Top 5 Solana-based Altcoin To Buy Amid Market Recovery
The post Top 5 Solana-based Altcoin To Buy Amid Market Recovery appeared first on Coinpedia Fintech News
As Solana quickly reclaims lost levels during the recent crash, the Solana ecosystem explodes. With Solana-based altcoins making a comeback with the SOL price recovery, these mid-cap and low-cap tokens are likely to outperform Solana tokens in the coming months.
Furthermore, with the broader market recovery as Bitcoin reclaims $61K, the altcoins could give 2x or more rally ahead. So, let’s take a closer look at the top Solana-based altcoins to buy as the crypto market bounces back.
Top Solana-based Altcoins: Helium (HNT)Being the biggest DePIN crypto and a top Solana-based altcoin, Helium is investors’ choice for big returns in this market. The HNT Price is down 89% from its all-time high at $56.21 but registered a 23% jump in the last 24 hours.
Currently, the altcoin trades at $5.97, and the recovery rally breaks above a short-term correction phase in the daily chart. With the rounding reversal and the breakout rally heading to $6, resistance near the 50% Fibonacci level brings Helium to a crossroads.
Another breakout run, the post-retest, could pump the HNT price higher to the $10 mark in the coming weeks.
PYTH Network (PYTH)Known as a Chainlink-killer with super fast speed, PYTH network, a Solana-based project is making waves in the crypto space.
Despite a declining trend in the daily chart, the PYTH price trend shows a bull cycle ready to ignite. With the broader recovery, the breakout chances for PYTH to tease a new bull run are increased.
The overhead trendline breakout and the 23.60% Fibonacci level break at $0.35 will push the PYTH price to $1.10.
SOL-Based DeFi Protocol: JITO (JITO)With $1.5 Billion in TVL, the liquid staking provider with the power of MEV, JITO is rising ranks in the Solana ecosystem. Further, with a market cap of $341 Million, this Solana-based altcoin shows massive upside potential as a low-cap option.
In the daily chart, the JITO price action reveals a triangle pattern formation with the ongoing bull cycle gaining traction. With a morning star pattern, the V-shaped reversal within the triangle teases a bullish breakout as the market recovers.
As per the Pivot Points Standard (quarterly), the bullish breakout of the $3.281 pivot level, the upside targets are at $4.468 and $6.515.
Solana-Based Meme Coin: BONK (BONK)As meme coins are spearheading the bull run in the crypto world, BONK, a Solana-based altcoin, is a top choice in the meme coin segment. With a market cap of $1.429 Billion, BONK has witnessed an exponential surge since its inception.
In the daily chart, BONK survives the recent crash as the buyers remain dominant over a long-coming support trendline. As the bull cycle starts to gain momentum, a bullish breakout of the overhead resistance can jump to $0.000042.
Solana-Based DEX: Jupiter (JUP)Finally, ending the list of our must-buy Solana-based altcoins, Jupiter (JUP), a DEX aggregator. With a TVL of $556 Million, the boost in the crypto market could result in a spike in leveraged trading over Jupiter. As Jupiter is close to entering the top 5 DeFi protocols over Solana, the upside potential in JUP is massive.
With a double bottom reversal starting in JUP price after the recent correction, the trend momentum spikes up. As the uptrend continues, a bullish breakout of the 23.60% Fibonacci level at $1.32 could result in a price jump to $2.75.0
Hence, with a 200% upside target, Jupiter is one of the best buy options in our list of top Solana-based altcoins.