Argentina, known as a Bitcoin-friendly country, is preparing to collaborate with Solana, one of the leading altcoin projects, for a project. Meanwhile, Solana co-founder Anatoly Yakovenk directed his arrows of criticism at the US. Elsewhere, the analyst expects an upside move for SOL.
Argentina will launch a joint project with Solana!
According to the latest news, Argentina is preparing to launch a joint project with Solana (SOL). The project called “Forma” will be the first of its kind. This project aims to promote the adoption and regulation of cryptocurrency in the region, as well as promote technological advancements and economic growth. As part of this initiative, Solana plans to establish the Solana Economic Zone in Argentina.
Meanwhile, the project will start in August. Solana emphasizes that his main goal is to ensure financial freedom. This partnership between Solana and Argentina shows the country’s growing interest in cryptocurrencies and its efforts to embrace the potential benefits they can bring to the economy.
Solana criticizes co-founder US government
As you have been following on Kriptokoin.com, the regulatory pressure on crypto in the US continues. Anatoly Yakovenko, co-founder of Solana, has sparked fresh controversy with his recent criticism of the US government’s cryptocurrency regulations. Amid the recent surge in the crypto market, Yakovenko expressed his concerns. In this context, he likened the US government’s regulatory approach to chaos in the healthcare sector.
Recently, Solana co-founder and crypto researcher Molly White shared a graph, saying, “Think about how well the healthcare industry works for those who don’t use crypto. The US government has created an even bigger mess in crypto.” She also noted that the effectiveness of government regulation is inversely proportional across different sectors. Meanwhile, White’s piece highlighted the crypto industry’s significant financial impact on the upcoming 2024 elections. White’s chart showed that crypto-focused political action committees (PACs) have raised more than $203 million and spent more than $38 million on elections so far.
SOL price prediction: What’s next for the altcoin price rally!
Crypto analyst Sahana Vibhute assesses SOL’s technical picture. While bulls fail to push levels above the range, they also offer a strong base, preventing the rally from breaking below $133. Despite the ongoing price volatility, the altcoin price continues to remain in a bullish range keeping bullish hopes alive. SOL price has been juggling around the 200-day MA of $138.33 since the start of the week as bulls failed to break above and sustain the key resistance. The current trading pattern suggests that the ongoing consolidation may continue for some time. Price is trading in a decisive phase. Therefore, a breakout may occur next week only when it records a bullish close over the weekend.
SOL price is trading within a stable symmetrical triangle and is slowly approaching the top of the pattern. Moreover, the 200-day MA is expected to offer a strong base over the coming week. As a result, the altcoin price may have a low volatile week and may peak to avoid bearish attention. The RSI trading in the mid-range confirms the speculation followed by a major breakout in the direction of the induced volume. On the other hand, the 0.5 FIB level at $140 is seen as one of the key levels to be reached before the weekend ends. This move could push levels above $150 higher and could even help reach 0.618 FIB at $155 if buyers gain momentum.
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Yazının devamı için Bitcoin-Friendly Country Shakes Hands with This Altcoin: How Will It Affect Price?