Amid the recent crypto market crash, the Solana ecosystem shows resilience. This article covers the market sentiments, price analysis, and potential short-term targets of Solana and Solana-based altcoins, highlighting their investment potential during the current bull run.
Points
- Solana price shows a strong bullish jump with a 13.84% increase in the past 24 hours.
- Chainlink price recovers with an 8.53% increase, reclaiming the $10 mark.
- Dogwifhat price jumps approximately 15%, highlighting a potential bullish reversal.
- The Graph price shows an 11.05% increase, indicating potential for a continued upward trend.
Solana （SOL） Price Action
The SOL price has recorded a strong bullish jump, adding 13.84% within the past 24 hours, with a trading volume of $12.270 billion. Despite a correction of 22.69% over the past week, SOL is valued at $140.49 with a market cap of $65.63 billion. The Relative Strength Index （RSI） has retested its oversold range, but the average trendline indicates a downtrend, highlighting future price uncertainty. However, the MACD indicator shows a rise in the red histogram, with a sharp drop in the averages.
If the market continues trading under bullish sentiment, the SOL price may retest its upper resistance level of $181 this month. Conversely, if the bears dominate, Solana could retest its crucial support level of $127.
Chainlink （LINK） Price Action
With a jump of 8.53% within the past day, Chainlink’s price has reclaimed the $10 mark. At $10.04, this altcoin holds the 16th position in the global crypto-list with a market cap of $6.100 billion. Despite increased price action, the MACD indicator displays a rise in the negative histogram, highlighting mixed sentiment for LINK.
If the market holds the Chainlink price above its support level of $9.55, bulls may regain momentum, aiming for the upper resistance level of $16.20. However, a bearish action could result in a new yearly low.
Dogwifhat （WIF） Price Action
Despite increased price volatility, the WIF price has recorded bearish action for the past 10 days. However, with a bullish recovery, this altcoin jumped approximately 15% within the past 24 hours, highlighting a high possibility of a bullish reversal.
The technical indicator RSI hovers close to its oversold range, with its average showing bearish convergence. The SMA continues to act as resistance, suggesting a negative outlook for WIF this week. If a bullish trend reversal occurs, Dogwifhat may test its upper resistance level of $3. Conversely, if bears dominate, WIF may plunge toward its low of $0.60.
The Graph （GRT） Price Action
Despite a correction of 27.92% within the past week and 24.27% over the past month, the GRT price surged 11.05% within the past 24 hours, with a trading volume of $119.510 million, a change of -26.42%.
The Simple Moving Average （SMA） has acted as a resistance to the Graph price chart in the 1D time frame, highlighting a strong bearish sentiment in the crypto space. Additionally, the MACD recorded negative action, suggesting the GRT price may continue losing momentum this week. Maintaining the GRT coin price above its important support level of $0.1375 will set the stage to test its upper level of $0.1980. Conversely, if bulls fail to regain momentum, the Graph token may drop to its low of $0.0800.
解説
- Solana’s strong bullish action indicates investor confidence and potential for further gains.
- Chainlink’s recovery highlights mixed market sentiment, with critical support and resistance levels influencing its price action.
- Dogwifhat’s recent price jump suggests a potential bullish reversal, although technical indicators show continued bearish pressure.
- The Graph’s price surge amid a bearish sentiment underscores the importance of support levels for future price action.
- These Solana-based altcoins offer diverse investment opportunities amid market volatility, highlighting the potential for significant returns during a bull run.