After a Massive Price Drop, Are Solana & Cardano Ready to Lead the Final Phase of This Alt Season?

After experiencing sharp price declines, Solana and Cardano are beginning to show promising signs of a rebound. These two major cryptocurrencies could be on the verge of leading the final surge in the current altcoin market cycle. Market analysts observe increasing trading volumes and renewed investor confidence, suggesting that the downturn may be ending. If momentum continues, SOL and ADA might spearhead the next phase of growth in the crypto space. According to NOW Wallet, transaction volumes for SOL and ADA have increased, indicating growing investor interest.

Solana’s Price Targets $265 Resistance as Bulls Take Charge

Solana is showing signs of bullish momentum, with its relative strength index above 60 and a positive MACD level. Despite a dip of nearly 8% in the past week, the cryptocurrency remains up by almost 50% over the last six months. The current price ranges between $182 and $234, approaching the nearest resistance at $265. If the upward trend continues, Solana could reach the next resistance level at $318, which would be an increase of about 30% from its current price. Transaction volumes have notably increased, according to NOW Wallet, an all-in-one app for securely managing cryptocurrencies like Solana without custody or hidden fees.

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Cardano Faces Bearish Pressure Amid Recent Price Decline

Cardano (ADA) is facing bearish pressure as its price moves between $0.71 and $0.95, dropping nearly 19% in the past week and about 29% over the month. The short-term average price is below the long-term average, signaling downward momentum. The strength index shows neutral activity, but negative indicators suggest a bearish trend. If the price dips below the support at $0.61, it could reach the next support at $0.37. Conversely, if buyers step in, the price might target resistance levels at $1.09 and $1.32. Notably, transaction volumes have risen, according to NOW Wallet, a secure app for managing cryptocurrencies.

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Conclusion

Solana and Cardano offer unique opportunities for investors aiming to engage in the next phase of the altcoin market. Solana’s high-speed network enables rapid transactions, attracting developers and users alike. Cardano’s focus on security and sustainability makes it a compelling choice for long-term investment. For those considering these coins, NOW Wallet app is an excellent platform for transactions. Offering privacy and security without requiring registration or custody of funds, NOW Wallet simplifies crypto management. With fiat-to-crypto operations just a click away, it supports storage and instant exchanges of thousands of tokens across major blockchains. Its built-in cross-chain swapping capabilities make managing a diverse crypto portfolio straightforward.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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