Solana price eyes a return to $120 as confidence in SOL fades
Solana price continues to face some strong technically and fundamentally bearish scenarios. In addition, concerns about Solana’s network stability and scalability remain. Those concerns continue to weigh in on the bearish price action ahead.
MATIC on the march to $3 but must hold this support zone or face strong selling pressure
MATIC price action has fallen below the rising wedge for the second time in January; the first occurrence was on January 8. The Kijun-Sen is the final support zone, and if it fails, MATIC could drop 20%. MATIC price has some very imminent looking bearish price action ahead while the recent fundamentals are bullish.
Dogecoin liquidity deepens as DOGE goes live on Thorchain
Thorchain announced earlier today that the Dogecoin liquidity pool is live on the decentralized liquidity network. As on-chain activity would increase, the deep liquidity fuels a bullish narrative for Dogecoin price.
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Bitcoin trades just above $57,000 on Tuesday after gaining almost 4% on Monday, buoyed by mild ETF inflows, increasing whale buying activity during price dips, a long-to-short ratio above one, and increasing stablecoin holdings on exchanges.
Solana on-chain metrics suggest rising activity and declining fees, supporting bullish outlook
Solana on-chain activity shows signs of growth in the last thirty days. Daily active addresses grow threefold, rising to 3.11 million on Monday. The number of new addresses on Solana in the first ten days of September is more than half of that registered in August for the entire month.
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Rocket Pool surged more than 23% as Binance announced a perpetual contract listing on Monday. At the time of writing on Tuesday, it trades slightly up at $11.74. This bullish event is further supported by RPL’s rising open interest, which indicates new buying activity in the market.
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