With Solana quickly reclaiming levels lost during the recent crash, the Solana ecosystem is exploding. With Solana-based altcoins making a comeback with the SOL price recovery, these mid-cap and low-cap tokens are likely to outperform Solana tokens in the coming months.
Moreover, given the overall market recovery that sees Bitcoin reclaiming $61,000, the altcoins could facilitate a rally of two or more times. So, let’s take a closer look at the best Solana-based altcoins to buy as the crypto market recovers.
Top Solana-based altcoins: Helium (HNT)
As the largest DePIN cryptocurrency and top Solana-based altcoin, Helium is investors’ choice for high returns in this market. HNT price has fallen 89% from its all-time high of $56.21 but has seen a 23% increase in the last 24 hours.
Trading View
Currently, the altcoin is trading at $5.97, and the relief rally is breaking a short-term corrective phase on the daily chart. With the rounding reversal and breakout rally towards $6, resistance near the 50% Fibonacci level puts Helium at a crossroads.
Another breakout, post-retest, could push the HNT price to the $10 mark in the coming weeks.
PYTH Network (PYTH)
Known as the super-fast Chainlink killer, PYTH network, a Solana-based project, is making waves in the crypto space.
TradingView
Despite a downtrend on the daily chart, the PYTH price trend shows a bull cycle that is about to start. With the broader recovery, the chances of a PYTH breakout to herald a new bull run are increasing.
A breakout from the upper trend line and a breach of the 23.60% Fibonacci level at $0.35 will push the PYTH price to $1.10.
SOL-based DeFi protocol: JITO (JITO)
With $1.5 billion in TVL, the liquid staking provider powered by MEV, JITO is rising in the Solana ecosystem. Moreover, this Solana-based altcoin has huge upside potential as a low-cap option with a market cap of $341 million.
Trading View
On the daily chart, JITO price action is showing a triangle formation with the ongoing bull cycle gaining momentum. With a morning star pattern, the V-shaped reversal within the triangle suggests a bullish breakout as the market recovers.
According to the Pivot Points Standard (quarterly), the bullish breakout is above the pivot level of $3,281, with upside targets at $4,468 and $6,515.
Solana-based meme coin: BONK (BONK)
As meme coins lead the bull run in the crypto world, BONK, a Solana-based altcoin, is a top pick in the meme coin segment. With a market cap of $1.429 billion, BONK has seen an exponential rise since its launch.
Trading View
On the daily chart, BONK is surviving the recent crash as buyers continue to dominate a long-standing support trend line. If the bull cycle gains momentum, a bullish breakout of the overhead resistance at $0.000042 may occur.
Solana-based DEX: Jupiter (JUP)
Concluding our list of must-have Solana-based altcoins is Jupiter (JUP), a DEX aggregator. With a TVL of $556 million, the crypto market upswing could lead to a rise in leveraged trading via Jupiter. With Jupiter on the verge of entering the top 5 DeFi protocols via Solana, JUP’s upside potential is massive.
Trading View
With a double bottom reversal starting in JUP price after the recent correction, the trend momentum is increasing. If the uptrend continues, a bullish breakout of the 23.60% Fibonacci level at $1.32 could result in a price jump to $2.75.
Therefore, with an upside target of 200%, Jupiter is one of the best buying options in our list of the best Solana-based altcoins.
