During the last week of April, three popular cryptocurrencies, including Solana (SOL), Sushi (SUI), and Aerodrome Finance (AERO), have shown different behaviors. Each of these cryptocurrencies is on a special path reflecting significant market developments. Let’s analyze the price charts of these 3 digital currencies:
This news is purely informative and does not mean a recommendation to buy or sell any specific currency. Researching and evaluating the credibility of currencies is the responsibility of users.
Solana (SOL):
Solana’s price has grown by about 6% over the past 7 days, returning to the $130 level. This growth follows a heavy 53% correction between February 7 and April 7, instilling hope among investors.
According to DeFiLlama data, Solana’s trading volume on decentralized exchanges reached $15.65 billion in the past week, roughly 50% more than Ethereum’s (ETH) trading volume, showcasing Solana’s ecosystem strength.
If the current uptrend continues, Solana could test the $147 resistance. Upon surpassing this level, the next price targets could be $160 and even $180. However, in case of a weakening uptrend, the $124 support level is crucial; breaking this level could bring the price down to $112, posing a serious threat to the recent rally.
Sushi (SUI):
The Sushi ecosystem has recently gained attention for its increased activity in the DeFi sector and decentralized exchanges. The trading volume on decentralized exchanges in this network reached $2.14 billion, placing it in fifth position among all chains. Some days, the daily trading volume of this network even surpassed Arbitrum.
Despite these activities, SUI price decreased by over 9% in the past week. If this trend continues, the price may reach the $2.02 support level, and if this level breaks, further decline to $1.71 is possible.
However, if selling pressure decreases and an uptrend begins, Sushi could aim for the $2.28 resistance. Upon surpassing this level, the next price targets at $2.41, $2.54, and even $2.83 will be on the horizon.
Aerodrome Finance (AERO):
Aerodrome Finance, as the primary exchange on the Base chain, has generated $6.38 million in fees over the past 30 days, solidifying its position as a DeFi hub in the Base chain.
However, AERO’s price dropped by over 10% in the past week and over 20% in the past month. Meanwhile, the Base chain is introducing a new narrative called ‘content cryptocurrencies,’ a concept some see more as meme coins than a real innovation. Additionally, the trading volume on decentralized exchanges in this chain decreased by 21% in the past week.
Now, if the new narrative is well received by users, demand for AERO may rise again. In this case, this cryptocurrency could test the $0.414 resistance, and if an uptrend begins, price levels of $0.47 and $0.54 will be attainable. However, if selling pressure continues, the key support level of $0.36 will be crucial. Breaking this level could lead to a price drop to $0.34 and even $0.28.
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