Sohrab Khawas
With the crypto market sustaining above the $2 Trillion cap, Bitcoin and altcoins are paving the way for a new bull run. As the broader market recovery continues to gain momentum, these Solana-based altcoins are posed for massive gains.
While the Solana network gives recovery signals and the SOL token aims to surpass $150, the smart money is turning bullish this week. So, let’s look closer at the top Solana-based altcoins to watch out as the broader crypto market recovers.
Solana-based Altcoins To Watch Out: Jupiter (JUP)
With a market cap of $1 Billion, the JUP token price reveals a bullish recovery in motion. The bull cycle within a falling wedge pattern teases a breakout rally on the verge.
Initiating a bullish surge from the 78.60% Fibonacci level, the Solana-based altcoin reflects a rise in demand. The JUP token price is up by 14% in two days and makes two consecutive bullish candles.
If the bullish momentum sustains to ignite a breakout rally, then the Jupiter token price can surpass the $1 psychological mark. On the upside, $1.25 and $1.50 are potential upside targets for the JUP token.
Raydium (RAY)
With a sideways trend in the daily chart, the Raydium token price reveals a long consolidation under formation. While taking support from the 200D EMA, the lower price rejections are visible in this Solana-based altcoin.
With the ongoing bull cycle, the RAY price makes three consecutive positive candles and is up 17 within 72 hours. As it challenges the 50% retracement, the upside potential increases with increased breakout chances as the crypto market recovers.
With the overhead resistance breakout rally, the Raydium token price could target the $2.69 peak.
Pyth Network (PYTH)
With a market cap of $1 Billion, the PYTH price trend shows a bullish trend ready to kickstart with a trendline breakout. As this Solana-based altcoin teases an end-of-correction phase, the upside potential is massive for Pyth Network.
With a bullish continuation in the MACD and signal lines, the trendline breakout rally makes it a token worth looking out. As per the Fibonacci retracement levels, the breakout rally could face resistance at the 50% level at $0.67.
Optimistically, the breakout run could reach $1.
