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Solana’s price declined by 7% from $225 to $206 on November 12, ending its seven-day rally that saw SOL briefly become the third-largest cryptocurrency by market capitalization. However, its technical structure indicates the altcoin could avoid slipping below its crucial support level of the $200 mark following the Binance listing of two newly launched meme coins hosted on the Solana Network.
Tron’s price broke above an ascending triangle formation during the same period, indicating a potential rally continuation. Meanwhile, Lunex Network is rapidly gaining traction at its presale after raising over $2.2 million, with a 75% price appreciation. The main driver behind this bullish momentum is its aggregation protocol and the live claim function, which have heightened investor interest.
Lunex’s Claim Function Becomes Live
Lunex Network (LNEX) has gained ground in the broader crypto market as more investors discover its unique solution, solving inherent issues in the DeFi space. It has enhanced user experience by removing third-party wallets like MetaMask and KYC verifications. Users can quickly choose from 50,000+ crypto pairs, enter their recipient’s wallet address, and complete transactions within seconds, eliminating losses from missed opportunities.
Outside its trading platform, Lunex has a B2B payment gateway where companies can accept cryptocurrency payments and convert them into fiat currency. Additionally, it offers real passive income opportunities alongside the potential for the token’s value to rise. Ideally, the platform has a revenue share model where a portion of its revenue from trading and subscription will be used to buy back LNEX tokens from the open market.
These repurchased tokens will then be redistributed to holders who have staked LNEX. So far, Lunex is available at $0.0021 from its initial offering of $0.0012. The buzz around this new crypto is evident from its growing community and successful presale. With a smooth cross-chain trading experience and passive income opportunities for users, Lunex could become a solid contender in the DeFi market.
Solana Seven-Day Rally Comes To A Halt
The global crypto market has seen an uptrend fueled by positive tailwinds from Donald Trump’s re-election. After rallying for seven days, Solana hit two significant milestones, including its market capitalization, which breached the $100 billion mark for the first time in three years. The altcoin emerged as one of the best-performing mega-cap digital assets to briefly become the third-largest cryptocurrency by market cap.
However, the seven-day rally has been halted due to profit-taking behaviors among BTC traders, causing cascading liquidations across the altcoin market. The Solana daily chart indicates that its value rose by 43.9% from its $156 high on November 5 to a three-year peak of $225 on November 12. Following the broader market trends, the price of Solana has declined towards the $212 range.
While its RSI reflects overbought conditions that could heighten the risk of prolonged correction, on-chain data highlights increased demand for Solana-based meme tokens, which could absorb sell-side pressure in the short term. The Binance exchange announced the PNUT and ACT listing, which has offered SOL bulls a lifeline.
TRX Price Forecast: Double-Digit Gains On the Cards
The Tron token has also seen significant gains, surging by 9% in the past week. On-chain technical structures indicate that the price of Tron is on track for a bullish reversal pattern known as the rounding bottom. This chart is usually interpreted as the bottoming of a downtrend as investors show regained buying interest. With the said pattern in mind, buyers must challenge the all-time high resistance level of $0.
This will better confirm a bull market. In addition, TRX’s price has broken above the ascending triangle formation, which further aligns with this bullish sentiment. This indicates that the Tron coin will likely record double-digit gains as the crypto rally continues. With this view, analysts expect the price of Tron to cross the $0.17 mark in the coming days.
If the TRX token surpasses this level, it could trigger additional gains, increasing the altcoin price to $0.3. On the flip side, if the token fails to cross over this mark, it could drop to its 50-day simple moving average at $0.15967. In any case, the momentum around TRX is bullish as its 14-day relative strength index is above the 50 mark, which indicates that the bulls are still in charge.
Best Tokens To Buy
The crypto market is in an exciting new phase as Tron, Solana, and Lunex Network prepare for higher breakout performances. Investors seeking high returns and reliability in DeFi should consider these top altcoins.
Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!
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