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Solana price is up 2% in the last 24 hours Trading at $154.29 As of 03:51 AM ET, trading volume was down 5% to $5.4 billion.
This comes after Brazil’s securities regulator approved the country’s first exchange-traded fund, the Solana ETF, and is now awaiting approval from the local B3 exchange.
The new SOL ETF will reference the CME CF Solana Dollar, developed by the Chicago Mercantile Exchange (CME) and Crypto Facilities (CF) to provide a unified price view of Solana.
Solana price will continue to reverse the upward trend.
Solana price, after rising in July, fell in August, falling from the $193 resistance level, within a descending channel pattern, according to data from Gecko Terminal.
Following the market clash on Monday, Solana price dropped below the lower channel line to the $113 support area. The bulls then used this support as a protection against the downward pressures to rise above the upper channel line.
SOL price is currently in an uptrend as the token is above the 50-day simple moving average (SMA). If the trend continues, SOL could overcome the immediate resistance at $158.
Moreover, the Relative Strength Index (RSI) is rising above the 50 midline, which is currently at 57, as buying intensifies.
If the buying continues, Solana price could rise above the channel, as bulls target prices above the previous resistance level at $193.
However, if the bears control the price at this level, SOL may return to the $130 support level inside the lower boundary of the channel.
Meanwhile, as the price of Solana continues to rise, there is a SHIB derivative project called SHIBASHOOT The cryptocurrency is attracting the attention of YouTube channel 99Bitcoins, which told its 706,000+ subscribers that the presale has 100x potential.
Shiba Shootout Price Surges to Over $891K – Is It the Best Alternative to Solana?
SHIBASHOOT It is a Wild West inspired project that is attracting the attention of the crypto community. This new project Stand out in a crowded cryptocurrency market by offering a unique blend of creativity, strategy, and play-to-earn (P2E).
The game takes place in the fictional town of Shiba Gulch, where players can earn $SHIBASHOOT tokens by participating in cowboy duels, adding an engaging interactive layer to the crypto space.
In addition to its gaming appeal, Shiba Shootout features: Profitable betting system With an impressive annual return of 1,096%.
introduction #cactus_pillars!🌟🌵
Bet on #Sheba_Fire Tokens on Digital Cactus and watch your rewards grow! 🚀🌸 pic.twitter.com/Z8OXUJSb5D
— Shiba Shootout (@shibashootout) August 6, 2024
With over $891K already raised in the presale, the token is currently available for $0.0198. Due to price increases due in less than 5 days, purchase before then to ensure you get the best deal.
Buy $SHIBASHOOT from the official website here Using ETH, BNB, USDT, or bank card.
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