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.
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.
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.
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.