Note: This article should not be considered financial advice. The information and materials presented here are intended for educational purposes only.
October is looking favorable for altcoins, but Solana and Near may experience corrections. DTX Exchange is drawing in significant investments from whales looking for profits.
Historically, October has been a month marked by bullish price movements, and analysts are hopeful for a repeat this year within the altcoin sector. Nevertheless, a brief correction is anticipated for major cryptocurrencies such as Solana (SOL) and Near Protocol (NEAR) before establishing a clear price trend this month.
Following last week’s gains, prices for Solana (SOL) and Near Protocol (NEAR) have reverted back to prior levels, with investors opting to sell their tokens for other potential opportunities or to realize profits and re-enter the market at lower prices. DTX Exchange (DTX) has emerged as a notable cryptocurrency, demonstrating consistent performance while attracting large-scale investments from whales aiming to maximize returns during this bullish phase.
Solana’s Downside: $120 Support Level on the Horizon
Solana has distinguished itself as a top contender in the expanding crypto market over the past few months, boasting notable gains. However, the onset of October has proven challenging for SOL, as intense selling pressure has caused its value to plummet by 7.4% in a single night, resulting in a loss of the vital $145 support level.
Forecasts suggest that Solana may be severely affected by the current bear market, potentially plunging down to the $120 mark. While there is a possibility for a rebound, particularly given the historical bullish trend in Q4, investors are likely to wait for a local bottom to re-enter in Solana (SOL) should RSI and other bullish indicators signal improvement in the weeks ahead.
Near Protocol Sees 8.8% Price Decline Amid Outflows
Near Protocol experienced a breakout towards the end of September, spurred by positive developments surrounding NVIDIA stocks and its sharding technology implementation. Despite the buoyant community sentiment, profit-taking in other leading cryptocurrencies has led to a downtrend for NEAR, resulting in the price falling below the $5 support level.
The bullish momentum has yet to re-establish itself, and analysts anticipate a mid-term bearish outlook for Near Protocol. Following an 8.86% drop over the last 24 hours, NEAR may approach the $4 support level if bearish trends persist and lack adequate whale support in the immediate future.
DTX Exchange Emerges as a Leading Player Following VulcanX Debut
DTX Exchange (DTX) has positioned itself as a standout player in the 2024 crypto market, leading the presale sector with its innovative technologies and unique features, aiming to launch a cutting-edge trading platform equipped with comprehensive solutions. After achieving an impressive 10,000 TPS during testnet performance, the project is set to become the largest exchange gearing up for launch.
The strong global interest in DTX Exchange enabled it to secure an astonishing $3.5 million during batch 3 of its public presale. The platform will host over 120k digital assets spanning stocks, cryptocurrencies, forex, and equities, with leverage options up to 1000x. This groundbreaking approach is encouraging traders to invest significantly in DTX Exchange to leverage substantial returns alongside passive income strategies.
DTX Exchange features state-of-the-art blockchain technology, boasting a transaction speed of 0.04 seconds, a hybrid design, and minimal gas fees via VulcanX protocols. With trading APIs, real-time market analysis, and AI-driven automation strategies, traders are drawn to DTX tokens priced at $0.06 before their anticipated surge to $1 post CEX listings by the end of 2024.
Conclusion
DTX Exchange is swiftly surpassing competitors like Near Protocol and Solana, thanks to its innovative technology and exceptional testnet accomplishments. Amid overwhelming selling pressures for leading cryptocurrencies, DTX Exchange continues to capture significant interest from large investors. With 75% of the presale batch 3 already sold, investors are seizing this opportunity to get in early and secure substantial returns in 2024 following the mainnet launch of DTX Exchange.
For further details, visit the DTX Exchange presale website or join the online community.
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