Solana continues an uptrend despite the Bitcoin and Ethereum slight corrections.
Notably, The competitive smart contracts token is back to trading above $200. Also, this is happening just a day after reclaiming the ground above $180.
Furthermore, Bitcoin hits a new all-time high slightly above $67,000, while Ethereum approaches $4,400 mark. Meanwhile, Bitcoin currently trades around $62,000 as bulls aim for $70,000 before the week runs out. Also, Ethereum sees declines to $4,000 in order to allow more buyers to come into the market.
Solana Price Analysis
Additionally, Solana trades at around $203 at the time of writing, while buyers look toward the all-time high at $215.
Also, Solana is in need of some Higher support to keep the uptrend intact. Then, make sure the bulls’ efforts are not for defense but to push for record highs.
Furthermore, The short-term technical outlook is positive on the Moving Average Convergence Divergence (MACD) indicator and the Relative Strength Index (RSI).
More so, this will encourage bulls to join the Solana market and increase their stakes.
Meanwhile, the RSI’s movement into the region implies that buyers have the upper hand.
Then, Avalanche, just like Solana, is on its way to the record highs also. Notably, this is coming after rebounding from the crucial support at $50. Which the demand zone highlights green on the chart. Currently, Bulls are controlling the trend as AVAX breaks above the descending trend line. This is as seen in Solana also.
Lastly, The 50-day SMA is also catching up to the uptrend and it’s ready provide support. Currently, Avalanche is trading at $65 at writing, and likely to extend to $70. The prediction puts AVAX in position to close the week at the record high of $80.
