• Solana leads altcoins into recovery after testing support at $150.
• Cosmos keeps the weekly run to new all-time highs intact while bulls look forward to juping above $40.

Most altcoins continued with last week’s dumping on Monday, accentuated by Bitcoin’s dip below $44,000. However, Solana and a few selected crypto assets stayed in the green, posting remarkable single-digit gains.

advertisement

As the market wallowed in the red, investors took advantage to buy the dip, hence starting a fresh recovery during the Asian hours on Tuesday. Bitcoin has gained ground above $45,000, but as reported, its uptrend remains shaky toward $47,000.

Meanwhile, Solana is up an impressive 7% to trade at $167. Similarly, Cosmos is trading 11.8% higher, spotting a market price value of $36.46, according to CoinGecko. Other tokens performing relatively well are Avalanche, Quant, and Tezos.

Solana:-

Solana recently secured support at $150, following a retracement from the all-time at $216. This smart contract token has been a bullish giant to watch, allowing investors to grow their investment faster and consistently.

Nonetheless, the market crash last least did not spare Solana, resulting in a gains-trimming event to $150.

Meanwhile, as expected, SOL appears to have resumed recovery this week with a bang, following from $150 to $172. At writing, Solana is teetering at $167, but the 50% Fibonacci level caps the immediate upside.

The Moving Average Convergence Divergence (MACD) will likely flip bullish in the coming sessions, especially when the 12-day EMA crosses above the 26-day EMA. Moreover, a four-hour close above the 50% Fibo and the 50 Simple Moving Average (SMA) may validate the uptrend to $180 and perhaps trigger gains past $200

On the flip side, Solana’s downside is protected at $162 by the 38.2% Fibonacci level. Holding above this level would allow bulls ample time to reenergize for the trajectory to $200. Moreover, the support will prevent Solana from revisiting $150.

SOL/USD Daily Chart

Cosmos:-

Cosmos has ignored the market crash and selling pressure to post consistent gains in the last week. Last week, ATOM only suffered a minor setback, incurring losses from $27.5 to areas around $17.5.

Nonetheless, a 102% rally followed the dip immediately, allowing Cosmos to trade a new all-time high at $38.95. Support at $35 has been confirmed, allowing bulls to regain control.

At writing, ATOM trades at $37.5 while buyers look forward to action above $40. The MACD is highly bullish, as observed on the four-chart. A four-hour close above $40 would spike gains bringing Cosmos closer to $50.

ATOM Four-Hour Chart

The RSI adds credence to the bullish outlook. Note that a return into the overbought region cements the bulls’ influence over the price.

About Author

John Isige

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige