Uniswap and the rest of the market were still in the midst of recovery after taking a beating for days. One striking thing about the hike was that the altcoins were performing better than the bigwigs.

Solana [SOL] Switches Direction as Bear Market Dawns On New Week

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The cryptocurrency market’s fluctuations on the charts resulted in a massive pushback in terms of market cap. Over the past few weeks, virtual assets have witnessed bull runs that elevated several low-lying coins into the top echelons of the chart. Solana, which had a tremendous September start, saw its price and market cap diminish by double digits.

At press time, Solana was trading for $158.2 with a total market cap of $46.72 billion. The ongoing 12 percent price drop contributed to the daily trading volume’s fall. On Monday, $4.6 billion worth of Solana was traded across all cryptocurrency exchanges. Solana’s next competitor Polkadot was some ways away from holding a market cap of $33.812 billion.

Solana 1 hour:

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Solana’s hourly drop was evident on the graph as the latest green candles conducted their rescue efforts. Holders of the cryptocurrency looked for bullish signs which were eventually answered by three consecutive green candles.

Relative Strength Index: SOL’s RSI climbed back into the oversold zone with the graph tending upwards. As more users hold onto their assets, the RSI is expected to rise to earlier highs.

Parabolic SAR: The markers moved below the candles after the bull’s entry into the Solana market. Hourly gains need to be noted routinely to check if the momentum persists.

Bollinger bands: The upper Bollinger band and the lower Bollinger band moved towards one another after a large cloud expansion. As the candles stayed inside the bubble, it was safe to assume Solana’s price would be held up in the short term.

Solana 1 day:

sol 1 d

The latest crash seems to have wiped all of Solana’s September gains in one fell swoop. This change in the pattern comes after almost a month of meteoric gains by the seventh-placed cryptocurrency.

Parabolic SAR: The markers shifted to the top of the candles as a definite bear market took over. This was further evidenced by the creation of 5 consecutive red candles.

Bollinger bands: Solana saw the creation of the largest Bollinger cloud in its history during its all-time high formation. The new price action forced the lower band to move upwards to close the mouth of the cloud.

Relative Strength Index: After peaking over the overbought line, Solana was brought back sharply into the trading zone. This was the first clear indication of more users selling their SOL tokens rather than buying more.

Solana [SOL] Price Hike Hits Brakes As Reddish Hue Sets On Crypto Market

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Solana’s meteoric rise over the past few weeks put it on the map with a rush of new investors further elevating its market cap. The cryptocurrency seemed to ignore bearish signals earlier after SOL hit all-time highs. As the week comes to a close, SOL’s weekly gains were wiped off as it became the biggest loser in the top 10 cryptocurrency club.

In the past 24 hours, Solana witnessed a 15.2 percent dip in value as the token traded for $178.07 on Friday. If Solana’s weekly gains were compared with the rest of the market, it would ironically emerge as the biggest gainer. Solana also saw it’s daily trading volume dwindle to $9.18 billion after a hectic week on the floors.

Solana 1 hour:

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With the immediate support near the $155 mark, Solana was still some ways off from breaking it. Technical indicators showed a bearish bump in the market as the momentum shifted downwards.

Relative Strength Index: Solana’s RSI fell towards the oversold zone after a change in investor sentiments. The sudden drop pushed more holders into selling their assets.

MACD: The short term MACD crashed below the histogram as the signal line and the MACD line diverged from one another. Solana’s MACD histogram continued to blink red as the amplitude increased.

PSAR: Markers stayed above the price candles as the sentiment stayed bearish.

Solana 1 day:

sol 1 day 1

In the long term, Solana broke away from its bullish pattern after the formation of two consecutive red candles. This had happened for the first time since the end of July. Solana’s long-term support stayed near the $70 mark with indicators pointing to a slowdown.

Parabolic SAR: The markers here were below the price candles as the current bear run wasn’t enough to disrupt the strong uptrend. A third red candle formation could possibly lead the markers to jump above the candle.

Relative Strength Index: As more people bought Solana in August, the graph stayed above the overbought threshold.

MACD: The signal line and the MACD line moved upwards in tandem, signaling a bullish overturn. According to the MACD histogram, the atmosphere was still bullish for traders to jump into the market.

Solana Continues it’s Rocket Ship Ride as New All-Time High Gets Set

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Solana [SOL], has emerged as one of the biggest winners of the past week and saw massive double-digit gains. The new week started with a spark for cryptocurrencies all across the charts as prices blinked bright green. While Bitcoin was sitting pretty above the $51k mark, the altcoins were pulling their own weight by ascending.

