Recent days have seen significant changes in the cryptocurrency market. Solana and Cardano face pressure while Cold Wallet demonstrates positive results.
Solana Nears Critical Support
Solana (SOL) is showing signs of weakness with a descending triangle setup, which could lead to a 10% dip if the $160 mark breaks. Currently priced around $163, signals lean bearish. A drop below this level could push it towards the $153 mark. The market shows $18.6 million in net outflows, indicating that larger players are cautious.
Cardano Faces Risk of Price Decline
Cardano (ADA) is also showing weakness as the price has slipped below $0.74. Analysts predict a slide towards $0.53. Exchange data indicates fewer coins leaving platforms, reflecting reduced trader confidence. A significant portion of active positions are short, adding downward pressure.
Cold Wallet's $270M Acquisition Resets Wallet Market
Cold Wallet's acquisition of Plus Wallet for $270 million has instantly added over 2 million users. The new cashback model, where users earn rewards for each transaction, creates a competitive advantage. Currently, over $5.9 million has been raised in presale, highlighting growing interest in the project.
With Solana and Cardano under pressure, Cold Wallet emerges as a promising project demonstrating growth and user interest. Market conditions may shift, making it essential to stay informed on developments.
