Solana ($SOL) had a sharp rise in value, peaking at $77.72 before running into bearish resistance. Investors are now closely monitoring the $65 support level as the crypto experiences a drop.
Meanwhile, a new altcoin, Galaxy Fox ($GFOX), has achieved a phenomenal milestone — raising $1 million in the first few weeks of its presale. Let’s explore why selling pressure is hitting $SOL and why investors are turning to $GFOX.
Solana Price Analysis
Solana has experienced a notable upswing over the past few days, achieving success in breaking the important $65 barrier level. This surge follows the same upward trend seen in Ethereum and Bitcoin, showing the strength of positive sentiment in the crypto industry.
Although it hit a peak of $77.72, bearish resistance finally caused the price of $SOL to drop. The crypto has now fallen below $72 and is attempting to test the $70 support level.
When looking at the bigger picture, Solana’s platform growth has stayed consistent throughout 2023. This has naturally increased demand for $SOL. After a difficult 2022 marked by outages, its TLV has increased by over 300% in the current year. Taking into account the current metrics, the future of $SOL, one of the top 10 altcoins, appears bright.
What Makes $GFOX the Best ICO Crypto of 2023?
One problem with $SOL is that, due to how aggressively traders have been cashing out profits recently, it may need a few months of being down before seeing an upswing.
In view of this, investors seeking short-term returns may need to look into other options. One of the best places to get above-average profits in 2023 is through presale tokens.
Galaxy Fox, a deflationary ERC20 coin, has raised $1 million in just a few weeks. This coin combines the excitement of P2E games with the fun of meme currencies in order to create a new class of meme currencies that can be used in practical ways.
The main focus of the game is on distinct fox characters fighting in a space-themed universe. Players will embark on an incredible journey after selecting their special foxes for the intriguing Web3 game. Those who perform the best will get in-game goods and $GFOX tokens as rewards.
$GFOX is also establishing a reputation as the greatest crypto for passive income. A stargate collects 2% of every $GFOX transaction and uses it to form a fund pool that rewards staked $GFOX tokens. Additionally, $GFOX offers 3,000 unique NFTs, each based on a character from the $GFOX universe. You can soon mint these NFTs on the $GFOX website and trade them on different marketplaces such as OpenSea.
Given the positive response to $GFOX in the crypto market during the current presale, experts predict that this new ICO crypto has a bright future.
$GFOX is currently priced at $0.001122. You can take part in the presale via the official Galaxy Fox website. However, you must act quickly, as the price increases in each of the ten presale steps, meaning the sooner you join, the higher gains you make.
So far, $GFOX has already given 70% price growth to early investors. With seven more stages and seven more price increases coming, the returns from $GFOX are expected to exceed those of the top 10 altcoins.
To find out more about $GFOX, visit the Galaxy Fox Presale or join the community.