Analyzing the Potential of Solana, Kaspa, and Raboo as Key Players in the DeFi Space This Quarter.
Out of the numerous cryptocurrencies on the market, three DeFi coins appear to be captivating the eye of investors and experts the most — Solana, Raboo ($RABT), and Kaspa. While SOL and KAS tread on critical price levels, Raboo, the presale token continues to edge closer to the end of its presale and towards its highly anticipated market entry. Let's get into the details about what really makes these altcoins worth watching for the final quarter of the year.
Solana, along with many top altcoins, began August on a bearish note, after failing to stay above the crucial $172 price level. However, SOL has been making efforts to recover since then, and so far it has managed to increase by 2.7% weekly to a current price of $144.01, according to CoinMarketCap data.
In the technical charts, SOL's Relative Strength Index (RSI) indicator sits above 50, suggesting a slight bullish bias. However, investors are advised to wait until the RSI closes above 60, confirming that it would rally in the coming days. It is also suggested that they keep an eye on Solana's immediate support level, which is at $150. If SOL is able to maintain this level, there's a chance it will try to retest the $172 resistance zone in the coming days.
KAS is increasingly becoming one of the most highly speculated assets recently, as it continues to display significant upward movement after being suppressed by an overall market pullback earlier in August. Kaspa’s price started rising on August 5 from $0.125, but as of the time of writing, KAS has reached $0.1617, which is about a 30% increase.
As Kaspa keeps recovering, its hash rate has also increased to 823.88 PH/s and is expected to surpass 900 PH/s soon, indicating growing confidence not just among investors, but also miners. Analysts predict that if KAS continues to grow at this rate, it may challenge the previous resistance levels around $0.185 and $0.195.
Despite still being in its presale, Raboo (RABT) has also joined other top altcoins as one of the assets investors are closely monitoring. However, it would not have been so if not for its creative strategy, which attempts to combine cutting-edge technology, meme culture, and community involvement in an engaging way.
Moreover, because 45,000,000 tokens are reserved for burning $RABT tokens, investors could expect growth in the value of $RABT, which some experts believe could potentially reach 100x its current value.
Due to strong demand from meme coin enthusiasts, $RABT swiftly advanced to stage 4 of its presale, where it is now selling for $0.0048 per token. Due to Raboo performing well from the outset, experts advise anyone looking to increase their cryptocurrency gains before 2024 runs out to join Raboo’s presale.
While Solana strives to regain its footing above critical price levels, Kaspa's bullish momentum keeps suggesting it may challenge new resistance points. Meanwhile, Raboo's innovative presale strategy and community-driven approach set the stage for potential explosive growth. Given that these three DeFi coins are attracting the attention of analysts and investors alike, anyone attempting to navigate the volatile cryptocurrency market may find it helpful to closely monitor their progress.
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