Markets
Top Solana-Based Altcoins to Buy as Crypto Market Recovers
As the cryptocurrency market holds above the $2 trillion cap, Bitcoin and altcoins are leading the way for a new bull run. As the broader market rally continues to gain momentum, these Solana-based altcoins are poised for massive gains.
As the Solana network shows signs of recovery and the SOL token aims to break above $150, savvy investors are turning bullish this week. So, let’s take a closer look at the top Solana-based altcoins to watch as the broader cryptocurrency market recovers.
Solana-Based Altcoins to Watch: Jupiter (JUP)
With a market cap of $1 billion, the JUP token price is revealing an ongoing bullish recovery. The bullish cycle within a falling wedge pattern suggests a breakout rally on the horizon.
By initiating a bullish surge from the 78.60% Fibonacci level, the Solana-based altcoin reflects a surge in demand. The JUP token price has increased by 14% in two days and is forming two consecutive bullish candles.
If the bullish momentum continues to trigger a rally, Jupiter token price may then break above the psychological $1 mark. On the upside, $1.25 and $1.50 are potential upside targets for JUP token.
Raydium (RAY)
With a sideways trend on the daily chart, Raydium token price reveals a long consolidation in the making. While benefiting from the support of the 200D EMA, lower price rejections are visible in this Solana-based altcoin.
With the bullish cycle underway, RAY price forms three consecutive positive candles and increases by 17 in 72 hours. As it defies the 50% retracement, the upside potential increases with increased chances of a breakout as the cryptocurrency market recovers.
With the overhead resistance broken, Raydium token price could target the $2.69 peak.
Pyth Network (PYTH)
With a market cap of $1 billion, PYTH’s price action shows a bullish trend ready to kick off with a breakout of the trendline. As this Solana-based altcoin teases an end-of-correction phase, the upside potential is huge for Pyth Network.
With a bullish continuation of the MACD and signal lines, the breakout rally from the trendline makes it a token to watch. According to the Fibonacci retracement levels, the breakout rally could face resistance at the 50% level at $0.67.
Optimistically, the breakout could reach $1.