At press time, Solana was trading for $145 with a total market cap of $42.4 billion. The spike becomes apparent when one compares Solana’s price point just a month ago. Back in August, Solana was trading for a lowly $26.6 after which the cryptocurrency saw a price and rank boost on the charts. A 43 percent weekly climb elevated SOL’s market volume to $3.143 billion.

Solana 1 hour:

  • sol 1 hr

Solana’s performance in the hourly spectrum has been consistent for the past 72 hours. Price action pointed to a cryptocurrency in the throes of a battle between the bull and the bear. SOL’s immediate support clocked in at $115 while the green candles dominated over the past day.

Relative Strength Index: The RSI dipped slightly from the overbought zone, indicating a change in holding behavior. There was no immediate reason to panic as the investors continued to remain bullish.

Chaikin Money Flow: SOL CMF climbed strongly above the zero-line to show that the capital coming into the market was more than the outflow.

Parabolic SAR: The markers holding below the price candles was a ticker for the rising momentum in the SOL ecosystem. The PSAR’s bullish lean was helped along by solid green candles.

Solana 1 day:

sol 1 day

In the long term, it was clear that SOL was hitting cruise control to set new all-time highs. The cryptocurrency’s current price point of $145 is the highest it has ever reached with indicators showing more sustained pushes.

Relative Strength Index: SOL’s RSI was above the overbought threshold, settling at its highest point ever. All-time highs have contributed to the largest influx of users into the Solana ecosystem.

Parabolic SAR: With red candles barely able to make a dent in Solana’s price action, the Parabolic SAR markers continued to stay under the graph. The markers only blinked bearish once in the last month.

Chaikin Money Flow: Solana’s CMF formed a K-shaped graph after a sudden spike in investments. The strong bullish sentiment was accentuated by the fact that the last time the CMF fell below the zero line was in the middle of July.

Hodlnaut increases Bitcoin interest rate to 7.5% APY; 2021 roadmap packed with updates with iOS App launch and token swap feature

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The cryptocurrency market’s rate of growth has required companies to keep up in terms of updates and developments. Singapore-based Hodlnaut managed to keep up with the pace and made a name for itself by releasing sought-after features that align with customer interests. Hodlnaut’s competitive interest rates make it stand out from the rest of the cryptocurrency lending platform, asserting its presence in the digital asset ecosystem.

The Singapore Fintech Association has certified Hodlnaut as a Fintech company, and this credential is recognized by the Monetary Authority of Singapore. Hodlnaut customers are asked to complete a Know-Your-Customer (KYC) process before they are allowed to deposit crypto to maintain the highest standards of user safety.

Priding itself on its convenience, Hodlnaut pays out the earned interest directly to the users’ wallets every Monday. Users can choose their payout in the preferred cryptocurrency of their choice. For those tired of contract-based partnerships, Hodlnaut is ideal as there is an absence of a lock-in period. The platform’s stellar interest rates make Hodlnaut a customer favorite amongst cryptocurrency lending platforms.

Hodlnaut’s annual compounded interest rates allow users to earn up to 12.73% APY in interest. Bitcoin (BTC) and Ethereum (ETH) hodlers can earn up to 7.46% interest while the interest rate shoots up even more for stablecoins. Holders of USD Coin (USDC) and Tether (USDT) have the option to earn up to 12.73%.

Hodlnaut Banner MediaKit 1

Their token swap service was launched in early 2021. This feature allows Hodlnaut users to swap between supported asset pairs which include BTC, ETH, WBTC, DAI, USDC, and USDT. Users can make use of this feature and directly manage their trading pairs without a two-step process and additional trading fees.

Just recently, Hodlnaut welcomed the launch of its iOS application. Users are able to deposit, withdraw and check interest statements in the palm of their hands. The company also plans to launch the Android application by the end of 2021.

Hodlnaut Rates August2021

“Our much-awaited iOS App will enable fast and transparent transactions while giving users the required information at their fingertips, enhancing the user experience of our platform,” said Juntao, CEO and Co-Founder of Hodlnaut. 

Hodlnaut’s iOS App is built by developers dedicated to providing the best application experience to its valued users. Download Hodlnaut’s iOS Application via Apple AppStore.

SEC chair claims crypto regulations should become more focussed

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The tussle between the cryptocurrency market and regulatory authorities has been ongoing since the creation of the ecosystem. With each passing year, digital assets took forward steps to enter the good books of most overwatch bodies. The United States Securities and Exchange [SEC] had been on top of crypto from the very start with its Chairman making new comments recently.

During a discussion with the Committee on Economic and Monetary Affairs, SEC chairman Gary Gensler shared his views on cryptocurrency regulations. Gensler spoke about the new avenues being opened up due to the effectiveness of financial technologies. He went on to say that the current digital revolution has the potential to become as game-changing as the internet in the ’90s.

