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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 64% 76 $23 414.18 -0.57% 1.32% $451 444 140 453 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 65.6% 64 $1 660.60 0.87% 3.91% $203 213 799 353 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000139 0% 0% $68 038 057 989 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 81.2% 39 $332.21 2.49% 7.92% $52 455 756 881 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $0.999870 -0.01% -0.02% $41 954 575 977 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 76.4% 51 $0.410035 0.05% -0.66% $20 829 395 994 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000093 0.02% 0% $16 273 786 064 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 69.2% 69 $0.401700 0.32% 2.18% $13 898 855 921 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 74% 48 $0.093742 2.62% 6.67% $12 436 791 556 DOGE 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 68% 64 $1.23 4.02% 7.27% $10 780 259 861 MATIC 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 Solana (SOL) SOL Solana predictions 61.6% 88 $24.55 0.87% -0.41% $9 145 525 743 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 64% 74 $6.94 5.67% 5.23% $8 000 392 092 DOT 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 79 $0.000014 14.51% 18.56% $7 679 941 030 SHIB 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 76.8% 38 $100.23 0.95% 13.08% $7 236 835 830 LTC 7 days price change

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