Must Buy Solana-based Altcoins As SOL Nears $200
The post Must Buy Solana-based Altcoins As SOL Nears $200 appeared first on Coinpedia Fintech News
With Bitcoin heading towards $70K, the smart money flows to high-potential altcoins. Further, in the broader market recovery, the Solana token price is gaining bullish momentum and nears $200. Amid the recovery rally, the Solana-based altcoins represent a buying opportunity to ride the trend reversal rally.
So, let’s have a closer look at our top picks of must-buy Solana-based altcoins.
Solana Price Performance
With a 12% jump last week, the SOL price is up by 7.21% this week, surpassing the 61.80% retracement level. As the bounce back from $125 gains momentum, Solana approaches the rounding bottom neckline at $250.
Hence, with the rounding reversal, Solana reveals a massive upside and teases a surge in Solana-based altcoins in the coming weeks and months. Hence, we have picked three must buy Solana-based altcoins with high potential.
Must Buy Solana-based Altcoins: Parcl (PRCL)
With a rounding bottom reversal, the POND price action tests the 23.60% Fibonacci level at $0.2920. However, with the crucial resistance acting as the neckline, the Solana-based token teases an inverted head and shoulder pattern.
With a potential breakout of the 23.60% breakout, the Fibonacci levels tease an upside of 85% to the $0.50 psychological mark. Hence, the PRCL is one of the must buy Solana-based altcoins to buy to ride a trend reversal rally.
Ben The Dog (BENDOG)
Similar to Solana, the BENDOG price action reveals a rounding bottom reversal in the daily chart. Based on Talking Ben, the BENDOG token is ready for a bull run ahead as Solana nears $200.
Currently, the Solana-based altcoin trades at $0.02507 with an intraday growth of 8.53% and accounts for a 65% price jump in seven days. Optimistically, the neckline breakout rally can reach the 78.60% level at $0.052. The 126% upside movement possible in the coming months makes BENDOG a must buy Solana-based altcoin.
Merlin (POND)
Despite a pullback phase, the ongoing recovery within a bearish wedge promises massive upside moves in the POND prices. With a 20% jump in the last ten days, the Merlin token tests the overhead trendline of the falling wedge pattern.
Further, with the double bottom reversal from the $0.015 baseline, the breakout chances are increased. As per the trend-based Fibonacci levels, the POND price could hit the $0.060 mark or the 1.618 Fib level. Hence, the bull run ahead with the potential breakout puts Merlin on the must buy Solana-based altcoins list.
