italik Buterin made headlines recently for selling off some of his large memecoin holdings for charity. The act was in line with his more recent interest in cryptocurrency philanthropy. In that respect, Ethereum and Solana continue to be the two most critical market movers available to the general public.
Buterin's Charitable Sales
According to reports, recently, Buterin sold a large chunk of memecoins, including Shiba Inu and Dogecoin. He then said he intended to send the profits to charity.
The act proves that the co-founder will continue using his fortune to do good in society. He has donated to many causes, mostly related to public health and poverty alleviation, as well as for other charitable reasons.
Precisely, the charities that will benefit from these latest sales are undisclosed, but if Buterin's past projects are anything to go by, the man is not known to pursue non-impactful projects.
In liquidating these assets, Buterin not only donated to welfare causes but also weathered the unpredictable nature of memecoins that can see their prices either shoot up or bottom out drastically.
Ethereum's Market Analysis
Meanwhile, Ethereum is in its consolidation phase. In the recent past, Ethereum has seen little price action. Ethereum is currently trading between the $2,440 and $2,475 levels.
Josh, an analyst on Crypto World noted that ETH needs to break above the resistance of $2,440-$2,475 for a bullish outlook.
For Ethereum to make further gains, it needs to constantly close above the resistance zone. According to most analysts, if ETH manages to break above the $2,475 resistance mark, the cryptocurrency may start rallying toward the subsequent resistances at $2,550 to $2,580. The formation of a double bottom is seen in the market, which is a sign of upward momentum if the local high near $2,495 is breached.
Solana's Bullish Trajectory
Meanwhile, Solana has bounced off pivotal supports between $137 and $142. It faces resistance in the $152-$154 area, with further resistance between $158 and $163. According to analysts, if Solana can navigate above the $149 level, it could be targeting around $163, close to a 10% gain.
Ethereum and Solana show similar double-bottom patterns that are set up to see possible bullish reversals. Resistance levels have both watched closely by traders, and a successful breakout can yield sizeable gains. The cryptocurrency market is still highly speculative; investors must be extremely careful.
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