Solana

Bitcoin

Show

Simply

Cosmos

<p><strong>In a recent tweet, Benjamin Cowen, a top-notch analyst and well-known trader in the crypto space, <a href="https://twitter.com/intocryptoverse/status/1697668634401730851?s=20" target="_blank" rel="noopener noreferrer nofollow">shared</a> his insights on the future of Solana ($SOL). </strong></p> 
<p>According to Cowen, Solana is likely to “sweep the lows,” a term often used in technical analysis to describe a situation where an asset’s price revisits its previous low points before potentially rebounding. This phenomenon is particularly common among altcoins during what Cowen refers to as the “secondary scare for #BTC” or Bitcoin.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="656" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-1024x656.png" alt="" class="wp-image-326853" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-1024x656.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-300x192.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-768x492.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-1536x984.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-2048x1313.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-234x150.png 234w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-546x350.png 546w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-29-788x505.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<h3 class="wp-block-heading" id="what-does-this-mean">What Does This Mean?</h3> 
<p>When Cowen mentions “sweeping the lows,” he’s talking about a pattern where the price of an asset like Solana would go down to test its previous low points. This is often seen as a market test to gauge investor sentiment and liquidity at those levels. If the asset holds above these lows, it could indicate a potential rebound. However, if it breaks below, it could signal a bearish trend.</p> 
<p>The “secondary scare for #BTC” refers to a situation where Bitcoin experiences a second significant drop in price after an initial decline. During such times, altcoins often not only revisit their previous lows but may even set new low records. This is because altcoins generally tend to follow Bitcoin’s price movements but can be more volatile, leading to sharper declines.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Cowen ends his tweet by stating that these are observations based on prior market cycles with other altcoins and should not be taken as guaranteed outcomes. He emphasizes that it’s a “fair warning” to investors to be cautious and do their own research.</p> 
<p>So, if you’re invested in Solana or considering it, Cowen’s analysis suggests that you should be prepared for potential short-term price drops, especially if Bitcoin also experiences downward pressure. Always remember to do your own due diligence before making any investment decisions.</p> 
<p>You can review our <strong><a href="https://captainaltcoin.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Solana price prediction here.</a></strong></p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/benjamin-cowen-predicts-solana-will-sweep-the-lows-what-this-could-mean-for-sol/">Benjamin Cowen Predicts Solana Will “Sweep the Lows” – What This Could Mean for $SOL</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Benjamin Cowen Predicts Solana Will “Sweep the Lows” – What This Could Mean for $SOL

Зміст

CaptainAltcoin

Інші статті, опубліковані 1 вер. 2023 р.

Pro-XRP Lawyer Exposes Jim Cramer’s Misleading Claims on XRP Recognition

August Blockchainreporter Monthly News Review: BUSD Stablecoin Phaseout, Grayscale Victory

Triliunan SHIB Keluar dari Crypto Exchange, Pertanda Apa Ini?

Leancoin Burned Today: 96,327,444.04

South Korea’s FIU Declared Fine on Crypto Firm Delio!

Robinhood Acquires SBF's Stake for $605.7M

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!