Price Analysis

Top Solana Tokens You Can Bet on this Month! Audius, Serum, Raydium May Thrive Soon

Written by: Sahana Vibhute

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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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Aug 11, 2022

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Article Highlights
  • Solana and the tokens based on its blockchain stand still despite multiple security hacks in the recent past

  • While SOL price registered a double-digit gains, AUDIO, SRM & RAY price is also expected to follow soon

Solana (SOL) Price Analysis

solana
  • The Solana price fell short of momentum and continues to trade within the symmetrical triangle
  • The recent upswing uplifted the price close to the resistance but failed to break the levels as the bearish pressure mounted at the resistance
  • However, bulls still appear to be well-positioned and hence the asset may hit $47.28 in the next 24 to 48 hours

Audius (AUDIO) Price Analysis

audioprice
  • AUDIO price in a little contrast to SOL is swinging within an ascending triangle but pretty much distinct from the apex
  • The recent rejection from the upper resistance validates the pattern and hence a continued consolidation just below the resistance may be imminent
  • The asset may slice through the resistance in the first few days of Q4 and continue to range high, nullifying the bearish impact

Serum (SRM) Price Analysis

  • Serum price is been bearish for quite a long time and hence it appears that the time for a massive breakout has finally approached
  • After trading within a huge falling wedge, the asset is now closer to a breakout and tests the immediate resistance close to $1.5
  • However, it may face bearish pressure but after a brief consolidation, the SRM price could quickly rise towards its target of around $2.3 to $2.4

Raydium (RAY) Price Analysis

raydiumprice
  • Raydium price dropped hard after reaching highs during the NFT boom in the last few days of Q3 2021
  • The price has depleted nearly 96% and hence is following a consolidated trend for the past couple of months between the FIB 0 and FIB 0.23
  • However, testing & clearing FIB 0.23 at $1.35 appears to be a tedious job, once done, a strong upswing may be imminent.

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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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