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As the trading week wraps up, excitement surrounds the cryptocurrency market following significant fluctuations. The unexpected victory of Trump in the elections has sparked notable activity, ending a prolonged period of stagnation for over 200 days. Investors are eager to know what lies ahead for Solana (SOL), Chiliz (CHZ), and Cardano (ADA) coins.
What’s Next for Solana (SOL)?
Following Trump’s election win, a surge in the crypto market is predicted. With the recent resignation of Gensler and the incoming administration’s favorable outlook on cryptocurrencies, optimism is growing. Furthermore, pending ETF applications for SOL and other altcoins may lead to approvals beyond just Ethereum.
Is Chiliz (CHZ) Coin Set for a Rally?
CHZ Coin, which dipped to $0.06, now aims to reclaim ground within its parallel channel. The midpoint remains intact, despite recent declines in Bitcoin‘s price impacting short-term gains. A breakthrough above $0.0848 could signal greater momentum for CHZ Coin, as long-term investors recall the cyclical nature of such price movements.
The analysis indicates several key points:
- Solana has found support around $211, with a potential peak of $225 in 2024.
- Chiliz needs to surpass $0.0848 for anticipated upward movement.
- Cardano has surged 118% recently, with a focus on maintaining support above $0.6.
The market’s current trajectory suggests promising opportunities for these cryptocurrencies, especially with the political landscape shifting towards a more crypto-friendly environment. Continued observation of these trends will be essential for traders seeking to capitalize on potential gains.