Market capitalization cryptocurrencies: Solana, Polkadot
Investing.com – Crypto markets continued to improve over the weekend. Yesterday morning the signs were still a lush green, but in the afternoon the market began to correct. On Tuesday lunchtime, it was back below $ 46,000. On a 24-hour basis, this translates into a decline of around 1% according to Investing.com data. From a one-week perspective, on the other hand, there is an increase of 1.7%.
However, there are two cryptocurrencies in the top 10 that were completely unaffected by this correction and continued to make new highs on Tuesday: and .
Solana, now the tenth largest cryptocurrency in the world, has appreciated more than 15% in value in the past 24 hours. But the performance in the last seven days is even more impressive: the Solana price exploded by a whopping 73.50%. At $ 74.53, the competitor even marked a new all-time high this morning.
For its part, Polkadot has gained 6% since yesterday and 27% in the last 7 days. At $ 27.38, the cryptocurrency hit its highest level since June 3 this morning.
Solana in the uncharted territory
The trigger for the course rally at Solana is not an upgrade of the network, but an NFT project of the Degenerate Ape Academy in which.
In the uncharted territory, only the psychologically important mark of $ 100 defines one of the few remaining resistances. On the way to the region, only the high marked today at 74.53 can be deduced as a hurdle.
An old stock market saying goes that what rises high can of course also fall low. Of course, this also applies to Solana. The cryptocurrency could easily fall in the direction of 55 to 60 dollars without causing any major chart damage.
Investing.com’s technical outlook algorithm, which relies on moving averages and technical indicators on the 5-hour and daily charts, continues to give confidence to the Solana price.
Polkadot: $ 30 mark is within striking distance
Polkadot’s June 3rd high of $ 28 creates a short-term resistance level. If the cryptocurrency succeeds in jumping over this hurdle, the psychologically important mark of 30 dollars comes into focus. A relevant chart resistance can then be identified at $ 40 before the record high of $ 50 moves onto the agenda.
As with Solana, Investing.com’s technical outlook remains bullish on Polkadot. This applies to both the 5-hour and the daily chart.
What is Solana?
Solana is a blockchain that offers fast, secure, scalable, decentralized apps and marketplaces. Solana uses a proof-of-stake consensus mechanism with a low barrier to entry and time-stamped transactions that maximize efficiency. Solana’s website is solana.com.
What is polkadot?
Polkadot is the concept of a heterogeneous multichain and translation architecture that enables the connection of individually adapted sidechains with public blockchains. Ethereum co-founder Gavin Wood developed the protocol. Polkadot builds on previous blockchain networks and offers several elementary advantages, including scalability, an independent, shared work environment, self-management and easy upgrades.
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