After consolidating at $15 almost the whole of last week, Solana (SOL) support started weakening before the end of the weekend. As of this writing, SOL was trading at $12.66. During the same period, Cardano was dumping, while Bitgert (BRISE) and Centcex (CENX) maintained a stable price.
The crypto market has been on a downtrend, and crypto analysts say a number of factors might push marketcaps down further this week. The FED November meeting is happening this week, where the rates are likely to be increased by about 75% for the next 30 days. This will impact the whole stock market, where Solana and Cardano will be some of the affected assets.
Solana (SOL) price started tanking after the FTX coin started collapsing. The association that Solana has had with FTX and Bankman-Fried over the years was the reason why the coin was largely affected by the FTX crash. In fact, SOL has been one of the assets referred to as 'Sam's coin.'
Solana investors feared that Alameda withdrawing its $SOL holdings, which is about 10% of the SOL marketcap, would wobble the coin. To avoid losses, investors released their holdings, and the cascading effect has brought Solana down to $12.66 as of writing.
The market still looks bearish, and Solana might drop further this week. It might touch $10 before the end of this week. The Cardano coin was down 6% at the time of this writing. With the FED meeting expected to trigger selling pressure, we are likely to see the coin post a decline in the next few days.
The price performance for these coins has been impressive, and they have maintained stable growth last week and also this weekend. Bitgert (BRISE) and Centcex (CENX) are two coins that have managed to withstand the crashing markets this year. These coins have, in many cases, posted a pump in the bear market.
If the raising of the rates by FED will trigger selling pressure in the market, then we are looking at Bitgert (BRISE) and Centcex (CENX), maintaining the stability they have posted over the last few weeks.
Crypto analysts also predict that Bitgert (BRISE) and Centcex (CENX) might post a pump in the next few days due to the adoption of their products. Bitgert has also released many new projects and partnerships recently. So, BRISE and CENX might be some of the best performers and a good buy today.
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