Price Analysis: SOL, TON, ADA, and ATOM Identify Next Movements
- Bullish invalidation suggested that SOL could drop to $159.50.
- TON’s price might climb to $6.75 while the death cross on the ADA chart indicated a possible decline to $0.43.
- Money flowing into ATOM increased, suggesting that the price might hit $8.74.
Despite a few days of upswings in the market, many altcoins ended up with a decline in the last seven days. According to CoinMarketCap, some of those affected include Solana (SOL), Toncoin (TON), Cardano (ADA), and Cosmos (ATOM).
However, projections suggest an altcoin season could be on the horizon following the approval of Ethereum spot ETFs later next week. Here’s an analysis of these four tokens regarding their short-term performances.
Solana (SOL)
Earlier in the week, there were predictions that SOL might hit $200. However, the token failed to achieve that, reaching a ceiling of $189 before the upswing reversed.
According to the 4-hour SOL/USD chart, the 20 EMA (blue) had crossed over the 50 EMA (yellow) since May 15. This was vital to the SOL’s uptrend. While the positions remained the same as of press time, SOL’s price remained below both EMAs, suggesting that the bullish thesis was getti…
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Price Analysis: SOL, TON, ADA, and ATOM Identify Next Movements
- Bullish invalidation suggested that SOL could drop to $159.50.
- TON’s price might climb to $6.75 while the death cross on the ADA chart indicated a possible decline to $0.43.
- Money flowing into ATOM increased, suggesting that the price might hit $8.74.
Despite a few days of upswings in the market, many altcoins ended up with a decline in the last seven days. According to CoinMarketCap, some of those affected include Solana (SOL), Toncoin (TON), Cardano (ADA), and Cosmos (ATOM).
However, projections suggest an altcoin season could be on the horizon following the approval of Ethereum spot ETFs later next week. Here’s an analysis of these four tokens regarding their short-term performances.
Solana (SOL)
Earlier in the week, there were predictions that SOL might hit $200. However, the token failed to achieve that, reaching a ceiling of $189 before the upswing reversed.
According to the 4-hour SOL/USD chart, the 20 EMA (blue) had crossed over the 50 EMA (yellow) since May 15. This was vital to the SOL’s uptrend. While the positions remained the same as of press time, SOL’s price remained below both EMAs, suggesting that the bullish thesis was getti…
The post Price Analysis: SOL, TON, ADA, and ATOM Identify Next Movements appeared first on Coin Edition.
Read More