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After suffering a major price correction that began in December, experts believe that Ethereum (ETH) has bottomed out. The popular crypto figure, Ted, has said that the Ethereum price is destined to peak above $10,000 in this bull market.
On the flip side, one of the top 10 altcoins, the Solana price has been on a steep decline, dropping to the $160 range. As a result of the decline, more than 600,000 investors have jumped to DTX Exchange (DTX), a new altcoin that has pumped by 800% through the recent market correction.
Since the Ethereum price was rejected at the $4,000 resistance in December, the leading altcoin has been on a decline. As a result of a market-wide correction, the Ethereum price plunged to the $2,400 support level this month. However, analysts believe the crypto market is still in a bull season.
The Ethereum price has bounced back to the $2,700 level, with some experts suggesting the bull run has resumed. CryptoGoos shared that the Ethereum crypto has formed a double-bottom; a bullish pattern that could mark the continuation of the uptrend. In another tweet, the analyst shared that the Ethereum price pump has begun.
Another analyst who shares a similar sentiment is Ted. According to Ted, the Ethereum price is destined to trade above $10,000 in this bull market. Ted shared some reasons why the Ethereum price could rally that high, including that it has the highest TVL and stablecoin liquidity, growing institutional accumulation, and a lower inflation rate than Bitcoin.
Among the top 10 altcoins, Solana (SOL) has suffered the biggest decline. Since setting a new ATH of $293 in January, the Solana price has plunged by more than 42% and trades in the $160 range. While CoinMarketCap’s data shows that the Solana price is attempting to break above $170, analysts are uncertain about its future performance.
A major reason for the growing bearish sentiment about Solana (SOL) is its upcoming unlock. Crypto General explained that the recent Solana price plunge can be linked to the $2.5 billion unlock coming in March. The massive amount of $SOL tokens to be pushed into the market is the reason why the Solana price could continue declining.
On the 1D Solana price chart, the analyst marks $155 and $133 as two key support levels to watch. If the Solana price drops below these levels, it could return to $120 or as low as $100. However, the chances of this happening are slim as the Crypto General explained that the macro trend for $SOL is still bullish, and the altcoin price could increase in the long term.
While the rest of the crypto market has been on a decline, the price of the DTX Exchange (DTX) coin has been surging. Through this recent crypto market correction, the DTX price has surged by 800% to reach $0.18. Because DTX has outperformed the top altcoins, including $SOL and $ETH, it has onboarded over 600k investors and traders who have helped the project raise over $14.8 million in presale funding.
The reason for the massive interest in DTX Exchange is that it is the first crypto exchange that has full support for the TradFi market. On DTX Exchange, traders can use their crypto accounts to trade stocks, ETFs, forex pairs, metals, bonds, ETFs, and other commodities.
This unified trading experience created by DTX will solve the problem of fragmentation between the DeFi space and traditional finance. One of the main benefits of DTX Exchange is that it has a large order book, which means that there will be little slippage when trading. In addition to this, DTX has advanced trading tools designed to meet the needs of different traders.
While DTX has outperformed Solana (SOL) and Ethereum (ETH) in the last two months, experts predict that this trend will continue. One reason for this is that DTX Exchange operates in a $690 trillion market. This also gives the DeFi project room for mass adoption. Lastly, DTX has a lower market cap than SOL and ETH, giving it the opportunity to be the next 20x altcoin.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. 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. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
