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HomeNewsSolana and Polkadot Still Rising, Bitcoin Corrects Rise By Investing.com

Solana and Polkadot Still Rising, Bitcoin Corrects Rise By Investing.com




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Market capitalization cryptocurrencies: Solana, Polkadot

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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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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