Solana Bucks Crypto Market Downtick, Jumps in Price Amid New Binance Web3 Wallet Integration

Ethereum (ETH) rival Solana (SOL) bucked the broader crypto market downtick amid a brand new integration with Binance’s Web3 Wallet.

The fifth-ranked crypto asset by market cap is up greater than 5% in the previous 24 hours, in comparison with the general crypto market cap, which is down 3.8% over the identical interval, in keeping with CoinGecko.

Binance says its Web3 Wallet customers can now commerce SOL and entry a variety of DApps and upcoming airdrops.

Some crypto analysts assume the Ethereum rival is primed for a correction, nonetheless.

Earlier this week, Ali Martinez told his 52,700 followers on the social media platform X that SOL’s Tom DeMark (TD) sequential indicator flashed a promote sign on its day by day chart, which has traditionally signaled value drops for the good contract platform. The dealer predicts that SOL may retrace again to the $127-152 vary.

Supply: ali_charts/X

The TD Sequential indicator is often used to establish the potential turning level for an asset’s value.

SOL is up greater than 23% in the previous week, practically 52% in the previous month and greater than 62% because the begin of the yr. Regardless of these value good points, nonetheless, it stays practically 32% down from its all-time excessive of $259.96, which it set in November 2021.

SOL is buying and selling at $177.72 at time of writing.

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