Solana Price Hits Trading Support Lines This Week, Cutoshi Proving To Be The Hedge Traders Need For Q4

October 14, 2024
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3 min read

This is a Crypto Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

With the crypto market moving in the direction of the bears, popular altcoins like Solana have found themselves in a difficult situation. Data from Tradingview shows that Solana's price has hit a crucial support line in which a further drop could be catastrophic to investors. 

In view of this, smart investors are already diversifying to other projects such as Cutoshi. Having launched the presale a few weeks ago, early buyers have already seen a 46% ROI, putting CUTO among the top-performing altcoins in the past weeks. Driven by a multi-chain DEX exchange, experts are tipping the ROI to hit 1000% before the end of December. 

CUTO Token Projected To Lead The Upcoming Altcoin Season

Blending fun meme coins and DeFi, Cutoshi is on a mission to revolutionize the DeFi industry. The project, inspired by the Chinese Lucky Cat and Satoshi Nakamoto teachings, aims to solve the core problems in CEX exchanges, such as security and privacy. Cutoshi embodies the values of privacy, decentralization, and monetary freedom, which are Satoshi’s original vision for blockchain technology. 

By infusing these visions and the Lucky Cat, Cutoshi is developing an ecosystem where decision-making powers and control are given to investors. As such, Cutoshi is more than a meme coin. It is a project that echoes the core DeFi principles. The Cutoshi ecosystem will offer tools necessary for DeFi participation. Top on the chart is the multichain DEX exchange. 

This DEX exchange allows for cross-chain asset swapping, solving issues of slow transactions, high fees, and interoperability. Going further, there is Cutoshi farming, which is designed to reward investors in the form of CUTO tokens for participating in quests and competitions. For users who want to enhance their crypto market knowledge, there is a Cutoshi academy to do so. 

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All these tools and more have made Cutoshi one of the top presale tokens in the market. As such, over $400K was raised in the stage 1 presale. Now in stage 2, early holders are already in profit with analysts projecting more is to come. With the limited 440M tokens and the deflationary mechanism, analysts think CUTO will do 20x in 2025. 

Solana Price Forecast: Analysts Stress Importance Of Breaking $150 Barrier For Growth

Solana (SOL) bulls are not losing hope despite the popular altcoin dipping below the $150 resistance trendline. However, Zenbirb, states that this zone is very important for any headway to happen. While observing how Solana bulls are struggling to hold the $140 support, the analyst asserts how crucial the $150 resistance zone is for the altcoin to regain bullish momentum. 

Meanwhile, Solana's price has been dangling at the $140 support zone with signs of further decline. A further drop could push the SOL price towards the next support at $127, which could be catastrophic to holders. While the Solana market cap has dipped slightly, the trading volume is still increasing slightly, as per CoinMarketCap. The mixed signals have pushed investors to look for hedges in other projects like Cutoshi. 

Looking at the technical analysis, key market indicators like moving averages and MACD (14,16) show a sell signal. Also, while the Fear and Greed index shows 39 (fear), Solana's price volatility is 5%. With the decreasing open interest in the popular blockchain, more downtrend is likely in the coming days. 

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Why Now Is The Best Time To Invest In Cryptos

The crypto market is witnessing massive sell signals with whales dumping the token. Given the dip, now might be the best time to join trending projects like Cutoshi as it's early in this presale stage with a price of only $0.022. The Solana dip also opens the window to buy before the price rebounds. 

For more information on the Cutoshi (CUTO) Presale:

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This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
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This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
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