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Solana shows strength below $70 all-time highs


18 Aug 2021

#Solana

Optimism keeps flowing around Solana, with even current record levels still attractive as a buy-in. Solana (SOL), the in-house token of decentralized computing platform Solana, continued major gains on Tuesday to become a top 10 cryptocurrency. Data from Cointelegraph Markets Pro and TradingView showed SOL/USD gain another 15% on Tuesday, briefly passing $72.

Against weekly returns of nearly 70%, attention from traders was firmly focused on SOL, which on the day had delivered the third-best weekly performance of any crypto token. SOL also entered the top 10 cryptocurrencies by market cap, surpassing Uniswap (UNI).

“Solana has rallied +60% since confirming a breakout past the downtrend, rallying to new All Time Highs,” trader and analyst Rekt Capital summarized on the day. Fellow trader Pentoshi was even more bullish, calling SOL an “absolute steal” even at current record levels in terms of United States dollars.

“SOL in price disovery,” he told Twitter followers.

“Imo if $56–60 comes that [is] an absolute steal now that it has made new ath’s. That should be new support and the sky is the limit. Got some bids filled at the daily open Already up big today.” Against Bitcoin (BTC), Solana came down more firmly after hitting highs of 0.00163, at the time of writing circling 0.00147.

Alt season calls grow louder

Solana thus sealed a rare success in an altcoin market still dominated by Bitcoin price moves. As Cointelegraph reported, however, optimism remains over a broader altcoin comeback as Bitcoin cools following its own major spurt, which has so far topped out at $48,000.

The time for action may be now, as heavy resistance above the $48,000 level causes problems for those eager to see a return to $50,000 BTC/USD. A rumored relative strength index (RSI) peak on SOL/USD, meanwhile, failed to deliver a correction, which some had feared may puncture its bull run.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 57.6% 94 $19 601.45 1.08% -6.16% $374 035 671 245 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 56% 91 $1 069.36 1.22% -6.90% $129 781 761 094 ETH 7 days price change
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5 Binance Coin (BNB) BNB Binance Coin predictions 58.8% 84 $222.98 5.98% -3.62% $36 406 780 076 BNB 7 days price change
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8 XRP (XRP) XRP XRP predictions 62.8% 72 $0.318666 0.10% -14.11% $15 405 296 738 XRP 7 days price change
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12 Polkadot (DOT) DOT Polkadot predictions 67.2% 72 $6.79 0.01% -14.24% $6 708 513 693 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 56.4% 91 $0.065271 2.22% 1.89% $6 037 017 196 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 72% 55 $6.05 2.00% 4.28% $5 770 009 473 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62.8% 71 $0.000010 2.69% 0.29% $5 612 816 170 SHIB 7 days price change

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