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This time, October seems different for the cryptocurrency market as the crypto leaders are breaking out of the resistance. Solana (SOL) has increased by 9.48% in the last seven days. However, it has faced resistance near the breakout zone, but the price action is still bullish. Litecoin also shows bullish sentiments breaking out of the pennant pattern.
Meanwhile, DTX Exchange (DTX) has shown tremendous strength, increasing 300% from the initial price in just a few weeks. DTX is said to be the leader of the bull market and can be the next multi-bagger coin.
Solana (SOL) Bounces From 0.382 Fibonacci Level
Solana (SOL) has completed the inverse head-and-shoulder pattern; a breakout from this pattern could lead to the reversal. At the pattern’s neckline, Solana (SOL) has retraced to the major support level of Fibonacci, and a bounce from the level shows the strength of the price.
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Currently, Solana (SOL) is trading at $152 with a market cap of $71.65 billion. In the last 24 hours, the volume has decreased, indicating lower activity due to rejection from above levels.
Solana (SOL) is a large-cap coin with a total supply of 586.71M, so its returns are capped compared to those of small caps.
Litecoin (LTC) Faces Supply After Breakout
Litecoin recently broke out of the upper resistance of the triangle pattern it was trading inside. Before supply came in, Litecoin rose around 8% from the breakout level. In the last two days, it has dropped 4% after creating a swing high of $73. Litecoin is still trading above the short-term moving averages, which can work as support on the downside.
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On the news, Canary Capital Group, a new investment firm focused on digital assets led by Steven McClurg, a former co-founder of Valkyrie Funds, on Tuesday, the firm filed for the launch of the Canary Litecoin (LTC) ETF, signaling its intention to set the pace in the industry rather than follow others.
DTX Exchange (DTX) Reaches Another Milestone
With continuous high demand, DTX Exchange has reached the $5 million milestone. This mark was anticipated by the end of October, but due to the entries of high-net-worth investors in the token presale, DTX achieved the milestone early. Now, the target has been increased to $6 million by November.
The testnet launch and revenue share model developments were the top contributors to rising demand. DTX achieved a record 10,000 TPS in the testnet and has proven to be the fastest exchange. Also, DTX has added another beneficial feature for coin holders, which is that they can earn up to 3% of the total revenue of the exchange.
DTX tokens are priced at $0.08 at the current stage; a few days back, the DTX team announced that the listing price would be $0.20. This gives a margin of safety for investors and easily 150% at the time of launch. Ambition for DTX Exchange after the launch is high, and analysts expect 80X-100X price appreciation after the listing of the token.
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