The crypto market has been facing significant pressure recently due to Bitcoin’s rising dominance. Since December, BTC dominance has surged from 54.96% to 61.61%, leading to massive corrections across the altcoin sector. Microeconomic uncertainties, like the new trade tariffs, also fueled market volatility. Amid the affected altcoins was Solana, which now shows signs of recovery after bouncing off a key support level.
According to Jonathan Carter, the Solana price has been forming an ascending triangle pattern on the daily chart, which is often seen as a bullish setup. Meanwhile, standing at the intersection of the ever-growing gaming sector and the viral nature of meme coins, ChowWow (CHOW) is looking to revolutionize a highly saturated marketplace. The Solana-based project seeks to add an extra layer of engagement and value to the gaming experience, which could trigger massive adoption in the two sectors while increasing the CHOW token value in the coming months.
Solana Rebounds From Key Support Level, Triggering A Recovery Phase?
After testing the lower support of the ascending triangle pattern at $190, Solana’s price has rebounded to higher levels, hovering above the $201 region. The immediate key hurdle lies within the 50-day SMA, which might trigger more upside momentum. If Solana’s price breaks past this level, it will confirm a bullish trend and attract fresh buying interest.
Holding above this level will push the Solana price toward $222 and $240. These levels represent key resistance zones that traders should be closely watching. A successful rally will extend toward mid-term targets at $262 while potentially eying the $296 level. On the other hand, failure to reclaim the 50-day MA might result in further consolidation in the price of Solana, with support around the $190 remaining significant for maintaining the current structure.
According to the trader, a successful rally in Solana’s price could see the SOL token hit the $565 region. He noted that the SOL price will hit the target once the ascending triangle completely forms. Technical indicators also show promising signs: the RSI hits 44, and the Momentum indicator signals a growing buying signal.
ChowWow (CHOW): The Play-to-Earn Meme Coin Revolutionizing the GameFi Sector
With the crypto space witnessing a rally in meme tokens, the likes of Dogecoin leading the way, ChowWow (CHOW) enters this unique domain with the vision of enhancing the meme coin experience by utilizing the SOL blockchain’s advanced features. ChowWow features play-to-earn and stake-to-earn capabilities backed by faster transaction speeds than the traditional Ethereum-based meme coins.
Moreover, the project has been built with the community in mind, allowing it to incorporate features like airdrops and gaming to expand and develop a unique community base. Around 5% and 10% of all the tokens will be allocated for community and initial gaming rewards, respectively. This move aims to promote community engagement while adding to the sustainability and stability of the gaming platform.
With the GameFi market looking to rally by 26.6% by 2031, Chow Wow is better positioned to capitalize on this booming scene. The project will also feature a staking model where CHOW holders can earn between 8% and 15% APY. Chow Wow will also feature added utility with the staking features designed to encourage stability and loyalty among its community. Just in stage one of its presale, where the token is going for $0.008, ChowWow provides early-stage access for investors looking to capitalize on the dog-themed meme coin that stands for prosperity, good fortune, and guardianship.
Can ChowWow Mirror Solana’s Price Movement In 2025?
Solana is on track to recover lost gains during the recent dip, which saw many altcoins dip significantly. This rally will also benefit from a meme coin launched within the SOL blockchain. ChowWow has already received a warm welcome in just stage one of its presale. It seeks to revolutionize the GameFi sector while utilizing Solana’s blockchain speed and affordability.
