In the first quarter of the year, Solana (SOL) was constantly in the mouth of investors, as the token outperformed Bitcoin, Ethereum, and most of the crypto market. The second quarter has been a different story, with multiple bear markets, the last shaving almost 40% off of Solana’s (SOL) market value.
The market has now recovered from its recent losses and investors are seeking to find out if there’s a road back to recovery for Solana. In other crypto market news, the price of Tradecurve (TCRV), a new project disrupting the crypto trading space defined the bearish sentiment of the crypto market, with its native TCRV token gaining 20% on the 7 days chart.
Solana (SOL) Stabilizes After Huge Dip, A Long Road to Recovery?
After the United States Securities and Exchange Commission (SEC) listed Solana as a security, the price of SOL tumbled by 42% within one week. However, Solana (SOL) has now managed to stabilize the market after finding critical support at the $14 level. Solana (SOL) is now pushing for a comeback but still trails its all-time and 2023 highs.
A Long Road Back to Recovery for Solana?
In February Solana (SOL) traded as high as $27.12, approximately 75% higher than its current price of $15.71. For Solana to rally back to this high, the coin would need to break the resistance at $16 before looking to trade as high as $18. If Solana (SOL) manages to clear this level, the price of the token would look to test the resistance at $22.
These resistance levels mark significant points of interest for Solana investors. For the price of the token to reach these highs, Solana would need a major catalyst. Waiting for the broader crypto market to rally is another option. So far, Solana has the potential to reclaim its lost highs, but a significant amount of time or a major development is needed for the rally.
Tradecurve Up 30%, Can it Maintain the Bullish Momentum?
While cryptocurrencies struggled under regulatory pressure, one altcoin that managed to defy the bearish sentiment of the market and rally is Tradecurve. On the seven-day chart, the price of Tradecurve (TCRV) has increased by 20%, making it one of the best-performing digital assets within that period.
The secret behind TCRV’s strong market performance during the bearish market has been an influx of new traders and investors into the Tradecurve project. Investors and traders are hyped about Tradecurve as the project is building a platform that will offer them their first opportunity to trade both derivatives (like stocks, forex, options, and commodities) and cryptocurrencies from a single account.
The goal of Tradecurve is to unify the trading space so traders no longer need multiple accounts on different platforms to achieve their trading aims. Traders are also particularly interested in Tradecurve because the platform supports anonymous trading, unlike most crypto exchanges.
So far, thousands of the community have joined the Tradecurve campaign. Tradecurve is currently in the fourth stage of its presale, while its TCRV token now sells for $0.018 per token.
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