The post Must Buy Altcoins Based on the Ethereum-Killer Solana Network appeared first on Coinpedia Fintech News
With Solana’s dominance over the decentralized crypto market growing significantly, the top dApps over Solana are gaining momentum. With a strong breakout or reversal rally among its top performers, here are the top Solana-based altcoins for a 2x rally this week.
Solana-Based Altcoins To Watch Out:
Jupiter (JUP)
Starting with Jupiter, the Solana-based altcoin shows a bullish breakout of its long-coming falling wedge pattern. With growing results, the bullish breakout teases a golden crossover between the 50-day and 200-day EMA.
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Based on the Fibonacci levels, the reversal rally is ready to challenge the 50% Fibonacci level at the psychological mark of $1. Supporting the bullish trend, the daily RSI line is ready to enter the overbought category.
Furthermore, the Jupiter exchange has hit a new total volume log of $1.55 billion. Hence, as the bullish momentum grows, the uptrend is likely to hit the $3 mark at the $1.618 Fibonacci level.
Curious to know if the JUP price will reach $10. Find out now in Coinpedia’s Jupiter Price Prediction for 2024-2030.
Raydium (RAY)
With an exponential rally in the daily chart, the Solana-based altcoin Radium is on a bullish roll. Fueling the bull run, the Raydium Protocol surpassed Uniswap
in 24H DEX volume to become the biggest DEX across all chains while entirely and solely operating on Solana.
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In the daily chart, the bullish trend accounts for a massive surge of 126% in the past two months. While bouncing back from the crucial support at $1.38, the bullish turnaround leads to a jump to the 1.618 Fibonacci level at $3.51.
Currently, the Solana-based altcoin is trading at $3.4341 with an intraday pullback of 1.26%. This comes after the massive 16% jump last night. If the uptrend continues, the next potential target for the altcoin remains at $4.82 and $6.14 at $2.618 and $3.618 Fibonacci levels, respectively.
Jito Finance (JTO)
Despite the lower-high formation in the daily chart, Jito Finance is preparing for a bullish turnaround. The Solana-based altcoin has surpassed the 200-day EMA and a crucial resistance trendline.
Tradingview
With three consecutive bullish candles, the altcoin has increased by nearly 50% and is close to challenging the 23.60% Fibonacci level. Furthermore, the growing bullish influence is a golden gauze between the 200-day and 50-day EMA.
As the bullish momentum grows, the trend-line breakout rally could reach the 78.60% Fibonacci level, slightly near the starting of the resistance trend line at $4.238. Meanwhile, a crucial resistance stands at the 50% Fibonacci level at $3.38.
