The Solana price struggled to clear the $210 resistance, leading to a fresh dip like Bitcoin and Ethereum. It dipped below the $202 and $200 support levels. It even retested the $192 level, with the current low being formed at $188 before the Solana price started a recovery wave. The Ethereum price has formed a base, and a fresh move toward the $2,600 and $2,620 resistance levels has recently begun. While the Ethereum price seems to be facing hurdles near the $2,750 level, it continues to record impressive price movement with the bulls’ support.
Meanwhile, online trading is becoming increasingly more manageable but is grappling with issues. While centralized exchanges offer great liquidity, they still face major security issues. On the other hand, decentralized exchanges provide better privacy and security, but they have slow transaction speeds. By addressing such issues, DTX Exchange seeks to offer the best of both sides—a move that could lead to significant adoption and potentially challenge existing giants on the market. Let’s find these possibilities!
Solana Price Inches Toward $200: Is a Breakout Confirmation Needed?
The price of Solana cleared the 23.6% Fib retracement level of the downward move from the $209 swing high to the $188 swing low. However, Solana’s bears are active below the $200 level, protecting the 50% Fib retracement level of the downward move from the $209 swing high to the $188 low.
The Solana price, trading around the $195 level, attributes the dip to the January rise in US inflation, which gives the Federal Reserve another incentive to keep interest rates unchanged. The next significant resistance for the SOL token is near the $200 level. A successful close above this level might set the pace for another steady rally in the Solana price.
However, if the Solana price fails to rise above the $200 resistance, it could lead to more dips. Initial support on the downside lies near the $194 level, with the first significant support being near $188. Technical indicators like the RSI and MACD point to a bearish momentum.
Ethereum Price Gears Up for Gains: Can ETH Bulls Sustain The Momentum
The Ethereum price has remained above the $2,500 level while targeting the $2,600 and $2,620 resistance levels. The hourly chart broke above a key bearish trendline with resistance at $2,689. The bulls pumped the pair above the $2,700 level, as the Ethereum price traded as high as $2,794 before facing a minor pullback, dipping below the $2,750 level.
There was a move below the 23.6% Fib retracement level of an upward wave from the $2,550 swing low to the $2,794 high—the Ethereum price trades above the $2,680 level and the 100-hourly SMA. On the upside, the Ethereum price seems to be facing hurdles near $2,750. The first primary resistance for the altcoin is near the $2,780 and $2,820.
A clear move past the $2,820 resistance could send the ETH price toward the $2,920 resistance. An upside rally above the $2.920 resistance might require more gains in the coming sessions. In such a case, the ETH token could rise toward a $3,000 resistance zone or even $3,050 in the short term. Failure to clear the $2,780 resistance could start another dip in the price of Ethereum.
DTX Exchange Solves DEX And CEX Issues
Currently, traders in the online space have to choose between DEX and CEX. DTX Exchange is here to change this perspective by creating the first hybrid trading platform that combines the best of both sides. With DTX Exchange (DTX), users will experience DEX’s privacy and security backed by CEX’s liquidity and speed.
With over 120K asset classes available for trading with up to 1000x leverage, DTX Exchange is unmatched in the trading market, even against giants like Solana. These assets include crypto coins, ETFs, and stocks. Moreover, with no sign-up KYC checks, complete anonymity can be achieved, making DTX Exchange a favorite among millions of privacy-conscious traders.
The DTX Exchange ecosystem is also powered by the DTX token, which is still in its presale phases. The presale has already raised over $13.9M and could hit $15M in February. With such figures, the project has already received a pre-listing in CoinMarketCap, which could help propel the DTX price up from the current level of $0.16.
Can DTX Exchange Match Solana and Ethereum Price Movements?
The Solana price has slipped below its crucial $200 level as the broader market remains red. To regain its bullish outlook, the Solana price has to reclaim this level or could record more dips toward the $194 level. Ethereum also aims to surpass key resistance levels that could trigger a rally towards the $3,000 level. DTX Exchange, on the other hand, offers many benefits to DTX token holders. The recently introduced VIP rebate system allows users to become DTX Exchange partners while gaining as much as 3% on daily trading profits, aimed at attracting more investors to the platform.
Find out more information about DTX Exchange (DTX) by visiting the links below:
