Key Insights
- Cryptocurrencies like Solana and Bonk have been massively bullish in the market so far.
- However, both currently struggle with important price resistances, and are slowing down as a result.
- Yeti Ouro is a major competitor, and isn’t struggling with the same issues
Solana and Bonk have been making waves across the crypto market, with impressive price gains on major timeframes.
So far, Solana has emerged as a leading L1 cryptocurrency among others like Cardano and Polkadot.
Bonk is also a major performer among the memecoins, and has beaten others like Shiba Inu and Dogecoin. So, can they stand Yeti Ouro, a newcomer ready to dominate the entire market?
Solana
CoinMarketCap data shows that Solana is green in most major time frames, with a major price increase of 2.9% in the daily timeframe and 16.5% in the weekly timeframe.
Moreover, Solana is also trading at the crucial $150 price level. This indicates that if the bulls put in significant pressure, Solana should be able to flip this price level as a support.
When this happens, Solana can continue upwards to the $200 price target or higher.
The chart above shows that the cryptocurrency is trading within an ascending channel formation. This is bullish enough on the medium and long timeframes.
However, within the channel, a descending resistance holds the cryptocurrency down. Combined with how the $150 resistance is a psychological one, Solana might be in for a rough one.
Bonk
CoinMarketCap data shows that Bonk is a lot more bullish on the daily timeframe, and is up by around 5.45%.
The weekly timeframe shows that it is up by more than 17% over the last 24 hours, which is impressing enough on its own. Just like Solana, Bonk is also showing signs of a comeback on its daily chart.
The memecoin is bullish because it is attempting to break above the upper trendline of the falling wedge above. If Bonk breaks out of this formation, we should see a price explosion that nearly doubles its price at least.
However, breaking above this trendline is no easy task. As far as market action goes, Bonk has a significant challenge ahead, same as Solana.
Yeti Ouro ($YETIO)
Luckily, Yeti Ouro is up to the challenge, with healthy trading volume and massive investor interest. Investors, so far, have been jumping on the ongoing presale phase that has sold millions of tokens.
$YETIO currently sells for $0.012. It offers a 10% discount to early adopters, and has an extremely limited supply. It means that investors who drag their feet might miss out.
The $YETIO token in particular, is the native cryptocurrency of the upcoming Yeti Go game. Yeti Go in this case, is an exciting Play to Earn game built using Unreal Engine 5 and FMOD.
It is a racing game, in which the core objective is to reach the finish line first.
Along the way, gamers also need to destroy other competitors’ vehicles off the tracks.
Players can also collect weaponized gadgets and upgrades along the road, within gameplay that is both challenging and engaging.
Overall, Yeti Ouro taps directly into this massive real world utility and is set to be massive on launch.
What are you waiting for? Get in before the window closes!
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