Crypto analysts have observed a bearish trend in Solana memecoins like POPCAT and BONK as the investor sentiment is shifting towards utility altcoins in the Christmas season. Both of these coins have dropped over 40% from their recent peak as their capital is rotating to DTX Exchange (DTX).
DTX Exchange’s outstanding presale has increased the outflow from the Solana (SOL) memecoins, as this DeFi exchange presents an opportunity to be part of its utility-driven ecosystem. DTX presale has diverted the attention of all the big fish in the market with a mind-blowing $10.2 million raised in under two weeks.
Solana (SOL) Can Regain Momentum If Breaks This Resistance
The Solana (SOL) price has been affected by the crash of the memecoins within its ecosystem. According to the data from CoinMarketCap, it has decreased 15.3% from the monthly peak and is currently trading at $223. Notably, Solana (SOL) has increased 206% year-to-date (YTD), which shows its potential to recover from the losses.
Source: CoinMarketCap
On the daily time frame charts, Solana (SOL) faces major resistance at the $230 level, which coincides with the descending trendline pattern and the supply zone due to profit booking. If it breaks this resistance, the price can form a higher high (HH) and higher low (HL) pattern, propelling it to fresh ATH.
With strong community support, Solana (SOL) could recover soon. It is the third-largest cryptocurrency, and because of its utility, it is one of the prominent choices of crypto traders.
POPCAT Traders Awaiting Reversal As Bear Trend Persists
Popcat has been one of the most trending cryptocurrencies of 2024. Since August, it steadily moved in an uptrend channel and gained over 300% within two months. However, due to a sudden increase in bearish pressure near the $1.75 price level, Popcat plunged and corrected over 30% to $1.16.
The Popcat price reversed from the correction, and as it regained demand, it rose to a new ATH of $2.07. However, it encountered resistance near this level and has now fallen 50% to trade at $1.09. It has been taking support from the $1 price level. This is a crucial support level, and Popcat may reverse from it with substantial demand.
BONK Traders In Bearish Flag, Selling Pressure Building Up
In November’s bullish rally, BONK was one of the top gainers, surging 205% in a single month. However, the price crash has been similar to the surge as it has declined to a low of $0.00003251, 48% from the November peak. BONK is trading in bearish stages, building up a flag-like structure and breaking down from it. A third bear flag has formed with a $0.000035 strike level; a break from this could push BONK to a new low.
Bonk attracts attention with its strong community and plans to boost its utility through partnerships and dApps, leveraging existing opportunities. Analysts believe Bonk has the potential to reach its all-time high again, especially with Solana (SOL)’s robust technical infrastructure drawing in developers and users.
DTX Exchange Presale Success Lists DTX At the Top
DTX Exchange (DTX) has skyrocketed excitement in the cryptocurrency market, with its presale as the game-changer for retail investors. This viral platform employs a hybrid Layer-1 protocol enabling multi-asset trading on the platform, which makes it stand out in the whole trading sector. Users can access 12,500+ assets in a unified platform, including traditional assets like stocks, ETFs, and forex and digital assets such as crypto and NFTs.
This multi-utility platform has created headlines in the global crypto community as its presale has already reached $10.30 million in the sixth presale stage. According to expert investors, DTX Exchange will break all the past records in 2025, outpacing blue-chip cryptocurrencies like Solana (SOL).
As the utility-driven coin drives the bullish force, DTX Exchange (DTX) is setting the stage to shine in the competitive crypto market. Backed by advanced blockchain technology and continuous network innovations, DTX is gearing up to become the next big player in the industry with a low price of just $0.12.
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