Amid increased price volatility in the cryptocurrency market, the Solana price has successfully regained momentum and has surged 10.56% within the past seven days. With this, the altcoin has surpassed the market cap of Binance (BNB) coin and has claimed the position of the 4th largest crypto token.
Following this, top SOL-based altcoins have experienced a similar price action and have recorded a massive surge in their respective portfolios. With the present market sentiments, will the Solana ecosystem regain its lost momentum and head toward a new high?
Dive in as, in this article, we have uncovered the top three Solana-based altcoins that have a high potential of recording a massive upside in their respective portfolios.
Jito (JTO):
The Jito token has successfully regained momentum and has recorded a surge of approximately 10% within the past 24 hours and 15.03% over the past week. Furthermore, it has gained 34.52% within the past 30 days and has rewarded its long-term investors with a YTD return of 70.92%.
The technical indicators, SMA, and MACD displayed a strong bullish rise in their respective charts in the 1D time frame. This highlights an increase in the positive influence in the crypto space.
If the market holds the JTO price above its support level of $3.010, the bulls will continue trading under a bullish sentiment and prepare to test its upper resistance level of $3.80 in the coming time. Conversely, a trend reversal could pull the Jito price toward its low of $2.260.
Jupiter (JUP):
The Jupiter price has continued trading under a bullish sentiment by adding 13.18% to its portfolio within the past day with a trading volume of $167.627 Million. Further, it has surged 11.71% within the past seven days and 48.04% since its inception.
The Relative Strength Index (RSI) has recorded a bullish convergence with its average trendline and has displayed a sharp rise toward its overbought range in the Jupiter price chart. This suggests that the JUP price will continue gaining 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 coming time. However, if the bears regain momentum, the Jupiter crypto could retest its support level of $0.8445.
The Graph (GRT):
After trading under a bearish sentiment for a brief period, the GRT price has recorded a jump of approximately 3%. Moreover, with a trading price of $0.1998 and a market capitalization of $1.910 Billion, it has secured the 51st spot in the top 100 cryptocurrencies by market cap.
The EMA 50-day acts as a resistance to the GRT price in the 1D time frame, indicating a strong bearish power in the crypto space.
Further, the MACD indicator has displayed a constant decline in the green histogram. However, its averages record a neutral trend, suggesting uncertainty in the future price action of The Graph token.
Maintaining the price above its important support level could set the stage for the GRT price to head toward its upper resistance level of $0.2650. Negatively, a bearish situation could result in The Graph price plunging toward its crucial support level of $0.1375.
Credit: Source link
