SOL, the fifth largest token by market capitalization, reaches $100 and compensates for the price drop during the five-hour failure of Solana network. At the time of publication of the article, the coin is trading at $105, which is 5% more in the last 24 hours. Cardano has increased in value even more, recording a price increase of 7% per day.
SOL and ADA are the only altcoins that have managed to surpass the daily growth of BTC by 3%.
At the same time, a well-known crypto trader under the pseudonym Wick suggested that the SOL token will continue to grow due to the process of forming a graphical model, which was observed in October and December before the big movements.
The founder of Cubic Analytics, Caleb Franzen, notes that the prospects for altcoins are optimistic. The total market capitalization of cryptocurrencies, with the exception of BTC and ETH on TradingView, has retested the key accumulation zone and is now showing signs of a rebound from oversold levels. According to Franzen, all these facts are harbingers of a bull market.