As experts suggest, a bull run is just around the corner, so investors are actively searching for the best crypto to maximize their gains.Â
The coins appearing at the top of Google searches are Solana (SOL), Ethereum (ETH), and the new presale token, Cutoshi (CUTO). Let’s analyze the price action and potential for growth these coins offer.
Solana (SOL): Pullback After Double Bottom Formation
Solana has been trading in a declining wedge for an extended period. Analysts expect a rally after it breaks through the upper trendline. Solana faces a minor pullback on the daily chart after an explosive 6.66% green candle yesterday.
Solana trades above its 200-day SMA, which it broke through yesterday with a large candle and above-average volume. Solana’s current market price is $153.55 after a slight 0.3% increase in the last 24 hours. The volume, however, shows an impressive 23% intraday surge.
Solana has made a double bottom, and the price is currently dropping towards the neckline price of $152.34. There is a high chance that Solana will take support here and continue with an uptrend. If the price breaks this support level, another support for SOL exists at $146.84 to break the bearish momentum.
Ethereum (ETH): Breakout From Triangle Pattern?
Ethereum is up over 2% in 24 hours and trades at $2,595.08. The 29% intraday rise in the trading volume shows increased Ethereum demand today. However, Coinmarketcap shows a 65% bearish community sentiment for Ethereum (ETH) at press time.
The Ethereum weekly chart shows a short-term triangular price action. ETH faces resistance from the upper trendline of the triangle pattern and is likely to follow for some time.
Ethereum launched upwards from its 50-day SMA yesterday, narrowing the gap between it and its 100-day SMA but still trading below it. Ethereum has an immediate support level at the $2521.46 price, and further below another support level lies at $2433.18.
Cutoshi (CUTO): Ethereum Based Challenger To Solana Memecoins
Cutoshi is the latest hybrid token on the ERC-20 Network. Cutoshi aims to bring mass adoption of Defi using the virality of memes to spread its vision. Inspired by Bitcoin, Cutoshi follows Satoshi Nakamoto’s ideals of providing privacy, security, and financial freedom for all.
Cutoshi offers a democratized ecosystem, as power is divided among the community members who hold CUTO, its native token. A farming mechanism is added to the ecosystem to let users collect CUTO points by participating in challenges and competing against other members to reach the top of the leaderboard. Users can harvest them into $CUTO tokens.
Cutoshi also offers its early members limited edition CUTO NFTs with unique DeFi-based functionalities within the platform. These are rare collectibles, as only 8000 are set to be minted.
Any meme community would be incomplete without merchandise. Cutoshi will host a merch shop to distribute hoodies, T-shirts, beanies, phone cases, etc, and offer heavy discounts on purchases made with CUTO tokens, to keep the ecosystem thriving.
The CUTO tokens are available at the low price of $0.022 and are set to increase in value as the presale advances. Experts believe the tokens are heavily undervalued at the moment, and this is an excellent opportunity for early investors to scoop up and hold CUTO. Some predictions point to over-strong growth for CUTO by the end of the year.
For more information on the Cutoshi (CUTO) Presale:
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