BNB (BNB) and Solana (SOL) consolidate while Collateral Network (COLT) surges
Popular cryptocurrencies like BNB (BNB) and Solana (SOL) have been consolidating for quite some time now, and investors are unsure of whether they will go bullish or bearish next. However, Collateral Network (COLT), the new crypto project which experts can’t stop talking about, has been surfing ahead ever since its presale started with a current new token price of $0.014. Here is why the platform is the next big thing in decentralised finance (DeFi).
The bears are fiercely defending the 20-day EMA level of BNB (BNB), which is causing a downturn in the BNB (BNB) value. The 20-day EMA is gradually sloping downward and the RSI is just below the midpoint, signalling a minor advantage to the bears.
There is a possibility of the BNB (BNB)/USDT pair sliding to $300 and then to the 200-day SMA ($291) if the $306 support is broken. To prevent the downward move, bulls will need to drive the price of BNB (BNB) above the immediate resistance at $318.
If they succeed in doing so, this instigates a rise for BNB (BNB) to the overhead resistance zone between $338 and $346 which could open up. BNB (BNB) is still the 4th largest cryptocurrency by market capitalization and the current market price of BNB (BNB) is $311.
Solana (SOL) has also been consolidating in the past few days, as buyers failed to sustain its value above the 20-day EMA which stands at $20.81. This indicates that demand has dried up at higher levels, and the Solana (SOL) cryptocurrency may face challenges in the near term.
The 20-day EMA is currently flat, and the RSI is also just below the midpoint, indicating that Solana (SOL)/USDT may remain between the downtrend line and $18.70 for some time. However, a break below $18.70 could suggest that bears have taken control, Solana (SOL) may extend its decline towards the important support level at $15.28.
On the other hand, if the current price level turns up and breaks above the downtrend line, it could signal the return of bullish momentum for Solana (SOL). If that happens, Solana (SOL) may climb towards $27.12.
Collateral Network (COLT)
As mentioned earlier, BNB (BNB) and Solana (SOL) are currently consolidating, and Collateral Network (COLT) is currently surging ahead, providing holders with an alternative opportunity in the crypto space.
Collateral Network (COLT) is a modern blockchain lending platform with a unique approach to decentralised finance (DeFi), utilising advanced technologies and algorithms to offer a new level of accuracy and efficiency in asset valuation and lending rates.
The Collateral Network (COLT) lending platform uses artificial intelligence (AI) to accurately value real-world assets such as watches, supercars and gold bars, and generate algorithmic lending rates, resulting in more precise and fair valuations for lenders to lend small amounts of money towards loans for borrowers, as well as earn a passive income and for borrowers to get the best value from their assets to recoup the capital they require for loans. This approach minimises the risk of bad loans and ensures both parties receive a fair deal.
The Collateral Network (COLT) platform also operates as a decentralised aggregator, pooling liquidity from different sources to ensure order book depth and provide slippage-free trading. The Collateral Network (COLT) hybrid infrastructure model utilises both on-chain and off-chain assets to provide institutional-level liquidity, allowing the platform to handle high-volume transactions quickly and efficiently.
Finally, the Collateral Network (COLT) platform’s native token, $COLT, provides additional benefits for investors. Holders can stake the $COLT tokens to earn additional rewards and discounts on transaction fees, making it an attractive investment for those looking to earn a passive income.
The $COLT token is currently selling at $0.014 during its presale, and has been predicted to surge by a huge 3500% by the time the Collateral Network (COLT) presale ends. This presents an exciting opportunity for crypto enthusiasts and investors to be part of this new exciting revolution in the crypto space.
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