Bitcoin
BTC$48 023.28

-0.71%

Ethereum
ETH$3 563.80

-1.89%

Cardano
ADA$2.42

-2.23%

Binance Coin
BNB$421.22

-2.55%

Tether
USDT$1.000499

0.02%

XRP
XRP$1.093567

-2.51%

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.


Related

Solana rally mimicking Ethereum? Why a $500 SOL price target could be conservative
Institutional traders flock to Solana as demand for ETH and BTC flattens
Bitcoin price in line for impulsive bounce as Solana (SOL) leads altcoin surge
SOL price nears $200 after FTX's Solana-enabled NFT marketplace goes live
Solana hits record high with SOL price up over 218% in six weeks
Solana price hits $100 for the first time after mysterious Ignition event revealed
Solana based cross-chain exchange Saber raises $7.7M to expand team and tokens

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 83.6% 24 $48 023.28 -0.71% 3.44% $903 705 648 774 $30 868 405 829
2 Ethereum (ETH) ETH Ethereum predictions 71.6% 52 $3 563.80 -1.89% 4.12% $418 950 530 113 $18 493 669 977
3 Cardano (ADA) ADA Cardano predictions 66% 64 $2.42 -2.23% -3.43% $77 683 489 177 $3 095 901 217
4 Binance Coin (BNB) BNB Binance Coin predictions 68.4% 70 $421.22 -2.55% -0.83% $70 821 892 729 $1 657 577 581
5 Tether (USDT) USDT Tether predictions 96% 1 $1.000499 0.02% 0.05% $68 288 037 795 $74 172 515 331
6 XRP (XRP) XRP XRP predictions 71.2% 56 $1.093567 -2.51% -3.05% $50 984 520 461 $3 018 193 479
7 Solana (SOL) SOL Solana predictions 57.2% 89 $146.88 -7.34% -21.00% $43 597 219 268 $3 263 512 936
8 Polkadot (DOT) DOT Polkadot predictions 63.2% 83 $36.36 1.92% 15.42% $35 909 826 746 $2 318 625 572
9 Dogecoin (DOGE) DOGE Dogecoin predictions 66.4% 65 $0.254974 3.69% 0.76% $33 480 789 211 $1 873 594 606
10 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000186 0.02% 0.01% $29 230 519 112 $2 845 039 489
11 UniSwap (UNI) UNI UniSwap predictions 68.8% 56 $25.82 -4.67% 9.72% $15 791 177 382 $595 594 004
12 Terra (LUNA) LUNA Terra predictions 68% 67 $36.20 -0.80% 12.70% $14 549 248 511 $1 555 371 086
13 Avalanche (AVAX) AVAX Avalanche predictions 69.2% 69 $64.76 6.83% 48.17% $14 265 392 957 $2 603 032 868
14 Chainlink (LINK) LINK Chainlink predictions 74% 56 $29.85 -5.29% 4.13% $13 491 251 604 $1 523 058 445
15 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.000197 0.01% 0.02% $12 747 342 580 $6 385 206 639

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