The entire crypto market was painted green. Solana [SOL] and Avalanche [AVAX] were seen leading this bull run. Every other asset, including Bitcoin [BTC], Ethereum [ETH], Binance Coin [BNB], and Cardano [ADA] were taking a backseat.
The last couple of days were quite hard on Solana [SOL]. The altcoin lost its stance and witnessed a major plummet. While the coin lost all its gains over the week following the Denial-of-Service attack. However, at the time of writing, SOL was trading for $160.99 with a 14.52% surge over the last 24-hours.
Furthermore, the market cap of the crypto-asset was at $47 billion which further allowed the coin a spot in the top ten. Standing as the seventh-largest cryptocurrency, SOL entered this list despite being fairly new to the market.
Solana [SOL] one-day price chart on Binance
The one-day price chart of SOL noted major bear sightings. The Parabolic SAR indicator formed dotted lines over the candlesticks restricting any possible uptrend. This line acted as a line of resistance. The Awesome Oscillator indicator laid out red closing bars and announced the presence of bears in the SOL market. This could further mean that SOL’s hot streak could soon come to an end.
The Relative Strength Index [RSI] pointed out that Solana [SOL] was being overtly bought.
Avalanche [AVAX] one-day price chart on Binance
Avalanche [AVAX] not only surged in terms of price but also market cap as well as ranking. The altcoin made headlines after it rose as the eleventh largest cryptocurrency. The market cap of the coin, at press time, was at $15.8 billion. The asset remained over prominent coins like Uniswap [UNI] and Chainlink [LINK].
During the time of writing, AVAX was trading for $71 with an 11.36% surge over the last 24-hours. The previous seven days proved to be profitable for the coin as it witnessed gains of about 42%.
The one-day price chart of AVAX had the bull dancing in its market. The MACD line surged over the signal line and formed a bullish crossover. The Chaikin Money Flow [CMF] indicator stayed untethered in the bullish region. This could mean that AVAX would continue its current momentum.
The Relative Strength Index [RSI] revealed that AVAX was being overbought.