Altcoins
Top 3 Altcoins to Buy Today, February 1: Solana, Jupiter, MANTA
Altcoins to Buy: Some altcoins are emerging as beacons for potentially high returns as the cryptocurrency market navigates volatility. Among these, Solana (SOL), Jupiter (JUP), and Manta Network (MANTA) stand out for their unique value propositions and recent performance. Despite market corrections, these cryptocurrencies exhibit resilience and growth potential, making them attractive options for investors looking to diversify their portfolios with altcoins poised for significant gains.
Is Solana the Best Altcoin to Buy Today Amid Market Fluctuations?
Solana has recently displayed several negative indicators on its daily chart. The move comes after peaking at $106, a seven-day high. Despite its impressive 660% rise previously, making it one of the most notable altcoins, its current trajectory appears bleak. Solana is trading at $97.08, down significantly by over 5% in the last 24 hours. With a market capitalization of $42 billion, SOL is the fifth largest cryptocurrency, but that figure belies the coin’s recent 11% surge, making it one of the leading altcoins.
Solana’s price has been hovering between $90 and $106 for over two weeks, signaling a period of stagnation in the cryptocurrency market. This was further compounded by the 50/200 exponential moving average crossover exhibiting a deadly crossover, leading SOL to break below its critical support level. Despite this, the four-hour Moving Average Convergence Divergence (MACD) indicator shows short-term bearish pressure, with histograms pointing towards a negative trajectory.
SOL/USD Price Chart: Trading View
Solana’s future trajectory depends on maintaining support levels above $90. If this succeeds, there is potential for a bullish resurgence, possibly challenging resistance at $99.00, which would make it the best altcoin to buy. Conversely, failing to stay above $90 could result in a loss of momentum, risking a fall to the vital support level of $80.19 in the coming week.
Jupiter’s Record Trading Volume: A Sign of Growing Strength?
Jupiterthe leading DeFi platform within the Solana ecosystem, has seen a remarkable increase in volume of trade, reaching $1.38 billion over the past day. This represents a significant increase of over 331%, a milestone that comes hot on the heels of a successful airdrop and launch of its new token. Trading activity on the platform doubled its usual volume, positioning Jupiter as the most sought-after platform.
JUP/USD Price Chart: Trading View
Jupiter the trading price is currently $0.5823, representing a 16% discount from its initial offering price. Despite this decline, the platform has a market capitalization of $786 million and a fully diluted valuation reaching $6 billion. At launch, approximately 1.35 billion tokens were in circulation, representing 13.5% of its total supply of 10 billion tokens.
Will MANTA price reach $5 level by next week amid market correction?
The Manta Network’s valuation has seen a slight decline, falling 3% over the past day to a current price of $3.14. This drop was accompanied by a 12% decrease in trading volume, surprising several market players. Despite this recent slowdown, perpetual traders remain attentive to price fluctuations on the Manta network. Bullish investors are still eyeing potential earnings and maintaining a positive outlook even after this recent pullback. Over the past month, MANTA has notably increased by over 38%, positioning itself today as a top altcoin for investors.
MANTA/USD Price Chart: Trading View
In addition, the Manta network established itself as one of the most notable players of the month of January. However, currently the MANTIS shows a downward trend. The price movement pushed the cryptocurrency beyond the limits of its previously ascending parallel channel. The Moving Average Convergence Divergence (MACD) and Awesome Oscillator (AO) indicators signal caution, with their histogram bars moving into negative territory.
In an optimistic scenario where market sentiment becomes favorable, the Manta Network the price has the potential to increase. A bullish wave could propel the value to the upper threshold of $4.00, marking a significant 30% increase from its current position. This rise would represent an impressive 50% gain from current levels, potentially putting further upward pressure on MANTA price.
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