The crypto market has been advancing in obscurity for a long time. Experts reported that interest rates, global crisis, geopolitical wars and other macroeconomic factors affecting the traditional market also affected the crypto market. However, especially with this past week, cryptos are recovering, rearing and starting to regain their losses. Analysts point to Solana (SOL) and Cardano (ADA), which can turn their losses back into gains.
SOL’s New ATH Target
Although the entire market is recovering and bullish, most cryptos have yet to recover their position after gains in November 2021. However, analysts note that the momentum of Solana and Cardano provides positive data and stands out from other cryptos.
The price of Solana (SOL) has been attracting a lot of attention lately, with its sharp rise. At the time of this writing, SOL is trading at $100.84, up 9.2% in the last 24 hours. SOL, which also reached $101.85 during the day, is now proving that it is consolidated above $100. Also, on a weekly basis, SOL shows an increase of close to 12%. Experts argue that the first resistance level for the SOL will be $112 and the second resistance level will be $120. If SOL manages to break through these resistance levels, experts think SOL will head towards new ATHs.
ADA and Others
On the other hand, Cardano (ADA), which prefers to move forward with reliable steps but attracts attention with its recent updates, is striking with its 12% increase today. ADA, which has been under $1 since February, is finally breaking the devil’s leg and is trading at $1,163 at the time of this writing. Looking at its weekly chart, ADA draws attention with an increase of close to 37%. ADA, which has been stagnant for a long time, is starting to make profits for its investors with these increases.
In general, the top 10 cryptocurrencies by market capitalization, including the industry giant Bitcoin (BTC), are having a good day. The green colors that investors miss are striking in the charts. In addition, surprisingly, LUNA, which increased its price in the last week of February and early March, while the recession prevailed, unlike all cryptos, is declining today. Rising while recession prevails, LUNA falls when bullish and is trading at around $92.5, down 3%.
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should perform their transactions in line with their own research.
