Top 10 Solana-based To Buy With Solana ETF Rumor!
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The Solana price has recorded a significant correction in its portfolio over the past few days, indicating a rising bearish sentiment for the altcoin in the market. Reportedly, the SOL price has lost approximately 5% within the past day, resulting in its value plunging below the $125 mark.
However, with the rising speculations of a potential Solana ETF in the crypto market, will SOL-based altcoins record a strong bullish comeback in the coming time?
In this article, we have covered the top 10 Solana-based altcoins that have a very high potential to record significant surges in their respective portfolio amid the Solana ETF rumor.
Dogwifhat (WIF):
Amid ongoing cryptocurrency market correction, the WIF memecoin has recorded a drop of 5.60% within the past day and approximately 30% over the past seven days. Furthermore, it has plunged 45.29% over the past 30 days, indicating a long-term bearish sentiment in the crypto space.
The SMA indicator constantly acts as a resistance to the price chart, suggesting a weak bullish sentiment for the dogwifhat price in the crypto space. Moreover, the MACD continues to display a constant red histogram, indicating that WIF crypto will continue losing value this week.
If the market regains momentum, the WIF memecoin will experience a bullish reversal and prepare to test its upper resistance level of $3.990 in the coming time. Conversely, if the bears continue to dominate the market, the dogwifhat token will plunge toward its crucial support of $1.
Serum (SRM):
The Serum price has continued to trade under a bearish sentiment by losing 5.55% within the past seven days and 18.08% over the past 30 days. Furthermore, the altcoin has erased 54.39% from its portfolio this year, highlighting a strong bearish sentiment for this crypto token.
The Relative Strength Index (RSI) has repeatedly failed to break out of its neutral point, indicating weak buying and selling pressure for the Serum crypto in the market. However, the SMA has displayed a high possibility of a bullish convergence, suggesting a mixed sentiment.
If the bulls overpowered the bears, the SRM coin price would break out of its resistance level and prepare to test its upper high of $0.05415. Negatively, if the bears hold control over the bulls, the Serum price will plunge toward its crucial support level of $0.030.
Helium (HNT)
With a trading volume of $4.27 Million within the past day, the Helium price has lost 6.82% in valuation. Moreover, the altcoin has dropped 22.76% within the past 30 days and has recorded a YTD return of -53.77% in valuation.
The MACD displays a constant flatline in its price chart with its averages recording a similar trend. This indicates a rising disinterest of investors in this altcoin. On the other hand, the EMA 50/200-day shows a constant decline, suggesting a negative outlook for the Serum token.
In case, the SRM price holds its value above the resistance level of $3.80, the bulls will regain momentum and prepare to test its upper resistance level of $6.525. However, if the bulls fail to gain power, the Serum token will drop toward its support level of $2.510.
Band Protocol (BAND)
With a market capitalization of $154.516 Million, the BAND crypto has successfully secured the 268th position in the global cryptocurrency market list. However, the altcoin has plunged 35.63% within the past 30 days and has a YTD of -51.20%.
The technical indicator, RSI, continues to trade in the oversold range, highlighting a strong bearish sentiment in the market. Furthermore, the average has displayed a constant downtrend, indicating the BAND price will continue trading under a bearish sentiment.
If the market holds the Band Protocol price above its crucial support level of $1.041, the bulls will gain charge and prepare to head toward its upper level of $2. Conversely, if the bears gain momentum, the BAND crypto will plunge toward its new yearly lows.
GMT (GMT):
Reportedly, the GMT price has recorded a surge of 140% in its 24-hour trading volume. However, the altcoin has lost 3.01% within the past day and 30.39% over the past 30 days. With a market cap of $329.74 Million, the GMT coin price has erased 51.09% from its portfolio since the year started.
Despite the technical indicator constantly acting as a resistance to the price chart, the MACD has recorded a steady decline in the red histogram with its averages hinting at a potential bullish convergence. This suggests a mixed sentiment for the GMT price in the crypto market.
With a bullish reversal, the GMT coin price would record a positive breakout and head toward its upper resistance level of $0.280. However, in case of a bearish action, the GMT crypto could plunge toward its low of $0.1125 in the coming time.
