Altcoins
Top Solana-Based Altcoins Stack Up As Market Turns Bullish!
In a context of increased price volatility in the cryptocurrency market, Solana Price managed to regain its momentum and jumped 10.56% in the last seven days. With this, the altcoin surpassed the market capitalization of Binance Coin (BNB) and claimed the position of the 4th largest crypto token.
Following this, major SOL-based altcoins have seen similar price action and have registered a massive surge in their respective portfolios. With the current market sentiments, will the Solana ecosystem regain its lost momentum and head towards a new high?
Dive into this article as we uncover the top three Solana-based altcoins that have a high potential to see massive upside in their respective portfolios.
Jito (JTO):
The Jito token has managed to regain momentum and has registered an increase of around 10% in the last 24 hours and 15.03% in the last week. Moreover, it has 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
Technical indicators, SMA and MACD, have shown a strong bullish trend on their respective charts during the 1D time frame. This highlights an increase in positive influence in the crypto space.
If the market sustains JTO price above its support level of $3.010, the bulls will continue to trade in a bullish mood and prepare to test its upper resistance level of $3.80 in the coming time. Conversely, a trend reversal could pull Jito price towards its low of $2.260.
Jupiter (JUP):
Jupiter price continued to trend in a bullish mood by adding 13.18% to its portfolio over the past day with a trading volume of $167.627 million. Additionally, it has surged 11.71% over the past 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 posted a sharp rise towards its overbought zone on 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 $1.160 resistance, the altcoin will gear up to test its higher high of $1.4950 in the coming time. However, if the bears regain momentum, the Jupiter cryptocurrency could retest its $0.8445 support level.
The graph (GRT):
After having evolved in a bearish climate for a brief period, the GRT Price recorded an increase of about 3%. Moreover, with a trading price of $0.1998 and a market capitalization of $1.910 billion, it secured the 51st place in the top 100 cryptocurrencies by market capitalization.
TradingView: GRT/USDT
The 50-day EMA acts as a resistance to GRT price in the 1D time frame, indicating strong bearish power in the crypto space.
Additionally, the MACD indicator has been showing a steady decline in the green histogram. However, its averages are recording a neutral trend, suggesting uncertainty about the future price development of The Graph token.
Sustaining the price above its important support level could pave the way for GRT price to head towards its upper resistance level of $0.2650. Negatively, a bearish situation could result in The price of the chart dipping towards its crucial support level of $0.1375.