Solana
Top 10 Solana-Based To Buy With Solana ETF Rumor!
THE Solana Price has recorded a significant correction in its portfolio over the past few days, indicating a growing bearish sentiment for the altcoin in the market. Apparently, the SOL Price lost around 5% over the past day, causing its value to drop below the $125 mark.
However, with growing speculation about a potential Solana ETF In the crypto market, will SOL-based altcoins register a strong bullish comeback in the coming times?
In this article, we have covered the top 10 Solana-based altcoins that have a very high potential to see significant increases in their respective portfolios amid the rumored Solana ETF.
Dog Hat (WIF):
Amid the ongoing correction in the cryptocurrency market, memecoin WIF recorded a decline of 5.60% over the past day and around 30% over the past seven days. Furthermore, it has plunged 45.29% over the past 30 days, indicating long-term bearish sentiment in the crypto space.
The SMA indicator constantly acts as resistance to the price chart, suggesting weak bullish sentiment for dogwifhat price in the crypto space. Additionally, the MACD continues to display a consistent red histogram, indicating that the WIF crypto will continue to lose 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 times. Conversely, if the bears continue to dominate the market, the dogwifhat the token will plunge towards its crucial support of $1.
Serum (SRM):
THE Serum price continued to move in a bearish sentiment losing 5.55% over the last seven days and 18.08% over the last 30 days. Additionally, the altcoin has wiped out 54.39% of its portfolio this year, highlighting 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 showed a strong possibility of bullish convergence, suggesting mixed sentiment.
If the bulls overpower the bears, SRM coin price would break out from its resistance level and prepare to test its high of $0.05415. Negatively, if the bears control the bulls, Serum price will plunge towards its crucial support level of $0.030.
Helium (HNT)
With a trading volume of $4.27 million over the past day, the Helium price lost 6.82% in valuation. Additionally, the altcoin has fallen 22.76% over the past 30 days and has returned -53.77% year-to-date.
The MACD displays a consistent flat line in its price chart, with its averages recording a similar trend. This indicates a growing disinterest among investors in this altcoin. On the other hand, the 50/200 day EMA shows a steady decline, suggesting a negative outlook for the Serum token.
If SRM price maintains its value above the $3.80 resistance level, the bulls will regain momentum and prepare to test its higher resistance level of $6.525. However, if the bulls fail to gain power, the Serum token will fall towards its support level of $2,510.
Band Protocol (BAND)
With a market capitalization of $154.516 million, BAND crypto managed to secure the 268th position on the global cryptocurrency market list. However, the altcoin has plunged 35.63% over the past 30 days and has a YTD of -51.20%.
The technical indicator, RSI, continues to trade within the oversold range, highlighting strong bearish sentiment in the market. Additionally, the average has shown a steady downward trend, indicating that BAND price will continue to trade in a bearish sentiment.
If the market sustains Band Protocol price above its crucial support level of $1.041, the bulls will gain charge and prepare to head towards its higher level of $2. Conversely, if the declines gain momentum, the BAND crypto will plunge towards its new annual lows.
GMT (GMT):
Apparently, the GMT Price recorded a 140% increase in its trading volume over 24 hours. However, the altcoin lost 3.01% over the past day and 30.39% over the past 30 days. With a market capitalization of $329.74 million, the GMT coin price has wiped 51.09% of its portfolio year-to-date.
Although the technical indicator constantly acts as resistance to the price chart, the MACD has seen a steady decline in the red histogram, with its averages hinting at a potential bullish convergence. This suggests mixed sentiment regarding GMT price in the crypto market.
In the event of a bullish reversal, GMT coin price would register a positive breakout and head towards its upper resistance level of $0.280. However, in case of bearish action, the GMT crypto could plunge towards its low of $0.1125 in the coming times.
Audius (AUDIO):
THE AUDIO Price recorded a valuation drop of 6.91% over the past day and 12.05% over the past week. Additionally, the altcoin lost 38% over the past 30 days and recorded a cumulative loss of 44.90% for its long-term investors.
The relative strength index (RSI) has been showing a steady downward trend since the beginning of the month, highlighting strong selling pressure in the crypto market. Additionally, the 50-day EMA acts as resistance to the price chart, suggesting uncertainty over future price action.
If the bulls hold 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 take control, AUDIO price will plunge towards its low of $0.0975.
Pyth network (PYTH):
Despite a doubling of its transaction volume, the PYTH Price fell 5.33% over the past day and 10.34% over the past week. Additionally, this SOL-based altcoin has plunged 31.55% over the past 30 days and has recorded a loss of 15.08% this year.
The MACD technical indicator is showing a steady decline on the chart, with its averages registering a strong possibility of bullish convergence. However, the SMA is showing a negative trend, suggesting uncertainty over the future price action of the Pyth network.
If the bears overpower the bulls, Pyth Network price would drop to its all-time low of $0.2580. Positively, if the market experiences a bullish reversal, PYTH price will prepare to test its upper resistance level of $0.5430 over the coming weeks.
The graph (GRT):
In a context of ongoing cross-border correction on the markets, the GRT price recorded a correction of 4.47% in the last 24 hours and 6.08% in the last week. Notably, the artificial intelligence (AI) token has plunged 37.51% over the past 30 days and has a year-to-date return (YTD) of -5.16% in valuation.
The RSI indicator is about to test its oversold range, indicating weak GRT price action in the market. Additionally, the 50/200 day EMA registers a strong possibility of Death Cross in the 1D timeframe, suggesting a negative outlook for the Graph price in the coming times.
In the event of a bullish reversal in the price chart, GRT coin price will prepare to retest its upper resistance level of $0.3550. However, bearish price action could pull The Graph token towards its lower support level of $0.1250.
BOOK OF SAME (BOME):
Top memecoins have seen significant corrections in their respective portfolios. With this, BOME price lost 7.83% despite a 78.29% increase in its trading volume. Additionally, this meme token has wiped out around 33% of its portfolio in the last 30 days.
The moving average convergence divergence displays a steady decline in the red histogram, with its averages showing a decrease in bearish sentiment. With the SMA constantly acting as resistance, volatility in the crypto space is constantly increasing.
If the bulls hold the BOME memecoin above its crucial support level of $0.007525, it will attempt to test its high of $0.015175. Negatively, if the bears continue to dominate the market, BOOK OF MEME price will plunge towards its low of $0.0010.
GameStop (GME):
GME price saw a significant correction in its valuation after seeing a massive rise in its valuation during the memecoin mania. Notably, GameStop price erased 10.90% valuation over the past day and plunged 43.66% over the past 30 days.
The technical indicator, RSI, is showing a flat line in the price chart, suggesting weak buying and selling pressure for GME price in the crypto market. However, the SMA indicator is recording a sharp decline, indicating mixed sentiment in the cryptocurrency market.
If the market pushes GameStop price above the $0.00796 resistance level, the bulls will regain momentum and prepare to test its high of $0.01736. Conversely, a bearish reversal could pull GME coin price towards its lower support level of $0.00349.
Conclusion:
Volatility in the cryptocurrency market is constantly increasing. Additionally, with major tokens nearing multi-month lows, this may prove to be a good entry point for investors looking to stack more tokens for the next bull rally.
Investing in cryptocurrencies is very risky as the market is currently extremely volatile. Additionally, be sure to do your own research before investing in any digital asset.
Note: This article is not subject to any financial advice/tips and has been written for research purposes only. Additionally, the tokens selected for this article are not promotional and have been selected based on their historical market and social sentiments.
Read also: Top 10 Layer 1 Crypto Projects with 10x Earnings Potential in 2024