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During the ongoing market correction, Solana DEX volume has plunged, raising investors' concerns about whether it will be able to reverse. The sharp decline in the Solana price is largely attributed to the crash in meme coins like BONK, and the LIBRA controversy also mounted huge pressure on it. Amid this broader market weakness, DTX Exchange (DTX) is an emerging presale project that stands out as one that might genuinely deliver.
Investors choosing long-term growth and solid fundamentals are choosing DTX because of its unique hybrid technology that is aiming to disrupt the $120 trillion online global trading market. With major altcoins losing billions since the start of the year, the spotlight has shifted to DTX’s bonus round presale. Could this new crypto succeed where giants like Solana (SOL) are stumbling?
Solana Price Support Breakdown: Measured Target Shows 50% Decline
Recent events in the cryptocurrency market have been detrimental to Solana’s price, which has fallen below the strong support level of $170. In last month’s mini-rally, SOL reached a new all-time high of $295; however, after a brief breakout, bears took control and immediately pushed it below the breakout level. Since then, the Solana price has declined by 45%, completing a bearish reversal pattern.
Courtesy: TradingView
Technical analysts call it a double-top pattern, which generally leads to a bearish trend. The Solana price formed two tops in November last year and January this year and broke the neckline of the pattern in the current fall. The depth of the pattern shows that if the trend persists, SOL might fall another 50% from the current level. The Solana price chart shows immediate support at $140, while major support is at $125.
At press time, the Solana price is trading at $159, with a 7.12% loss in the past 24 hours and a market cap of $78.32 billion. However, despite the decline, the trading volume has risen by 98% to $3.13 billion.
DTX Exchange (DTX): Imminent Rally After Listing?
Providing efficient and rapid trading solutions, DTX Exchange (DTX) is redefining the global trading market with the use of sophisticated blockchain technology. The platform merges the best of centralized and decentralized exchanges, increasing the possibilities for more than 120,000 financial assets, such as stocks, forex, cryptocurrency, and ETFs. A variety of assets on offer, traders can manage risks by spreading them across different ones and they don't have to deal with different platforms.
DTX Exchange has specifically designed the platform to accommodate both novice and experienced investors. The 1,000x leverage helps experienced traders take their portfolios to the next level, while features like a leaderboard, copy, and social trading help beginner traders learn from seasoned traders' strategies.
The hybrid protocol of the platform is powered by the revolutionary layer-1 VulcanX blockchain technology, which has broken previous records by performing incredibly in the testnet launch. The blockchain achieved an estimated speed of 200,000 transactions per second (TPS), which is among the industry's highest. This means traders can execute orders much faster than most traditional exchanges and can also save on slippage costs.
DTX Exchange has attracted a lot of interest accumulating over $15 million in 8 stages of crypto presale and, due to high demand, offering tokens at just $0.18.
Key Takeaways
While the Solana price is yet to find support and form a base for reversal, DTX Exchange has taken the market by storm with its incredibly successful presale. More investors are joining the platform because of revolutionary features, security systems, and transparency, with third-party firms like SolidProof auditing it.
Find out more information about DTX Exchange (DTX) by visiting the links below:
Disclaimer: This is a sponsored press release 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.
