With Solana (SOL) riding high, some of its ecosystem altcoins are also starting to show promise. Jupiter (JUP) and Nosana (NOS) can potentially be among the best performers for the rest of this crypto bull market.
$SOL upward trend likely to persist
$SOL has been one of the stand-out performers so far in this crypto bull market. From a low of $8, set right at the end of 2022, the $SOL price has since risen spectacularly, setting a local high of $210 in mid-March of this year.
As the Solana network continues to outperform Ethereum (not counting layer 2s) in terms of the amount of daily transactions and daily active users, this trend looks as though it might persist.
Generally, $SOL looks to be doing better than the vast majority of its ecosystem altcoins. However, that said, there are certain Solana-based altcoins that may be able to reverse this trend, especially as the bull market starts to enter its latter stages.
$JUP breaks out and looks to find support
Source: TradingView
Jupiter has become one of the top dex aggregators in a very short amount of time. Looking at the $JUP price, it can be seen that it bounced beautifully from the 0.618 fibonacci level various times, before forcing its way through the downward trend line and reaching the price of just over $1.00 currently.
The daily close for $JUP will decide if resistance can now be flipped into support at that $1.00 level. Targets for $JUP are $1.40, $1.60, and the all-time high at $1.85. If $JUP can then enter price discovery, further targets of $2.60, and $3.80 could be achievable.
$NOS about to power out of the blocks
Source: TradingView
Nosana (NOS) is the leading AI play on the Solana network. A decentralised open-compute grid provides cheap GPU power for anyone.
When it comes to the price of $NOS, it can be seen that it is not quite out of the blocks yet. However, a price base is being built, and the floor for this could now be at $2.86.
Drawing in the fibonacci levels for $NOS, it can be noted that both the 0.236, and the 0.382 lines have already been hit, and the price is currently back at the base support level.
However, the downward trend line could be breached in the next day or two, and then expect $NOS to regain these two fibonacci levels, before going on to potentially hit the targets of $4.23 and then $4.78. Extended targets for this bull market are $7.50, and $10.80.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
