Altcoin Market Recovers, Seasonality Index Rises to 48
- Seasonality Index Recovery: The latest data shows that the altcoin seasonality index has risen from 35 last month to 48, indicating that 48 of the top 100 altcoins have outperformed Bitcoin over the past 90 days, reflecting a strong market recovery.
- Decline in Bitcoin Dominance: Bitcoin's dominance has decreased from 61.2% to 60.6%, which is seen as a significant indicator that investor capital is beginning to shift back towards altcoins, potentially signaling a structural change in the market.
- Notable Altcoin Performances: During the market rally, altcoins like ONDO and ICP surged by 34.5% and 32.8%, respectively, highlighting the strong performance of specific tokens in the current market environment, which may attract more investor attention.
- Strong Ecosystem Performances: Tokens within the Solana and SUI ecosystems have shown remarkable gains, with JUP and PYTH rising by 18.7% and 17.5%, respectively, indicating that these ecosystems' tokens are gaining market recognition, potentially driving future investment inflows.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 68.33 | 75.78 | 83.51 | 90.96 | 98.69 | 106.14 | 113.87 |
| Fibonacci | 75.78 | 81.579 | 85.161 | 90.96 | 96.759 | 100.341 | 106.14 |
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