Audius (AUDIO):
The AUDIO price has recorded a drop of 6.91% in valuation within the past day and 12.05% over the past week. Moreover, the altcoin has lost 38% over the past 30 days and has recorded a Year-to-Date (YTD) loss of 44.90% to its long-term investors.
The Relative Strength Index (RSI) has displayed a constant downtrend since the month started, highlighting strong selling pressure in the crypto market. Further, the EMA 50-day acts as a resistance to the price chart, suggesting uncertainty in future price movement.
If the bulls hold the Audius coin price above its crucial support level of $0.140, the altcoin will prepare to test its upper resistance level of $0.2270. Negatively, if the bears continue to gain control, the AUDIO price will plunge toward its low of $0.0975.
Pyth Network (PYTH):
Despite recording a 2X surge in its trading volume, the PYTH price has dropped 5.33% within the past day and 10.34% over the past week. Moreover, this SOL-based altcoin has plunged by 31.55% within the past 30 days and has recorded a loss of 15.08% this year.
The technical indicator MACD displays a constant decline in the chart with its averages recording a high possibility of a bullish convergence. However, the SMA displays a negative trend, suggesting uncertainty in future price action of the Pyth Network.
If the bears overpowered the bulls, the Pyth Network price would drop toward its low of $0.2580. Positively, if the market experiences a bullish reversal, the PYTH price will prepare to test its upper resistance level of $0.5430 during the upcoming weeks.
The Graph (GRT):
Amid ongoing cross-border market correction, the GRT price has recorded a correction of 4.47% within the past 24 hours and 6.08% over the past week. Notably, the Artificial Intelligence (AI) token has plunged 37.51% within the past 30 days and has a Year-to-Date (YTD) return of -5.16% in valuation.
The RSI indicator is on the verge of testing its oversold range, indicating a weak price action for the GRT price in the market. Furthermore, the EMA 50/200-day records a high possibility of a Death Cross in the 1D time frame, suggesting a negative outlook for the Graph price in the coming time.
In case of a bullish reversal in the price chart, the GRT coin price will prepare to retest its upper resistance level of $0.3550. However, bearish price action could pull The Graph token toward its lower support level of $0.1250.
BOOK OF MEME (BOME):
Top memecoins have recorded significant corrections in their respective portfolios. With this, the BOME price has lost 7.83% in spite of recording a surge of 78.29% in its trading volume. Furthermore, this meme token has erased approximately 33% of its portfolio within the past 30 days.
The Moving Average Convergence Divergence displays a constant decline in the red histogram with its averages showing a decreased bearish sentiment. With SMA constantly acting as a resistance, the volatility in the crypto space is on a constant rise.
If the bulls hold the BOME memecoin above its crucial support level of $0.007525, it will run to test its upper high of $0.015175. Negatively, if the bears continue to dominate the market, the BOOK OF MEME price will plunge toward its low of $0.0010.
GameStop (GME):
The GME price has experienced a significant correction in its valuation after recording a massive surge in its valuation during the memecoin mania. Notably, the GameStop price has erased 10.90% in valuation within the past day and has plunged 43.66% over the past 30 days.
The technical indicator, RSI, displays a flatline in the price chart, suggesting weak buying and selling pressure for the GME price in the crypto market. However, the SMA indicator records a sharp decline, indicating a mixed sentiment in the cryptocurrency market.
If the market pushes the GameStop price above the resistance level of $0.00796, the bulls will regain momentum and prepare to test its upper high of $0.01736. Conversely, a bearish reversal could pull the GME coin price toward its lower support level of $0.00349.
Conclusion:
The volatility in the cryptocurrency market is on a constant rise. Further, with the top tokens hovering close to their multi-month low, this can turn out to be a good entry point for investors to stack more tokens for the upcoming bull rally.
Investing in cryptocurrencies is highly risky as the market is extremely volatile at this point. Moreover, make sure to do your own research before investing in any digital asset.
Note: This article is not subjected to any financial advice/tip and was made for research purposes only. Further, tokens selected for this article are not promotional are were selected based on their historic market and social sentiments.
Also Read: Top 10 Layer-1 Crypto Projects With 10x Gains Potential in 2024
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Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
