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Solana is up over 31% this week and recently crossed the $135 mark for the first time since April 2022. Meanwhile, eTukTuk is also gathering speed as its presale races past the $1.5 million mark.
SOL rallies as Robinhood relists
A trifecta of converging events has enabled Solana to outperform the market, pumping by 8.3% today and 31% this week.
Trading around $135, Solana is flirting with a long-standing resistance level.
The most apparent catalyst to propel SOL to this level is the broader market uptick, with Bitcoin surging 20% this week and currently just $8K from its ATH.
Altcoins have also surged, with the total altcoin market cap crossing the $1 trillion mark today for the first time since May 2022.
Leading investment platform eToro recently announced it would relist Solana on its exchange after delisting it around the $15 mark in the bear market.
With Robinhood boasting over 10 million users, the move will expose Solana to new retail demand, potentially enhancing its bull market price potential.
However, the move sparked outrage, with Solana community members conveying disappointment that Robinhood removed support for SOL at its lows, only offering it to investors when it is approaching its ATH.
X analyst CryptoCurb suggested the move is “one of the biggest rugs” he has seen in his seven years in crypto.
Curb notes that Robinhood removed support at its discounted price, only relisting following almost a 10x.
Besides Robinhood’s relisting, a bullish price chart breakout attributed to the recent pump.
As well as the long-standing $136 level drawing a retest/potential breakout, SOL broke a lower-time frame ascending triangle to the upside.
The price soared immediately after as traders gained confirmation on Solana’s trajectory.
In response, analyst Nebraksagooner believes that Solana will rally toward $160.
Crypto Knight holds a similar position, speculating Solana is headed toward $170 in the coming weeks.
The analyst also noted the price breakout, but drew as a symmetrical triangle rather than an ascending one.
That said, traders must be aware that Solana remains under a critical long-term resistance level. Until a break and retest above $136, there remains a risk of a potential rejection and move to the downside.
With that in mind, many traders seek diversified portfolios, increasing exposure to high-potential projects while limiting downside risk.
Amid this, eTukTuk, a new project tackling climate change with AI and electric vehicles, is emerging as an option.
eTukTuk raises $1.5 million
As the world grapples with rising temperatures from intense climate emissions, eTukTuk plans to harness world-leading technologies to address the issue.
Through a blend of blockchain, AI, and physical environmentally-friendly infrastructure, eTukTuk hopes to eradicate global climate change, starting its operations in Sri Lanka.
The project represents a big step towards modernization and sustainability within the transport industry in developing nations.
Tackling issues like high carbon emissions, Co2-related health issues, and global financial disparity, eTukTuk is strategically implementing a fleet of zero-emission electric vehicles and complementary charging stations in urban and suburban areas in developing regions.
Launched on the Binance Smart Chart, eTukTuk will provide widespread accessibility, offering financial and transportation services to the world’s 1.4 billion unbanked adults.
Meanwhile, the project’s inclusion of AI introduces route optimization to minimize fuel consumption and reduce traffic. It will also usher in predictive maintenance, ensuring the infrastructure’s longevity to reduce wastage and cut costs.
Having already partnered with Sri Lanka’s largest privately held company, Capital Maharaja Group, eTukTuk’s swift action reflects the team’s commitment to success.
TUK is trading for $0.0275 in the ongoing presale.
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