The cryptocurrency market has witnessed mixed sentiments, with Solana’s triumph being short-lived. SOL coin appears to be nearing its limit in the ongoing bullish cycle and is struggling to stay above the $200 support level. On the other hand, sturdy cryptos are gaining more momentum. Avalanche (AVAX) has attempted to start a recovery as the bulls aim to drive and maintain its price above the 20-day EMA at $43.26.
Meanwhile, Lunex Network (LNEX) has been riding high on optimism due to recent developments. The fast-selling presale star has already raised over $5.5 million in revenue and delivered over 300% ROI to early adopters after a price surge to $0.0049, with another surge anticipated in the coming days. The key driver behind this bullish momentum is its standout cross-chain capabilities and trader-focus features.
Lunex Network has quickly gained ground in the crypto market due to its intuitive DEX platform, tailored for novice and veteran traders. Regardless of skill level, Lunex users benefit from the platform’s superior interoperability, which supports buying, selling, and swapping of over 50,000 crypto assets across 40+ blockchains with the best possible prices. This cost efficiency offers traders a competitive advantage over platforms, making Lunex stand out in the DeFi market.
For traders looking for advanced trading tools, Lunex Pro offers exceptional features and perks like cashback on each transaction and AML wallet checks. In addition, its standout revenue share model offers steady passive income to LNEX holders. The platform will use a percentage of its revenue to buy back tokens from the open market and redistribute them to its holders. This will encourage long-term holding and foster sustainable growth as adoption increases.
Beyond trading, Lunex offers valuable solutions to businesses and developers. Businesses benefit from features like the merchant payment gateway, which allows them to accept crypto payments. Meanwhile, developers can leverage 65+ RPC nodes to streamline the creation of decentralized applications (dApps).
Solana crypto appears to have run its course in the ongoing bull cycle. Per CoinMarketCap data, Solana’s trading volume saw a massive decline suggesting a loss of investors’ confidence. This has halted SOL’s quest to retest new highs. The downside spiral has fueled instability and limited chances of rebounding to previous levels. The low trading volume has made the possibility of a SOL price retracement difficult.
Notably, a shift in trading volume is crucial for Solana's price to break the $200 resistance level. Despite recording an ATH in the daily transactions, the SOL token has not rallied. Moreover, the rise in daily transactions was not accompanied by a corresponding uptick in active addresses. The failure of Solana (SOL) to reach new highs can be due to a shift in investor interest.
Traders appear to seek the next profit-taking opportunity to invest and rake in gains while the bull momentum lasts. This has heightened SOL selling pressure. However, per Henrik Zeberg's insights, the Solana price could still be in a consolidation phase and be on track to break out soon. The $200 resistance level remains a crucial zone determining the altcoin’s next big move.
The Avalanche network has made groundbreaking developments, including the remarkable Avalanche9000 upgrade. The bullish news triggered investor interest, which caused an uptick in its price metrics. However, due to the broader market’s downsloping trends, the Avalanche price has pared off some of its gains. It has struggled to hold gains above the $45.00 level. Notably, the token could be on track for a recovery.
Avalanche (AVAX) has attempted to start a recovery but closed below the 50-day Simple Moving Average (SMA) at $40.75 after the bears successfully thwarted the bulls' attempts on December 21. For now, the price of Avalanche trades below the 20-day Exponential Moving Average (EMA) at $43.52. AVAX’s Relative Strength Index (RSI) has also been in the negative zone, suggesting that the bears are still in command.
If sellers continue to sink the AVAX price below $33.60, it could decline to $30.50. However, if the AVAX bulls make a comeback, it could steer the altcoin price toward the 20-day EMA at $43.52. A breach above this point could set the stage for more rallies towards the $51 and $56 overhead resistance zones.
While Solana (SOL) faces uncertainty, Lunex and Avalanche emerge as promising alternatives. So far, $LNEX is available at $0.0049, a huge discount from its launch price of $0.0216 making now an excellent time to acquire . With its comprehensive feature set, cutting-edge technology, and trader-centric benefits, Lunex Network remains among the best cryptos.
Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!
Website: Lunex Network
Telegram: Join Our Telegram Community
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.