High Ranking Altcoins Are Ready For New ATH
The post High Ranking Altcoins Are Ready For New ATH appeared first on Coinpedia Fintech News
With the altcoins rising back up, the broader market sentiment is recovering as investors are lining up with extra demand. As the crypto market teases a sharp recovery from lower levels, the rising demand teases a prolonged bull run.
Amidst the rising market, the Solana and Toncoin token prices are ready for a sharp recovery. Let’s examine the price chart and technical analysis of SOL and TON tokens to find out more.
Altcoin Rally Begins As Solana Eyes $150 Breakout.
With a struggling reversal rally in the weekly chart, the SOL price trend reveals bullish dominance at $125. The altcoin remains sideways between the 50% Fibonacci level and the 61.80% level.
With the ongoing consolidation range, the altcoin price chart shows the MACD and RSI line declining, as the supply pressure increases.
In the daily chart, the $125 support holds the triangle breakdown rally and reverses it to challenge $150. As the broader market recovers, the SOL price is up by 8.40% in two days and hints at an extended price jump. Optimistically, the altcoin can reach the $200 mark if the Bitcoin price reclaims $60,000.
Toncoin Reversal Aims $10
With $18 Billion market cap, Toncoin ranks at #8 amongst the top 10 cryptocurrencies. Surviving the market crash with minimal correction, the TON price breaks under the long-coming support trendline.
In the daily chart, the altcoin reveals a minor double bottom pattern as it transitions the breakdown rally to a sideways shift. With lower price rejection candles, the TON price is aiming for a bullish reversal.
Supporting the bulls, the RSI shows reverse divergence and while MACD shows a softening in bearish histograms.
If the bull run continues, the altcoin could reach the $10 mark, per the trend-based Fibonacci levels.
