Markets
Major Solana-Based Altcoins Pile Up as Market Turns Bullish!
Amid increasing price volatility in the cryptocurrency market, Price Solana has successfully regained momentum and is up 10.56% in the last seven days. With this, the altcoin has surpassed the market capitalization of Binance Coin (BNB) and has claimed the position of the 4th largest crypto token.
Following this, major SOL-based altcoins experienced similar price action and saw massive surges in their respective portfolios. With the current market sentiments, will the Solana ecosystem regain its lost momentum and head towards a new high?
Read on because in this article we have discovered the top three Solana-based altcoins that have a high potential to see a huge rally in their respective portfolios.
Jito (JTO):
Jito token has successfully regained momentum and has surged by about 10% in the last 24 hours and 15.03% in the last week. It has also gained 34.52% in the last 30 days and has rewarded its long-term investors with a YTD return of 70.92%.
TradingView: JTO/USDT
The technical indicators, SMA and MACD have shown a strong bullish rally on their respective charts in the 1D time frame. This highlights an increase in positive influence in the crypto space.
If the market holds JTO price above its $3,010 support level, the bulls will continue trading under a bullish sentiment and prepare to test its upper resistance level of $3.80 in the near future. On the contrary, a reversal in the trend could push Jito price towards its low of $2,260.
Jupiter (JUP):
Jupiter price continued to trade under bullish sentiment adding 13.18% to its portfolio in the last day with a trading volume of $167.627 million. Furthermore, it has increased by 11.71% in the last seven days and 48.04% since its inception.
TradingView: JUP/USDT
The Relative Strength Index (RSI) has registered a bullish convergence with its average trendline and has shown a sharp rise towards its overbought range in the Jupiter price chart. This suggests that JUP price will continue to gain momentum this weekend.
If the bulls push the JUP coin price above its resistance of $1,160, the altcoin will prepare to test its upper high of $1.4950 in the near future. However, if the bears regain momentum, Jupiter cryptocurrency might retest its support level of $0.8445.
The graph (GRT):
After operating in a bearish climate for a short period, the GRT Price has seen a jump of around 3%. Furthermore, with a trading price of $0.1998 and a market cap of $1.910 billion, it has secured the 51st spot among the top 100 cryptocurrencies by market cap.
TradingView: GRT/USDT
The 50-day EMA is acting as a resistance to GRT price in the 1D time frame, indicating strong bearish power in the cryptocurrency space.
In addition, the MACD indicator has shown a steady decline in the green histogram. However, its averages are trending neutral, suggesting uncertainty in the future price action of The Graph token.
Holding the price above its important support level could set the stage for GRT price to head towards its upper resistance level of $0.2650. Negatively, a bearish situation could result in The price chart plummeting towards its crucial support level of $0.1375.