Top 3 Altcoins To Buy Today February 1: Solana (SOL), Jupiter (JUP), MANTA (2024)

Altcoins To Buy: Certain altcoins emerge as beacon lights for potentially high returns as the cryptocurrency market navigates through volatility. Among these, Solana (SOL), Jupiter (JUP), and Manta Network (MANTA) stand out for their unique value propositions and recent performances. Despite facing market corrections, these cryptocurrencies showcase resilience and growth potential, making them attractive options for investors seeking to diversify their portfolios with altcoins poised for significant gains.

Is Solana The Best Altcoin To Buy Today Amidst Market Fluctuations?

Solana has recently displayed several negative indicators on its daily chart. This development comes after it peaked at a seven-day high of $106. Despite its impressive 660 percent surge previously, making it one of the standout altcoins, its current trajectory looks bleak. Solana is trading at $97.08, significantly declining over 5% in the last 24 hours. With a market capitalization of $42 billion, SOL is the fifth-largest cryptocurrency, yet this number belies the coin’s recent 11% increase, which marks it as a leading altcoin.

Solana’s price has oscillated between $90 and $106 for more than two weeks, signaling a period of stagnation in the cryptocurrency market. This was further compounded by the cross Exponential Moving Average 50/200 exhibiting a death cross, leading to SOL breaking below its critical support level. Despite this, the four-hour Moving Average Convergence Divergence (MACD) indicator shows short-term bearish pressure, with histograms pointing to a negative trajectory.

Solana’s future trajectory hinges on maintaining support levels above $90. If it succeeds, there’s potential for a bullish resurgence, possibly challenging the $99.00 resistance, making it the best altcoin to buy. Conversely, failure to stay above $90 could see a loss in momentum, risking a drop to the vital $80.19 support level in the coming week.

Jupiter’s Record Trading Volume: A Sign of Growing Strength?

Jupiter, the leading DeFi platform within the Solana ecosystem, has experienced a remarkable surge in trading volume, reaching $1.38 billion in the past day. This represents a significant increase of over 331%, a milestone that follows closely on the heels of a successful airdrop and the launch of its new token. The platform’s trading activity has doubled its usual volume, positioning Jupiter as the most sought-after platform.

Jupiter trading price is currently at $0.5823, which marks a 16% reduction from its initial offering price. Despite this dip, the platform boasts a market capitalization of $786 million and a fully diluted valuation reaching $6 billion. At its launch, about 1.35 billion tokens were circulating, accounting for 13.5% of its total token supply of 10 billion.

Will MANTA Price Hit $5 level By Next Week Amid Market Correction?

The Manta Network’s valuation has experienced a modest decline, dipping by 3% in the last day to a current price of $3.14. This drop was accompanied by a 12% decrease in trading volume, surprising several market participants. Despite this recent downturn, perpetual traders remain engaged with the Manta Network’s price fluctuations. Optimistic investors are still eyeing potential profits, maintaining a positive outlook even after this recent pullback. Over the previous month, MANTA has notably ascended by more than 38%, positioning itself as a prime altcoin for investors today.

Moreover, the Manta Network has emerged as one of January’s standout performers. Currently, however, the MANTA exhibits a bearish trend. The price movement has pushed the cryptocurrency beyond the limits of its previously ascending parallel channel. The Moving Average Convergence Divergence (MACD) and the Awesome Oscillator (AO) indicators signal caution, with their histogram bars trending into negative territory.

In an optimistic scenario where market sentiment turns favorable, the Manta Network’s price has the potential to surge. A bullish wave could propel the value to the upper threshold of $4.00, marking a significant 30% increase from its current standing. This rise would account for an impressive 50% gain from present levels, potentially exerting additional upward pressure on MANTA’s price.

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