Solana
Solana (SOL), Binance Coin (BNB), and VeChain (VET)
How are the pieces Solana (SOL), Binance Coin (BNB), and VeChain (VET) performing well in the crypto market? Let’s take a look below at an overview of their prices and the latest news about them.
BNB under pressure: possible rebound or further decline?
BNB has recently continued to slide towards immediate support of $560indicating that the bears are maintaining selling pressure.
If the price rebounds strongly from this level, the bulls could defend it, taking the BNB/USDT pair all the way to the 20-day EMA ($602), which will likely pose a significant hurdle.
A decline from the 20-day EMA would increase the likelihood of a break below $560, pushing the pair towards $536. Buyers will need to push the price above the moving averages to suggest a weakening of selling pressure.
Bullish momentum could resume with a close above $635.
Solana: Staying in Control
Recently, the bulls have failed to push Solana (SOL) back into the descending channel pattern, indicating that the bears have turned the support line into resistance.
On June 23, the bear increased his selling pressure, attempting to bring the SOL/USDT pair back to critical support at $116.
This level could attract strong buying from the bulls, but the recovery will likely face strong resistance at the 20-day EMA ($144).
If the price falls from this level, the bears will attempt to push the price below $116, with a possible collapse to $100. On the positive side, buyers will need to overcome the 50-day SMA ($156) to pave the way for a push towards $189.
VeChain Crypto Performance: Comparing It to Solana and BNB
The cryptocurrency market has seen a significant decline, with Bitcoin (BTC) fall to almost $60,000dragging down other assets like VeChain (VET), which was hit hard.
VET is down 5.8% daily, 12.3% weekly, 22.6% 14-day, and 31.5% monthly. The recent drop is likely due to BTC miners selling holdings, with the mining price increasing to $86,000.
The sell-off with record profits, along with some new capital inflows and significant withdrawals from BTC ETFs, has increased investor fatigue.
The forecast for VeChain (VET) is therefore mixed. Captain Chávez predicted that VET could reach $1.37 over the next year, which would require 5,600% growth.
However, researchers from Changelly we don’t see VET breaking the $1 threshold at least until June 2032, with a maximum forecast of $1.02 for that month.
Telegaon paints a more optimistic picture, predicting that VET will exceed $1 in 2027, reaching a maximum of $1.48. Despite Captain Chavez’s optimism, it seems unlikely that VET will reach $1 within a year, given the current lack of traction.