Altcoins

Amid The SOL Price Rally, FTM, FTT, THETA, ALGO Price Spike High

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Highlights

    Solana price rallied like a giant and is on the verge to hit $200 any moment from now, many other altcoins also tend to follow the rally

    Many crypto assets including DeFi gems excel leaving the popular and dominant cryptos like Bitcoin, Ethereum, XRP, etc behind

The Solana price rally amazed the entire crypto space that jumped more than 34% at the press time. While the major assets like Bitcoin and Ethereum are slowly falling into bearish divergence, other assets showcase a sign of extreme strength. SOL price, however, is leading the race with a giant rally, yet the other altcoins like FTM, FTT, THETA, ALGO shine in the space. 

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Fantom (FTM) 

Fantom price in the past bull rally had failed to surpass the $1 milestone and slipped very close to 10 cents. However, after a healthy & strong consolidation, the price restarted with a giant rally. The first push was when the asset closed the previous month trade on a bullish note which was later carried forwards. Currently, the FTM price is swinging in discovery mode around $1.68 and gearing up to hit $2 at the earliest. 

FTX Token (FTT)

FTX token maintained a balanced price trend despite the market pumps and dumps post the mid-may crash. Interestingly, the asset has received immense attention in the past month that led to a gigantic rally. The price that had cemented around $23 spiked as high as $80 at the press time. The indicators point out a pretty bullish trend for the next couple of days. And hence the price discovery could continue and eventually smash $100 very soon. 

Theta (THETA) 

Theta price after it smashed the ATH in March, began to decline within a descending channel. Although the price kept draining, yet the volume remained balanced indicating the constant user interest. However, in the recent 30 days, the asset experienced a notable uptrend as buying pressure prevailed. Currently, the price is testing important resistance levels around $9.5. And a successful jump from here could lead the price to form a new ATH above $16.

Algorand (ALGO) 

Algorand is one such asset that maintained a consistent rally throughout the bearish trend of the market. Despite the certain pullback, yet the ALGO price always rebounded with a remarkable margin. Currently, with a series of uptrends from the past couple of days, the price appears to hit the initial resistance levels of $1.6. And later forming a new ATH beyond $1.8 could be with minimum efforts. 

Collectively, a surge in the Bitcoin price might have ignited the bull rally, yet the altcoins appear to outshine them. With tremendous strength and growth in the volume, one should not be surprised if the BTC gains start flowing into altcoins very soon. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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