Altcoins
Major Solana-Based Altcoins Double Down on Rally This Week
With the Solana ecosystem growing at an explosive pace in the crypto bull run, Solana-based altcoins are quick to jump. As SOL price approaches the $200 level for a potential breakout run, these altcoins could find further momentum for a 2x rally this week.
For a strong and bullish end to July, here are the top Solana-based altcoin picks for a massive rally this week. So, let’s take a closer look at their price charts for a deeper understanding.
Solana-Based Altcoins to Watch: Jupiter (JUP)
With a market cap of $1.39 billion, JUP token price is showing a bullish breakout rally, gaining momentum as the broader market recovers. On the daily logarithmic price chart, the Solana-based altcoin is showing a double bottom reversal from the $0.68797 support level.
With the breakout of the $0.88 neckline, JUP price action ends the correction phase with a descending channel pattern. Furthermore, the altcoin has surged 56% in the past two weeks, but the recent intraday decline of 5.41% is testing the psychological limit of $1.
If the bullish momentum continues with a post-retest reversal, Jupiter token price could reach the 50% Fib level at $1.32. On the upside, $2 and $2.75 are potential upside targets for JUP token.
Radio (RAY)
Trading at $2.39, the 10.86% intraday decline weakens Sunday’s 10.47% bullish engulfing candle. With a market cap of $630 million, the Solana-based altcoin tests the 50% Fibonacci level at $2.38.
Over the past two weeks, RAY price recovery has surged 72% for a breakout of the consolidation range. Despite the 85% discount from the all-time high of $16.93, the altcoin is set for a strong close this month.
As the intraday drop represents a new test, the continuation of the uptrend in RAY prices could reach the $4.11 level.
Pyth Network (PYTH)
With a market cap of $1.29 billion, PYTH price trend shows a descending channel breakout rally as the recovery gains momentum from $0.27. Furthermore, the altcoin is up 35% in two weeks to challenge the 23.60% Fib level at $0.3772.
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Furthermore, on the daily price chart, the Solana-based altcoin is showing a channel breakout rally ready to reach $0.54. Optimistically, the bull run could reach $0.81.