Bitcoin's halving is expected to occur from April 17th to April 21st, causing excitement in the cryptocurrency market and making investors nervous. Expectations are rising for crypto rebalancing and redistribution to buy portfolios ahead of what could be the biggest bull market in digital asset industry history.
Both new and seasoned tokens offer investors the opportunity to zero in and achieve portfolio potential of over $10,000. This includes the cryptocurrencies you purchase such as PENDLE and Solana (SOL).
After last weekend's sell-off, the opportunity to buy on the edge and increase your crypto holdings has materialized significantly. In this article, we highlight two of his tokens to buy amid negative market shifts for a stronger rebound in 2024.
1. Solana (SOL)
The bullish outlook for the cryptocurrency market quickly turned to a bleak outlook during U.S. business hours on Monday. After breaking above $150 earlier today, SOL has extended its 4-hour candlestick to $142.
The resistance at $150, reinforced by the Fibonacci ratio of 0.618, threatens further decline to $120, especially as the Relative Strength Index (RSI) has reversed to a downtrend at 41.
Another daily close below the support/resistance of the RSI trendline does not mean that selling pressure will increase over the coming sessions or even days.
The next few days will play a big role in determining the direction of SOL price. Therefore, if the 0.786% Fibonacci ratio near $138 is respected as support, the recovery will continue and Solana will likely rise above $200 again in 2024. Other support areas to watch include the rising green trendline and the major buyer congestion at $120 last weekend. .
Whether the SOL price can debut to an all-time high of $260 in 2024 will depend on investor interest in the token and the general market outlook following the Bitcoin halving later this week.
Investors are likely to start experiencing FOMO if the stock breaks above $200 twice. This move will prove the strength of the bulls. Solana And prices could hit new highs this year.
2.PENDLE
Despite widespread market consolidation, Pendlecoin has shown a strong recovery since mid-March, surging 225% from $2.30 to a high of $7.53. However, due to geopolitical issues in the Middle East, the price temporarily fell to $4.9, but then recovered to $6.88.
According to the Fibonacci retracement tool, the Pen dollar has rebounded from a 50% drop, indicating a constructive correction that allowed buyers to regain strength. With intraday upside at his 1%, coin buyers are likely to see him challenge the swing high resistance at $7.53.
In addition, Bitcoin's halving is just around the corner, and we expect to see new potential impacts on Pen Dollar prices as we move towards a broader recovery.
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