Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Here’s What’s Next for Solana (SOL) and Red-Hot Altcoin STEPN (GMT), According to Crypto Strategist

by Daily Hodl Staff
May 8, 2022
in Altcoins, Trading

A closely followed crypto analyst is outlining what’s ahead for Ethereum rival Solana (SOL) and move-to-earn protocol STEPN (GMT).

In a strategy session, DonAlt warns holders of smart contract platform Solana that SOL looks bearish on the high timeframe charts after converting weekly support at $140 into resistance.

According to DonAlt, the price action suggests that SOL is at risk of losing half of its value.

“Solana legitimately looks like the altcoins did in 2018. You have the perfect bearish retest… and then you realize the next support that you have, if you toggle the weekly [chart], is that $47, which is 50% down. That’s the nearest support that I have and then it starts getting scary.” 

Source: DonAlt/YouTube

At time of writing, Solana is changing hands for $76.84.

Another coin on the trader’s radar is STEPN, the walk-to-earn project whose GMT token has significantly corrected after enjoying parabolic rallies in recent weeks. According to DonAlt, he expects GMT to go through a period of wild volatility in the coming week that would present a prime buying opportunity for the bulls.

“I honestly can see [GMT] close at this level this weekend. And then next week wipe out big time and reverse it all back again like towards the end of the week. That would be a really, really good trade where you close where we are right now [at] $2.40, maybe at $2.25, and then you wick down to $1.50 or $1.00 during next week if something crazy happens. 

I think if you get that big wick and you see Bitcoin approaching support, you just want to be buying that. And then you have an easy 2x to 3x just straight off the bat from that.”

At time of writing, GMT is trading at $2.51.

I

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tuso chakma

Submit a Press Release

Industry Announcements

  • Swappi’s New Launchpad Feature To Bring IDOs to Conflux
    May 20, 2022
  • First Global Web 3.0 Eco Innovation Summit Comes to Singapore
    May 20, 2022
  • Wombat Soars to $40 Million in Total Value Locked While Still at Beta
    May 20, 2022
  • Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks
    May 19, 2022
  • Top Solana Play-to-Earn Contender DeFi Land Launches Its First Play-and-Earn Game
    May 18, 2022
  • Sneakmart Announces a Collaboration With StockX on Its First Metakicks Drop
    May 18, 2022
  • Everyrealm and Storyverse Partner To Create Interactive Stories for NFT Communities
    May 18, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,447.00
$29,447.00
0.28%
Ethereum
$1,977.50
$1,977.50
0.24%
Cardano
$0.53125
$0.53125
0.96%
XRP
$0.413869
$0.413869
0.42%
Dogecoin
$0.085872
$0.085872
0.95%

Spotlight

  • Two Ethereum Rivals Are Primed To Break Out This Week, According to Top Crypto Analyst
    May 16, 2022
  • Tech Mogul Jack Dorsey Doubles Down on Bitcoin, Says BTC a Global Standard for Money Transmission: Report
    May 18, 2022
  • Citadel Capital CEO Ken Griffin Says Terra (LUNA) ‘Fiasco’ Should Be a Wake-Up Call for Regulators
    May 21, 2022
  • CEO of $7,000,000,000 Hedge Fund Says Firm Hasn’t Sold Any Crypto Positions During Market Collapse
    May 16, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl