Top Solana-based Altcoins To Buy Amid Crypto Market Crash!

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The cryptocurrency market has recorded a bullish recovery over the past 24 hours after trading under a strong bearish sentiment for the past four days. Moreover, the Solana price has successfully retested its important support level of $127.

With the rising price volatility in the crypto space, is this the right time to invest in Solana-based altcoins to maximize your profits this crypto bull run?

Planning on investing in the Solana ecosystem for the upcoming crypto bull run? In this article, we have covered the market sentiments, price analysis, and potential short-term price targets of Solana and SOL-based altcoins.

Solana (SOL) Price Action:

The SOL price has recorded a strong bullish jump by adding 13.84% within the past 24 hours with a trading volume of $12.270 Billion. However, it has recorded a correction of 22.69% over the past week and is valued at $140.49 with a market cap of $65.63 Billion.

TradingView: SOL/USDT

The Relative Strength Index (RSI) has successfully retested its oversold range in the 1D time frame. However, the average trendline shows a downtrend, highlighting uncertainty in future price action.

Further, the MACD indicator has displayed a constant rise in the red histogram with a sharp drop in the averages.

If the market continues trading under a bullish sentiment, the SOL price will prepare to retest its upper resistance level of $181 this month. Conversely, if the bears continue to dominate the market, the Solana token will retest its crucial support level of $127.

Chainlink (LINK) Price Action:

With a jump of 8.53% within the past day, the Chainlink price has successfully reclaimed the $10 mark. Furthermore, with a price tag of $10.04, this altcoin has secured the 16th position in the global crypto-list with a market cap of $6.100 Billion.

TradingView: LINK/USDT

Despite increased price action, the MACD indicator has displayed a constant rise in the negative histogram with its averages recording a rising negative sentiment. This highlights a mixed sentiment for the LINK price in the crypto market.

If the market holds the Chainlink price above its support level of $9.55, the bulls will regain momentum and prepare to head toward its upper resistance level of $16.20 in the coming time. However, a bearish action could result in this altcoin recording a new yearly low.

Dogwifhat (WIF) Price Action:

Amid increased price volatility in the crypto market, the WIF price has recorded a bearish action for the past 10 days. However, with a bullish recovery, this altcoin has jumped approximately 15% within the past 24 hours, highlighting a high possibility of a bullish reversal soon.

TradingView: WIF/USDT

The technical indicator, RSI, continues hovering close to its oversold range with its average showing a bearish convergence. Further, the SMA continues to act as a resistance, suggesting a negative outlook for the altcoin this week.

Suppose, a bullish trend reversal occurs, in such case, the Dogwifhat price will start gaining momentum and prepare to test its upper resistance level of $3. Negatively, if the bears overpowered the bulls, the WIF memecoin would plunge toward its low of $0.60.

The Graph (GRT) Price Action:

Despite recording a correction of 27.92% within the past week and 24.27% over the past month, the GRT price has surged 11.05% within the past 24 hours with a trading volume of $119.510 Million, a change of -26.42%.

TradingView: GRT/USDT

The Simple Moving Average (SMA) has constantly acted as a resistance to the Graph price chart in the 1D time frame, highlighting a strong bearish sentiment in the crypto space. Further, the MACD has recorded a negative action, suggesting that the GRT price will continue losing momentum this week.

Maintaining the GRT coin price above its important support level of $0.1375 will set the stage for this altcoin to test its upper level of $0.1980. Conversely, if the bulls fail to regain momentum, the Graph token will drop toward its low of $0.0800.