- FTX, a bankrupt crypto exchange, is looking for the green light to liquidate $3.4 billion in cryptocurrencies with potential cascading impacts on Solana (SOL), Dogecoin (DOGE), and Aptos (APT).
- SOL risks breaking a 256-day support, DOGE faces potential breakdown from its $0.060 support, while APT nears its annual lows.
Solana (SOL) Navigates a Critical Support Crossroads
Solana’s price trajectory has shadowed an ascending support line since the onset of the year, peaking at a yearly high of $32.13 in mid-July. However, recent trends show the price dropping and testing the support line, having touched $17.36 on September 11th. This line, holding for 256 days now, is critical in indicating SOL’s future direction.
The daily Relative Strength Index (RSI), a momentum metric used by traders to gauge market conditions, hints at a bearish turn for SOL. With values below 50 suggesting bearishness, SOL might experience a 20% fall to $14 if the current support line fails. However, if it holds strong, SOL has the potential to rise by 50%, approaching a resistance at $27.
Dogecoin (DOGE) – A Battle of Supports and Resistances
DOGE’s trajectory has been a story of rises and falls. Following a promising upward trend that began in June, the coin broke its support line in mid-August, bottoming out at $0.055. The resilience of DOGE was on display as it swiftly recovered to the $0.060 support. Yet, resistance at the $0.066 level (determined by the 0.382 Fibonacci retracement) has once again pushed the coin back to its $0.060 support.
A bearish RSI pattern suggests that if DOGE does not hold its current support, it could witness a 12% dip, touching its annual low at $0.053. A resurgence in momentum might propel it towards the $0.070 resistance level.
>> Buy Bitcoin quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with BTC now. Visit Website <<
Aptos (APT) Treads Near Its Lowest
After scaling its peak at $20.40 in January, APT has seen a gradual decline. The coin momentarily found solace at the $5.80 support, but September witnessed a breach of this stronghold. The bearish sentiment, reflected in the daily RSI, does not hint at any immediate bullish turnaround for APT.
APT’s current trajectory suggests a possible 35% plunge, which would take it to its annual low of $3.30. However, any bullish reversal might propel it to retest the $5.80 resistance, a level it once found comfort in.
Best Crypto Exchange for Everyone:
- Invest in Bitcoin (BTC) and 70+ cryptocurrencies and 3,000+ other assets.
- 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
- Copy top-performing traders in real time, automatically.
- Regulated by financial authorities including FAC and FINRA.
2.8 Million Users
