Markets
Top Solana-Based Altcoins to Buy as Crypto Market Recovers
With the cryptocurrency market holding above the $2 trillion threshold, Bitcoin and altcoins are paving the way for a new bull run. As the broader market rally continues to gain steam, these Solana-based altcoins are positioned for massive gains.
As the Solana network shows signs of recovery and the SOL token aims to surpass $150, smart money is turning bullish this week. So, let’s take a closer look at the top Solana-based altcoins to keep an eye on as the broader crypto market recovers.
Solana-Based Altcoins to Watch: Jupiter (JUP)
With a market cap of $1 billion, the JUP token price reveals a bullish recovery in motion. The bullish cycle within a falling wedge pattern triggers a breakout rally on the verge.
Starting a bullish surge from the 78.60% Fibonacci level, the Solana-based altcoin reflects an increase in demand. The JUP token price is up 14% in two days and makes two consecutive bullish candles.
If the bullish momentum holds to ignite a breakout rally, then the Jupiter token price could break above the psychological $1 mark. On the upside, $1.25 and $1.50 are potential upside targets for the JUP token.
Raidium (RAY)
With a sideways trend on the daily chart, the Raydium token price reveals a long consolidation in the making. While receiving support from the 200D EMA, lower price rejections are visible on this Solana-based altcoin.
With the bullish cycle underway, RAY price makes three consecutive positive candles and is up 17 in 72 hours. As it challenges the 50% retracement, the upside potential increases with higher breakout chances as the crypto market recovers.
With the breakout of the overhead resistance, the Raydium token price may peak at $2.69.
Pyth Network (PYTH)
With a market cap of $1 billion, PYTH’s price action is showing an uptrend that is set to begin with a breakout of the trendline. As this Solana-based altcoin begins a phase of correction, the upside potential for Pyth Network is huge.
With bullish continuation on the MACD and signal lines, the trendline breakout rally makes it a token worth keeping an eye on. According to Fibonacci retracement levels, the breakout rally may face resistance at the 50% level at $0.67.
Optimistically, the breakout could reach $1.