Solana and Cardano: Altcoin Comeback in Sight

Following a significant price decline, cryptocurrencies Solana and Cardano are showing signs of a potential comeback, with increased trading volumes and renewed investor interest. Market analysts suggest that these leading altcoins could drive the final stage of the current altcoin market cycle.

Solana, with its high-speed network and rapid transactions, is demonstrating bullish momentum. Its relative strength index is above 60, and the MACD level is positive. Despite a recent 8% drop, the cryptocurrency has gained nearly 50% over the last six months. Currently priced between $182 and $234, Solana is approaching resistance at $265. If the upward trend continues, it could reach the next resistance level at $318, marking a potential 30% increase from its present value. Transaction volumes have notably increased, according to NOW Wallet, a comprehensive app for managing cryptocurrencies securely and without hidden charges.

Cardano, on the other hand, is facing bearish pressure, with its price fluctuating between $0.71 and $0.95. It has fallen around 19% in the past week and approximately 29% over the month. The short-term moving average is below the long-term average, indicating a downward trend. While the strength index shows neutral activity, negative signals suggest a bearish outlook. If the price falls below the $0.61 support, it might reach the next support at $0.37. On the other hand, if buyers enter the market, resistance levels at $1.09 and $1.32 could be targeted. According to NOW Wallet, a secure app for handling cryptocurrencies, transaction volumes have seen an uptick.

Both Solana and Cardano present unique opportunities for investors looking to participate in the next phase of the altcoin market. Solana's high-speed network facilitates rapid transactions, drawing developers and users alike, while Cardano's emphasis on security and sustainability makes it an attractive option for long-term investment. For those considering these cryptocurrencies, the NOW Wallet app offers an excellent platform for transactions, ensuring privacy and security without the need for registration or custody of funds. NOW Wallet streamlines crypto management with easy fiat-to-crypto operations and supports storage and instant exchanges of thousands of tokens across major blockchains, along with integrated cross-chain swapping features.