Are PYTH, HNT and JUP Set for a Bullish Run?
The cryptocurrency market recorded a strong bullish recovery last weekend. Moreover, as BTC price approaches the $63k mark, top altcoins have regained momentum. In addition, Solana's price is on the verge of regaining the $150 mark.
Dive into this article as we cover the market sentiment, price analysis and potential price targets of the top 3 SOL-based altcoins with the potential to record significant price increases.
PYTH
Despite recording neutral price action over the past week, PYTH price is up 32.81% over the past month. This shows the high sentiment for the altcoin in the crypto market. Moreover, with a market value of 1.241 billion dollars, it was ranked 60th.
The moving average converging divergence (MACD) shows a continuous decline on the red histogram in the 1D time frame. Furthermore, with the averages showing a bullish convergence, the price of PYTH suggests a positive outlook in the coming period.
If the bulls recover their momentum, the bulls could be set to test the $0.3750 resistance level in the coming weeks. However, a bearish reversal may drag the price towards the $0.20 critical support line this month.
Helium (HNT)
Helium prices have traded in a consolidated range between $6.525 and $8.010 since August. This shows weak price action for the altcoin in the crypto market. However, with strong fundamentals, this project has the potential to make strong bullish changes in the near future.
The Relative Strength Index (RSI) continues to hover close to the neutral point on the 1D time frame. Moreover, moving averages are constantly working to resist the price trend on the Helium price chart. This indicates uncertainty in future price action.
If the market supports the bulls, in this case, this altcoin can retest the $8.010 resistance level this month. Conversely, if the bears beat the bulls, this could cause the HNT price to drop to the critical support level of $6.525.
Do I care about the future of Helium Token? Read our Helium (HNT) price forecast for potential price targets!
Jupiter
Amid increased price volatility, JUP price continues to show mixed price action. Despite a ~9% correction last week, Jupiter Token has jumped 14.26% in the past month.
The Simple Moving Average (SMA) is on the verge of experiencing a major consolidation on Jupiter's price chart. Moreover, the MACD indicator registers a continuous decline in the red histogram and the averages show a bullish cross. This indicates a positive outlook for the altcoin in the future.
Let's say, a bullish reversal occurs, in which case, JUP price will break the resistance level of $0.8445 and move towards the higher resistance level of $1.160. Conversely, if the bears regain momentum, Jupiter's price may retest the $0.540 support level.
