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A momentum indicator recently flipped bullish for Solana (SOL), according to a popular crypto analyst.

Ali Martinez tells his 70,400 followers on the social media platform X that the top Ethereum (ETH) rival’s Tom DeMark (TD) Sequential Indicator presented a buy signal on the asset’s daily chart.

Source: Ali Martinez/X

Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles.

Martinez says SOL “could rebound from the channel’s lower boundary toward the middle or upper boundaries, positioned at $154 and $187 respectively.”

SOL is trading at $123.22 at time of writing. The 5th-ranked crypto asset by market cap is down nearly 6% in the past 24 hours and nearly 10% in the past seven days.

The analyst does caution, however, that a sustained close below the channel’s lower boundary at $126 could trigger a significant price correction for SOL, pushing the asset down to the $90-$110 range.

Martinez also notes that the digital asset market is currently registering “extreme fear,” citing the Crypto Fear & Greed Index, a tool that gauges market sentiment on a scale from 0-100.

Source: Ali Martinez/X

A reading of extreme fear can indicate oversold conditions, while a reading of extreme greed suggests overbought conditions.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Momentum Indicator Flips Bullish for Ethereum Rival Solana, According to Crypto Analyst – Here Are His Targets appeared first on The Daily Hodl.

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JPMorgan Chase CEO Jamie Dimon says he supports changes to the tax code that would give working Americans and their families more relief from the IRS.

In a new interview with PBS NewsHour, Dimon says the Earned Income Tax Credits (EITC) should be expanded and apply to all low and mid-income workers, regardless of whether they have children.

“Right now, if you’re a single mother with two children making $14,000 a year, the government gives you $6,000. A lot of people don’t avail themselves of this because they may not know about it.

I would get rid of the child requirement. I would make the benefit $10,000, so that anyone working would make $24,000.

That money would go to the families. It would go into their communities. It would be spent the way they think it should be spent without government interference. I think it would be exceptional.” 

The current Earned Income Tax Credit (EITC) system offers refundable tax credits to low and moderate-income workers, with the amount depending on income, filing status and number of qualifying children.

The credit phases out as income increases, with 2023 caps around $17,640 for single filers without children and $63,398 for married filers with three or more children, beyond which the credit is no longer available.

Dimon has previously stated that he’d fund EITC changes by raising taxes on the wealthy.

According to Dimon, giving additional benefits to low-income earners could transform families and communities by stimulating the local economy and giving struggling Americans the opportunity to stand on their own feet.

“Jobs create dignity. So you incentivize jobs, jobs create dignity, jobs create better outcomes for families, less crime, less drugs and you would incentivize people back in the workforce.”

The latest data from the Bureau of Labor Statistics shows that 7.1 million Americans are unemployed as of August 2024.

Meanwhile, data-gathering platform Statista shows that 8.3% of Americans are earning under $15,000 per year as of 2022.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $10,000 Tax Bonus Should Be Handed To Struggling American Workers Every Year, Says JPMorgan Chase CEO appeared first on The Daily Hodl.

The post Traders Alert! Tron (TRX) Set for 10% Price Surge, Here’s Why appeared first on Coinpedia Fintech News

After a continuous price drop of over 12% in recent days, Tron (TRX) is now poised for an upside rally, as its price action and on-chain metrics hint at bullishness. Following its breakout of a strong resistance level of $0.145 has soared more than 16% and never retested.

Tron Successful Breakout Retest 

With the recent market decline, it has successfully retested its breakout area and is now experiencing an upside move with a strong daily candle. 

At press time, TRX is trading near the $0.151 level and has experienced a price surge of over 3% in the last 24 hours. Meanwhile, its trading volume has dropped by 17% during the same period. This decline in trading volume may be due to the highly volatile market and bearish sentiment. 

Tron Price Prediction 

According to expert technical analysis, unlike major cryptocurrencies, TRX appears bullish and is trading above the 200 Exponential Moving Average (EMA) in a four-time frame, indicating an uptrend. Additionally, the formation of a doji candle at the support level and the 200 EMA further hints at bullishness. 

Source: Trading View

TRX has successfully broken out of a descending trendline and is currently facing a small resistance level near $0.152. Based on historical price momentum, if TRX closes a candle above this resistance level, there is a high possibility that it could soar by 10% to the $0.167 level.

Bullish On-Chain Metrics 

CoinGlass’s TRX Long/Short ratio signals a bullish sentiment. According to the data, the ratio currently stands at 1.0509, indicating bullish sentiment (a value above 1 signifies this). Meanwhile, 51.24% of traders own long positions, while 48.7% hold short positions. 

Source: CoinGlass

On the other hand, TRX’s open interest has increased by 8% in the last 24 hours, signaling the buildup of more long positions during this period. Combining the bullish long/short ratio with rising open interest suggests a strong buying opportunity. Traders often combine these data while building long/short positions.

Image: Apple

The iPhone 16 is nigh as Apple prepares to debut its next smartphone lineup on Monday, September 9th, at 1PM ET / 10AM PT. The company is expected to officially announce four phones as usual, with two standard iPhone 16s and two iPhone 16 Pro models, all likely packed with Apple Intelligence AI features.

You can catch the livestream at Apple’s own website, on its YouTube channel, and even on an Apple TV. (Apple usually makes sure you see this when you scroll from the home screen of the Apple TV app, but you can search for “Apple Event” to find it, too.)

The Vergecast talks iPhone 16.

Besides new iPhones, Apple will probably declare the release dates for its next major software updates, including iOS 18, iPadOS 18, macOS 15 Sequoia,…

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