On Monday, the SOL price slumped from $238.5 to the low of $220, marking a decrease of 7.73% in a single day. This bearish pressure in Solana built up after the breakout failure in memecoins, which has been the highlight of the Solana ecosystem in recent weeks. This degrowth in revenue led to bearish momentum in SOL price, breaking the bullish trend.
Solana and Memecoin investors are heavily shifting to DTX Exchange (DTX) as it marches towards launch. On Tuesday, the DTX token price increased from $0.1 to $0.12 in the sixth stage, but experts still analyze it as highly undervalued due to the coin’s future growth.
SOL Price Breaks 20-Day Moving Average, What’s The Next Support Level?
From the start of the trend on 5 November, the SOL price has never traded below the short-term moving averages of 10 and 20 days; however, in the recent decline, it has broken down the 20-DMA. The SOL price volume on the breakdown increased over 100%, showing higher seller participation in the decline. This selling in SOL price is natural because it has been trending for a month and needed pullback to cool down.
Currently, the $220 zone is working as a support level for the SOL price. It has been a resistance level in the past but is now a demand zone for the price. If this level fails, then the major support of $200 could be the next setting price.
Solana Millionaire Diversifies Into DTX Exchange Targets 200X Gains
Many Solana HNIs have a smooth gain curve in this bull market and are diversifying their major portfolios into high-growth potentials like DTX Exchange. This project has garnered the attention of investors with a record presale; it raised over $9.32 million within six weeks of the launch, selling most of the DTX tokens.
The demand for DTX Exchange has robustly increased due to the rapid developments in the ecosystem. It has an all-in-one trading platform that provides diverse portfolio diversification asset selection and increases buying power with 1,000x leverage. The exchange’s speed is another standout, with 0.4 millisecond order execution power.
The DTX Exchange blockchain was already tested in the recent Testnet launch, which resulted in a remarkable performance, achieving 10,000 transactions per second. SolidProof, one of the top audit firms, has audited the security and KYC of DTX Exchange.
DTX is the native token of DTX Exchange, and token holders will get many rewards and decide the ecosystem’s future through decentralized governance. Another interesting benefit of the DTX token is that holders will have to pay a reduced trading fee on the platform, which is paid by DTX tokens.
In the sixth stage of the presale, the DTX Exchange token price surged 500% from $0.02 to $0.12. With the launching price set at $0.2, DTX’s trajectory indicates remarkable potential.
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