Bitcoin (BTC) has recently touched $90,000, marking new all-time highs. Market experts now anticipate a capital shift towards major altcoins that have yet to retest their prior highs. Jesse Olson, a market analyst, revealed his altcoin watchlist. His list features cryptocurrencies likely to experience considerable gains, with Solana (SOL) being a significant contender.
Solana has been stellar, trading at around $218 after a remarkable 36% price surge over the past week. This performance eclipses many leading cryptocurrencies. Solana lingers just 15% below its November 2021 peak of $259. With a nearly 50% increase in trading volume over the weekend, Solana has overtaken Binance Coin (BNB) in market capitalization, securing the fourth spot among cryptocurrencies.
Challenges loom as Solana meets resistance at $222 and $230.
Ethereum (ETH) also graces Olson's watchlist. Despite trailing behind SOL and BTC, Ethereum teeters on the brink of a crucial breakout. Trading near $3,300, ETH remains 33% off its November 2021 record high of $4,878. A modest 1.7% 24-hour gain hints at rising momentum, aiming to shatter the stubborn four-month resistance at $3,320.
Chainlink (LINK) presents a distinct narrative. It saw a minor 1% dip in the last 24 hours, yet the weekly surge is notable at 43%, trading at $14.70 on Monday. Nevertheless, LINK is a stark 72% under its May 2021 all-time high of $52.70. Breaking $14.80 remains elusive since July.
Cardano (ADA) emerges as an exceptional performer. It boasts an 84% weekly surge and an 80% gain over the past fortnight. Despite these strides, ADA, priced at $0.5959, trails far behind its $3.09 high from March 2020, down roughly 81%. Should it surpass $0.6115, ADA might revisit its yearly high of $0.81.
Although these altcoins face near-term resistance, Olson and analysts remain optimistic for the year ahead. Donald Trump's recent presidential election victory is anticipated to spark institutional interest in cryptocurrencies.
Analysts predict a rise in market capital inflows, creating a window for continued value hikes across leading crypto assets, including Bitcoin and other altcoins from Olson's watchlist.
