Banking giant Standard Chartered predicts that solana could experience a significant surge of up to 400% if Donald Trump wins the 2024 U.S. presidential election. The bank’s head of digital assets suggests that solana’s faster transaction speed and support for decentralized applications position it well in a crypto-friendly environment. Standard Chartered Predicts Solana Surge if
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‘Cardano Isn’t Dying’: Charles Hoskinson Defends Project Amid ADA Price Criticism
Cardano founder Charles Hoskinson took X to defend the project from its detractors, arguing that the network has continued to grow and thrive despite the criticism. As ADA’s price falls 2.9%, some analysts warn of the next key level to watch out for. Related Reading: Worldcoin Drops 6% Amid Alameda Research 1.5 Million Token Sale, Will WLD Price Hold? Charles Hoskinson Defends Cardano On Thursday, Charles Hoskinson addressed the adverse response towards Cardano in an X post. Hoskinson noted that the crypto community’s sentiment about the project has lately been more negative than usual. However, he argued that Twitter’s sentiment change isn’t a reflection of the project failing “but rather the desired result of Voltaire.” Cardano’s “Voltaire” era is set to turn the network into “the most advanced blockchain governance system,” focusing on decentralized governance and its future sustainability. Hoskinson believes that Cardano’s collaborative efforts and the transparency of the network is what sets it apart from the rest of the crypto space. “It’s why we are loathed by a lot of others. Their backroom deals and dirty tricks can’t be hidden because there is no one to ask to do it under the table,” he added. In the post, the project’s founder also underscored Cardano’s “passion” for integrity and long-term vision for growth and progress: Short-term thinking, market manipulation, and companies seeking a handout have no role or place here. That’s the difference that makes a difference. Lastly, Hoskinson remarked that the project is not dying but “thriving and growing.” He that ADA is one of the last cryptocurrencies still wanting to be a real crypto instead of “the patron of Blackrock and Wall Street for number go up preferences.” ADA Could See A 10% Drop Soon The crypto community reacted to Hoskinson’s message, with many arguing that, regardless of the developments, the Network’s “lack of volume” and “limited” ecosystem growth remains a problem for its community. Meanwhile, part of ADA’s community agreed with Hoskinson, concurring that “it is the only chain that has truly built what I can only see as the groundwork to deliver on the promise of crypto.” Despite the ongoing criticism, some market watchers remain bullish about ADA’s future price action. Crypto analyst Dan Gambardello recently predicted that the cryptocurrency will “easily” reclaim the $1 mark before year’s end. To Gambardello, the exponential surge “could happen fast” and leave many “flabbergasted.” Additionally, he stated that after the 200% surge, ADA’s potential targets of $5 and $10 would “look more realistic.” Related Reading: Experts Discuss What Made Solana Memecoins The Cycle’s Top Narrative Conversely, crypto analyst Sebastian warned about a key level to watch for following ADA’s recent performance. Earlier this week, the analyst highlighted that ADA showed signs of a breakout after retesting the trendline it had recently broken above $0.35. However, the cryptocurrency’s price dropped 2.9% in the last 24 hours, falling below the $0.34 mark. The analyst signaled that ADA must hold the current levels as failing to bounce from the $0.335 level could send the token to a retest of the $0.30 support level. As of this writing, ADA is trading at $0.337, a 1.95% and 2% decline in the weekly and monthly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com Bitcoin.com
Ethereum Price Targets a Comeback: Will the Bounce Last?
Ethereum price extended losses and tested the $2,320 support. ETH is now correcting losses and might aim for a fresh increase above the $2,420 resistance. Ethereum remained in a bearish zone and traded below the $2,360 zone. The price is trading below $2,420 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,350 support level to start decent increase in the near term. Ethereum Price Aims Upside Break Ethereum price failed to start a fresh increase above the $2,450 resistance zone. ETH remained in a bearish zone like Bitcoin and traded below the $2,365 support zone. There was also a move below the $2,350 level. The price tested the $2,320 support zone. A low was formed at $2,329 and the price is now rising. There was a move above the $2,350 and $2,365 levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $2,468 swing high to the $2,329 low. Ethereum price is now trading below $2,420 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,420 level. There is also a connecting bearish trend line forming with resistance at $2,420 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward wave from the $2,468 swing high to the $2,329 low. A clear move above the $2,420 resistance might send the price toward the $2,450 resistance. An upside break above the $2,420 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,500 resistance zone in the near term. The next hurdle sits near the $2,550 level or $2,560. More Losses In ETH? If Ethereum fails to clear the $2,420 resistance, it could start another decline. Initial support on the downside is near the $2,380 level. The first major support sits near the $2,350 zone. A clear move below the $2,350 support might push the price toward $2,320. Any more losses might send the price toward the $2,265 support level in the near term. The next key support sits at $2,220. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,320 Major Resistance Level – $2,420 Bitcoin.com