According to the SEC honcho, the cryptocurrency world was a system that constantly chugs along 365 days a year. It was no wonder that the $2.1 trillion value market was being watched by a lot of interested parties. Pro-regulation discussion aside, Gensler also pointed out the drawbacks connected to the cryptoverse.

The SEC chair cited reports that touched on Bitcoin mining’s impact on the environment. After the revelation that Bitcoin mining generated more emissions than some countries, it was clear more needed to be done to curb the problems. This was not to say Bitcoin did not have its merits as it set the foundation for the growth of new Proof of Stake [PoS] blockchain. Gesler added that the privacy of the user was of top priority with bodies like the SEC looking out to reassure that fact.

During the meeting, the SEC official also gave his two cents on stablecoins and their impact on today’s economic climate. He pointed out that stablecoins were just a medium for people to sidestep some economic policies under other banners. Gesler asked for the committee to draw up more solid regulations that will make virtual asset transactions safer and more transparent.

Ethereum [ETH] Sparks Bull Run As Crypto Market Revels In Bull’s Glory

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After an extended period of bearish sights, the cryptocurrency market seems to have recovered to close the week on a high. Altcoins seem to be enjoying the climb even more with bigwigs like Ethereum taking the cake. The world’s largest altcoin rose by a whopping 13.3 percent in the last week as daily gains crossed the 6 percent mark.

At press time, Ethereum was trading for $3542 with a total market cap of $413.93 billion. The respectable daily hike allowed Ethereum’s trading volume to settle at $28.69 billion. The cryptocurrency market’s dominance clocked in at 19.5 percent after its market cap stood at almost 5x to that of Cardano. ADA made news after its rapid climb to eclipse XRP as the third-largest digital asset.

Ethereum 1 hour:

eth 1 hr

ETH’s immediate support climbed sporadically after it settled at the $3151 mark. The largest altcoin held its forte strong against the bear’s momentum with the indicators siding with the bull.

Parabolic SAR: The markers stayed below the price candles with the green candles outnumbering the reds.

Relative Strength Index: Ethereum’s RSI climbed above the overbought threshold which meant that more people were holding onto their tokens rather than sell it.

Chaikin Money Flow: According to the CMF, Ethereum was able to miss the zero line with the help of the bull. This was also a sign of the capital influx overtaking the outflow.

Ethereum 1 day:

eth 1 day

In the long term, Ethereum boomed upwards even when the rest of the market stagnated. The long-term support was lifted while the price action moved upwards.

Relative Strength Index: After staying near the oversold zone for a long time, Ethereum surged with the help of user investment.

Chaikin Money Flow: After it’s resurgence over the past week, ETH’s graph climbed even higher with a k-curve.

PSAR: The markers continued their hold under the movement as the bull took charge of the market. Analysts predict an increase in price if more people enter the ETH ecosystem soon.

Dogecoin [DOGE] suffers bear’s wrath as support fluctuates

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As the week drew to a close, the cryptocurrency market began leaning towards the bear. Altcoin graphs blinked green with Dogecoin [DOGE] suffering the biggest hit on Friday. The meme coin , after enjoying a bull run last week, fell by double-digit numbers as the market cap had a big chunk taken from it.

At press time, Dogecoin was trading for $0.227 while the market cap closed at lunch for $35.76 billion. DOGE’s 25 percent dip over the past week brought its daily trading volume to 2.157 billion. Sitting in the 7th position on the charts, Dogecoin still had some ways to go before overtaking its nearest competitor ie. XRP.

Dogecoin 1 hour:

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Technical indicators pointed to the cryptocurrency trying its best to level the playing field with a positive user sentiment push. Dogecoin’s immediate price support fell to $0.268 over the past 24-hours as the bull took charge of the market.

Bollinger bands- The upper band and the lower band moved parallel to each other with a lack of a strong Bollinger cloud.

Chaikin Money Flow- Dogecoin’s CMF crossed the zero line as the capital coming into the market overtook the outflow.

Relative Strength Index- The RSI was near the oversold zone which meant that more users were selling their DOGE than keep it.

Dogecoin 1 day:

doge 1 day

In the long term, Dogecoin was still in its nascent stages. Recent price actions have allowed its volatility to be showcased with its histogram interspersed with green and red candles.

Chaikin Money Flow- Dogecoin’s sideways movement put a dampener on investor sentiments with capital influx dropping to 2-week lows.

Relative Strength Index- The RSI saw an uptick after a strong push by its user base. DOGE HODLers are driven by the sentiment that the cryptocurrency will “shoot to the moon” in the coming years.

Bollinger bands: Both the band’s formed an open mouth punctuated by Dogecoin’s last bullish run.