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In this article, we’ll dive into the post-ETF whirlwind that has gripped the crypto space, including the Mantle (MNT) surge, the dip of Solana (SOL) below $100, and the performance of Galaxy Fox, which has cleared over $2.75 million in its pre-launch phase.
Mantle pumps by over 30%
MNT has surged sharply, breaking out of an upward channel pattern and reaching a high of $0.85.
However, profit-taking may have occurred at this level. Both moving averages are sloping upwards, indicating a bullish trend. Still, caution is advised due to a negative divergence on the RSI.
The next major challenge is $0.85; if this level is broken, the price could rise to $1.
Conversely, a break below the 50-SMA could signal the end of the uptrend, potentially leading to a fall to $0.65 or $0.58.
Solana drops below $100
Solana has faced challenges after reclaiming the $100 threshold.
Despite a slight recovery, SOL grappled with profit-taking and a descending triangle pattern formation, falling below $100.
This comes after SOL hit multi-year highs surpassing $125 in December, fueled by broader crypto market tailwinds and renewed demand for layer-1 alternatives to Ethereum.
The robust rally since September has given way to intensifying selling pressure following extreme overbought conditions.
Nonetheless, bulls have shown dip-buying conviction around the $85 support level twice thus far in 2024.
Looking ahead, watching SOL’s ability to maintain its footing above the technically significant $85 mark will determine whether it avoids slipping toward its next key area of support, around $65.
The crucial $85 zone remains a battlefield between exhausted rally participants taking profits and renewed buying interest aiming to spark another leg higher.
Galaxy Fox presale clears $2.6 million
Galaxy Fox has raised over $2.6 million in its presale, demonstrating strong investor interest.
Its innovative tokenomics model, which combines native yield, deflationary mechanics, and on-chain taxes, has captured the crypto community’s attention.
Unlike many memecoins, Galaxy Fox is a multifaceted project with a diverse revenue stream. It encompasses a captivating runner game, a cutting-edge NFT marketplace, and real-world merchandise sales.
A portion of merchandise revenue is reinvested in marketing, highlighting the project’s strategic approach.
The presale is in stage 7, with GFOX priced at $0.00198.
Over $2.75 million has been raised, and more than 2.3 billion tokens are in the hands of early investors, indicating growing momentum.
The next stage will see the token price increase to $0.002178.
Galaxy Fox’s presale performance and strategic moves in the gaming and meme coin space position it for growth.
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Source: https://crypto.news/mantle-rallies-by-over-30-as-solana-falls-below-100-gfox-raises-over-2-75m-in-presale/