Mantle rallies over 30% as Solana falls below $100; GFOX raises more than $2.75 million in pre-sales

In this article, we'll dive into the post-ETF turmoil that has gripped the crypto space, including the rise of Mantle (MNT), the fall of Solana (SOL) below $100, and the performance of Galaxy Fox, which has raised more than $2.75 million in its pre-release phase.

Mantle bombs by more than 30%

MNT has risen sharply, breaking out of an ascending channel pattern and reaching a high of $0.85.

However, profit-taking may have occurred at this level. Both moving averages are sloping upward, indicating an uptrend. Still, caution is advised due to a negative divergence in the RSI.

The next big challenge is $0.85; If this level is broken, the price could rise to $1.

Conversely, a break below the 50 SMA could signal the end of the uptrend, which could lead to a drop to $0.65 or $0.58.

Solana falls below $100

Solana has faced challenges after claiming the $100 threshold.

Despite a slight recovery, SOL fought against profit-taking and forming a descending triangle pattern, falling below $100.

This comes after SOL hit multi-year highs surpassing $125 in December, driven by broader tailwinds in the crypto market and renewed demand for layer 1 alternatives to ethereum.

The strong rally since September has given way to intensified selling pressure following extreme overbought conditions.

Nonetheless, bulls have shown conviction to buy dips around the $85 support level twice so far in 2024.

Looking ahead, watching SOL's ability to maintain its balance above the technically significant $85 mark will determine whether it avoids falling towards its next key support area, around $65.

The crucial $85 zone remains a battleground between exhausted rally participants taking profits and renewed buying interest aiming to spark another leg higher.

Galaxy Fox pre-sale raises $2.6 million

Galaxy Fox has raised more than $2.6 million in its pre-sale, demonstrating strong investor interest.

Its innovative tokenomics model, which combines native yield, deflationary mechanics, and on-chain taxation, has captured the attention of the crypto community.

Unlike many memecoins, Galaxy Fox is a multifaceted project with a diverse income stream. It includes engaging racing gameplay, a cutting-edge nft marketplace, and real-world product sales.

A portion of merchandise revenue is reinvested in marketing, highlighting the project's strategic focus.

The pre-sale is in stage 7, with GFOX priced at $0.00198.

Over $2.75 million has been raised and over 2.3 billion tokens are in the hands of early investors, indicating growing momentum.

In the next stage, the price of the token will increase to $0.002178.

Galaxy Fox's pre-sale performance and strategic moves in the meme and gaming coin space position it for growth.

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