Ethereum, GangaMoon, and Chainlink Rally; Analysts expect upside trends for Solana and BNB


(.) While Ethereum and Chainlink are seeing significant price increases, KangaMoon, a new player in the cryptocurrency market, is also joining the league.

After rising 400% during the current pre-sale period, analysts are anticipating another explosion in the price of KANG in the coming months, while anticipating bullish trends for Solana and Binance Coin, which are set to rise. Let's find out more.

KangaMoon is one of the best coins you can buy

Amidst the current mania in the meme coin market, KangaMoon (KANG) has gained increased public recognition as a result of its successful pre-sale. Additionally, KANG currently has over 32,000 registered users and its fundraising value has reached nearly $7 million. While KangaMoon is part of the booming Play-to-Earn (P2E) coin market, which is expected to reach $8,856 million by 2028,

The team is creating a P2E game where players can level up their characters and purchase items using KANG. KANG will benefit from this development, which will benefit more than 99% of other meme currencies that rely on hype.

During the bonus phase of the pre-sale, each KANG is currently worth $0.025, which is 400% more than its original price of $0.005. However, if KANG is listed on a leading centralized exchange like BitMart, which has announced an upcoming IPO of the coin, the project developers believe there is a chance of seeing a 100X increase.

Interestingly, CoinMarketCap and CoinGecko have already registered KANG.

Ethereum price rises amid ETF woes

Even before the decision was made on possible approval, the price of Ethereum had risen by more than 20% over the past seven days, and the coin's market cap had only slightly increased by 7%. Although the SEC has approved 0.25 applications for ETH ETFs, they cannot be traded until all necessary documents are officially approved. This is why the price of the cryptocurrency is still within the same price range as it was before the news.

Banking institution JPMorgan expects the newly approved spot Ethereum ETF to begin trading as early as November.

The company believes that approval of these ETFs and the broader cryptocurrency market are increasingly political issues, especially in light of the upcoming 2024 US presidential election.

Chainlink price has been steadily moving higher for the past seven years

days, rising from a staggering price of $13.6 to $17.6, representing an increase of approximately 7.5%. Additionally, Chainlink's market cap currently stands at $10.3 billion, making the coin the sixteenth largest cryptocurrency. Meanwhile, Chainlink price's recent break above the $16 resistance level, which ended a two-month downtrend, is also significant.

The market dynamics have changed dramatically due to this breakout, and to contain the sharp increase, the Chainlink price chart reveals a potential consolidation above the $16 support level. If the uptrend continues, investors can pay close attention to the critical resistance levels at $18.6, $20.7, and $22.8.

Solana price forecast

Among the largest cryptocurrencies is Solana, a leader in blockchain technology thanks to its fast transaction times and cheap costs.

Meanwhile, popular cryptocurrency trader CryptoJack posted an interesting Solana price prediction, stating that a breakout could be indicated by some bullish patterns starting to appear on the charts. According to analysts like Altcoin Sherpa, a new all-time high for Solana this year could be set at over $500, which would be approximately 200% higher than Solana’s current price.

Binance coin price chart analysis

A noticeable change in Binance Coin price behavior shows the latest analysis of Captain Vibek. He shared that a five-point bullish formation has appeared on Binance Coin's daily price chart, according to his post, indicating that Binance Coin's upward trend may continue.

At this point, Binance Coin price is making lower highs and lower lows, indicating a brief lull in the uptrend. Meanwhile, the breakout above the upper trend line of the pentagram, which was confirmed by Captain Viebeck, is the most important element of this analysis.

Will KangaMoon's run continue?

While the price of KangaMoon has continued to rise during the current presale period, some enthusiasts are wondering if the rally will continue after the token's debut. With the current state of KangaMoon's market capitalization, raising the price according to many will be easy because it is smaller compared to other projects, and less money is needed to double its price. As a result, KANG has the ability to maintain its rally.

Discover exciting opportunities in the KangaMoon (KANG) preview today!